EY 401(k) match, vesting and fees
What EY's 401(k) plan says about matching contributions
The Firm matching contribution to the 401(k) account of eligible Staff members will be made each pay period in which contributions are made. To be eligible to receive the Firm matching contribution, a participant must meet all of the following requirements: individual is at least 21 years old, has completed one year of service, and is enrolled in the Plan. The match is 25% of the first 6% of credited compensation after one year of service and increases to 50% of the first 6% of credited compensation for participants with four or more years of service. In certain circumstances, the Plan’s true-up feature will automatically adjust the calculation of the Firm matching contribution so participants can receive the full amount of the match based on the aggregate amount of the pretax 401(k) contributions and/or after-tax Roth 401(k) contributions, regardless of how the participant structured his or her contributions throughout the year. If the match rate increased during the year; the timing of that change is reflected in determining the true-up match amount. Participants must be employed by EY on the last business day of the calendar year to be eligible for the true-up.
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 | 2023 audit report, p. 30 ↗ |
| Match vesting | Participants are always 100% vested in their pretax and Roth contributions, and all investment returns on those contributions. The eligible partner contribution vests 100% after three years of service. The below five-year graded vesting schedule applies to the Firm matching contribution, and the one-time minimum contribution for eligible participants regardless of hire date. | 2023 audit report, p. 31 ↗ |
| Automatic enrollment | Automatic enrollment has been incorporated in the Plan and applies to eligible Staff members after completion of one year of service. Employees will receive communications prior to automatic enrollment and will have the option to decline participation prior to automatic enrollment taking effect or change the contribution rate. If no action is taken, then the participant will be automatically enrolled at a 3% pretax contribution rate into an age-based, default investment option based on his or her date of birth. | 2023 audit report, p. 30 ↗ |
| Roth contributions | A participant’s contribution to the Plan can be made through pretax 401(k) contributions and/or after-tax Roth 401(k) contributions. | 2023 audit report, p. 29 ↗ |
| Loans | Participants may borrow from their accounts in increments of $100 up to a maximum equal to the lesser of $50,000 or 50% of their account balance resulting from participant contributions and related investment gains, not less than $500. The portion of the participant’s account resulting from the Firm’s contributions and related investment gains may not be borrowed. Loan terms may not exceed 5 years for general loans or up to 30 years for the purchase of a primary residence. The $50,000 limit is reduced by the participant’s highest outstanding loan balance during the preceding 12-month period. A participant may not be approved for more than one new loan in a calendar year and may not have more than two loans outstanding at any point in time. The loans are secured by the balance in the participant’s account and bear interest at a rate commensurate with local prevailing rates at the date of issuance as determined quarterly by the plan administrator. Principal and interest are paid ratably through monthly payroll deductions over not more than five years, except for loans to purchase a principal residence. If a participant terminates employment with the Firm, he or she may continue to make loan payments through an ACH (automated clearing house) Loan Repayment agreement. If the loan is not repaid, it will automatically be treated as a distribution to the participant after three months. | 2023 audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2024 Schedule C ↗ |
| Independent auditor | Bdo USA, P.C. (unmodified opinion) | 2024 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2024 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2024 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2023 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2024 filing.
How the plan compares
Plan year 2024 medians for 16 defined-contribution plans in professional, scientific, and technical services with 50,000 or more participants.
| EY: employer contribution per participant | $2,778 | |
| Peer median | $2,523 |
| EY: average balance | $194,197 | |
| Peer median | $154,750 |
| EY: admin expenses ÷ assets | 0.03% | |
| Peer median | 0.04% |
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 $15.5B at the end of plan year 2023 to $18.3B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 97,058 | $18.3B | $262M | $2,778 | 0.03% | Not published | Form 5500 ↗ |
| 2023 | 96,780 | $15.5B | $253M | $2,695 | 0.04% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
Other EY plans (4)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Ernst & Young Partnership Retirement (Hr-10) 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 | Bdo Usa,p.C. (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
Ernst & Young Defined Benefit 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 | Bdo USA, P.C. (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Ernst & Young Inactive Defined Benefit 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 | Bdo USA, P.C. (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Ernst & Young Partnership Defined Benefit 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 | Bdo USA, P.C. (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does EY match 401(k) contributions?
The audit report attached to the Ernst & Young Retirement Savings Plan's plan year 2023 Form 5500, page 30 says: “The Firm matching contribution to the 401(k) account of eligible Staff members will be made each pay period in which contributions are made. To be eligible to receive the Firm matching contribution, a participant must meet all of the following requirements: individual is at least 21 years old, has completed one year of service, and is enrolled in the Plan. The match is 25% of the first 6% of credited compensation after one year of service and increases to 50% of the first 6% of credited compensation for participants with four or more years of service. In certain circumstances, the Plan’s true-up feature will automatically adjust the calculation of the Firm matching contribution so participants can receive the full amount of the match based on the aggregate amount of the pretax 401(k) contributions and/or after-tax Roth 401(k) contributions, regardless of how the participant structured his or her contributions throughout the year. If the match rate increased during the year; the timing of that change is reflected in determining the true-up match amount. Participants must be employed by EY on the last business day of the calendar year to be eligible for the true-up.” Plan terms may have changed; check your current Summary Plan Description.
When is the EY 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 31 says: “Participants are always 100% vested in their pretax and Roth contributions, and all investment returns on those contributions. The eligible partner contribution vests 100% after three years of service. The below five-year graded vesting schedule applies to the Firm matching contribution, and the one-time minimum contribution for eligible participants regardless of hire date.”
Who manages the EY 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Ernst & Young U.S. LLP.
I left EY. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Ernst & Young U.S. LLP, (201) 872-2200) or the recordkeeper, Fidelity Investments Institutional. The EY old 401(k) page lists the contacts from every plan filing. Find an old EY 401(k)
Data from the public Form 5500 annual reports EY 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 EY. Not financial advice. Report a correction · Methodology