Pinnacle West Capital Corporation 401(k) Review & Grade
Pinnacle West Capital Corporation Savings Plan
Phoenix, AZManagement of Companies6,222 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,346Employer $ per active participant
$12,608Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$201,222Average balance per account
Score breakdown
- Employer generosity33.9 / 5068th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score66 / 100 · Grade B
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 42th |
| Employee saving | 97th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,951 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pinnacle West Capital put in about $4,346 per active participant, more than the typical peer ($3,455). 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 | $27,038,574 |
| Participant (employee) contributions | $78,442,173 |
| Other contributions (incl. rollovers in) | $11,625,214 |
| Administrative expenses paid from the plan | $2,452,781 |
| Contract administrator fees | $4,800 |
| Investment advisory & management fees | $1,821,773 |
| Other admin expenses | $192,554 |
| Benefits paid out | $154,595,100 |
| Net assets, start / end of year | $1.5B / $1.6B |
| Active participants, start / end of year | 6,085 / 6,358 |
| Participants with account balances | 8,015 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $45,751,810 |
Largest service providers (Schedule C)
| Financial Engines | $924,694 reported compensation |
| Fid Inv Inst Ops Co | $462,394 reported compensation |
| Edelman Financial Engines, LLC | $19,980 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250616103605NAL0000449635001, received 2025-06-16, EIN 86-0512431, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.