Pine Gate Renewables, LLC 401(k) Review & Grade
Pine Gate Blue Ridge 401(k) Plan
Asheville, NCUtilities1,040 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,252Employer $ per active participant
$8,024Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$48.0MNet plan assets, end of year
$40,610Average balance per account
Score breakdown
- Employer generosity7.4 / 5015th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Utilities plans with 500–2,499 active participants (75 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 45th |
| Employee saving | 26th |
| 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
Corrective distributions: the plan refunded $535 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pine Gate Renewables put in about $3,252 per active participant, below the typical peer ($6,264). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $3,383,457 |
| Participant (employee) contributions | $8,348,932 |
| Other contributions (incl. rollovers in) | $2,282,461 |
| Administrative expenses paid from the plan | $115,036 |
| Benefits paid out | $10,754,925 |
| Net assets, start / end of year | $39.1M / $48.0M |
| Active participants, start / end of year | 1,144 / 937 |
| Participants with account balances | 1,183 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $103,512 reported compensation |
| Empower Financial Services, Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002161602NAL0000419891001, received 2025-10-02, EIN 35-2564063, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.