Aristocrat Technologies 401(k) match, vesting and fees
What Aristocrat Technologies' 401(k) plan says about matching contributions
In order to be eligible for matching employer contributions, an employee must be making contributions to the Plan. The amount of matching contributions made by the Company on behalf of participants is determined annually at the discretion of the Company. For the year ended December 31, 2024, employer matching contributions are limited to 100% of the first 4% of annual compensation on a per pay period basis. Employee contributions and employer matching contributions made on behalf of highly compensated employees may be limited pursuant to non-discrimination rules set forth in the Plan document and the Internal Revenue Code (the Code).
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. 31 ↗ |
| Match vesting | Employees who terminated before May 1, 2023 remained vested at the percentages above. For employees who were still employed on May 1, 2023, vesting in the employer matching contributions is as follows: Years of Service Less than 1 1 2 3 or More Vesting (%) - 50 100 100 Forfeitures may be used to reduce employer matching contributions or pay administrative expenses. As of December 31, 2024 and 2023, the forfeited non-vested accounts were $742,542 and $488,120, respectively, and during the year ended December 31, 2024, $482,026 of forfeitures were used to reduce employer matching contributions and $7,602 were used to reduce expenses. | Audit report, p. 32 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 4% of eligible compensation until changed by the participant. | Audit report, p. 31 ↗ |
| Roth contributions | The Plan also allows for Roth 401(k) contributions. | Audit report, p. 31 ↗ |
| Loans | Participants are permitted to borrow a minimum of $1,000 of their vested benefits under the Plan. Participants may borrow up to a maximum equal to the lesser of 50% of their vested account balance or $50,000, reduced by the highest outstanding loan balance in their account during the prior 12-month period. Loans are secured by the participant’s account and bear an interest rate at the prime rate plus 1% as of the date of the note, unless otherwise determined by the Plan Administrator, which would be made under similar circumstances and is fixed for the term of the loan. The notes are repaid ratably through payroll deductions over a period of five years or less, unless used to purchase a principal residence, which provides for repayments up to 25 years. These loans are subject to certain restrictions as defined by the Plan Document and applicable restrictions under the Internal Revenue Code (IRC). Also, each participant may not have more than one loan outstanding at any time. | Audit report, p. 32 ↗ |
| Recordkeeper | Schwab Retirement Plan Services,inc | Schedule C ↗ |
| Independent auditor | Bdo USA P.C (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 135 defined-contribution plans in arts, entertainment, and recreation with 1,000 to 4,999 participants.
| Aristocrat Technologies: employer contribution per participant | $3,056 | |
| Peer median | $1,412 |
| Aristocrat Technologies: average balance | $89,911 | |
| Peer median | $54,020 |
| Aristocrat Technologies: admin expenses ÷ assets | 0.10% | |
| 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 $301M at the end of plan year 2023 to $352M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 4,017 | $352M | $12M | $3,056 | 0.10% | Quoted in the audit report, p. 31 ↗ | Form 5500 ↗ |
| 2023 | 4,070 | $301M | $12.2M | $3,084 | 0.10% | Not published | Form 5500 ↗ |
Common questions
Does Aristocrat Technologies match 401(k) contributions?
The audit report attached to the Aristocrat Technologies, Inc. 401(k) Savings Plan's plan year 2024 Form 5500, page 31 says: “In order to be eligible for matching employer contributions, an employee must be making contributions to the Plan. The amount of matching contributions made by the Company on behalf of participants is determined annually at the discretion of the Company. For the year ended December 31, 2024, employer matching contributions are limited to 100% of the first 4% of annual compensation on a per pay period basis. Employee contributions and employer matching contributions made on behalf of highly compensated employees may be limited pursuant to non-discrimination rules set forth in the Plan document and the Internal Revenue Code (the Code).” Plan terms may have changed; check your current Summary Plan Description.
When is the Aristocrat Technologies 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Employees who terminated before May 1, 2023 remained vested at the percentages above. For employees who were still employed on May 1, 2023, vesting in the employer matching contributions is as follows: Years of Service Less than 1 1 2 3 or More Vesting (%) - 50 100 100 Forfeitures may be used to reduce employer matching contributions or pay administrative expenses. As of December 31, 2024 and 2023, the forfeited non-vested accounts were $742,542 and $488,120, respectively, and during the year ended December 31, 2024, $482,026 of forfeitures were used to reduce employer matching contributions and $7,602 were used to reduce expenses.”
Who manages the Aristocrat Technologies 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Schwab Retirement Plan Services,inc. The plan administrator is Aristocrat Technologies, Inc..
I left Aristocrat Technologies. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Aristocrat Technologies, Inc., (702) 270-1000) or the recordkeeper, Schwab Retirement Plan Services,inc. The Aristocrat Technologies old 401(k) page lists the contacts from every plan filing. Find an old Aristocrat Technologies 401(k)
Data from the public Form 5500 annual reports Aristocrat Technologies 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 Aristocrat Technologies. Not financial advice. Report a correction · Methodology