Puget Sound Energy, Inc. 401(k) Review & Grade
Investment Plan for Employees of Puget Sound Energy, Inc.
Bellevue, WAUtilities3,346 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,553Employer $ per active participant
$14,614Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.3BNet plan assets, end of year
$308,086Average balance per account
Score breakdown
- Employer generosity37.8 / 5076th 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 features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 97th |
| Employee saving | 97th |
| Peers that auto-enroll | 82% |
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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
- Puget Sound Energy put in about $9,553 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 | $31,967,844 |
| Participant (employee) contributions | $48,904,535 |
| Other contributions (incl. rollovers in) | $3,152,764 |
| Administrative expenses paid from the plan | $173,169 |
| Benefits paid out | $109,966,332 |
| Net assets, start / end of year | $1.2B / $1.3B |
| Active participants, start / end of year | 3,403 / 3,290 |
| Participants with account balances | 4,348 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $174,154 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010155119NAL0008427457001, received 2025-10-10, EIN 91-0374630, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.