Enterprise Products 401(k) match, vesting and fees
What Enterprise Products' 401(k) plan says about matching contributions
During 2024, the Company contributed a matching contribution equal to 100% of each participant’s contribution limited to 6% of eligible 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. 71 ↗ |
| Match vesting | Vesting - A participant is immediately fully vested with respect to the portion of the participant’s account attributable to participant contributions, rollover contributions, employer matching contributions, and pre-2008 profit sharing contributions. Vesting in a participant’s post-2013 profit sharing account shall be determined based on years of service in accordance with the following schedule: Year of Service Vested Percentage Less than 3 0% 3 or more 100% Regardless of period of service, an employee who is a participant in the profit sharing component on or after reaching their retirement age shall be 100% vested in their post-2013 profit sharing account. Forfeitures - Forfeited employer contributions and the related earnings will be used to reduce future employer contributions, if not used to pay Plan expenses. Forfeitures of $1,512,645 were used to reduce employer matching contributions and profit sharing contributions for the year ended December 31, 2024. The amount of forfeitures available to offset future employer contributions at December 31, 2024 was $392. | Audit report, p. 72 ↗ |
| Loans | Notes Receivable from Participants - Participants may borrow from their fund accounts a minimum of $500 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loan transactions are treated as transfers between the investment fund and participant loans receivable. Loan terms range from 1 to 5 years, with the exception of those participants whose loans rolled in from a prior employer’s plan with original maturities of up to 15 years. The loans are secured by the balance in the participant’s account and bear interest at a rate commensurate with prevailing rates. Interest rates on loans outstanding at December 31, 2024 range from 4.25% to 10.50%. | Audit report, p. 72 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Harper & Pearson Company, P.C. (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 53 defined-contribution plans in transportation and warehousing with 5,000 to 9,999 participants.
| Enterprise Products: employer contribution per participant | $12,344 | |
| Peer median | $2,217 |
| Enterprise Products: average balance | $289,263 | |
| Peer median | $65,929 |
| Enterprise Products: admin expenses ÷ assets | 0.03% | |
| Peer median | 0.12% |
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 $2.3B at the end of plan year 2023 to $2.6B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 9,008 | $2.6B | $111M | $12,344 | 0.03% | Quoted in the audit report, p. 71 ↗ | Form 5500 ↗ |
| 2023 | 8,750 | $2.3B | $105M | $11,957 | 0.03% | Not published | Form 5500 ↗ |
Common questions
Does Enterprise Products match 401(k) contributions?
The audit report attached to the Enterprise 401(k) Plan's plan year 2024 Form 5500, page 71 says: “During 2024, the Company contributed a matching contribution equal to 100% of each participant’s contribution limited to 6% of eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Enterprise Products 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 72 says: “Vesting - A participant is immediately fully vested with respect to the portion of the participant’s account attributable to participant contributions, rollover contributions, employer matching contributions, and pre-2008 profit sharing contributions. Vesting in a participant’s post-2013 profit sharing account shall be determined based on years of service in accordance with the following schedule: Year of Service Vested Percentage Less than 3 0% 3 or more 100% Regardless of period of service, an employee who is a participant in the profit sharing component on or after reaching their retirement age shall be 100% vested in their post-2013 profit sharing account. Forfeitures - Forfeited employer contributions and the related earnings will be used to reduce future employer contributions, if not used to pay Plan expenses. Forfeitures of $1,512,645 were used to reduce employer matching contributions and profit sharing contributions for the year ended December 31, 2024. The amount of forfeitures available to offset future employer contributions at December 31, 2024 was $392.”
Who manages the Enterprise Products 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Enterprise Products Company.
I left Enterprise Products. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Enterprise Products Company, (713) 381-6500) or the recordkeeper, Fidelity Investments Institutional. The Enterprise Products old 401(k) page lists the contacts from every plan filing. Find an old Enterprise Products 401(k)
Data from the public Form 5500 annual reports Enterprise Products 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 Enterprise Products. Not financial advice. Report a correction · Methodology