Baker Hughes Holdings LLC 401(k) Review & Grade
Baker Hughes Company 401(k) Plan
Houston, TXMining, Oil & Gas12,134 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,743Employer $ per active participant
$10,762Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$4.0BNet plan assets, end of year
$183,211Average balance per account
Score breakdown
- Employer generosity46.1 / 5092th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score88 / 100 · Grade A
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 | 77th |
| Employee saving | 83th |
| 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
- Baker Hughes Holdings put in about $8,743 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.
- 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 | $106,085,405 |
| Participant (employee) contributions | $130,581,507 |
| Other contributions (incl. rollovers in) | $16,123,557 |
| Administrative expenses paid from the plan | $1,610,269 |
| Contract administrator fees | $827,072 |
| Investment advisory & management fees | $226,104 |
| Other admin expenses | $168,169 |
| Benefits paid out | $509,999,040 |
| Net assets, start / end of year | $3.7B / $4.0B |
| Active participants, start / end of year | 12,561 / 11,706 |
| Participants with account balances | 21,910 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Weaver and Tidwell, LLP |
Largest service providers (Schedule C)
| Great-West Life & Annuity Insurance | $827,072 reported compensation |
| Mercer | $233,919 reported compensation |
| Northern Trust Company | $226,104 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014093321NAL0001173635004, received 2025-10-14, EIN 76-0207995, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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