CWT US 401(k) match, vesting and fees
What CWT US' 401(k) plan says about matching contributions
The Company may elect to make a discretionary matching contribution. For the year ended December 31, 2024, the Company discretionary matching contribution was 50% up to 6% of compensation deferred. Effective May 15, 2023, the Company elected to cease the matching contribution and reinstated the matching contribution effective July 12, 2024. The Company may also elect to make an additional matching contribution at the discretion of the Company’s Board of Directors. For the year ended December 31, 2024, there was no discretionary matching contribution. A participant must complete 12 consecutive months of employment to receive a Company discretionary matching 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 | 2024 audit report, p. 30 ↗ |
| Match vesting | Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s matching contribution portion of their account, plus actual earnings thereon, is based on years of continuous service. For matching contributions made prior to December 31, 2017, a participant vests at a rate of 25% after two years of service and is 100% vested after five years of credited service. For matching contributions made after January 1, 2018, a participant vests at a rate of 50% after one year of service and is 100% vested after two years of credited service. A participant earns a year of vesting service for each calendar year in which they complete 1,000 or more hours of service. Notwithstanding the above, a participant is fully vested upon reaching normal retirement age, death, or permanent disability. | 2024 audit report, p. 31 ↗ |
| Automatic enrollment | Upon completion of the eligibility requirements, participants are automatically enrolled in the Plan with a contribution percentage equal to 3% of the employees’ respective certified earnings, as defined by the Plan. | 2024 audit report, p. 30 ↗ |
| Roth contributions | Participants may also elect to contribute a percentage of annual compensation as Roth after-tax. | 2024 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. | 2024 audit report, p. 31 ↗ |
| Recordkeeper | Schwab Retirement Plan Services,inc | 2025 Schedule C ↗ |
| Independent auditor | Cliftonlarsonallen LLP (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2025 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 54 defined-contribution plans in administrative, support and waste management services with 1,000 to 4,999 participants.
| CWT US: employer contribution per participant | $526 | |
| Peer median | $1,013 |
| CWT US: average balance | $122,518 | |
| Peer median | $39,026 |
| CWT US: admin expenses ÷ assets | 0.06% | |
| Peer median | 0.33% |
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 $435M at the end of plan year 2021 to $404M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 3,500 | $404M | $1.7M | $526 | 0.06% | Not published | Form 5500 ↗ |
| 2024 | 4,084 | $391M | $1.7M | $446 | 0.06% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 4,379 | $389M | $1.8M | $425 | 0.09% | Not published | Form 5500 ↗ |
| 2022 | 4,642 | $357M | $4M | $906 | 0.06% | Not published | Form 5500 ↗ |
| 2021 | 5,016 | $435M | $5M | $1,046 | 0.08% | Not published | Form 5500 ↗ |
Common questions
Does CWT US match 401(k) contributions?
The audit report attached to the Cwt 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Company may elect to make a discretionary matching contribution. For the year ended December 31, 2024, the Company discretionary matching contribution was 50% up to 6% of compensation deferred. Effective May 15, 2023, the Company elected to cease the matching contribution and reinstated the matching contribution effective July 12, 2024. The Company may also elect to make an additional matching contribution at the discretion of the Company’s Board of Directors. For the year ended December 31, 2024, there was no discretionary matching contribution. A participant must complete 12 consecutive months of employment to receive a Company discretionary matching contribution.” Plan terms may have changed; check your current Summary Plan Description.
When is the CWT US 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s matching contribution portion of their account, plus actual earnings thereon, is based on years of continuous service. For matching contributions made prior to December 31, 2017, a participant vests at a rate of 25% after two years of service and is 100% vested after five years of credited service. For matching contributions made after January 1, 2018, a participant vests at a rate of 50% after one year of service and is 100% vested after two years of credited service. A participant earns a year of vesting service for each calendar year in which they complete 1,000 or more hours of service. Notwithstanding the above, a participant is fully vested upon reaching normal retirement age, death, or permanent disability.”
Who manages the CWT US 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Schwab Retirement Plan Services,inc. The plan administrator is Cwt US, LLC.
I left CWT US. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Cwt US, LLC, (800) 853-4333) or the recordkeeper, Schwab Retirement Plan Services,inc. The CWT US old 401(k) page lists the contacts from every plan filing. Find an old CWT US 401(k)
Data from the public Form 5500 annual reports CWT US filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) 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 CWT US. Not financial advice. Report a correction · Methodology