Retirement plan

RETIREMENT PLAN FOR EMPLOYEES OF PUGET SOUND ENERGY, INC.

Name: PUGET SOUND ENERGY, INC. - RETIREMENT PLAN FOR EMPLOYEES OF PUGET SOUND ENERGY, INC. (2024) Form 5500
Creator: PUGET SOUND ENERGY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT PLAN FOR EMPLOYEES OF PUGET SOUND ENERGY, INC., PUGET SOUND ENERGY, INC.

PUGET SOUND ENERGY, INC.EIN 91-0374630Plan #001PY 2024

P.O. BOX 97034 - BELLEVUE, WA 980099734425-462-3389pse.comLinkedIn1001-5000 employeesutilities

Other plans on this EIN

1 filing

#002Retirement-$1.34B assets

Prospect flagsHigh retiree %

Top hat statement on fileNQDC

Filed February 21, 2006 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$830.1M

-4.0% from 2016

Total participants

5,133

+1.5% from 2016

Average account balance

No prior year

Annual return

8.75%

-7.19 pp from 2016

Benchmarks

See 38 peers

Peer group

Industry22 - Utilities

Plan typeDefined benefit

Participants1,000-4,999

Cohort38 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$830.09M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$162K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

3,328

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$18.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.75%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
MFS INVESTMENT MANAGEMENT10+ years Filed as: MFS HERITAGE TRUST COMPANY Service code 28 · EIN 57-1187281	Investment Management	$567,597
MILLIMAN, INC.10+ years Service code 11 · EIN 91-0675641	Actuarial	$550,353
BOSTON TRUST WALDEN COMPANY2 years Filed as: BOSTON TRUST WALDEN INC Service code 28 · EIN 04-3554611	Investment Management	$377,229
LOOMIS SAYLES10+ years Filed as: LOOMIS SAYLES & COMPANY, L.P. Service code 28 · EIN 04-3200030	Investment Management	$302,210
PIMCO FUNDS6 years Filed as: PIMCO Service code 28 · EIN 33-0629048	Investment Management	$282,363
DODGE & COX10+ years Service code 28 · EIN 94-1441976	Investment Management	$255,657
THE BANK OF NEW YORK MELLON5 years Filed as: U.S. BANK Service code 21 · EIN 41-6271370	Bank Trustee	$142,807
CALLAN ASSOCIATES10+ years Filed as: CALLAN ASSOCIATES, INC. Service code 27 · EIN 94-2192581	Advisory (Plan)	$118,946
CLARK NUBER10+ years Filed as: CLARK NUBER P.S. Service code 10 · EIN 91-1194016	Accounting	$40,850
PERKINS COIE, LLP10+ years Service code 29 · EIN 91-0591206	Legal	$26,964

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1A1C1E3F3H

Plan features

1A
Benefits are primarily pay related
Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
1E
Section 401(h) arrangement
Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$3.3M

$1838 / participant

Trustee / custodial$108K3.2%
Investment mgmt$2M58.5%
Legal$27K0.8%
Actuarial$222K6.7%
Contract admin$442K13.3%
Other / not subdivided$578K17.4%

% of EOY assets

0.400%

all-in expense ratio

Categories reported

5 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $40,850
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

Participation rate

0.0%

0.0%0pp

Annual return

8.75%

18.61%-9.9pp

4.95%+3.8pp

9.30%-0.5pp

Employer contribution / active EE

$9,972

$11,871-16.0%

$20,917-52.3%

$12,551-20.5%

Participant deferral / active EE

$119-100.0%

$188-100.0%

$2,867-100.0%

Admin fee / account holder

Provider

Service type

Compensation

MFS INVESTMENT MANAGEMENT10+ years

Filed as: MFS HERITAGE TRUST COMPANY

Service code 28 · EIN 57-1187281

Investment Management

$567,597

MILLIMAN, INC.10+ years

Service code 11 · EIN 91-0675641

Actuarial

$550,353

BOSTON TRUST WALDEN COMPANY2 years

Filed as: BOSTON TRUST WALDEN INC

Service code 28 · EIN 04-3554611

Investment Management

$377,229

LOOMIS SAYLES10+ years

Filed as: LOOMIS SAYLES & COMPANY, L.P.

Service code 28 · EIN 04-3200030

Investment Management

$302,210

PIMCO FUNDS6 years

Filed as: PIMCO

Service code 28 · EIN 33-0629048

Investment Management

$282,363

DODGE & COX10+ years

Service code 28 · EIN 94-1441976

Investment Management

$255,657

THE BANK OF NEW YORK MELLON5 years

Filed as: U.S. BANK

Service code 21 · EIN 41-6271370

Bank Trustee

$142,807

CALLAN ASSOCIATES10+ years

Filed as: CALLAN ASSOCIATES, INC.

Service code 27 · EIN 94-2192581

Advisory (Plan)

$118,946

CLARK NUBER10+ years

Filed as: CLARK NUBER P.S.

Service code 10 · EIN 91-1194016

Accounting

$40,850

PERKINS COIE, LLP10+ years

Service code 29 · EIN 91-0591206

Legal

$26,964

RETIREMENT PLAN FOR EMPLOYEES OF PUGET SOUND ENERGY, INC.

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT PLAN FOR EMPLOYEES OF PUGET SOUND ENERGY, INC.

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion