Consumers Energy Company 401(k) Review & Grade
Consumers Energy Company Employees' Savings Plan
Jackson, MIUtilities8,217 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,272Employer $ per active participant
$12,515Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$2.9BNet plan assets, end of year
$285,344Average balance per account
Score breakdown
- Employer generosity44.6 / 5089th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score88 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 90th |
| Employee saving | 73th |
| 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
- Consumers Energy put in about $11,272 per active participant, more than the typical peer ($6,490). 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 | $92,620,168 |
| Participant (employee) contributions | $102,831,762 |
| Other contributions (incl. rollovers in) | $6,439,019 |
| Administrative expenses paid from the plan | $796,387 |
| Investment advisory & management fees | $354,718 |
| Other admin expenses | $101,479 |
| Benefits paid out | $183,929,697 |
| Net assets, start / end of year | $2.5B / $2.9B |
| Active participants, start / end of year | 8,216 / 8,218 |
| Participants with account balances | 10,003 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rehmann Robson LLC |
Largest service providers (Schedule C)
| Fidelity Inv Inst Oper Company, Inc | $340,190 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002115716NAL0000289827001, received 2025-10-02, EIN 38-0442310, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.