Targa Resources LLC 401(k) Review & Grade
Targa Resources 401(k) and Profit Sharing Plan
Houston, TXTransportation & Warehousing3,301 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$10,394Employer $ per active participant
$11,641Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$612.6MNet plan assets, end of year
$149,025Average balance per account
Score breakdown
- Employer generosity47.5 / 5095th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1593th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 87th |
| Employee saving | 93th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $6,518 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Targa Resources put in about $10,394 per active participant, more than the typical peer ($1,834). 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.
- 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 | $34,311,199 |
| Participant (employee) contributions | $38,425,654 |
| Other contributions (incl. rollovers in) | $6,771,704 |
| Administrative expenses paid from the plan | $203,397 |
| Contract administrator fees | $2,700 |
| Investment advisory & management fees | $118,087 |
| Benefits paid out | $63,602,008 |
| Net assets, start / end of year | $520.5M / $612.6M |
| Active participants, start / end of year | 3,181 / 3,421 |
| Participants with account balances | 4,111 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $118,087 reported compensation |
| Fidelity Investments Institutional | $90,312 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013102946NAL0002480738001, received 2025-10-13, EIN 14-1904332, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.