Helix Energy Solutions Group Inc. 401(k) Review & Grade
Helix Energy Solutions Group Inc. Employees' 401k Savings Plan
Houston, TXMining, Oil & Gas1,256 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,892Employer $ per active participant
$7,078Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$122.1MNet plan assets, end of year
$111,804Average balance per account
Score breakdown
- Employer generosity7.8 / 5016th percentile for employer $ per participant
- Low cost24.1 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 96th |
| Employee saving | 50th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $4,164 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Helix Energy Solutions Group put in about $1,892 per active participant, below the typical peer ($4,357). 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 | $2,374,896 |
| Participant (employee) contributions | $8,886,071 |
| Other contributions (incl. rollovers in) | $1,154,034 |
| Administrative expenses paid from the plan | $18,895 |
| Contract administrator fees | $1,500 |
| Other admin expenses | $7 |
| Benefits paid out | $8,684,452 |
| Net assets, start / end of year | $103.8M / $122.1M |
| Active participants, start / end of year | 1,339 / 1,172 |
| Participants with account balances | 1,092 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Riley and Company PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $18,888 reported compensation |
| Frost Bank | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250701142524NAL0007062835001, received 2025-07-01, EIN 95-3409686, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.