Texas › Utilities › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Retirement Income Plan for Employees of El Paso Electric Company
Sponsored by El Paso Electric Company, El Paso, TX
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, Retirement Income Plan for Employees of El Paso Electric Company covered 2,465 participants and held $278M in net assets. The plan is a cash balance pension plan sponsored by El Paso Electric Company of El Paso, Texas.
Net assets came to $112,787 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $187,668 median for defined benefit 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.
Employer contributions were $6.2M for the year ($5,404 per active participant) and benefits paid were $21.5M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $317K: $129 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $1.3M. 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 $156M in 2009 to $278M in 2024 (up 78%), and participants from 1,806 to 2,465 (up 36%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $112,787 | $87,935 | $187,668 | $86,221 |
| Employer contributions per active participant | $5,404 | $10,593 | $12,900 | $10,244 |
| Schedule C compensation per participant | $129 | $325 | $468 | $344 |
| Schedule C compensation, share of net assets | 0.11% | 0.41% | 0.27% | 0.42% |
| Administrative expenses per participant | $507 | $513 | $804 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), utilities (175) and all US plans (5,308). 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 | 2,465 | $278M | $112,787 | $6.2M | $265K | $317K |
| 2023 | 2,397 | $278M | $116,083 | $2.9M | $227K | $890K |
| 2022 | 2,396 | $271M | $113,285 | $2.1M | $215K | $1.2M |
| 2021 | 2,295 | $389M | $169,673 | $7.8M | $76K | $1.5M |
| 2020 | 2,281 | $375M | $164,538 | $7.5M | $10K | $1.5M |
| 2019 | 2,245 | $327M | $145,567 | $7.3M | — | $1.4M |
| 2018 | 2,180 | $272M | $124,998 | $7.3M | — | $1.4M |
| 2017 | 2,177 | $304M | $139,654 | $7.3M | — | $1.4M |
| 2016 | 2,145 | $269M | $125,612 | $7.3M | — | $1.3M |
| 2015 | 2,100 | $260M | $123,669 | $9.0M | — | $1.4M |
| 2014 | 2,055 | $273M | $132,647 | $9.0M | — | $1.4M |
| 2013 | 1,937 | $258M | $132,947 | $15.0M | — | $1.0M |
| 2012 | 1,871 | $220M | $117,809 | $18.0M | — | $660K |
| 2011 | 1,859 | $191M | $102,870 | $12.0M | — | $736K |
| 2010 | 1,837 | $172M | $93,675 | $6.8M | — | $646K |
| 2009 | 1,806 | $156M | $86,342 | $9.8M | — | $441K |
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$278,249,603
- Employer contributions$6,247,096
- Participant contributions$264,908
- Rollovers and other contributions—
- Total contributions$6,512,004
- Total income, including investment results$22,489,329
- Benefits paid$21,468,231
- Administrative expenses$1,250,597
- Total expenses$22,718,828
- Net income−$229,499
- Net transfers$0
- Net assets, end of year$278,020,104
Participants
- Active participants1,156
- Retired or separated, receiving benefits818
- Retired or separated, entitled to future benefits372
- Total participants, end of year2,465
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| State Street Global Advisors Trust | Investment management | $197,739 | $0 |
| Income Research + Management | Investment management | $89,183 | $0 |
| State Street Bank and Trust Company | Trustee (bank, trust company, or similar financial institution) | $30,000 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 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
- Other administrative expenses$907,477
- Investment advisory and management fees$162,540
- Trustee and custodial fees$122,256
- Contract administrator fees$58,324
- Total administrative expenses$1,250,597
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$210M · 75.4%
- Registered investment companies (mutual funds)$55.5M · 19.9%
- Cash (interest and non-interest bearing)$11.5M · 4.1%
- Receivables$1.6M · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWeaver and Tidwell LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
1ABenefits are primarily pay related1CCash balance or similar plan1ECode section 401(h) arrangement
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 El Paso Electric Company
| Plan | Participants | Net assets |
|---|---|---|
| El Paso Electric Company Savings Plan | 1,348 | $241M |
Similar plans in Texas
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Talen Energy Retirement Plan | Talen Energy Supply, LLC | 3,075 | $771M | $250,860 |
| Dynegy Pension Plan | Vistra Operations Company LLC | 2,279 | $206M | $90,422 |
| Atmos Energy Corporation Pension Account Plan | Atmos Energy Corporation | 4,129 | $580M | $140,353 |
| STP Nuclear Operating Company Retirement Plan | STP Nuclear Operating Company | 1,146 | $400M | $348,746 |
| Kinder Morgan Retirement Plan a | Kinder Morgan, Inc. | 8,636 | $1.17B | $135,844 |
| Talen Montana Retirement Plan | Talen Montana LLC | 735 | $207M | $281,924 |
Defined benefit plans in utilities closest in size.
Questions and answers
How big is Retirement Income Plan for Employees of El Paso Electric Company?
2,465 participants at the end of the plan year ending 31 Dec 2024, of whom 1,156 were active employees, with net assets of $278,020,104. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does El Paso Electric Company contribute per participant?
The filing reports $6,247,096 in employer contributions for the year, which is $5,404 per active participant; the median for plans of the same type and size was $10,593 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 $316,922 in compensation to service provider organisations, $129 per participant or 0.11% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,250,597. 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 El Paso Electric Company. Investment advisory or management: State Street Global Advisors Trust and Income Research + Management. Trustee or custodian: State Street Bank and Trust Company. The financial statements were audited by Weaver and Tidwell LLP. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 25 Sep 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 74-0607870, plan 001, received 25 Sep 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.