Evergy, Inc. 401(k) Review & Grade
Evergy, Inc. 401k Savings Plan
Kansas City, MOUtilities4,686 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,685Employer $ per active participant
$12,371Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$250,185Average balance per account
Score breakdown
- Employer generosity21.6 / 5043th percentile for employer $ per participant
- Low cost15.6 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1565th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Utilities plans with 2,500–9,999 active participants (38 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 62th |
| Employee saving | 65th |
| 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
- Evergy put in about $5,685 per active participant, below the typical peer ($6,490). 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 | $26,642,738 |
| Participant (employee) contributions | $57,978,735 |
| Other contributions (incl. rollovers in) | $3,525,194 |
| Administrative expenses paid from the plan | $1,202,720 |
| Investment advisory & management fees | $805,648 |
| Other admin expenses | $3,300 |
| Benefits paid out | $108,521,506 |
| Net assets, start / end of year | $1.3B / $1.5B |
| Active participants, start / end of year | 4,651 / 4,722 |
| Participants with account balances | 5,978 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
| Employer stock held by plan | $43,723,867 |
Largest service providers (Schedule C)
| Empower Advisory Group LLC | $723,286 reported compensation |
| Empower Annuity Insurance Company O | $393,772 reported compensation |
| Sageview Advisory Group LLC | $82,362 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250630200602NAL0016946048001, received 2025-06-30, EIN 82-2733395, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.