Central Hudson Gas & Electric Corporation 401(k) Review & Grade
Central Hudson Gas & Electric Corporation Savings Incentive Plan
Poughkeepsie, NYUtilities1,218 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,343Employer $ per active participant
$13,241Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$448.5MNet plan assets, end of year
$283,144Average balance per account
Score breakdown
- Employer generosity39.2 / 5078th percentile for employer $ per participant
- Low cost23.9 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1568th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 95th |
| Employee saving | 68th |
| Peers that auto-enroll | 76% |
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Red flags from the filing
Corrective distributions: the plan refunded $923 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Central Hudson Gas & Electric put in about $9,343 per active participant, more than the typical peer ($6,264). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $11,384,004 |
| Participant (employee) contributions | $16,134,121 |
| Other contributions (incl. rollovers in) | $2,525,078 |
| Administrative expenses paid from the plan | $84,191 |
| Contract administrator fees | $24,281 |
| Benefits paid out | $34,747,438 |
| Net assets, start / end of year | $397.6M / $448.5M |
| Active participants, start / end of year | 1,192 / 1,245 |
| Participants with account balances | 1,584 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Caron & Bletzer PLLC |
Largest service providers (Schedule C)
| Caron & Bletzer, PLLC | $29,135 reported compensation |
| Mercer | $27,000 reported compensation |
| Fidelity Investments Institutional | $24,281 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250918122341NAL0001335121001, received 2025-09-18, EIN 14-0555980, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.