Golden State Water Company 401(k) Review & Grade
Golden State Water Company Investment Incentive Program
San Dimas, CAUtilities864 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,100Employer $ per active participant
$8,861Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$234.2MNet plan assets, end of year
$183,243Average balance per account
Score breakdown
- Employer generosity28.4 / 5057th percentile for employer $ per participant
- Low cost16.0 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 57th |
| Lower admin cost | 64th |
| Employee saving | 31th |
| 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
- Golden State Water put in about $7,100 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.
- 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 | $6,130,454 |
| Participant (employee) contributions | $7,651,470 |
| Other contributions (incl. rollovers in) | $1,033,285 |
| Administrative expenses paid from the plan | $321,904 |
| Contract administrator fees | $164,289 |
| Investment advisory & management fees | $135,755 |
| Benefits paid out | $17,672,585 |
| Net assets, start / end of year | $209.7M / $234.2M |
| Active participants, start / end of year | 834 / 893 |
| Participants with account balances | 1,278 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $25,066,421 |
Largest service providers (Schedule C)
| John Hancock | $188,371 reported compensation |
| Mercer Investment Management | $110,973 reported compensation |
| Bdo USA, P.C | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260909181939NAL0003951715001, received 2026-09-09, EIN 95-1243678, plan #005, plan year 2024-12-31 to 2025-12-30. Verify at efast.dol.gov.