Texas › Utilities › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Axis Power LLC 401(k) Plan
Sponsored by Axis Power LLC, Beaumont, 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.
Axis Power LLC 401(k) Plan is a 401(k) plan sponsored by Axis Power LLC of Beaumont, Texas. For the plan year ending 31 Dec 2024 it reported 216 participants, 139 of them active, and net assets of $3.3M.
Net assets came to $15,245 per participant, well below the $60,185 median for defined contribution plans with 100 to 249 participants and well below 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 $508K during the year, or $3,652 per active participant against a same-size median of $2,447; participants contributed $900K and $125K arrived as rollovers and other contributions. Benefits paid out totalled $534K.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $34K: $156 per participant, below the same-size median of $194. Administrative expenses charged to the plan were $33K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $15,245 | $60,185 | $137,166 | $53,102 |
| Employer contributions per active participant | $3,652 | $2,447 | $5,334 | $2,175 |
| Schedule C compensation per participant | $156 | $194 | $145 | $123 |
| Schedule C compensation, share of net assets | 1.0% | 0.32% | 0.12% | 0.26% |
| Administrative expenses per participant | $152 | $176 | $139 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), utilities (393) and all US plans (63,460). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$2,033,689
- Employer contributions$507,587
- Participant contributions$899,643
- Rollovers and other contributions$125,301
- Total contributions$1,532,531
- Total income, including investment results$1,825,666
- Benefits paid$533,721
- Administrative expenses$32,756
- Total expenses$566,477
- Net income$1,259,189
- Net transfers$0
- Net assets, end of year$3,292,878
Participants
- Active participants139
- Retired or separated, receiving benefits10
- Retired or separated, entitled to future benefits67
- Participants with account balances205
- Total participants, end of year216
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Insurance Company | Recordkeeping fees | $17,237 | $0 |
| Edward D Jones & Co. LP | Investment advisory (plan) | $13,214 | $0 |
| Nova 401(k) Associates | Contract Administrator | $2,000 | $1,321 |
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
- Contract administrator fees$32,756
- Total administrative expenses$32,756
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.
- Registered investment companies (mutual funds)$3.2M · 97.9%
- Insurance company general account$70K · 2.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- 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
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 221100: Electric Power Generation, Transmission & Distribution.
Similar plans in Texas
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Municipal Operations & Consult 401(k) Profit Sharing Plan & Trust | Municipal Operations & Consult | 221 | $6.6M | $29,875 |
| Municipal District Services, LLC 401(k) Plan | Municipal District Services, LLC | 206 | $5.2M | $25,336 |
| Housley Communications Profit Sharing Plan and Trust | Housley Group, Inc. | 236 | $12.2M | $51,728 |
| Xri 401(k) Retirement Plan | Xri Services Co., LLC | 198 | $4.5M | $22,902 |
| Quality Water & Air Inc. 401(k) Retirement Plan | Quality Water & Air Inc. | 248 | $10.3M | $41,432 |
| Plus Power Services 401(k) Plan | Plus Power Services LLC | 193 | $7.8M | $40,575 |
Defined contribution plans in utilities closest in size.
Questions and answers
How big is Axis Power LLC 401(k) Plan?
216 participants at the end of the plan year ending 31 Dec 2024, of whom 139 were active employees, with net assets of $3,292,878. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Axis Power LLC contribute per participant?
The filing reports $507,587 in employer contributions for the year, which is $3,652 per active participant; the median for plans of the same type and size was $2,447 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 $33,772 in compensation to service provider organisations, $156 per participant or 1.0% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $32,756. 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 Axis Power LLC. Recordkeeping or administration: Empower Annuity Insurance Company and Nova 401(k) Associates. Investment advisory or management: Edward D Jones & Co. LP. 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 31 Jul 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 85-3214446, plan 001, received 31 Jul 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.