BP Corporation North America Inc. 401(k) Review & Grade
BP Employee Savings Plan
Houston, TXManufacturing9,318 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$13,692Employer $ per active participant
$23,157Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$8.3BNet plan assets, end of year
$417,694Average balance per account
Score breakdown
- Employer generosity49.4 / 5099th percentile for employer $ per participant
- Low cost24.5 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving15.0 / 15100th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score99 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 98th |
| Employee saving | 100th |
| Peers that auto-enroll | 70% |
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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
- BP Corporation North America put in about $13,692 per active participant, more than the typical peer ($3,452). 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 | $127,580,712 |
| Participant (employee) contributions | $215,778,286 |
| Other contributions (incl. rollovers in) | $26,628,108 |
| Administrative expenses paid from the plan | $633,355 |
| Investment advisory & management fees | $558,155 |
| Benefits paid out | $773,944,278 |
| Net assets, start / end of year | $7.7B / $8.3B |
| Active participants, start / end of year | 9,303 / 9,333 |
| Participants with account balances | 19,784 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $558,155 reported compensation |
| Fidelity Investments Operations | $75,200 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008152237NAL0005756129001, received 2025-10-08, EIN 36-1812780, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.