Retirement plan
BPX ENERGY EMPLOYEE SAVINGS PLAN
BP CORPORATION NORTH AMERICA INC.EIN 36-1812780Plan #100PY 2022
501 WESTLAKE PARK BLVD., ATTN L CARGILL - HOUSTON, TX 77079281-366-2000
Prospect flagsNo flags tripped
Filing contacts
From the Form 5500, federal recordPlan administrator signer
CLIFFORD E. YORK
Signed 08/01/2023
Plan administrator entity
EMPLOYEE BENEFITS PLAN ADMINISTRATOR
EIN 743259348
BP CORPORATION NORTH AMERICA INC., 501 WESTLAKE PARK BLVD. · HOUSTON, TX 77079
Summary metrics
Total assets (EOY)
$229.3M
-48.4% from 2016
Total participants
1,345
+5.4% from 2016
Average account balance
$170,712
-51.1% from 2016
Annual return
-14.46%
-22.80 pp from 2016
Benchmarks
Peer group
Industry32 - Manufacturing
Plan typeDefined contribution
Participants250-999
Cohort1,172 peers
Snapshot2022
95
Participant deferral / active EE
$16,688
median $3,977
97
Employer contribution / active EE
$25,188
median $2,007
94
Participation rate
99.7%
median 91.0%
93
Avg account balance
$170,712
median $57,806
81
Admin fee / account holder
$34
median $128
63
Annual return
-14.46%
median -15.35%
Overall peer rank
87of 100
87th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$366.32M
Average account balance
Total assets / participants with a balance (line 6g)
$252K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
1,452
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
100.0%
Contributions (total)
Employer and participant dollars contributed each year
$44.43M
Contributions per participant
Average employer and participant contribution per enrolled participant
$46K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.46%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$64
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 2 by compensation
| Provider | Service type | Compensation |
|---|---|---|
STRATEGIC ADVISORS , INC2 years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $40,619 |
Service code 13 · EIN 04-2647786 | Contract Administrator | $4,450 |
Top hat statement on fileNQDC
Filed April 8, 2024 (most recent of 5 filings on file)
Plan administrator
Plans declared (1)
- BP Excess Partnership Savings Plan15 emp
Plan features & details
Pension benefit codes2E2F2G2J2K3H2T2S
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
0 tripped
No flags tripped for this filing year. This plan looks clean.
Expense breakdown
Schedule H Part II
Admin total
$45K
$57 / participant
- Contract admin$45K100.0%
% of EOY assets
0.020%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- DELOITTE & TOUCHE LLP
- Auditor EIN
- 133891517
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified