Helmerich & Payne, Inc. 401(k) Review & Grade
The Helmerich & Payne, Inc. 401(k)/thrift Plan
Tulsa, OKMining, Oil & Gas6,244 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,466Employer $ per active participant
$7,403Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$844.3MNet plan assets, end of year
$81,450Average balance per account
Score breakdown
- Employer generosity38.3 / 5077th percentile for employer $ per participant
- Low cost11.8 / 2547th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1570th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 47th |
| Employee saving | 70th |
| Peers that auto-enroll | 52% |
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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 ($308 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $16,733 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Helmerich & Payne put in about $4,466 per active participant, more than the typical peer ($2,062). 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 | $27,887,422 |
| Participant (employee) contributions | $46,222,847 |
| Other contributions (incl. rollovers in) | $1,384,946 |
| Administrative expenses paid from the plan | $1,053,832 |
| Other admin expenses | $1,053,832 |
| Benefits paid out | $75,971,646 |
| Net assets, start / end of year | $746.4M / $844.3M |
| Active participants, start / end of year | 6,288 / 6,200 |
| Participants with account balances | 10,366 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
| Employer stock held by plan | $7,973,413 |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $916,126 reported compensation |
| Vanguard Advisers Inc. | $235,330 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009102007NAL0010749920001, received 2025-10-09, EIN 73-0679879, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.