SOUTHWEST GAS CORP 401(k): Fidelity, match 7% max
Southwest Gas Corporation Employees’ Investment Plan · CIK 92416
Fidelity Investments is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
Maximum employer match, as a share of pay
7%
SOUTHWEST GAS CORP matches 100% (dollar-for-dollar) of the first 7% of pay.
From the Form 11-K filed June 25, 2025 ↗, covering the plan year ended December 31, 2024. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · what it used to be · when the money becomes yours · who can join · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What SOUTHWEST GAS puts in, and what the plan costs
What SOUTHWEST GAS put into the plan, per active participant
$3,974
SOUTHWEST GAS CORP put $3,974 into this plan for each of its 2,450 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
SOUTHWEST GAS put in less per active participant than 76% of plans with 1,000–4,999 participants at utilities. The middle plan in that group of 80 reported $6,417. Utilities comes from business code 221210, which SOUTHWEST GAS entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much SOUTHWEST GAS pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 880085720, plan 004 · DOL EFAST2 ↗
The $3,974 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. SOUTHWEST GAS CORP also files a Form 11-K, which states the match formula for plan year 2024: the card below reads $3,465 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures measure different things, so neither one is the other one corrected.
What SOUTHWEST GAS puts in
$3,465
a year, at a $49,500 salary.
The match paragraph, word for word
“Participants may contribute from 2% to 75% of their annual base wages. However, contributions may not exceed amounts promulgated by the IRC. For participants hired prior to January 1, 2022, the Company contributes to the Plan an amount equal to 50% of a participant’s contribution. The Company’s maximum contribution in this case is 3.5% of a participant’s annual base compensation as defined in the Plan document. For participants hired on or after January 1, 2022, the Company makes a 3% non-elective contribution (effective upon hire), plus a matching contribution (dollar-for-dollar) for every dollar saved up to 7% of eligible compensation, bringing the maximum Company contribution up to 10% as defined in the Plan. Deferral percentages elected by participants are also applied to overtime earnings; however, deferral of such earnings is not matched by the Company. Roth contributions are eligible for Company matching contributions.”
What you contribute to collect all of it
Contribute at least 7% of your pay to collect the full match.
That is $3,465 a year at a $49,500 salary, and it scales with your own.
Vesting score
57.14 out of 100
How fast the employer’s money becomes yours. Higher than 5% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 0%, 20%, 40%, 60%, 80%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Vesting in the contributions made by the Company and in the earnings thereon is based on years of continuous service. Participants are fully vested in dividends paid in the Southwest Gas Stock Fund (“Southwest Gas Stock Fund”) without regard to whether the participant is vested in the Company Common Stock with respect to which the dividend is paid. The following table shows the vesting schedule of Company contributions and the earnings thereon (other than dividends on the Southwest Gas Stock Fund). Vested Years of Service Percentage One but less than two 20 Two but less than three 40 Three but less than four 60 Four but less than five 80 Five and over 100 In the event of death, attainment of age 65, total disability of a participant, or Plan termination, Company contributions become fully vested irrespective of the years of service. Forfeitures as a result of a participant’s termination prior to vesting, that are not utilized to restore prior benefits or to pay benefits to previously unlocated participants and beneficiaries, are reallocated to the remaining participants on a quarterly basis based on the employer contribution ratio. For the years ended December 31, 2024 and 2023, forfeitures of non-vested accounts reallocated to participants were approximately $293,000 and $177,000, respectively.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
53rd percentile
$90.32 per participant in plan-paid administrative cost, more expensive than 53% of plans with 1,000–4,999 participants.
What is SOUTHWEST GAS' 401(k) match formula?
