Devon Energy Corporation 401(k) Review & Grade
Devon Energy Corporation Incentive Savings Plan
Oklahoma City, OKMining, Oil & Gas2,132 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$19,573Employer $ per active participant
$12,388Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.1BNet plan assets, end of year
$301,190Average balance per account
Score breakdown
- Employer generosity48.8 / 5098th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score94 / 100 · Grade A
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 88th |
| Employee saving | 88th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Devon Energy put in about $19,573 per active participant, more than the typical peer ($4,357). 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 | $41,720,908 |
| Participant (employee) contributions | $26,404,464 |
| Other contributions (incl. rollovers in) | $16,528,295 |
| Administrative expenses paid from the plan | $465,685 |
| Contract administrator fees | $3,000 |
| Investment advisory & management fees | $290,167 |
| Benefits paid out | $75,145,638 |
| Net assets, start / end of year | $932.9M / $1.1B |
| Active participants, start / end of year | 1,958 / 2,305 |
| Participants with account balances | 3,565 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grant Thornton LLP |
Largest service providers (Schedule C)
| Blackrock Institutional Trust Co | $651,498 reported compensation |
| Strategic Advisors, Inc. | $250,583 reported compensation |
| Fidelity Investments Institutional | $176,276 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014172038NAL0003376753001, received 2025-10-14, EIN 73-1567067, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.