True Companies Employees' 401(k) Savings Plan

401(k) · DOL Form 5500 · 2023

What the Filing Says About True Companies Employees' 401(k) Savings Plan

True Companies Employees' 401(k) Savings Plan is a 401(k) retirement plan sponsored by True Drilling LLC, headquartered in Wyoming. According to the U.S. Department of Labor's 2023 Form 5500 filing, the plan reports $63M in total end-of-year assets and covers 950 participants across the Mining & Oil Extraction industry. The sponsor's EIN on file with the U.S. Department of Labor is 830171045, and the plan has been effective since 1988-04-01. Its filing status is currently FILING RECEIVED.

Year over year, total assets grew sharply from $52M at the beginning of 2023 to $63M at year-end - up 22.2%. Net assets (after liabilities) closed the year at $63M, with reported net income of $12M driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.

Across the 3 plan years True Drilling LLC has on file with PlainRetire (2022-2024), sponsor-wide plan assets have moved from $163M to $211M, a gain of 29.6%, while reported participants moved from 1,492 to 1,738 (+16.5%). The strongest year on file by total sponsor assets was 2024 at $211M; the softest was 2022 at $163M. Year-by-year, sponsor-wide filings show: 2022 - $163M in assets across 2 plans covering 1,492 participants; 2023 - $190M in assets across 2 plans covering 1,741 participants; 2024 - $211M in assets across 2 plans covering 1,738 participants.

By assets, True Companies Employees' 401(k) Savings Plan outranks 88% of the 126,618 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 0.6x the national average plan size of $100M and 730 average participants.

Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows, a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.

How the percentile is calculated: we count every plan that filed a 2023 Form 5500 with a reported end-of-year asset figure (126,618 plans), rank True Companies Employees' 401(k) Savings Plan against all of them by total assets, and report the share of those plans it outranks. A plan reporting no asset figure for the year is excluded from the ranking rather than assumed to be zero.