Chesapeake Energy in Oklahoma City might be struggling to avoid bankruptcy, but a new SEC filing shows its employee savings plan appears to be healthy.
The Form 11-K filed this past week by the company showed 2019 investments under the company’s Savings and Incentive Stock Bonus plan totaled $603,404,022 at the end of 2019, an increase from the $513,641,672 reported at the end of 2018.
Investment income as of Dec. 31, 2019 totaled $98,740,191. Contributions from the company totaled more than $29 million while the contributions from employees were more than $30 million. Total contributions were $62,146,491.
Under the savings plan, Chesapeake matches 100% of participant contributions up to 15% of participant eligible compensation, which is what many companies follow.