Enlink Midstream Operating, LP 401(k) Review & Grade
Enlink Midstream Operating, LP 401(k) Trust
Dallas, TXUtilities1,079 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,396Employer $ per active participant
$11,248Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$210.5MNet plan assets, end of year
$147,397Average balance per account
Score breakdown
- Employer generosity30.4 / 5061th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 77th |
| Employee saving | 50th |
| 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 ($538 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Fraud or dishonesty loss: the plan reported a loss caused by fraud or dishonesty during the year.
What to do if you're in this plan
- Enlink Midstream Operating, LP put in about $7,396 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 | $7,979,780 |
| Participant (employee) contributions | $12,136,974 |
| Other contributions (incl. rollovers in) | $1,840,981 |
| Administrative expenses paid from the plan | $183,641 |
| Contract administrator fees | $108,537 |
| Investment advisory & management fees | $74,961 |
| Other admin expenses | $143 |
| Benefits paid out | $39,116,748 |
| Net assets, start / end of year | $201.7M / $210.5M |
| Active participants, start / end of year | 1,076 / 1,082 |
| Participants with account balances | 1,428 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $108,537 reported compensation |
| Creative Planning | $56,211 reported compensation |
| Lockton Investment Advisors | $18,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002111511NAL0000267635001, received 2025-10-02, EIN 11-3666506, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.