Retirement plan

EVERSOURCE 401K PLAN

EVERSOURCE ENERGY SERVICE COMPANYEIN 06-0810627Plan #005PY 2024
PO BOX 270 - HARTFORD, CT 061410270800-841-8684LinkedIn1-10 employees
Other plans on this EIN
1 filing
Prospect flagsHigh assets / participant

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 841-8684
Plan administrator entity
EXECUTIVE VICE PRESIDENT, HUMAN RESOURCES & INFORMATION TECHNOLOGY
EIN 060989432

Summary metrics

Total assets (EOY)
$4046.3M
-3.2% from 2016
Total participants
14,558
+3.5% from 2016
Average account balance
$283,159
-4.4% from 2016
Annual return
13.97%
-7.81 pp from 2016

Benchmarks

Peer group
Industryany (size+type match)
Plan typeDefined contribution
Participants>=10,000
Cohort1,248 peers
Snapshot2024
Participant deferral / active EE
$13,395
median $4,430
Employer contribution / active EE
$6,958
median $2,074
Participation rate
97.5%
median 85.8%
Avg account balance
$283,159
median $73,381
Admin fee / account holder
$98
median $61
Annual return
13.97%
median 14.72%
Overall peer rank
67th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$4.05B
Average account balance
Total assets / participants with a balance (line 6g)
$283K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
14,290
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.5%
Contributions (total)
Employer and participant dollars contributed each year
$214.49M
Contributions per participant
Average employer and participant contribution per enrolled participant
$20K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.97%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$98
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 7 by compensation
ProviderService typeCompensation
Service code 27 · EIN 04-2654524
Advisory (Plan)
$817,910
Service code 64 · EIN 04-2647786
Recordkeeping Fees
$258,583
NEPC LLC9 years
Service code 16 · EIN 26-1429809
Consulting
$203,417
Service code 10 · EIN 06-1648707
Accounting
$56,119
Service code 29 · EIN 95-1463164
Legal
$34,648
DLA PIPER1 year
Service code 29 · EIN 52-0616490
Legal
$10,017
Service code 16 · EIN 22-2232264
Consulting
$8,250

Top hat statement on fileNQDC

Filed July 16, 2024 (most recent of 3 filings on file)

Plans declared (1)

  • Eversource Energy Service Company Nonqualified Deferred Compensation Retirement Plan2 emp

Plan features & details

Pension benefit codes2A2F2H2J2K2P2R2S2T
Plan features
  • 2A
    Age/service weighted or new comparability plan
    Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2H
    Partial participant-directed account plan
    Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2J
    Code section 401(k) feature
    Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
  • 2K
    Code section 401(m) arrangement
    Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
  • 2P
    Leveraged ESOP
    Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

1 tripped
  • InformationalHigh assets / participant

    Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II
Admin total
$1.4M
$133 / participant
  • Recordkeeping$259K18.4%
  • Investment mgmt$848K60.4%
  • Legal$45K3.2%
  • Other / not subdivided$254K18.1%
% of EOY assets
0.035%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
FIONDELLA, MILONE & LASARACINA LLP
Auditor EIN
061648707
Audit fees
$56,119
Opinion code
Unqualified