El Paso Electric Company 401(k) Review & Grade
El Paso Electric Company Savings Plan
El Paso, TXUtilities1,136 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,955Employer $ per active participant
$11,313Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$241.2MNet plan assets, end of year
$184,150Average balance per account
Score breakdown
- Employer generosity23.0 / 5046th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 95th |
| Employee saving | 53th |
| Peers that auto-enroll | 76% |
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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
- El Paso Electric put in about $5,955 per active participant, below the typical peer ($6,264). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $6,767,651 |
| Participant (employee) contributions | $12,857,075 |
| Other contributions (incl. rollovers in) | $482,334 |
| Administrative expenses paid from the plan | $52,200 |
| Investment advisory & management fees | $1,279 |
| Other admin expenses | $49,170 |
| Benefits paid out | $27,071,036 |
| Net assets, start / end of year | $220.6M / $241.2M |
| Active participants, start / end of year | 1,096 / 1,177 |
| Participants with account balances | 1,310 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Weaver and Tidwell, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $49,170 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250818161843NAL0001410545001, received 2025-08-18, EIN 74-0607870, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.