Caris Science 401(k) match, vesting and fees
What Caris Science's 401(k) plan says about matching contributions
The Company makes a “safe harbor” contribution, which is 100% of a participant’s elective deferral that does not exceed 3% of a participant’s eligible compensation, plus 50% of the next 2% of a participant’s eligible compensation. In addition to the “safe harbor” contribution, the Company may make a discretionary contribution. The matching rate for the discretionary contribution would be the same as the rate for the “safe harbor” contribution.
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. 30 ↗ |
| Match vesting | Participants are fully vested in all contributions made to the Plan. | Audit report, p. 31 ↗ |
| Roth contributions | Participants are permitted to contribute a percentage of their annual compensation, as defined in the Plan document, to the Plan through either tax-deferred contributions or Roth contributions. | Audit report, p. 30 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to the maximum allowed by the current Code regulations, which is generally the lesser of $50,000 or 50% of the participant’s vested account balance. Loan terms range from one to five years, or longer for the purchase of a primary residence. The loans are generally secured by the balance in the participant’s account and bear interest that is considered reasonable based upon prevailing interest rates. | Audit report, p. 31 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Whitley Penn (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 1,281 defined-contribution plans in health care and social assistance with 1,000 to 4,999 participants.
| Caris Science: employer contribution per participant | $4,517 | |
| Peer median | $1,358 |
| Caris Science: average balance | $82,512 | |
| Peer median | $44,442 |
| Caris Science: admin expenses ÷ assets | 0.22% | |
| Peer median | 0.21% |
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 $71.1M at the end of plan year 2021 to $141M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 2,123 | $141M | $7.7M | $4,517 | 0.22% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 2,065 | $110M | $7.2M | $4,450 | 0.30% | Not published | Form 5500 ↗ |
| 2022 | 2,043 | $77.1M | $6.5M | $4,397 | 0.28% | Not published | Form 5500 ↗ |
| 2021 | 1,530 | $71.1M | $4.6M | $3,804 | 0.40% | Not published | Form 5500 ↗ |
Common questions
Does Caris Science match 401(k) contributions?
The audit report attached to the Caris Science, Inc. 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Company makes a “safe harbor” contribution, which is 100% of a participant’s elective deferral that does not exceed 3% of a participant’s eligible compensation, plus 50% of the next 2% of a participant’s eligible compensation. In addition to the “safe harbor” contribution, the Company may make a discretionary contribution. The matching rate for the discretionary contribution would be the same as the rate for the “safe harbor” contribution.” Plan terms may have changed; check your current Summary Plan Description.
When is the Caris Science 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are fully vested in all contributions made to the Plan.”
Who manages the Caris Science 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Caris Science, Inc..
I left Caris Science. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Caris Science, Inc., (602) 464-7677) or the recordkeeper, Empower Annuity Insurance Company. The Caris Science old 401(k) page lists the contacts from every plan filing. Find an old Caris Science 401(k)
Data from the public Form 5500 annual reports Caris Science 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 Caris Science. Not financial advice. Report a correction · Methodology