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Atmos Energy 401(k) retirement plan: the investment options
Does your 401(k) vote the way you would? $560m of the $1.14bn in the Atmos Energy plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.
The question on the ballot
As filed
Atmos Energy 401(k) match and balances, from the filing
- Company money in
- about $5,280 per active participant
- $28m in plan year 2024
- Employees saved
- about $7,580 each
- $40m in plan year 2024
- Average balance
- $183,800
- 6,183 people with a balance
- In the plan
- $1.14bn
- at the end of plan year 2024
Company money is the match plus any other employer contributions, averaged over all 5,287 active participants, including anyone who did not contribute. The filing reports dollars, not the match formula; the plan’s summary plan description states the formula.
SourceThe plan’s annual report to the Department of Labor — Form 5500, Schedule H, plan year 2024 · filed by ATMOS ENERGY CORPORATION as “ATMOS ENERGY CORPORATION RETIREMENT SAVINGS PLAN AND TRUST” · EIN 751743247, plan number 002 · search the filings
The Atmos Energy 401(k) holds $1.14bn. Of the $560m we could identify from the plan’s own filing, every dollar sits in a fund that publishes no record of how it voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.
SourceAtmos Energy’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing
| What the plan holds | Vehicle | Voting record | Value |
|---|---|---|---|
| Atmos Energy Corporationlisted as “Common stock 1,852,747 shares **” | Employer stock | Voted by the plan trustee | $258m |
| Vanguard Group, Inc.listed as “Vanguard Institutional Index Fund **” | Not identified from the filing | Not counted either way | $94m |
| J.P. Morganlisted as “JPMorgan Large Cap Growth Fund **” | Not identified from the filing | Not counted either way | $75m |
| T. Rowe Price Trust Companylisted as “Mid-Cap Value Fund I Class **” | Collective trust or separate account | NONE | $52m |
| T. Rowe Price Trust Companylisted as “Retirement 2050 Fund I Class **” | Collective trust or separate account | NONE | $48m |
| T. Rowe Price Trust Companylisted as “Retirement 2045 Fund I Class **” | Collective trust or separate account | NONE | $48m |
| T. Rowe Price Trust Companylisted as “Equity Income Fund I Class **” | Collective trust or separate account | NONE | $44m |
| T. Rowe Price Trust Companylisted as “Retirement 2055 Fund I Class **” | Collective trust or separate account | NONE | $43m |
| T. Rowe Price Trust Companylisted as “Stable Value Common Trust Fund **” | Collective trust or separate account | NONE | $42m |
| T. Rowe Price Trust Companylisted as “New Horizons Fund I Class **” | Collective trust or separate account | NONE | $41m |
| T. Rowe Price Trust Companylisted as “Retirement 2035 Fund I Class **” | Collective trust or separate account | NONE | $41m |
| Vanguard Group, Inc.listed as “Total Bond Market Index Institutional Fund **” | Bonds | No shares to vote | $38m |
The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.
Why there is nothing to show
A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.
So the shares bought with Atmos Energy employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Atmos Energy; it is what the disclosure rules currently require, which is to say: nothing.
What you can do
Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.
See how funds that do publish voted →
CoverageWe classified 79.1% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.
Other employer plans
The largest employer plans on the site, and a few more. Each page shows what the plan’s funds did with the shares its savers paid for.