Eversource Energy Service Company 401(k) Review & Grade
Eversource 401k Plan
Hartford, CTUtilities10,290 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,126Employer $ per active participant
$13,719Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$4.0BNet plan assets, end of year
$283,159Average balance per account
Score breakdown
- Employer generosity43.4 / 5087th percentile for employer $ per participant
- Low cost19.9 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1591th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 80th |
| Employee saving | 91th |
| Peers that auto-enroll | 50% |
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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
- Eversource Energy Service put in about $7,126 per active participant, more than the typical peer ($2,229). 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 | $73,326,861 |
| Participant (employee) contributions | $141,160,723 |
| Other contributions (incl. rollovers in) | $23,792,511 |
| Administrative expenses paid from the plan | $1,405,620 |
| Investment advisory & management fees | $848,361 |
| Other admin expenses | $197,892 |
| Benefits paid out | $443,963,241 |
| Net assets, start / end of year | $3.8B / $4.0B |
| Active participants, start / end of year | 10,041 / 10,538 |
| Participants with account balances | 14,290 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Fiondella, Milone & Lasaracina LLP |
| Employer stock held by plan | $522,977,382 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $817,910 reported compensation |
| Fidelity Investments Instl Oper Co. | $258,583 reported compensation |
| Nepc LLC | $203,417 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014110009NAL0001255027008, received 2025-10-14, EIN 06-0810627, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.