How much does Gate Energy, Inc. contribute to its ESOP?

In 2024, employer contributions to the Gate Energy, Inc. plan averaged $8,367 per active participant, above the $540 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Gate Energy, Inc. 401(k)?

The average participant account balance was -$56,258 for plan year 2024, based on 262 accounts.

Gate Energy, Inc.ESOP

Name: Gate Energy, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

GATE ENERGY, INC. EMPLOYEE STOCK OWNERSHIP PLAN · HOUSTON, TX · plan year 2024

Employer contribution per participant · 2024

$8,367

Gate Energy, Inc.'s 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held -$14,739,586 across 262 participant accounts, with employer contributions averaging $8,367 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the under $1M size bracket, benchmarked here against 1,109 comparable plans and shown alongside other professional & technical services employers.

Plan summary
Net assets, end of year-$14,739,586
Participants with balances262
Active participants237
Employer contributions$1,982,916
Employee contributions—
Employer contribution per active participant$8,367
Average account balance-$56,258
Benefits paid to participants$20,233
Plan auditUnmodified (clean) audit opinion
AuditorHARPER & PEARSON COMPANY, P.C.

Plan history2

Yearassets · accounts · employer contribution

2024$-14.7M · 262 accts · $2.0M emplr

2023$-40.3M · 239 accts · $2.0M emplr

Employer contributions to the Gate Energy, Inc. plan · 2024

Employer contribution per active participant$8,367

Median for plans this size$540

2024$8,367 per active participant

2023$8,803 per active participant

Gate Energy, Inc.'s 2024 employer contribution ran above the $540 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history2

2024Not separately reported

2023Not separately reported

Why are you looking at this plan?

Compare

401(k) plans in Texas

Worked here before? Find your old 401(k)

401(k) plans in Professional & Technical Services

Fee benchmarks by plan size

Source: U.S. Department of Labor, Form 5500 series, EIN 926606884 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.