California Independent System Operator Corporation 401(k) Review & Grade
California Iso Retirement Savings Benefits Plan
Folsom, CAUtilities724 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$21,869Employer $ per active participant
$17,874Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$443.3MNet plan assets, end of year
$466,641Average balance per account
Score breakdown
- Employer generosity49.3 / 5099th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score94 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 99th |
| Lower admin cost | 94th |
| Employee saving | 99th |
| Peers that auto-enroll | 76% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,804 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- California Independent System Operator put in about $21,869 per active participant, more than the typical peer ($6,264). 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 | $15,833,339 |
| Participant (employee) contributions | $12,940,737 |
| Other contributions (incl. rollovers in) | $2,214,222 |
| Administrative expenses paid from the plan | $109,081 |
| Investment advisory & management fees | $84,144 |
| Benefits paid out | $25,572,990 |
| Net assets, start / end of year | $385.1M / $443.3M |
| Active participants, start / end of year | 717 / 731 |
| Participants with account balances | 950 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $84,347 reported compensation |
| Brookstone Capital Management | $11,734 reported compensation |
| Talon Private Wealth LLC | $11,703 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251218100740NAL0002618915001, received 2025-12-18, EIN 94-3274043, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.