Alsco 401(k) match, vesting and fees
What Alsco's 401(k) plan says about matching contributions
The Company matches 25% of participants’ contributions up to 6% of their annual compensation. Employer matching contributions are made each pay period, with a true-up contribution at year-end.
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. 30 ↗ |
| Match vesting | Participants are immediately vested in their voluntary contributions, earnings thereon, and rollover contributions. Participants vest in employer matching and employer discretionary contributions based on years of credited service. A participant is 100% vested after two years of credited service. Participants also become 100% vested when the participant reaches early retirement age (55), incurs a disability as defined by the Plan, or upon death. | Audit report, p. 31 ↗ |
| Automatic enrollment | All eligible employees are automatically enrolled in the Plan with an initial elective deferral of 3% of pay and an automatic 1% annual increase in deferral amount up to 10% of pay. Participants may elect a different deferral percentage, including opting out of automatic enrollment or deferral increases. | Audit report, p. 30 ↗ |
| Roth contributions | The Plan allows participants to make ROTH 401(k) contributions as an alternative to traditional pre-tax contributions. | Audit report, p. 30 ↗ |
| Loans | A participant who is an active employee and qualifies for a hardship withdrawal as defined in the Plan, may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lessor of $50,000 or 50% of their vested account balance. Loans are secured by the balance in the participant’s account. The maximum term on loans is five years. For participants using loan proceeds for the purchase of a principal residence, the maximum loan term is 10 years. Participants may only have one loan outstanding at a time. Loan repayments are made through weekly or semi-monthly payroll deductions and loan payoffs may be made directly by the participant without penalty. Interest on loans accrues at the prime rate plus 1% at the date the loan is taken. As of December 31, 2024, the interest rates for all outstanding participant loans ranged from 4.25% to 9.50%. | Audit report, p. 32 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Grant Thornton (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 25 defined-contribution plans in other services with 5,000 to 9,999 participants.
| Alsco: employer contribution per participant | $2,025 | |
| Peer median | $1,920 |
| Alsco: average balance | $54,954 | |
| Peer median | $54,954 |
| Alsco: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.16% |
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 $306M at the end of plan year 2023 to $346M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 6,941 | $346M | $12.7M | $2,025 | 0.11% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 5,767 | $306M | $11.5M | $2,048 | 0.10% | Not published | Form 5500 ↗ |
Common questions
Does Alsco match 401(k) contributions?
The audit report attached to the Alsco 401(k) Savings Plan's plan year 2024 Form 5500, page 30 says: “The Company matches 25% of participants’ contributions up to 6% of their annual compensation. Employer matching contributions are made each pay period, with a true-up contribution at year-end.” Plan terms may have changed; check your current Summary Plan Description.
When is the Alsco 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are immediately vested in their voluntary contributions, earnings thereon, and rollover contributions. Participants vest in employer matching and employer discretionary contributions based on years of credited service. A participant is 100% vested after two years of credited service. Participants also become 100% vested when the participant reaches early retirement age (55), incurs a disability as defined by the Plan, or upon death.”
Who manages the Alsco 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Alsco Inc..
I left Alsco. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Alsco Inc., (801) 328-8831) or the recordkeeper, Fidelity Investments Institutional. The Alsco old 401(k) page lists the contacts from every plan filing. Find an old Alsco 401(k)
Data from the public Form 5500 annual reports Alsco 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 Alsco. Not financial advice. Report a correction · Methodology