American Credit Acceptance 401(k) match, vesting and fees
What American Credit Acceptance's 401(k) plan says about matching contributions
The Company makes safe harbor matching contributions equal to the participant’s deferral to the Plan up to 5% of 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. 28 ↗ |
| Match vesting | Vesting. Participants are immediately vested in their contributions, the Company’s safe harbor contribution, and actual earnings thereon. Vesting in the Company’s discretionary contribution portion of their accounts plus actual earnings thereon is based on years of service. A participant is 100 percent vested after six years of service. For vesting in the Company’s discretionary contributions, the following vesting schedule is followed: Vesting in the Company’s discretionary profit-sharing contribution plus actual earnings thereon is based on year of service during which 1,000 hours are worked. | Audit report, p. 29 ↗ |
| Roth contributions | Each year, participants may contribute to the Plan through pretax deferrals and/or (post tax) Roth deferrals. | Audit report, p. 28 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of 50% of their vested account balance or $50,000, in accordance with the provisions of the Plan. | Audit report, p. 29 ↗ |
| Recordkeeper | Ascensus LLC | Schedule C ↗ |
| Independent auditor | Gosnell Menard Robinson Infante Cpa (disclaimer 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 673 defined-contribution plans in finance and insurance with 1,000 to 4,999 participants.
| American Credit Acceptance: employer contribution per participant | $1,817 | |
| Peer median | $2,966 |
| American Credit Acceptance: average balance | $23,434 | |
| Peer median | $104,792 |
| American Credit Acceptance: admin expenses ÷ assets | 0.37% | |
| Peer median | 0.10% |
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 $18.3M at the end of plan year 2021 to $26.6M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,210 | $26.6M | $2.1M | $1,817 | 0.37% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 1,234 | $22.4M | $1.9M | $1,740 | 0.38% | Not published | Form 5500 ↗ |
| 2022 | 1,280 | $17.1M | $1.9M | $1,616 | 0.37% | Not published | Form 5500 ↗ |
| 2021 | 1,220 | $18.3M | $1.6M | $1,589 | 0.31% | Not published | Form 5500 ↗ |
Common questions
Does American Credit Acceptance match 401(k) contributions?
The audit report attached to the American Credit Acceptance, LLC 401(k) Plan's plan year 2024 Form 5500, page 28 says: “The Company makes safe harbor matching contributions equal to the participant’s deferral to the Plan up to 5% of compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the American Credit Acceptance 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Vesting. Participants are immediately vested in their contributions, the Company’s safe harbor contribution, and actual earnings thereon. Vesting in the Company’s discretionary contribution portion of their accounts plus actual earnings thereon is based on years of service. A participant is 100 percent vested after six years of service. For vesting in the Company’s discretionary contributions, the following vesting schedule is followed: Vesting in the Company’s discretionary profit-sharing contribution plus actual earnings thereon is based on year of service during which 1,000 hours are worked.”
Who manages the American Credit Acceptance 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Ascensus LLC. The plan administrator is American Credit Acceptance, LLC.
I left American Credit Acceptance. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (American Credit Acceptance, LLC, (864) 256-2336) or the recordkeeper, Ascensus LLC. The American Credit Acceptance old 401(k) page lists the contacts from every plan filing. Find an old American Credit Acceptance 401(k)
Data from the public Form 5500 annual reports American Credit Acceptance filed with the U.S. Department of Labor (plan years 2021 and 2022 and 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 American Credit Acceptance. Not financial advice. Report a correction · Methodology