Txnm Energy, Inc. 401(k) Review & Grade
Txnm Energy, Inc. Retirement Savings Plan
Albuquerque, NMUtilities1,670 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$11,021Employer $ per active participant
$11,301Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$826.6MNet plan assets, end of year
$302,110Average balance per account
Score breakdown
- Employer generosity46.6 / 5093th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 77th |
| Employee saving | 51th |
| Peers that auto-enroll | 76% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,369 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Txnm Energy put in about $11,021 per active participant, more than the typical peer ($6,264). 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 | $18,400,148 |
| Participant (employee) contributions | $18,867,494 |
| Other contributions (incl. rollovers in) | $2,315,743 |
| Administrative expenses paid from the plan | $710,708 |
| Investment advisory & management fees | $443,201 |
| Other admin expenses | $95,505 |
| Benefits paid out | $89,195,244 |
| Net assets, start / end of year | $765.4M / $826.6M |
| Active participants, start / end of year | 1,631 / 1,708 |
| Participants with account balances | 2,736 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Moss Adams LLP |
| Employer stock held by plan | $6,170,532 |
Largest service providers (Schedule C)
| Vanguard Advisors Inc. | $443,201 reported compensation |
| Vanguard Group Inc | $188,842 reported compensation |
| RVK | $45,084 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922175529NAL0004930593001, received 2025-09-22, EIN 85-0468296, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.