Kennecott Utah Copper LLC 401(k) Review & Grade
Kennecott Utah Copper 401(k) Savings and Retirement Contribution Plan for Represented Employees
South Jordan, UTMining, Oil & Gas1,453 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,903Employer $ per active participant
$4,311Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$130.5MNet plan assets, end of year
$80,781Average balance per account
Score breakdown
- Employer generosity15.2 / 5030th percentile for employer $ per participant
- Low cost22.9 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 92th |
| Employee saving | 20th |
| Peers that auto-enroll | 60% |
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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
- Kennecott Utah Copper put in about $2,903 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 | $4,217,981 |
| Participant (employee) contributions | $6,263,771 |
| Other contributions (incl. rollovers in) | $42,982 |
| Administrative expenses paid from the plan | $43,810 |
| Benefits paid out | $9,725,084 |
| Net assets, start / end of year | $114.7M / $130.5M |
| Active participants, start / end of year | 1,322 / 1,584 |
| Participants with account balances | 1,615 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
Largest service providers (Schedule C)
| Bdo USA, P.C. | $31,348 reported compensation |
| Empower Annuity Insurance Company | $10,345 reported compensation |
| Morgan, Lewis & Bockius LLP | $2,117 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905111738NAL0028789952001, received 2025-09-05, EIN 13-3108078, plan #204, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.