Delta Air Lines 401(k) match, vesting and fees

Vesting and Forfeitures - Participants are immediately vested in all participant contributions to their accounts plus actual earnings thereon. Effective June 30, 2020, Delta adopted changes to fully vest all employees, including former employees who terminated employment on and after January 31, 2020. Subsequently, the Plan was amended to fully vest all employees hired on or before December 31, 2021 and reinstate the two years of service vesting requirement for Fixed and Matching Contributions for all employees hired on or after January 1, 2022. Participants are also immediately 100% vested upon the participant's death, the attainment of normal retirement age, or the participant's disability. In the event that any employer contributions are forfeited for any reason, they are moved to a suspense account first used to make restorations to rehired participants, as applicable, then to reduce the Company's future contributions. At December 31, 2024 and 2023, forfeited non-vested accounts totaled approximately $206 thousand and $183 thousand, respectively. During the year ended December 31, 2024, approximately $6.1 million was moved from the forfeited non-vested account to offset Company contributions, in accordance with the Plan document.

The Plan includes an auto enrollment feature wherein participants who do not elect a contribution percentage or do not elect to opt out of the Plan within 45 days of their date of hire (or rehire) are automatically enrolled for pre-tax contributions at a rate of 6% of eligible earnings. If no changes to a participant's 6% contribution rate are made through the end of the first Plan year that begins after automatic enrollment in the Plan, the participant's contribution rate will increase by 1% each year (unless a different rate is chosen) until it reaches a maximum of 10% of eligible earnings.

Participant Contributions - Participant contributions may be made, at the option of the participant, as pre-tax, Roth, after-tax, or as a combination of the three.

Notes Receivable from Participants - Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of (1) $50,000, reduced by the highest outstanding balance of notes for that participant during the previous one year period, or (2) 50% of their vested account balance. The notes receivable for all notes other than those that are used for the purchase of a primary residence, which must be repaid within a ten-year period, are repaid generally through regular payroll deductions, over a period not to exceed five years (four prior to January 5, 2024). The principal amounts of the notes are assets of the Plan and earn interest, which represents income to the borrowing participant, at a fixed rate equal to the prime rate as calculated by Reuters plus 2%.