Chevron Phillips Chemical Company LP 401(k) Review & Grade
Chevron Phillips Chemical Company LP 401(k) Savings and Profit Sharing Plan
The Woodlands, TXManufacturing4,882 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$9,565Employer $ per active participant
$15,904Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$321,223Average balance per account
Score breakdown
- Employer generosity47.1 / 5094th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 65th |
| Employee saving | 97th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $81,879 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Chevron Phillips Chemical Company LP put in about $9,565 per active participant, more than the typical peer ($3,452). 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.
- 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 | $46,691,524 |
| Participant (employee) contributions | $77,635,997 |
| Other contributions (incl. rollovers in) | $18,966,322 |
| Administrative expenses paid from the plan | $1,441,105 |
| Contract administrator fees | $8,100 |
| Investment advisory & management fees | $1,050,977 |
| Other admin expenses | $35,207 |
| Benefits paid out | $207,590,960 |
| Net assets, start / end of year | $1.7B / $1.9B |
| Active participants, start / end of year | 4,782 / 4,981 |
| Participants with account balances | 6,021 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver & Tidwell, LLP |
| Employer stock held by plan | $28,020,331 |
Largest service providers (Schedule C)
| Financial Engines | $1,050,977 reported compensation |
| Fidelity Investments Institutional | $330,608 reported compensation |
| Edelman Financial Engines, LLC | $30,115 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251022154033NAL0002756544002, received 2025-10-22, EIN 73-1587712, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.