Nisource Inc 401(k) Review & Grade
Nisource Inc Retirement Savings Plan
Merrillville, INUtilities7,800 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,359Employer $ per active participant
$10,407Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$2.0BNet plan assets, end of year
$205,081Average balance per account
Score breakdown
- Employer generosity29.7 / 5059th percentile for employer $ per participant
- Low cost24.8 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 99th |
| Employee saving | 41th |
| Peers that auto-enroll | 82% |
Red flags from the filing
Corrective distributions: the plan refunded $157,359 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Nisource put in about $7,359 per active participant, more than the typical peer ($6,490). 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 | $57,403,718 |
| Participant (employee) contributions | $81,177,060 |
| Other contributions (incl. rollovers in) | $9,104,821 |
| Administrative expenses paid from the plan | $54,836 |
| Other admin expenses | $116 |
| Benefits paid out | $177,319,824 |
| Net assets, start / end of year | $1.7B / $2.0B |
| Active participants, start / end of year | 7,619 / 7,982 |
| Participants with account balances | 9,913 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mcconnell & Jones LLP |
| Employer stock held by plan | $223,369,418 |
Largest service providers (Schedule C)
| Fid Invest Inst Ops Co | $54,720 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250815085541NAL0012614912001, received 2025-08-15, EIN 35-2108964, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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