Indianapolis Power & Light Company 401(k) Review & Grade
Employees' Thrift Plan of Indianapolis Power & Light Company
Dayton, OHUtilities896 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,456Employer $ per active participant
$8,788Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$204.1MNet plan assets, end of year
$192,742Average balance per account
Score breakdown
- Employer generosity12.8 / 5026th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving4.3 / 1528th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 84th |
| Employee saving | 28th |
| Peers that auto-enroll | 76% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Indianapolis Power & Light put in about $4,456 per active participant, below the typical peer ($6,264). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $3,990,427 |
| Participant (employee) contributions | $7,869,434 |
| Other contributions (incl. rollovers in) | $35,376 |
| Administrative expenses paid from the plan | $123,646 |
| Investment advisory & management fees | $45,000 |
| Other admin expenses | $791 |
| Benefits paid out | $26,173,217 |
| Net assets, start / end of year | $197.8M / $204.1M |
| Active participants, start / end of year | 887 / 904 |
| Participants with account balances | 1,059 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $5,793,034 |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $76,279 reported compensation |
| Capital Cities, LLC | $45,000 reported compensation |
| Charles Schwab & Co., Inc. | $1,024 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250630081612NAL0006507955001, received 2025-06-30, EIN 35-0413620, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.