Ormat Technologies, Inc. and Subsidiaries 401(k) Review & Grade
Ormat 401(k) Plan
Reno, NVUtilities728 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,959Employer $ per active participant
$9,274Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$79.6MNet plan assets, end of year
$89,115Average balance per account
Score breakdown
- Employer generosity23.6 / 5047th percentile for employer $ per participant
- Low cost15.6 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving5.3 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 47th |
| Lower admin cost | 63th |
| Employee saving | 35th |
| Peers that auto-enroll | 76% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,787 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ormat Technologies, Inc. and Subsidiaries put in about $5,959 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.
- 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 | $4,338,224 |
| Participant (employee) contributions | $6,751,313 |
| Other contributions (incl. rollovers in) | $834,078 |
| Administrative expenses paid from the plan | $113,494 |
| Investment advisory & management fees | $75,209 |
| Benefits paid out | $9,985,432 |
| Net assets, start / end of year | $68.5M / $79.6M |
| Active participants, start / end of year | 753 / 703 |
| Participants with account balances | 893 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Morgan Stanley Global Banking Opera | $75,209 reported compensation |
| Transamerica Retirement Solutions | $38,285 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929065124NAL0004884259001, received 2025-09-29, EIN 88-0326081, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.