Aaron's 401(k) match, vesting and fees
What Aaron's' 401(k) plan says about matching contributions
After one year of service with a minimum of 1,000 hours of service, the Company provides a safe harbor match equal to 100% of the first 3% and 50% of the next 2% of the elective before-tax and/or Roth deferral of annual compensation that a Participant contributes to the Plan.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 25 ↗ |
| Match vesting | Participants are immediately vested in the value of their salary deferrals, safe harbor matching contributions and rollovers, plus related investment earnings. | Audit report, p. 26 ↗ |
| Roth contributions | Participants also may designate all or a portion of their deferral and Company contributions as after-tax contributions into a Roth account. | Audit report, p. 25 ↗ |
| Loans | Participants may borrow, from their vested balances, a minimum of $1,000, up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. | Audit report, p. 25 ↗ |
| Recordkeeper | Milliman, Inc. | Schedule C ↗ |
| Independent auditor | Baker Tilly US, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 479 defined-contribution plans in retail trade with 1,000 to 4,999 participants.
| Aaron's: employer contribution per participant | $1,952 | |
| Peer median | $1,023 |
| Aaron's: average balance | $59,308 | |
| Peer median | $43,395 |
| Aaron's: admin expenses ÷ assets | 0.18% | |
| Peer median | 0.23% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $176M at the end of plan year 2023 to $186M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 8,615 | $186M | $6.1M | $1,952 | 0.18% | Quoted in the audit report, p. 25 ↗ | Form 5500 ↗ |
| 2023 | 8,941 | $176M | $6.3M | $1,882 | 0.18% | Not published | Form 5500 ↗ |
Common questions
Does Aaron's match 401(k) contributions?
The audit report attached to the Aaron'S 401(k) Retirement Plan's plan year 2024 Form 5500, page 25 says: “After one year of service with a minimum of 1,000 hours of service, the Company provides a safe harbor match equal to 100% of the first 3% and 50% of the next 2% of the elective before-tax and/or Roth deferral of annual compensation that a Participant contributes to the Plan.” Plan terms may have changed; check your current Summary Plan Description.
When is the Aaron's 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 26 says: “Participants are immediately vested in the value of their salary deferrals, safe harbor matching contributions and rollovers, plus related investment earnings.”
Who manages the Aaron's 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Milliman, Inc.. The plan administrator is Aaron'S, LLC.
I left Aaron's. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Aaron'S, LLC, (678) 402-3000) or the recordkeeper, Milliman, Inc.. The Aaron's old 401(k) page lists the contacts from every plan filing. Find an old Aaron's 401(k)
Data from the public Form 5500 annual reports Aaron's filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Aaron's. Not financial advice. Report a correction · Methodology