Tucson Electric Power Company 401(k) Review & Grade
Tucson Electric Power Company 401k
Tucson, AZUtilities2,070 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,603Employer $ per active participant
$10,827Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$518.6MNet plan assets, end of year
$216,169Average balance per account
Score breakdown
- Employer generosity13.5 / 5027th percentile for employer $ per participant
- Low cost21.0 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving6.3 / 1542th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score38 / 100 · Grade D
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 84th |
| Employee saving | 42th |
| Peers that auto-enroll | 76% |
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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 $3,074 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Tucson Electric Power put in about $4,603 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.
- 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 | $9,528,325 |
| Participant (employee) contributions | $22,411,178 |
| Other contributions (incl. rollovers in) | $3,859,525 |
| Administrative expenses paid from the plan | $293,680 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $163,011 |
| Benefits paid out | $41,771,538 |
| Net assets, start / end of year | $443.0M / $518.6M |
| Active participants, start / end of year | 2,061 / 2,079 |
| Participants with account balances | 2,399 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $1,869,447 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $163,011 reported compensation |
| Fidelity Investments Institutional | $132,423 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250620122631NAL0002325571001, received 2025-06-20, EIN 86-0062700, plan #007, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.