International Transmission Company 401(k) Review & Grade
Itc Savings & Investment Plan
Novi, MIUtilities776 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,474Employer $ per active participant
$17,224Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$375.6MNet plan assets, end of year
$409,561Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 97th |
| Employee saving | 97th |
| 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
- International Transmission put in about $9,474 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 | $7,356,778 |
| Participant (employee) contributions | $13,374,635 |
| Other contributions (incl. rollovers in) | $2,136,400 |
| Administrative expenses paid from the plan | $46,411 |
| Investment advisory & management fees | $53,121 |
| Benefits paid out | $17,329,975 |
| Net assets, start / end of year | $309.0M / $375.6M |
| Active participants, start / end of year | 759 / 794 |
| Participants with account balances | 917 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche, LLP |
| Employer stock held by plan | $371,645 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $53,121 reported compensation |
| Fidelity Invst Inst Oper Co. | −$6,186 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250618153336NAL0003999376001, received 2025-06-18, EIN 81-0596181, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.