Duquesne Light Company 401(k) Review & Grade
Duquesne Light Company 401(k) Retirement Savings Plan for Ibew Represented Employees
Pittsburgh, PAUtilities879 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,418Employer $ per active participant
$14,116Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$210.7MNet plan assets, end of year
$199,120Average balance per account
Score breakdown
- Employer generosity31.8 / 5064th percentile for employer $ per participant
- Low cost18.4 / 2574th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 74th |
| Employee saving | 74th |
| Peers that auto-enroll | 76% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($122,590 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
- Duquesne Light put in about $7,418 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.
- 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 | $6,520,066 |
| Participant (employee) contributions | $12,407,913 |
| Other contributions (incl. rollovers in) | $359,613 |
| Administrative expenses paid from the plan | $197,997 |
| Other admin expenses | $197,997 |
| Benefits paid out | $8,022,806 |
| Net assets, start / end of year | $177.4M / $210.7M |
| Active participants, start / end of year | 865 / 893 |
| Participants with account balances | 1,058 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $97,106 reported compensation |
| The Vanguard Group, Inc. | $61,412 reported compensation |
| LCG Associates Inc. | $34,964 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013132324NAL0003023410001, received 2025-10-13, EIN 25-0451600, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.