Aflac 401(k) match, vesting and fees
What Aflac's 401(k) plan says about matching contributions
The first 1% to 4% of participants' compensation contributed may be subject to a percentage matching contribution by the Company. For the year ended December 31, 2024, subject to certain limitations, the Company's matching contribution was 100% of the portion of the participants' contributions, which were not in excess of 4% of the participants' annual cash compensation.
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. 29 ↗ |
| Automatic enrollment | Participants that do not make an affirmative contribution election are automatically enrolled in the Plan to contribute 6% of annual cash compensation, which will increase by 1% annually until contributions reach 10% of annual cash compensation. | Audit report, p. 29 ↗ |
| Roth contributions | Participants can elect whether to make contributions on a pre-tax basis (traditional 401(k)) or on an after-tax basis (Roth 401(k)). | Audit report, p. 29 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Warren Averett, LLC (unmodified opinion) | 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 118 defined-contribution plans in finance and insurance with 5,000 to 9,999 participants.
| Aflac: employer contribution per participant | $6,061 | |
| Peer median | $3,354 |
| Aflac: average balance | $154,543 | |
| Peer median | $126,365 |
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 $772M at the end of plan year 2021 to $1.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 7,016 | $1.1B | $41.8M | $6,061 | — | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 6,929 | $871M | $31.7M | $4,620 | — | Not published | Form 5500 ↗ |
| 2022 | 6,996 | $715M | $28.6M | $4,141 | — | Not published | Form 5500 ↗ |
| 2021 | 7,015 | $772M | $26.3M | $3,836 | — | Not published | Form 5500 ↗ |
Other Aflac plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Aflac Incorporated Puerto Rico 401(k) Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Aflac Incorporated Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Milliman, Inc. | Schedule C ↗ |
| Independent auditor | Warren Averett (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Aflac match 401(k) contributions?
The audit report attached to the Aflac Incorporated 401(k) Savings and Profit Sharing Plan's plan year 2024 Form 5500, page 29 says: “The first 1% to 4% of participants' compensation contributed may be subject to a percentage matching contribution by the Company. For the year ended December 31, 2024, subject to certain limitations, the Company's matching contribution was 100% of the portion of the participants' contributions, which were not in excess of 4% of the participants' annual cash compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Aflac 401(k) match vested?
The vesting schedule for the Aflac Incorporated 401(k) Savings and Profit Sharing Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Aflac 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Aflac Incorporated.
I left Aflac. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Aflac Incorporated, (706) 317-0770) or the recordkeeper, Fidelity Investments Institutional. The Aflac old 401(k) page lists the contacts from every plan filing. Find an old Aflac 401(k)
Data from the public Form 5500 annual reports Aflac filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) 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 Aflac. Not financial advice. Report a correction · Methodology