California › Utilities › 1,000 to 4,999 participants
Form 5500 statement · plan year 31 Dec 2024 to 30 Dec 2025
Golden State Water Company Investment Incentive Program
Sponsored by Golden State Water Company, San Dimas, CA
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.
Golden State Water Company Investment Incentive Program is a 401(k) plan sponsored by Golden State Water Company of San Dimas, California. For the plan year ending 30 Dec 2025 it reported 1,286 participants, 893 of them active, and net assets of $234M.
Net assets came to $182,103 per participant, well above the $50,261 median for defined contribution plans with 1,000 to 4,999 participants and well above the $137,973 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 $6.1M during the year, or $6,865 per active participant against a same-size median of $2,042; participants contributed $7.7M and $1.0M arrived as rollovers and other contributions. Benefits paid out totalled $17.7M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $321K: $250 per participant, well above the same-size median of $82.05. Administrative expenses charged to the plan were $322K. 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 $61.5M in 2009 to $234M in 2024 (up 281%), and participants from 727 to 1,286 (up 77%).
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 | $182,103 | $50,261 | $137,973 | $53,089 |
| Employer contributions per active participant | $6,865 | $2,042 | $5,355 | $2,174 |
| Schedule C compensation per participant | $250 | $82.05 | $145 | $123 |
| Schedule C compensation, share of net assets | 0.14% | 0.17% | 0.12% | 0.26% |
| Administrative expenses per participant | $250 | $82.08 | $139 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,229 plans), utilities (393) and all US plans (63,607). 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 | 1,286 | $234M | $182,103 | $6.1M | $7.7M | $321K |
| 2023 | 1,246 | $210M | $168,280 | $5.7M | $7.1M | $394K |
| 2022 | 1,198 | $192M | $159,896 | $5.1M | $6.6M | $341K |
| 2021 | 1,184 | $172M | $145,468 | $4.9M | $6.2M | $309K |
| 2020 | 1,202 | $219M | $182,610 | $4.8M | $6.2M | $345K |
| 2019 | 1,178 | $196M | $166,193 | $4.6M | $5.7M | $286K |
| 2018 | 1,178 | $186M | $158,154 | $4.3M | $5.5M | $283K |
| 2017 | 1,136 | $158M | $139,102 | $3.7M | $5.1M | $302K |
| 2016 | 1,017 | $157M | $153,900 | $3.5M | $4.8M | $162K |
| 2015 | 956 | $129M | $135,407 | $3.2M | $4.4M | $41K |
| 2014 | 847 | $114M | $134,806 | $2.5M | $3.8M | $70K |
| 2013 | 823 | $101M | $122,480 | $2.4M | $3.8M | $63K |
| 2012 | 792 | $83.9M | $105,891 | $2.2M | $3.8M | $63K |
| 2011 | 782 | $71.9M | $91,889 | $2.0M | $3.7M | $42K |
| 2010 | 750 | $69.3M | $92,428 | $1.9M | $3.5M | $13K |
| 2009 | 727 | $61.5M | $84,567 | $1.8M | $3.4M | $7,000 |
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$209,677,429
- Employer contributions$6,130,454
- Participant contributions$7,651,470
- Rollovers and other contributions$1,033,285
- Total contributions$14,815,209
- Total income, including investment results$42,545,628
- Benefits paid$17,672,585
- Administrative expenses$321,904
- Total expenses$18,038,313
- Net income$24,507,315
- Net transfers$0
- Net assets, end of year$234,184,744
Participants
- Active participants893
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits390
- Participants with account balances1,278
- Total participants, end of year1,286
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock | Recordkeeping and information management; Participant loan processing | $188,371 | $0 |
| Mercer Investment Management | Investment advisory (plan) | $110,973 | $0 |
| BDO USA, P.C | Accounting (including auditing) | $14,000 | $0 |
| Winston & Strawn LLP | Legal | $7,860 | $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
- Contract administrator fees$164,289
- Investment advisory and management fees$135,755
- IQPA audit fees$14,000
- Legal fees$7,860
- Total administrative expenses$321,904
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$201M · 85.7%
- Employer securities$25.1M · 10.7%
- Registered investment companies (mutual funds)$4.1M · 1.7%
- Participant loans$3.3M · 1.4%
- Cash (interest and non-interest bearing)$1.1M · 0.5%
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, $5,000,000
- 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
2EProfit-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 account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 221300: Water, Sewage & Other Systems.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| California Water Service Company Savings Plan | California Water Service Company | 1,563 | $389M | $249,117 |
| Clearway Energy Group LLC Employee Savings Plan | Clearway Energy Group LLC | 1,192 | $151M | $126,832 |
| Edf Renewables 401(k) Plan | Edf Renewables | 2,231 | $223M | $99,896 |
| Pattern Energy Group 401(k) Plan | Pattern Energy Group Services LP | 1,028 | $131M | $127,218 |
| Western Oilfields Supply Company 401(K)/PROFIT Sharing Plan | Western Oilfields Supply Company | 2,417 | $216M | $89,386 |
| California Iso Retirement Savings Benefits Plan | California Independent System Operator Corporation | 971 | $513M | $528,327 |
Defined contribution plans in utilities closest in size.
Questions and answers
How big is Golden State Water Company Investment Incentive Program?
1,286 participants at the end of the plan year ending 30 Dec 2025, of whom 893 were active employees, with net assets of $234,184,744. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,229 plans in plan year 2024.
What does Golden State Water Company contribute per participant?
The filing reports $6,130,454 in employer contributions for the year, which is $6,865 per active participant; the median for plans of the same type and size was $2,042 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 $321,204 in compensation to service provider organisations, $250 per participant or 0.14% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.05 per participant. Administrative expenses on Schedule H were $321,904. 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 Golden State Water Company. Recordkeeping or administration: John Hancock. Investment advisory or management: Mercer Investment Management. 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 31 Dec 2024 to 30 Dec 2025, received by the Department of Labor on 9 Sep 2026. 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 Sep 2026. This page shows the latest filing on record for EIN 95-1243678, plan 005, received 9 Sep 2026; 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.