US Electrical Services 401(k) match, vesting and fees
What US Electrical Services' 401(k) plan says about matching contributions
The Company may, at its discretion, make matching contributions to the Plan. For the year ended December 31, 2024, the Company elected to make a matching contribution equal to 50% of the first 8% of eligible compensation that a participant contributed to the Plan.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 34 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees, with the exception of collective bargained employees, are automatically enrolled in the Plan unless they affirmatively elect not to participate. Automatically enrolled participants have their initial deferral rate set at 2% of eligible pre-tax compensation, which is automatically increased by 1% on an annual basis until the deferral rate reaches 8% of eligible compensation. Automatically enrolled participants have their contributions invested in a designated balanced fund until changed by the participant. | Audit report, p. 34 ↗ |
| Roth contributions | Eligible employees may elect to designate all or a portion of their salary deferral contributions as Roth contributions. | Audit report, p. 34 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the vested balance in the participant's account. The loan interest rate is set at 1% above the prime rate at the inception of the loan. | Audit report, p. 35 ↗ |
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Cohnreznick LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 348 defined-contribution plans in wholesale trade with 1,000 to 4,999 participants.
| US Electrical Services: employer contribution per participant | $2,383 | |
| Peer median | $2,066 |
| US Electrical Services: average balance | $89,504 | |
| Peer median | $77,876 |
| US Electrical Services: admin expenses ÷ assets | 0.21% | |
| Peer median | 0.14% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $131M at the end of plan year 2021 to $157M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,769 | $157M | $4.2M | $2,383 | 0.21% | Quoted in the audit report, p. 34 ↗ | Form 5500 ↗ |
| 2023 | 1,733 | $142M | $3.9M | $2,285 | 0.21% | Not published | Form 5500 ↗ |
| 2022 | 1,692 | $117M | $3.8M | $2,289 | 0.13% | Not published | Form 5500 ↗ |
| 2021 | 1,593 | $131M | $3.4M | $2,148 | 0.21% | Not published | Form 5500 ↗ |
Common questions
Does US Electrical Services match 401(k) contributions?
The audit report attached to the U. S. Electrical Services, Inc. 401(k) Plan's plan year 2024 Form 5500, page 34 says: “The Company may, at its discretion, make matching contributions to the Plan. For the year ended December 31, 2024, the Company elected to make a matching contribution equal to 50% of the first 8% of eligible compensation that a participant contributed to the Plan.” Plan terms may have changed; check your current Summary Plan Description.
When is the US Electrical Services 401(k) match vested?
The vesting schedule for the U. S. Electrical Services, Inc. 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the US Electrical Services 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is US Electrical Services, Inc..
I left US Electrical Services. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (US Electrical Services, Inc., (860) 548-3543) or the recordkeeper, Principal Life Insurance Company. The US Electrical Services old 401(k) page lists the contacts from every plan filing. Find an old US Electrical Services 401(k)
Data from the public Form 5500 annual reports US Electrical Services filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with US Electrical Services. Not financial advice. Report a correction · Methodology