True Drilling LLC 401(k) Review & Grade
True Companies Employees' 401(k) Savings Plan
Casper, WYMining, Oil & Gas966 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,602Employer $ per active participant
$5,373Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$72.0MNet plan assets, end of year
$65,305Average balance per account
Score breakdown
- Employer generosity6.6 / 5013th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 88th |
| Employee saving | 32th |
| Peers that auto-enroll | 60% |
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 $75 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- True Drilling put in about $1,602 per active participant, below the typical peer ($4,357). 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 | $1,546,576 |
| Participant (employee) contributions | $5,187,425 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $31,537 |
| Benefits paid out | $8,438,300 |
| Net assets, start / end of year | $63.3M / $72.0M |
| Active participants, start / end of year | 965 / 966 |
| Participants with account balances | 1,103 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Eide Bailly LLP |
Largest service providers (Schedule C)
| Epic Retirement Plan Services | $31,428 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908181424NAL0019664545001, received 2025-09-08, EIN 83-0171045, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.