Basin Electric Power Cooperative 401(k) Review & Grade
Basin Electric Power Cooperative 401(k) Plan
Bismarck, NDUtilities822 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,419Employer $ per active participant
$11,154Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$395.6MNet plan assets, end of year
$359,311Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost21.7 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1547th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score79 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 87th |
| Employee saving | 47th |
| Peers that auto-enroll | 76% |
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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
- Basin Electric Power Cooperative put in about $9,419 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.
- 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 | $7,738,036 |
| Participant (employee) contributions | $9,162,725 |
| Other contributions (incl. rollovers in) | $1,662,564 |
| Administrative expenses paid from the plan | $194,668 |
| Other admin expenses | $194,668 |
| Benefits paid out | $26,232,241 |
| Net assets, start / end of year | $355.4M / $395.6M |
| Active participants, start / end of year | 782 / 861 |
| Participants with account balances | 1,101 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Vanguard Advisors, Inc. | $119,280 reported compensation |
| The Vanguard Group, Inc. | $78,809 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250722155540NAL0002993409001, received 2025-07-22, EIN 45-0277395, plan #401, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.