SOUTHWEST GAS' 401(k) employer match tops out at 7% of pay. One rate up to one limit is the commonest of the four shapes a match formula takes.
| Match formula | 100% (dollar-for-dollar) of the first 7% of pay |
|---|---|
| Maximum employer match | 7% of compensation |
| Conditions | Formula depends on hire date. Participants hired on or after January 1, 2022 receive the 3% non-elective plus dollar-for-dollar match up to 7% of eligible compensation (max Company contribution 10%); participants hired prior to January 1, 2022 receive 50% match only (max Company contribution 3.5%). Deferral of overtime earnings is not matched by the Company. |
| Current formula effective | January 1, 2022 |
| Other employer contribution | For participants hired on or after January 1, 2022, the Company makes a 3% non-elective contribution (effective upon hire), bringing the maximum Company contribution up to 10% |
At a $45,000 salary, contributing 7% ($3,150) earns the full employer match of $3,150 for the year.
What the filing says, word for word
“Participants may contribute from 2% to 75% of their annual base wages. However, contributions may not exceed amounts promulgated by the IRC. For participants hired prior to January 1, 2022, the Company contributes to the Plan an amount equal to 50% of a participant’s contribution. The Company’s maximum contribution in this case is 3.5% of a participant’s annual base compensation as defined in the Plan document. For participants hired on or after January 1, 2022, the Company makes a 3% non-elective contribution (effective upon hire), plus a matching contribution (dollar-for-dollar) for every dollar saved up to 7% of eligible compensation, bringing the maximum Company contribution up to 10% as defined in the Plan. Deferral percentages elected by participants are also applied to overtime earnings; however, deferral of such earnings is not matched by the Company. Roth contributions are eligible for Company matching contributions.”
Source: Form 11-K filed June 25, 2025, SEC EDGAR · SEC ↗
What did SOUTHWEST GAS' 401(k) match used to be?
SOUTHWEST GAS changed its 401(k) match on January 1, 2022. The formula in force now is 100% (dollar-for-dollar) of the first 7% of pay.
| Since January 1, 2022 | 100% (dollar-for-dollar) of the first 7% of pay |
|---|---|
| Before | A separate formula continues to apply to participants hired prior to January 1, 2022: Company contributes an amount equal to 50% of a participant's contribution, with maximum Company contribution of 3.5% of the participant's annual base compensation (no 3% non-elective contribution for this group). |
What is SOUTHWEST GAS' 401(k) vesting schedule?
SOUTHWEST GAS vests the employer match on a graded schedule: 20% after one year, rising to 100% after five. Each step is money that leaves with you that year, which is how a graded schedule differs from a cliff.
| Employer match vesting | Graded: 20% at 1 yr, 40% at 2 yr, 60% at 3 yr, 80% at 4 yr, 100% at 5 yr |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Accelerated vesting | death, attainment of age 65, total disability of a participant, or Plan termination |
Vesting, word for word
“Participants are immediately vested in their voluntary contributions plus actual earnings thereon. Vesting in the contributions made by the Company and in the earnings thereon is based on years of continuous service. Participants are fully vested in dividends paid in the Southwest Gas Stock Fund (“Southwest Gas Stock Fund”) without regard to whether the participant is vested in the Company Common Stock with respect to which the dividend is paid. The following table shows the vesting schedule of Company contributions and the earnings thereon (other than dividends on the Southwest Gas Stock Fund). Vested Years of Service Percentage One but less than two 20 Two but less than three 40 Three but less than four 60 Four but less than five 80 Five and over 100 In the event of death, attainment of age 65, total disability of a participant, or Plan termination, Company contributions become fully vested irrespective of the years of service. Forfeitures as a result of a participant’s termination prior to vesting, that are not utilized to restore prior benefits or to pay benefits to previously unlocated participants and beneficiaries, are reallocated to the remaining participants on a quarterly basis based on the employer contribution ratio. For the years ended December 31, 2024 and 2023, forfeitures of non-vested accounts reallocated to participants were approximately $293,000 and $177,000, respectively.”
Source: Form 11-K filed June 25, 2025, SEC EDGAR · SEC ↗
Who can join SOUTHWEST GAS' 401(k), and is enrollment automatic?
