Idaho Power Company 401(k) Review & Grade
Idaho Power Company Employee Savings Plan
Boise, IDUtilities2,132 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,886Employer $ per active participant
$14,345Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$889.9MNet plan assets, end of year
$320,915Average balance per account
Score breakdown
- Employer generosity15.5 / 5031th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving11.8 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 95th |
| Employee saving | 78th |
| 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
- Idaho Power put in about $4,886 per active participant, below the typical peer ($6,264). 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 | $10,416,114 |
| Participant (employee) contributions | $30,583,292 |
| Other contributions (incl. rollovers in) | $2,287,830 |
| Administrative expenses paid from the plan | $191,776 |
| Benefits paid out | $61,680,222 |
| Net assets, start / end of year | $794.5M / $889.9M |
| Active participants, start / end of year | 2,119 / 2,145 |
| Participants with account balances | 2,773 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly |
| Employer stock held by plan | $74,523,463 |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $192,718 reported compensation |
| Charles Schwab & Co., Inc. | $680 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251012152637NAL0000108515001, received 2025-10-12, EIN 82-0130980, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.