Northwestern Corporation 401(k) Review & Grade
Northwestern Energy 401(k) Retirement Savings Plan · d/b/a Northwestern Energy
Butte, MTUtilities1,580 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,934Employer $ per active participant
$10,965Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$512.8MNet plan assets, end of year
$252,223Average balance per account
Score breakdown
- Employer generosity37.2 / 5074th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving6.5 / 1543th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 84th |
| Employee saving | 43th |
| Peers that auto-enroll | 76% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Northwestern put in about $8,934 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 | $14,119,618 |
| Participant (employee) contributions | $17,330,440 |
| Other contributions (incl. rollovers in) | $2,361,559 |
| Administrative expenses paid from the plan | $289,934 |
| Investment advisory & management fees | $26,500 |
| Other admin expenses | $16,385 |
| Benefits paid out | $46,800,269 |
| Net assets, start / end of year | $462.7M / $512.8M |
| Active participants, start / end of year | 1,571 / 1,590 |
| Participants with account balances | 2,033 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $122,121 reported compensation |
| Strategic Advisors Inc | $72,992 reported compensation |
| Mercer Investments LLC | $39,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250813162503NAL0025898450001, received 2025-08-13, EIN 46-0172280, plan #103, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.