Emerson Electric 401(k) match, vesting and fees
What Emerson Electric's 401(k) plan says about matching contributions
For periods prior to January 1, 2025, eligible participants could receive Company matching contributions equal to a percentage of a portion of each participant's contribution. Additionally, certain participants who were not eligible for or were no longer accruing benefits in the Company's principal U.S. defined benefit plan could also receive a nonelective Company contribution and increased match each year in the Plan. Effective January 1, 2025, each participant is entitled to a Company matching contribution equal to 100% of the participant's contribution to the Plan, up to a maximum of 4% of the participant's eligible compensation, with an annual true-up contribution made after the end of the Plan year to ensure the matching contribution is provided based on the participant's total eligible compensation and contributions for the year.
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. 32 ↗ |
| Match vesting | Participant contributions and any related dividends, earnings and losses are always 100% vested. Company matching contributions for periods prior to January 1, 2025 and any related dividends, earnings or losses generally vest at the rate of 20% per year of service for the first 5 years for most employees. The nonelective Company contributions for periods prior to January 1, 2025 cliff vest after 3 years. Company matching contributions and nonelective Company contributions for periods on and after January 1, 2025, and any related dividends, earnings or losses cliff vest after 2 years. All amounts fully vest upon attaining retirement age (age 55), or due to death, total and permanent disability, or termination of the Plan. Accounts from Merged Plans (as defined in section (4) below) may be subject to special vesting rules. | Audit report, p. 33 ↗ |
| Automatic enrollment | For periods prior to January 1, 2025, new employees were automatically enrolled in the Plan after 45 days with an initial employee contribution rate of 6% of pre-tax eligible compensation. Effective January 1, 2025, new employees are automatically enrolled in the Plan after 45 days with an initial employee contribution rate of 4% of pre-tax eligible compensation with an automatic 1% annual increase thereafter, until the contribution rate reaches 10%. These automatic contributions are invested in an age appropriate Vanguard Target Retirement Trust, unless any such participant makes an election to affirmatively opt out in accordance with procedures established by the Company. In addition, participants have the ability to opt out of the 1% automatic annual increase. | Audit report, p. 32 ↗ |
| Roth contributions | Contributions may be made on a pre-tax, after-tax, or Roth basis, as elected by the participant and subject to certain ERISA, Internal Revenue Code (Code), and Plan limitations. | Audit report, p. 32 ↗ |
| Loans | Participants can borrow from the Plan at a rate of 1% over the Prime Rate on the date of borrowing as received by Vanguard from Reuters. Notes are secured by the balance in the participant’s account, with payment terms generally between one and four years. With certain exceptions, participants can borrow the lesser of 50% of their vested account balance or $50,000, reduced by the highest outstanding note balance during the prior 12 months. | Audit report, p. 33 ↗ |
| Recordkeeper | The Vanguard Group, Inc. | Schedule C ↗ |
| Independent auditor | Grant Thornton 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 203 defined-contribution plans in manufacturing with 10,000 to 49,999 participants.
| Emerson Electric: employer contribution per participant | $1,917 | |
| Peer median | $3,733 |
| Emerson Electric: average balance | $269,161 | |
| Peer median | $157,962 |
| Emerson Electric: admin expenses ÷ assets | 0.03% | |
| Peer median | 0.05% |
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 $3.6B at the end of plan year 2023 to $7.4B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 28,509 | $7.4B | $52.4M | $1,917 | 0.03% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 16,539 | $3.6B | $37.8M | $2,597 | 0.03% | Not published | Form 5500 ↗ |
Other Emerson Electric plans (5)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Emerson Electric Co. Retirement Savings 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 | The Vanguard Group, Inc. | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
Emerson Electric Co. Savings Investment Plan for Employees in Puerto Rico
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.
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Emerson Electric Company Retirement 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.
| Independent auditor | Grant Thornton LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Profit Sharing Retirement Plan for Divisions and Subsidiaries of Emerson Electric Co.
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 | The Vanguard Group, Inc. | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Terminated (final filing) | Form 5500 ↗ |
Retirement Plan for Employees of Bristol Babcock Inc United Steelworks of America Local 895l
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.
| Independent auditor | Grant Thornton LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Emerson Electric match 401(k) contributions?
The audit report attached to the Emerson Savings Plan's plan year 2024 Form 5500, page 32 says: “For periods prior to January 1, 2025, eligible participants could receive Company matching contributions equal to a percentage of a portion of each participant's contribution. Additionally, certain participants who were not eligible for or were no longer accruing benefits in the Company's principal U.S. defined benefit plan could also receive a nonelective Company contribution and increased match each year in the Plan. Effective January 1, 2025, each participant is entitled to a Company matching contribution equal to 100% of the participant's contribution to the Plan, up to a maximum of 4% of the participant's eligible compensation, with an annual true-up contribution made after the end of the Plan year to ensure the matching contribution is provided based on the participant's total eligible compensation and contributions for the year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Emerson Electric 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Participant contributions and any related dividends, earnings and losses are always 100% vested. Company matching contributions for periods prior to January 1, 2025 and any related dividends, earnings or losses generally vest at the rate of 20% per year of service for the first 5 years for most employees. The nonelective Company contributions for periods prior to January 1, 2025 cliff vest after 3 years. Company matching contributions and nonelective Company contributions for periods on and after January 1, 2025, and any related dividends, earnings or losses cliff vest after 2 years. All amounts fully vest upon attaining retirement age (age 55), or due to death, total and permanent disability, or termination of the Plan. Accounts from Merged Plans (as defined in section (4) below) may be subject to special vesting rules.”
Who manages the Emerson Electric 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is The Vanguard Group, Inc.. The plan administrator is Emerson Electric Company.
I left Emerson Electric. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Emerson Electric Company, (314) 553-2000) or the recordkeeper, The Vanguard Group, Inc.. The Emerson Electric old 401(k) page lists the contacts from every plan filing. Find an old Emerson Electric 401(k)
Data from the public Form 5500 annual reports Emerson Electric 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 Emerson Electric. Not financial advice. Report a correction · Methodology