Ohio › Utilities › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Aep Retirement Savings 401(k) Plan
Sponsored by American Electric Power Service Corporation, Columbus, OH
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, Aep Retirement Savings 401(k) Plan covered 21,396 participants and held $5.22B in net assets. The plan is an ESOP with a 401(k) feature sponsored by American Electric Power Service Corporation of Columbus, Ohio.
Net assets came to $243,927 per participant, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $137,166 median for defined contribution plans in utilities. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $81.3M during the year, or $4,973 per active participant against a same-size median of $2,424; participants contributed $186M and $14.0M arrived as rollovers and other contributions. Benefits paid out totalled $900M.
Schedule C lists 14 service provider organisations paid $5,000 or more, with reported compensation of $7.0M: $326 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $7.0M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $2.98B in 2009 to $5.22B in 2024 (up 75%), and participants from 26,164 to 21,396 (down 18%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $243,927 | $64,499 | $137,166 | $53,102 |
| Employer contributions per active participant | $4,973 | $2,424 | $5,334 | $2,175 |
| Schedule C compensation per participant | $326 | $53.38 | $145 | $123 |
| Schedule C compensation, share of net assets | 0.13% | 0.09% | 0.12% | 0.26% |
| Administrative expenses per participant | $325 | $54.85 | $139 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), utilities (393) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 21,396 | $5.22B | $243,927 | $81.3M | $186M | $7.0M |
| 2023 | 22,387 | $5.19B | $231,953 | $86.8M | $198M | $6.3M |
| 2022 | 22,253 | $4.71B | $211,757 | $81.1M | $187M | $7.8M |
| 2021 | 21,792 | $5.72B | $262,702 | $78.6M | $183M | $7.3M |
| 2020 | 21,968 | $5.36B | $243,917 | $80.6M | $190M | $7.7M |
| 2019 | 22,490 | $4.96B | $220,720 | $75.8M | $176M | $7.2M |
| 2018 | 22,459 | $4.28B | $190,557 | $71.9M | $152M | $4.9M |
| 2017 | 22,461 | $4.66B | $207,655 | $74.3M | $170M | $7.5M |
| 2016 | 23,112 | $4.18B | $180,681 | $73.1M | $165M | $7.2M |
| 2015 | 23,228 | $4.01B | $172,719 | $72.4M | $164M | $7.9M |
| 2014 | 23,103 | $4.06B | $175,840 | $69.5M | $155M | $6.6M |
| 2013 | 23,168 | $3.80B | $163,983 | $65.7M | $146M | $8.0M |
| 2012 | 23,382 | $3.35B | $143,081 | $65.1M | $143M | $6.5M |
| 2011 | 24,102 | $3.02B | $125,427 | $63.4M | $138M | $6.7M |
| 2010 | 24,942 | $2.99B | $119,797 | $60.1M | $135M | $6.7M |
| 2009 | 26,164 | $2.98B | $113,954 | $72.0M | $160M | $5.9M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$5,192,732,921
- Employer contributions$81,284,557
- Participant contributions$186,285,552
- Rollovers and other contributions$14,047,511
- Total contributions$281,617,620
- Total income, including investment results$934,338,475
- Benefits paid$900,385,835
- Administrative expenses$6,963,194
- Total expenses$908,003,383
- Net income$26,335,092
- Net transfers$0
- Net assets, end of year$5,219,068,013
Participants
- Active participants16,345
- Retired or separated, receiving benefits1,359
- Retired or separated, entitled to future benefits3,235
- Participants with account balances21,069
- Total participants, end of year21,396
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Mellon Capital | Investment management | $1,370,663 | $0 |
| J.P. Morgan Investment Management | Investment advisory (plan); Investment management | $1,263,161 | $0 |
| Jennison Associates, LLC | Investment management | $662,133 | $0 |
| Wedge Capital Management | Investment management | $626,763 | $27,809 |
| Jackson Square | Investment management | $445,120 | $0 |
| Arrowmark Partners | Investment management; Securities brokerage | $444,342 | $0 |
| Bank of New York Mellon | Custodial (other than securities); Custodial (securities); Trustee (bank, trust company, or similar financial institution); Trustee (directed); Named fiduciary; Valuation (appraisals, etc.); Other services | $437,500 | $0 |
| Boston Partners | Investment management | $408,230 | $22,491 |
| Galliard Capital Management, Inc. | Investment management | $384,530 | $0 |
| Sound Shore Management, Inc. | Investment management | $354,697 | $0 |
| Empower Retirement | Recordkeeping and information management; Participant communication; Other services | $266,333 | $0 |
| Aon Investments USA Inc. | Consulting (general); Investment advisory (plan) | $139,050 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 2 smaller rows are not shown. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$6,251,528
- Trustee and custodial fees$350,000
- Recordkeeping fees$242,677
- IQPA audit fees$104,424
- Contract administrator fees$12,540
- Legal fees$2,025
- Total administrative expenses$6,963,194
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$3.73B · 71.8%
- Corporate stocks$555M · 10.7%
- Employer securities$254M · 4.9%
- Corporate debt instruments$214M · 4.1%
- U.S. Government securities$194M · 3.7%
- Registered investment companies (mutual funds)$143M · 2.7%
- Participant loans$60.4M · 1.2%
- Cash (interest and non-interest bearing)$44.8M · 0.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBDO USA, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $35,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2OESOP other than a leveraged ESOP2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group2EProfit-sharing plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 221100: Electric Power Generation, Transmission & Distribution.
Other plans of American Electric Power Service Corporation
| Plan | Participants | Net assets |
|---|---|---|
| American Electric Power System Retirement Plan | 32,548 | $4.00B |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Firstenergy Corp. Savings Plan | Firstenergy Corp. | 16,218 | $4.22B | $259,902 |
| Igs Energy 401(k) Plan | Interstate Gas Supply, LLC | 1,746 | $129M | $73,760 |
| Employees' Thrift Plan of Indianapolis Power & Light Company | Indianapolis Power & Light Company | 1,082 | $227M | $210,146 |
| Supplemental Pension & Savings Plan for Ees of Ohio Valley Electric Corp. and Indiana-Kentucky Electric Corp. | Ohio Valley Electric Corporation | 641 | $150M | $233,943 |
| Cardinal Operating Company 401(k) Plan | Cardinal Operating Company | 279 | $70.7M | $253,480 |
| Utility Pipeline, Ltd. 401(k) Profit Sharing Plan | Utility Pipeline, Ltd. | 174 | $11.5M | $65,909 |
Defined contribution plans in utilities closest in size.
Questions and answers
How big is Aep Retirement Savings 401(k) Plan?
21,396 participants at the end of the plan year ending 31 Dec 2024, of whom 16,345 were active employees, with net assets of $5,219,068,013. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does American Electric Power Service Corporation contribute per participant?
The filing reports $81,284,557 in employer contributions for the year, which is $4,973 per active participant; the median for plans of the same type and size was $2,424 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $6,968,136 in compensation to service provider organisations, $326 per participant or 0.13% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $6,963,194. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is American Electric Power Service Corporation. Recordkeeping or administration: Empower Retirement. Investment advisory or management: Mellon Capital, J.P. Morgan Investment Management and Jennison Associates, LLC. Trustee or custodian: Bank of New York Mellon. The financial statements were audited by BDO USA, P.C.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 13 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 13-4922641, plan 002, received 13 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.