San Diego Gas & Electric Company 401(k) Review & Grade
San Diego Gas & Electric Company Savings Plan
San Diego, CAUtilities4,860 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,336Employer $ per active participant
$16,500Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$2.1BNet plan assets, end of year
$358,120Average balance per account
Score breakdown
- Employer generosity10.8 / 5022th percentile for employer $ per participant
- Low cost24.4 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving15.0 / 15100th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 97th |
| Employee saving | 100th |
| 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
- San Diego Gas & Electric put in about $4,336 per active participant, below the typical peer ($6,490). 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.
- 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 | $21,074,603 |
| Participant (employee) contributions | $80,189,528 |
| Other contributions (incl. rollovers in) | $5,524,544 |
| Administrative expenses paid from the plan | $203,999 |
| Other admin expenses | $2,010 |
| Benefits paid out | $144,789,380 |
| Net assets, start / end of year | $1.9B / $2.1B |
| Active participants, start / end of year | 4,931 / 4,789 |
| Participants with account balances | 5,950 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $203,999 reported compensation |
| Northern Trust Company | $49,433 reported compensation |
| Financial Alternatives Inc | $6,119 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627080813NAL0013484768001, received 2025-06-27, EIN 95-1184800, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.