Chipotle Mexican Grill 401(k) match, vesting and fees
What Chipotle Mexican Grill's 401(k) plan says about matching contributions
The Company makes a safe harbor matching contribution of 100% of the participant’s elective deferrals and student loan repayments up to 3% of base compensation plus 50% of the amount of the participant’s elective deferrals that exceed 3% of the participant’s compensation but do not exceed 5% of the participant’s 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. 30 ↗ |
| Match vesting | Participants are immediately 100% vested in their contributions, plus actual earnings thereon. Participants are 100% vested in safe harbor employer matching contributions regardless of years of service. Only discretionary contributions are vested according to the below schedule. No discretionary contributions were made in the current year. | Audit report, p. 30 ↗ |
| Roth contributions | The Plan allows participants to designate contributions as Roth contributions. | Audit report, p. 30 ↗ |
| Loans | Participants may borrow from their fund accounts, a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. | Audit report, p. 31 ↗ |
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Eide Bailly 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 19 defined-contribution plans in accommodation and food services with 10,000 to 49,999 participants.
| Chipotle Mexican Grill: employer contribution per participant | $1,542 | |
| Peer median | $1,270 |
| Chipotle Mexican Grill: average balance | $27,010 | |
| Peer median | $40,457 |
| Chipotle Mexican Grill: admin expenses ÷ assets | 0.31% | |
| Peer median | 0.13% |
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 $236M at the end of plan year 2023 to $293M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 96,636 | $293M | $16.7M | $1,542 | 0.31% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 85,378 | $236M | $13.7M | $1,633 | 0.31% | Not published | Form 5500 ↗ |
Common questions
Does Chipotle Mexican Grill match 401(k) contributions?
The audit report attached to the Chipotle Mexican Grill, Inc. 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Company makes a safe harbor matching contribution of 100% of the participant’s elective deferrals and student loan repayments up to 3% of base compensation plus 50% of the amount of the participant’s elective deferrals that exceed 3% of the participant’s compensation but do not exceed 5% of the participant’s compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Chipotle Mexican Grill 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Participants are immediately 100% vested in their contributions, plus actual earnings thereon. Participants are 100% vested in safe harbor employer matching contributions regardless of years of service. Only discretionary contributions are vested according to the below schedule. No discretionary contributions were made in the current year.”
Who manages the Chipotle Mexican Grill 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Chipotle Mexican Grill, Inc..
I left Chipotle Mexican Grill. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Chipotle Mexican Grill, Inc., (949) 524-4113) or the recordkeeper, Principal Life Insurance Company. The Chipotle Mexican Grill old 401(k) page lists the contacts from every plan filing. Find an old Chipotle Mexican Grill 401(k)
Data from the public Form 5500 annual reports Chipotle Mexican Grill 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 Chipotle Mexican Grill. Not financial advice. Report a correction · Methodology