New Jersey Resources Corporation 401(k) Review & Grade
New Jersey Resources Corporation Employees' Retirement Savings Plan
Wall, NJFinance & Insurance1,365 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,828Employer $ per active participant
$11,103Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$360.4MNet plan assets, end of year
$225,560Average balance per account
Score breakdown
- Employer generosity43.7 / 5087th percentile for employer $ per participant
- Low cost15.9 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 64th |
| Employee saving | 80th |
| Peers that auto-enroll | 62% |
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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 ($53 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- New Jersey Resources put in about $7,828 per active participant, more than the typical peer ($3,606). 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 | $10,685,712 |
| Participant (employee) contributions | $15,155,654 |
| Other contributions (incl. rollovers in) | $2,643,627 |
| Administrative expenses paid from the plan | $505,826 |
| Investment advisory & management fees | $399,715 |
| Other admin expenses | $39,989 |
| Benefits paid out | $39,428,076 |
| Net assets, start / end of year | $330.6M / $360.4M |
| Active participants, start / end of year | 1,356 / 1,374 |
| Participants with account balances | 1,598 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $51,886,667 |
Largest service providers (Schedule C)
| Newport Capital Group | $399,715 reported compensation |
| Bdo USA, P.C | $66,122 reported compensation |
| T Rowe Price RPS Inc | $39,989 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250711074730NAL0004538403001, received 2025-07-11, EIN 22-2376465, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.