Cencora 401(k) match, vesting and fees
What Cencora's 401(k) plan says about matching contributions
The Company contributes to the Plan for each participating employee an amount equal to 100% of the participant's contributions up to 3% and 50% on the next 2% of the participant's eligible contributions.
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. 33 ↗ |
| Automatic enrollment | If not already enrolled, eligible full-time employees are automatically enrolled in the Plan on the first day of the first payroll period that coincides with, or the next payroll period following, the date that represents 90 days of continuous employment (30 days of continuous employment for rehired participants who had previously met the eligibility requirements) unless they waive participation. If automatically enrolled, a participant's deferral is set at a 5% pretax contribution rate of eligible compensation until changed by the participant. The automatic deferral percentage increases by 1% each year on the anniversary date of the participant's automatic enrollment date but will not exceed 10% of compensation. | Audit report, p. 33 ↗ |
| Roth contributions | The Plan also includes a Roth feature and a Roth conversion feature. | Audit report, p. 33 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000, reduced by the highest outstanding loan balance in the last twelve months, or 50% of their vested account balance. This amount will be transferred from the participant's account and placed in a separate participant loan fund. Interest charged on participant loans is credited to the individual participant accounts. The term of the loan may not exceed five years unless it qualifies as a primary residence loan, in which case the loan may not exceed ten years. A participant may not have more than one loan outstanding at any point in time, and a participant must wait at least three months following repayment in full of the prior loan before applying for a new loan. Participant loans are collateralized by the vested balance in the participant's account and bear interest at the Prime Rate (as determined by the Plan administrator as of the date the loan is processed), plus one percent. Foreclosure on defaulted participant loans does not occur until a distributable event, as defined in the Plan, occurs. Principal and interest are paid through payroll deductions. As of December 31, 2024 and 2023, participant loans are shown as a receivable of the Plan. Interest rates on loans outstanding as of December 31, 2024 ranged from 4.25% to 5.00%. | Audit report, p. 34 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Ernst & Young LLP (unmodified opinion) | 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 43 defined-contribution plans in wholesale trade with 10,000 to 49,999 participants.
| Cencora: employer contribution per participant | $2,877 | |
| Peer median | $2,266 |
| Cencora: average balance | $96,667 | |
| Peer median | $90,687 |
| Cencora: admin expenses ÷ assets | 0.05% | |
| 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 $1.9B at the end of plan year 2023 to $2.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 22,471 | $2.1B | $62.5M | $2,877 | 0.05% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 25,829 | $1.9B | $59.3M | $2,448 | 0.06% | Not published | Form 5500 ↗ |
Common questions
Does Cencora match 401(k) contributions?
The audit report attached to the Cencora Employee Investment Plan's plan year 2024 Form 5500, page 33 says: “The Company contributes to the Plan for each participating employee an amount equal to 100% of the participant's contributions up to 3% and 50% on the next 2% of the participant's eligible contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Cencora 401(k) match vested?
The vesting schedule for the Cencora Employee Investment Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Cencora 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Cencora, Inc..
I left Cencora. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Cencora, Inc., (610) 727-7000) or the recordkeeper, Fidelity Investments Institutional. The Cencora old 401(k) page lists the contacts from every plan filing. Find an old Cencora 401(k)
Data from the public Form 5500 annual reports Cencora 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 Cencora. Not financial advice. Report a correction · Methodology