Freeport-Mcmoran Inc. 401(k) Review & Grade
Freeport-Mcmoran Inc. Employee Capital Accumulation Program
Phoenix, AZMining, Oil & Gas13,985 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,496Employer $ per active participant
$7,696Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$2.7BNet plan assets, end of year
$142,676Average balance per account
Score breakdown
- Employer generosity46.8 / 5094th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score88 / 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 | 94th |
| Lower admin cost | 94th |
| Employee saving | 69th |
| Peers that auto-enroll | 50% |
Red flags from the filing
Corrective distributions: the plan refunded $586 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Freeport-Mcmoran put in about $9,496 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.
- 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 | $132,800,359 |
| Participant (employee) contributions | $107,628,816 |
| Other contributions (incl. rollovers in) | $5,619,579 |
| Administrative expenses paid from the plan | $359,638 |
| Investment advisory & management fees | $43,842 |
| Benefits paid out | $202,023,005 |
| Net assets, start / end of year | $2.3B / $2.7B |
| Active participants, start / end of year | 13,770 / 14,200 |
| Participants with account balances | 18,705 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
| Employer stock held by plan | $16,811,217 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $278,206 reported compensation |
| Charles Schwab & Co., Inc. | $44,892 reported compensation |
| Dynasty Wealth Management LLC | $43,767 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014141427NAL0006261730002, received 2025-10-14, EIN 74-2480931, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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