Duke Energy Corporation 401(k) Review & Grade
Duke Energy Retirement Savings Plan
Charlotte, NCUtilities26,978 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,358Employer $ per active participant
$12,546Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$11.3BNet plan assets, end of year
$323,509Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost18.0 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 72th |
| Employee saving | 88th |
| Peers that auto-enroll | 50% |
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,196 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Duke Energy put in about $9,358 per active participant, more than the typical peer ($2,229). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $252,470,000 |
| Participant (employee) contributions | $338,468,000 |
| Other contributions (incl. rollovers in) | $26,119,000 |
| Administrative expenses paid from the plan | $5,183,000 |
| Investment advisory & management fees | $4,914,000 |
| Benefits paid out | $1,270,537,000 |
| Net assets, start / end of year | $10.4B / $11.3B |
| Active participants, start / end of year | 27,341 / 26,616 |
| Participants with account balances | 34,836 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcconnell & Jones LLP |
| Employer stock held by plan | $1,070,296,000 |
Largest service providers (Schedule C)
| Financial Engines | $4,725,000 reported compensation |
| Fidelity Investments Institutional | $269,000 reported compensation |
| Russell Investment Management LLC | $189,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010135251NAL0018754754001, received 2025-10-10, EIN 20-2777218, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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