Hope Gas, Inc. 401(k) Review & Grade
Hope Gas Retirement Savings Plan
Clarksburg, WVUtilities506 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,264Employer $ per active participant
$8,398Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$38.3MNet plan assets, end of year
$65,582Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score25 / 100 · Grade F
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 23th |
| Employee saving | 27th |
| 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 ($173,244 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $363 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hope Gas put in about $6,264 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.
- Direct plan expenses (0.50% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $3,172,704 |
| Participant (employee) contributions | $4,253,345 |
| Other contributions (incl. rollovers in) | $2,461,512 |
| Administrative expenses paid from the plan | $164,370 |
| Contract administrator fees | $127,038 |
| Investment advisory & management fees | $8,082 |
| Other admin expenses | $29,250 |
| Benefits paid out | $2,606,773 |
| Net assets, start / end of year | $27.5M / $38.3M |
| Active participants, start / end of year | 449 / 564 |
| Participants with account balances | 584 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $126,638 reported compensation |
| Gallagher Benefit Services Inc | $65,674 reported compensation |
| Baker Tilly US, LLP | $27,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015131257NAL0004944449001, received 2025-10-15, EIN 55-0196830, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.