BlackRock 401(k) match, vesting and fees
What BlackRock's 401(k) plan says about matching contributions
Eligibility for Company Contributions —The Company matches 50% of the first 8% of each participant’s eligible compensation contributed to the Plan, up to a maximum of $5,000 annually.
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 | Vesting — Participants are always 100% vested in contributions to the Plan made from their eligible compensation and in vested amounts rolled over from a former qualified retirement plan and, in each case, the earnings thereon. The vesting of unvested contributions transferred from another qualified plan is dependent upon the terms of the transfer as outlined in the terms of the Plan document. Participants become vested in Company matching and retirement contributions and earnings thereon upon completion of three years of service. Full vesting in Company matching and retirement contributions also occurs upon a participant’s death, disability, or attainment of normal retirement age, as defined by the Plan. | Audit report, p. 32 ↗ |
| Automatic enrollment | Newly eligible employees are automatically enrolled in the Plan at a pre-tax savings rate of 8% following a thirty-day opt-out period. | Audit report, p. 31 ↗ |
| Roth contributions | Each participant may elect to make contributions to the Plan on a pre-tax basis, Roth 401(k) basis, and on an after-tax basis through payroll deductions from 1% to 50% of such participant’s eligible compensation (as defined by the Plan document) subject to an annual after-tax limit of $10,000 and certain Internal Revenue Code (“IRC”) limitations. | Audit report, p. 31 ↗ |
| Loans | Notes Receivable from Participants — Participants may borrow from their individual accounts the lesser of a maximum of $50,000 or 50% of their vested account balance. Interest rates on loans are calculated based on the prime rate of interest as published in the Wall Street Journal on the last business day of the month prior to the loan request. Interest rates on the loans are fixed. General purpose loans have a maximum term of five years, and principal residence loans have a maximum term of fifteen years. | Audit report, p. 32 ↗ |
| Recordkeeper | Merrill Lynch, Pierce, Fenner and S | Schedule C ↗ |
| Independent auditor | Deloitte & Touche LLP (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 104 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| BlackRock: employer contribution per participant | $10,719 | |
| Peer median | $3,632 |
| BlackRock: average balance | $333,798 | |
| Peer median | $158,797 |
| BlackRock: admin expenses ÷ assets | <0.01% | |
| Peer median | 0.04% |
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 $4.1B at the end of plan year 2023 to $4.8B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 14,370 | $4.8B | $153M | $10,719 | <0.01% | Quoted in the audit report, p. 31 ↗ | Form 5500 ↗ |
| 2023 | 14,291 | $4.1B | $85.9M | $6,048 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does BlackRock match 401(k) contributions?
The audit report attached to the Blackrock Retirement Savings Plan's plan year 2024 Form 5500, page 31 says: “Eligibility for Company Contributions —The Company matches 50% of the first 8% of each participant’s eligible compensation contributed to the Plan, up to a maximum of $5,000 annually.” Plan terms may have changed; check your current Summary Plan Description.
When is the BlackRock 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Vesting — Participants are always 100% vested in contributions to the Plan made from their eligible compensation and in vested amounts rolled over from a former qualified retirement plan and, in each case, the earnings thereon. The vesting of unvested contributions transferred from another qualified plan is dependent upon the terms of the transfer as outlined in the terms of the Plan document. Participants become vested in Company matching and retirement contributions and earnings thereon upon completion of three years of service. Full vesting in Company matching and retirement contributions also occurs upon a participant’s death, disability, or attainment of normal retirement age, as defined by the Plan.”
Who manages the BlackRock 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Merrill Lynch, Pierce, Fenner and S. The plan administrator is Blackrock, Inc. Retirement Committee.
I left BlackRock. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Blackrock, Inc. Retirement Committee, (212) 810-5800) or the recordkeeper, Merrill Lynch, Pierce, Fenner and S. The BlackRock old 401(k) page lists the contacts from every plan filing. Find an old BlackRock 401(k)
Data from the public Form 5500 annual reports BlackRock 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 BlackRock. Not financial advice. Report a correction · Methodology