Calumet GP 401(k) match, vesting and fees
What Calumet GP's 401(k) plan says about matching contributions
The Employer makes a safe-harbor matching contribution to the Plan and may elect to make discretionary profit-sharing contributions to the Plan. In 2024, the Employer made safe-harbor matching contributions equal to 100% of the first 4% of eligible compensation, plus 50% of the next 2% of eligible 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. 32 ↗ |
| Match vesting | Vesting and Forfeitures: Participants are immediately vested in their contribution and the Employer’s safe-harbor matching contributions, plus actual earnings thereon. Vesting in the Employer’s profit-sharing contribution portion of their account is based on years of service. A participant generally becomes 100% vested after three years of credited service. At December 31, 2024 and 2023, forfeited nonvested accounts of terminated participants totaled $2,953 and $76,408 respectively. These accounts will be used to reduce future Employer contributions, pay Plan expenses, and/or be allocated or reinstated to the accounts of eligible participants, as defined in the Plan Agreement. In 2024, forfeited nonvested accounts of $79,049 were used to reduce Employer contributions. | Audit report, p. 32 ↗ |
| Loans | Notes Receivable from Participants: Participants may borrow from their account a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or 50% of their vested account balance. | Audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Katz, Sapper & Miller, 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 89 defined-contribution plans in mining, quarrying, and oil and gas extraction with 1,000 to 4,999 participants.
| Calumet GP: employer contribution per participant | $4,129 | |
| Peer median | $4,558 |
| Calumet GP: average balance | $162,678 | |
| Peer median | $124,843 |
| Calumet GP: admin expenses ÷ assets | 0.03% | |
| Peer median | 0.07% |
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 $286M at the end of plan year 2021 to $307M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 2,144 | $307M | $7.8M | $4,129 | 0.03% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 2,040 | $275M | $8M | $4,309 | 0.01% | Not published | Form 5500 ↗ |
| 2022 | 1,998 | $233M | $7.2M | $4,060 | 0.04% | Not published | Form 5500 ↗ |
| 2021 | 1,909 | $286M | $6M | $3,453 | 0.08% | Not published | Form 5500 ↗ |
Other Calumet GP plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Penreco Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Katz, Sapper and Miller, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Retirement Plan for Montana Refining Employees of Calumet Gp, LLC
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Katz, Sapper and Miller, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Calumet GP match 401(k) contributions?
The audit report attached to the Calumet Gp, LLC Retirement Savings Plan's plan year 2024 Form 5500, page 32 says: “The Employer makes a safe-harbor matching contribution to the Plan and may elect to make discretionary profit-sharing contributions to the Plan. In 2024, the Employer made safe-harbor matching contributions equal to 100% of the first 4% of eligible compensation, plus 50% of the next 2% of eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Calumet GP 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Vesting and Forfeitures: Participants are immediately vested in their contribution and the Employer’s safe-harbor matching contributions, plus actual earnings thereon. Vesting in the Employer’s profit-sharing contribution portion of their account is based on years of service. A participant generally becomes 100% vested after three years of credited service. At December 31, 2024 and 2023, forfeited nonvested accounts of terminated participants totaled $2,953 and $76,408 respectively. These accounts will be used to reduce future Employer contributions, pay Plan expenses, and/or be allocated or reinstated to the accounts of eligible participants, as defined in the Plan Agreement. In 2024, forfeited nonvested accounts of $79,049 were used to reduce Employer contributions.”
Who manages the Calumet GP 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Calumet Gp, LLC.
I left Calumet GP. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Calumet Gp, LLC, (317) 328-5660) or the recordkeeper, Fidelity Investments Institutional. The Calumet GP old 401(k) page lists the contacts from every plan filing. Find an old Calumet GP 401(k)
Data from the public Form 5500 annual reports Calumet GP 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 Calumet GP. Not financial advice. Report a correction · Methodology