Badger Meter 401(k) match, vesting and fees
What Badger Meter's 401(k) plan says about matching contributions
The Company may make a discretionary matching contribution to the 401(k) savings component of the Plan. In order to be eligible to receive a Company match, a participant must be employed as of the last day of the plan year, retired within the year, or terminated employment during the plan year having attained age 55 with 5 years of service. Company matching contributions of $1,462,528 for 2024 were accrued in 2024 and paid in early 2025, which is equal to 25% of the first 7% of participants’ compensation, or 25% of the participant’s contribution, whichever is less. Company matching contributions of $943,941 for 2023 were accrued in 2023 and paid in early 2024.
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 | 2024 audit report, p. 31 ↗ |
| Match vesting | Participants are immediately fully vested in their contributions, employer matching contributions and related earnings. There is a three-year cliff vesting requirement for Company contributions and related earnings in the defined and discretionary contribution components of the Plan. | 2024 audit report, p. 32 ↗ |
| Roth contributions | Participants may elect to contribute up to 75% of their eligible compensation to the 401(k) savings component of the Plan, subject to amounts allowable by the Internal Revenue Service (“IRS”) on a pre-tax and/or after-tax Roth basis. | 2024 audit report, p. 31 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance subject to certain criteria. Note maturities cannot exceed 60 months and are secured by the participant’s vested interests in the Plans. The notes bear interest at rates that range from 3.25% to 8.50%, which are commensurate with local prevailing rates at the time of the loan origination as determined quarterly by the Plan Administrator. | 2024 audit report, p. 32 ↗ |
| Recordkeeper | Schwab Retirement Plan Services,inc | 2025 Schedule C ↗ |
| Independent auditor | Wipfli LLP (unmodified opinion) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2025 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 434 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Badger Meter: employer contribution per participant | $4,982 | |
| Peer median | $2,591 |
| Badger Meter: average balance | $171,382 | |
| Peer median | $102,504 |
| Badger Meter: admin expenses ÷ assets | 0.05% | |
| Peer median | 0.11% |
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 $181M at the end of plan year 2021 to $233M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,401 | $233M | $6.8M | $4,982 | 0.05% | Not published | Form 5500 ↗ |
| 2024 | 1,201 | $218M | $6.2M | $5,239 | 0.04% | Quoted in the audit report, p. 31 ↗ | Form 5500 ↗ |
| 2023 | 1,111 | $187M | $5.1M | $4,723 | 0.01% | Not published | Form 5500 ↗ |
| 2022 | 1,148 | $166M | $4.7M | $4,255 | 0.12% | Not published | Form 5500 ↗ |
| 2021 | 1,046 | $181M | $4M | $4,192 | 0.11% | Not published | Form 5500 ↗ |
Common questions
Does Badger Meter match 401(k) contributions?
The audit report attached to the Badger Meter Employee Savings and Stock Ownership Plan's plan year 2024 Form 5500, page 31 says: “The Company may make a discretionary matching contribution to the 401(k) savings component of the Plan. In order to be eligible to receive a Company match, a participant must be employed as of the last day of the plan year, retired within the year, or terminated employment during the plan year having attained age 55 with 5 years of service. Company matching contributions of $1,462,528 for 2024 were accrued in 2024 and paid in early 2025, which is equal to 25% of the first 7% of participants’ compensation, or 25% of the participant’s contribution, whichever is less. Company matching contributions of $943,941 for 2023 were accrued in 2023 and paid in early 2024.” Plan terms may have changed; check your current Summary Plan Description.
When is the Badger Meter 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Participants are immediately fully vested in their contributions, employer matching contributions and related earnings. There is a three-year cliff vesting requirement for Company contributions and related earnings in the defined and discretionary contribution components of the Plan.”
Who manages the Badger Meter 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Schwab Retirement Plan Services,inc. The plan administrator is Badger Meter Employee Benefits.
I left Badger Meter. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Badger Meter Employee Benefits, (414) 355-0400) or the recordkeeper, Schwab Retirement Plan Services,inc. The Badger Meter old 401(k) page lists the contacts from every plan filing. Find an old Badger Meter 401(k)
Data from the public Form 5500 annual reports Badger Meter 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 Badger Meter. Not financial advice. Report a correction · Methodology