Freddie Mac 401(k) match, vesting and fees
What Freddie Mac's 401(k) plan says about matching contributions
After an eligible employee completes 1,000 hours of service in the 12-month period beginning on the participant’s first day of employment (“Eligibility Service”), Freddie Mac matches 100% of each participant’s contribution for up to 6% of the participant’s eligible compensation, each pay period. A “true-up” of the Freddie Mac match is made after the end of each Plan year. The true-up match is the difference between the total applicable Freddie Mac match for deferrals during the Plan year (based on the actual pay), and the total amount of the Freddie Mac match that each participant received each pay period during the Plan year. Freddie Mac will make the true-up matching contribution to each eligible participant’s account during the first quarter following the end of the Plan year. Participants eligible for a true up are those who contribute at least 6% of compensation for the Plan year and are employed with Freddie Mac through December 31 of the Plan 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. 28 ↗ |
| Automatic enrollment | Eligible participants will be automatically enrolled in the Plan at a rate of 6% on a pre-tax basis, unless they elect to opt out or elect another deferral percentage. | Audit report, p. 28 ↗ |
| Roth contributions | Employee contributions can be made on a pre-tax (401(k)) and/or post-tax (Roth) basis, subject to the above limitations. | Audit report, p. 28 ↗ |
| Loans | Participants may borrow up to 50% of their vested balance, exclusive of the Basic, Discretionary and Fixed Contribution Account, with a maximum loan amount of $50,000 (or the lesser of $100,000 or 100% of the participant’s vested account balance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act). Loans are repaid with interest via payroll deductions and the repayments are credited to the participants’ accounts. | Audit report, p. 31 ↗ |
| Recordkeeper | Fidelity Investments Inst Opns Co | Schedule C ↗ |
| Independent auditor | Sc&H Attest Services P.C. (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 104 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| Freddie Mac: employer contribution per participant | $9,039 | |
| Peer median | $3,632 |
| Freddie Mac: average balance | $316,431 | |
| Peer median | $158,797 |
| Freddie Mac: admin expenses ÷ assets | <0.01% | |
| 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 $3.2B at the end of plan year 2023 to $3.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 11,828 | $3.7B | $106M | $9,039 | <0.01% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 11,636 | $3.2B | $93.1M | $8,103 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does Freddie Mac match 401(k) contributions?
The audit report attached to the Federal Home Loan Mortgage Corp Thrift/401(K) Savings Plan's plan year 2024 Form 5500, page 28 says: “After an eligible employee completes 1,000 hours of service in the 12-month period beginning on the participant’s first day of employment (“Eligibility Service”), Freddie Mac matches 100% of each participant’s contribution for up to 6% of the participant’s eligible compensation, each pay period. A “true-up” of the Freddie Mac match is made after the end of each Plan year. The true-up match is the difference between the total applicable Freddie Mac match for deferrals during the Plan year (based on the actual pay), and the total amount of the Freddie Mac match that each participant received each pay period during the Plan year. Freddie Mac will make the true-up matching contribution to each eligible participant’s account during the first quarter following the end of the Plan year. Participants eligible for a true up are those who contribute at least 6% of compensation for the Plan year and are employed with Freddie Mac through December 31 of the Plan year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Freddie Mac 401(k) match vested?
The vesting schedule for the Federal Home Loan Mortgage Corp Thrift/401(K) Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Freddie Mac 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Inst Opns Co. The plan administrator is Federal Home Loan Mortgage Corp Retirement Plan Admin Committee.
I left Freddie Mac. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Federal Home Loan Mortgage Corp Retirement Plan Admin Committee, (703) 918-8070) or the recordkeeper, Fidelity Investments Inst Opns Co. The Freddie Mac old 401(k) page lists the contacts from every plan filing. Find an old Freddie Mac 401(k)
Data from the public Form 5500 annual reports Freddie Mac 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 Freddie Mac. Not financial advice. Report a correction · Methodology