Siemens Energy, Inc. 401(k) Review & Grade
Siemens Energy, Inc. Savings Plan
Orlando, FLUtilities10,808 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,757Employer $ per active participant
$13,278Employee $ saved per active participant
0.16%Direct admin cost, % of plan assets
$3.9BNet plan assets, end of year
$256,747Average balance per account
Score breakdown
- Employer generosity46.2 / 5092th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1590th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score73 / 100 · Grade B
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 | 92th |
| Lower admin cost | 25th |
| Employee saving | 90th |
| Peers that auto-enroll | 50% |
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
- Siemens Energy put in about $8,757 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.
- Direct plan expenses (0.16% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $94,645,205 |
| Participant (employee) contributions | $143,505,868 |
| Other contributions (incl. rollovers in) | $9,643,247 |
| Administrative expenses paid from the plan | $6,147,563 |
| Contract administrator fees | $67,000 |
| Investment advisory & management fees | $4,634,619 |
| Benefits paid out | $294,197,321 |
| Net assets, start / end of year | $3.5B / $3.9B |
| Active participants, start / end of year | 10,564 / 11,052 |
| Participants with account balances | 15,382 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Dopkins and Company LLP |
Largest service providers (Schedule C)
| Arrowstreet Capital | $1,731,973 reported compensation |
| Alight Solutions LLC | $1,037,635 reported compensation |
| MFS | $917,375 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925125511NAL0019473282001, received 2025-09-25, EIN 13-3987280, plan #021, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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