Conocophillips Company 401(k) Review & Grade
Conocophillips Savings Plan
Houston, TXMining, Oil & Gas6,745 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$22,557Employer $ per active participant
$18,984Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$6.7BNet plan assets, end of year
$509,447Average balance per account
Score breakdown
- Employer generosity49.9 / 50100th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving14.8 / 1599th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score89 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 100th |
| Lower admin cost | 95th |
| Employee saving | 99th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $271,531 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Conocophillips put in about $22,557 per active participant, more than the typical peer ($2,062). 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.
- 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 | $152,149,304 |
| Participant (employee) contributions | $128,049,396 |
| Other contributions (incl. rollovers in) | $25,652,819 |
| Administrative expenses paid from the plan | $1,208,363 |
| Investment advisory & management fees | $1,155,246 |
| Other admin expenses | $4,169 |
| Benefits paid out | $775,552,107 |
| Net assets, start / end of year | $6.8B / $6.7B |
| Active participants, start / end of year | 6,596 / 6,894 |
| Participants with account balances | 13,168 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young |
| Employer stock held by plan | $942,365,710 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $1,155,246 reported compensation |
| Fidelity Investments Institutional | $48,948 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009103249NAL0006451185001, received 2025-10-09, EIN 73-0400345, plan #022, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.