SOUTHWEST GAS enrolls new hires automatically; the filing does not state the default deferral rate.
| Automatic enrollment | Yes: 30-day opt-out window |
|---|
Automatic enrollment, word for word
“New employees are automatically enrolled in the Plan after 30 days unless they elect not to participate.”
Source: Form 11-K filed June 25, 2025, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Fidelity Investments, filed as “FIDELITY INVESTMENTS INSTITUTIONAL”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
10,593 plans on file name Fidelity Investments as their recordkeeper. Of those, the 10,022 with a computable fee have a median plan-paid cost of $97.71 per participant.
Participants log in at Fidelity NetBenefits ↗. 401(k) Monitor is not affiliated with Fidelity Investments or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Fidelity Investments |
|---|---|
| Recordkeeper EIN | 042647786 |
What does the SOUTHWEST GAS plan report on Form 5500?
The SOUTHWEST GAS plan reported $599.9M in assets and 2,900 participants for plan year 2024.
| Total plan assets | $599,930,744 |
|---|---|
| Participants | 2,900 |
| Plan-paid admin cost per participant | $90.32 |
How that cost compares
This plan pays $90.32 per participant. The median across plans at utilities is $138.21, from the 387 of 407 whose Form 5500 yields a per-participant cost.
Read from the Form 5500 filing of Southwest Gas Corporation Employees' Investment Plan, which has no page of its own here.
How does SOUTHWEST GAS' 401(k) match compare?
SOUTHWEST GAS CORP's maximum 401(k) match of 7% of pay compares with a median of 4% across the 269 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file at utilities, two report the same recordkeeper and one vests on the same schedule.
Maximum match 6% of pay. Also at utilities.
Employer match vests in full after 3 years. Also at utilities.
Maximum match 6% of pay. Also at utilities.
Maximum match 7% of pay. Same recordkeeper, Fidelity Investments.
Maximum match 7.02% of pay. Same recordkeeper, Fidelity Investments.
Maximum match 9.3% of pay. Also fully vested after 5 years, like SOUTHWEST GAS.
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 25, 2025, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
Questions this filing answers
What is SOUTHWEST GAS CORP's 401(k) match?
Southwest Gas Corp matches 100% of employee contributions up to 7% of eligible pay (plan year ended December 31, 2024).
When does the SOUTHWEST GAS CORP 401(k) match vest?
Graded: 20% at 1 yr, 40% at 2 yr, 60% at 3 yr, 80% at 4 yr, 100% at 5 yr.
Does SOUTHWEST GAS CORP's 401(k) plan have automatic enrollment?
Yes: 30-day opt-out window.
Who is the recordkeeper for SOUTHWEST GAS CORP's 401(k)?
Fidelity Investments is named as the recordkeeper on the Form 5500 filed for Southwest Gas Corporation Employees' Investment Plan for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to.
Did SOUTHWEST GAS CORP change its 401(k) match?
Yes. A separate formula continues to apply to participants hired prior to January 1, 2022: Company contributes an amount equal to 50% of a participant's contribution, with maximum Company contribution of 3.5% of the participant's annual base compensation (no 3% non-elective contribution for this group). The current terms took effect January 1, 2022.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that SOUTHWEST GAS CORP filed with the US Securities and Exchange Commission for the plan year ended December 31, 2024. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | SOUTHWEST GAS CORP |
| SEC CIK | 92416 |
| Accession number | 0001692115-25-000127 |
| Plan | Southwest Gas Corporation Employees’ Investment Plan |
| Period of report | December 31, 2024 |
| Filed | June 25, 2025 |
401(k) Monitor is not affiliated with SOUTHWEST GAS CORP, with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “SOUTHWEST GAS CORP 401(k) plan facts”, from SEC Form 11-K accession 0001692115-25-000127, plan year ended December 31, 2024.
