Aon Consulting 401(k) match, vesting and fees
What Aon Consulting's 401(k) plan says about matching contributions
Under the terms of the Participating Employer adoption agreements, the Participating Employers may elect to make matching contributions, nonelective contributions, prevailing wage contributions, qualified nonelective contributions (QNECs) or qualified matching contributions (QMACs) to the PEP. Participating Employers may also elect to make true-up matching contributions.
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. 86 ↗ |
| Match vesting | Participants are immediately vested in their contributions, plus actual earnings (losses) thereon. Vesting in the Participating Employer contribution portion of their accounts, plus actual earnings (losses) thereon, is based on years of service ranging from immediate to five years graded or cliff vesting, as elected by each Participating Employer. | Audit report, p. 87 ↗ |
| Automatic enrollment | The Participating Employers in the PEP may elect automatic enrollment and escalation features. If elected by the Participating Employer, a defined percentage of an eligible participant’s compensation is automatically withheld based on the Participating Employer’s adoption agreement, unless the participant affirmatively opts out. | Audit report, p. 86 ↗ |
| Roth contributions | Each year eligible participants may make pre-tax, Roth, and/or after-tax contributions of their eligible compensation, as defined by the PEP and Participating Employer adoption agreement, subject to applicable limits established by law. | Audit report, p. 86 ↗ |
| Loans | Participants may borrow up to 50% of their vested account balance, with a minimum of $1,000, up to a maximum of $50,000. Participants may not have more than one loan outstanding at any time unless as a result of a conversion from a prior plan. In this case, a participant may have up to five grandfathered loans for a possible maximum total of six loans outstanding. The loans are secured by the balance in the participant’s account and generally bear interest at the prime rate plus 1%. The term of a general purpose loan may not exceed five years, and, in the case of a loan used to acquire a principal residence, the loan term may be extended up to a maximum of 15 years. | Audit report, p. 87 ↗ |
| Recordkeeper | Voya Institutional Plan Services | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 19 defined-contribution plans in finance and insurance with 50,000 or more participants.
| Aon Consulting: employer contribution per participant | $2,486 | |
| Peer median | $3,368 |
| Aon Consulting: average balance | $61,131 | |
| Peer median | $160,346 |
| Aon Consulting: admin expenses ÷ assets | 0.32% | |
| Peer median | 0.05% |
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 $272M at the end of plan year 2021 to $3.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 87,813 | $3.1B | $128M | $2,486 | 0.32% | Quoted in the audit report, p. 86 ↗ | Form 5500 ↗ |
| 2023 | 55,767 | $1.7B | $52.9M | $1,891 | 0.33% | Not published | Form 5500 ↗ |
| 2022 | 28,390 | $665M | $27.8M | $1,901 | 0.43% | Not published | Form 5500 ↗ |
| 2021 | 15,423 | $272M | $5.9M | $1,035 | 0.31% | Not published | Form 5500 ↗ |
Common questions
Does Aon Consulting match 401(k) contributions?
The audit report attached to the Aon Pooled Employer Plan's plan year 2024 Form 5500, page 86 says: “Under the terms of the Participating Employer adoption agreements, the Participating Employers may elect to make matching contributions, nonelective contributions, prevailing wage contributions, qualified nonelective contributions (QNECs) or qualified matching contributions (QMACs) to the PEP. Participating Employers may also elect to make true-up matching contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Aon Consulting 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 87 says: “Participants are immediately vested in their contributions, plus actual earnings (losses) thereon. Vesting in the Participating Employer contribution portion of their accounts, plus actual earnings (losses) thereon, is based on years of service ranging from immediate to five years graded or cliff vesting, as elected by each Participating Employer.”
Who manages the Aon Consulting 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Voya Institutional Plan Services. The plan administrator is Aon Consulting, Inc..
I left Aon Consulting. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Aon Consulting, Inc., (847) 442-2737) or the recordkeeper, Voya Institutional Plan Services. The Aon Consulting old 401(k) page lists the contacts from every plan filing. Find an old Aon Consulting 401(k)
Data from the public Form 5500 annual reports Aon Consulting 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 Aon Consulting. Not financial advice. Report a correction · Methodology