Centric Consulting 401(k) match, vesting and fees
What Centric Consulting's 401(k) plan says about matching contributions
The Plan allows for discretionary employer matching contributions, which are made at the option of management. Management elected to make discretionary employer matching contributions of 25 percent of each participant’s deferrals up to 6 percent of eligible compensation for a maximum match of 1.5 percent for 2024. The match is calculated and deposited each pay period, and participants are only eligible to receive the match for pay periods for which they make participant 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. 29 ↗ |
| Match vesting | Vesting – Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts plus actual earnings thereon is based on years of service. For discretionary employer matching contributions and discretionary employer nonelective contributions, a participant is 100 percent vested after three years or five years, respectively, of credited service, death, disability, or upon reaching normal retirement age. | Audit report, p. 29 ↗ |
| Loans | Notes Receivable from Participants – Participants may borrow from their fund accounts up to a maximum equal to the lesser of $50,000 or 50 percent of their vested balance. The minimum amount of a loan shall be $1,000. | Audit report, p. 30 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Mh Cpa PLLC (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 1,287 defined-contribution plans in professional, scientific, and technical services with 500 to 999 participants.
| Centric Consulting: employer contribution per participant | $1,233 | |
| Peer median | $2,600 |
| Centric Consulting: average balance | $142,124 | |
| Peer median | $84,124 |
| Centric Consulting: admin expenses ÷ assets | 0.09% | |
| Peer median | 0.17% |
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 $84M at the end of plan year 2021 to $118M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 938 | $118M | $1M | $1,233 | 0.09% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 1,056 | $103M | $1M | $1,114 | 0.12% | Not published | Form 5500 ↗ |
| 2022 | 976 | $80.6M | $1.1M | $1,254 | 0.18% | Not published | Form 5500 ↗ |
| 2021 | 939 | $84M | $0 | $0 | <0.01% | Not published | Form 5500 ↗ |
Other Centric Consulting plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Centric Consulting Profit Sharing 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.
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Martin Hood LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Centric Consulting match 401(k) contributions?
The audit report attached to the Centric Consulting, LLC 401 (K) Profit Sharing Plan & Trust's plan year 2024 Form 5500, page 29 says: “The Plan allows for discretionary employer matching contributions, which are made at the option of management. Management elected to make discretionary employer matching contributions of 25 percent of each participant’s deferrals up to 6 percent of eligible compensation for a maximum match of 1.5 percent for 2024. The match is calculated and deposited each pay period, and participants are only eligible to receive the match for pay periods for which they make participant contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Centric Consulting 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Vesting – Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts plus actual earnings thereon is based on years of service. For discretionary employer matching contributions and discretionary employer nonelective contributions, a participant is 100 percent vested after three years or five years, respectively, of credited service, death, disability, or upon reaching normal retirement age.”
Who manages the Centric Consulting 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Centric Consulting, LLC.
I left Centric Consulting. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Centric Consulting, LLC, (502) 432-1974) or the recordkeeper, Fidelity Investments Institutional. The Centric Consulting old 401(k) page lists the contacts from every plan filing. Find an old Centric Consulting 401(k)
Data from the public Form 5500 annual reports Centric Consulting 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 Centric Consulting. Not financial advice. Report a correction · Methodology