Teco Energy, Inc. 401(k) Review & Grade
Teco Energy Group Retirement Savings Plan
Tampa, FLManagement of Companies4,147 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,369Employer $ per active participant
$9,268Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$1.1BNet plan assets, end of year
$212,674Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost23.5 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 94th |
| Employee saving | 78th |
| Peers that auto-enroll | 58% |
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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
- Teco Energy put in about $6,369 per active participant, more than the typical peer ($3,455). 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 | $26,413,423 |
| Participant (employee) contributions | $38,435,883 |
| Other contributions (incl. rollovers in) | $5,045,583 |
| Administrative expenses paid from the plan | $231,095 |
| Other admin expenses | $3,000 |
| Benefits paid out | $137,262,696 |
| Net assets, start / end of year | $1.1B / $1.1B |
| Active participants, start / end of year | 4,089 / 4,205 |
| Participants with account balances | 5,319 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Ins Co of America | $228,095 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013115848NAL0000564979001, received 2025-10-13, EIN 59-2052286, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.