Fannie Mae 401(k) match, vesting and fees
What Fannie Mae's 401(k) plan says about matching contributions
The Company matches eligible employee before-tax and Roth after-tax contributions, up to 6% of eligible earnings. Matching contributions are determined on a pay period basis. Eligible employees who are employed on the first day of the last pay period of the Plan year receive an additional "true-up" contribution.
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. 29 ↗ |
| Automatic enrollment | Once eligible, an employee first becomes a participant in the Plan when a contribution is made to the employee's Plan account through either the employee's own enrollment or automatic enrollment in the Plan, or when Fannie Mae makes a non-discretionary contribution to the employee's account. | Audit report, p. 29 ↗ |
| Roth contributions | Eligible employees may contribute up to 75% of their eligible compensation (as defined by the Plan) on a before-tax, Roth, and/or traditional after-tax basis, up to applicable limits established by the Internal Revenue Service ("IRS") and Plan limits, including "catch-up" contribution limits applicable to eligible employees who will be age 50 or older before the last day of the Plan year. | Audit report, p. 29 ↗ |
| Loans | Participants have the option to borrow from their accounts up to 50% of their vested balance but may borrow no more than $50,000, subject to applicable IRS rules and Plan provisions. Loans for the purpose of purchasing a residence are amortized over 15 years; all other loans are amortized over a period of one to five years. A participant may have up to two loans outstanding at any one time. Refinancing of loans is not permitted. A one-time loan setup fee of $50 is deducted from the participant's account for each new loan established. | Audit report, p. 31 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Cohnreznick 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 104 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| Fannie Mae: employer contribution per participant | $9,769 | |
| Peer median | $3,632 |
| Fannie Mae: average balance | $383,753 | |
| Peer median | $158,797 |
| Fannie Mae: admin expenses ÷ assets | 0.04% | |
| 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 $3.9B at the end of plan year 2023 to $4.6B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 12,017 | $4.6B | $117M | $9,769 | 0.04% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 12,050 | $3.9B | $110M | $9,218 | 0.03% | Not published | Form 5500 ↗ |
Common questions
Does Fannie Mae match 401(k) contributions?
The audit report attached to the Federal National Mortgage Association Retirement Savings Plan for Employees's plan year 2024 Form 5500, page 29 says: “The Company matches eligible employee before-tax and Roth after-tax contributions, up to 6% of eligible earnings. Matching contributions are determined on a pay period basis. Eligible employees who are employed on the first day of the last pay period of the Plan year receive an additional "true-up" contribution.” Plan terms may have changed; check your current Summary Plan Description.
When is the Fannie Mae 401(k) match vested?
The vesting schedule for the Federal National Mortgage Association Retirement Savings Plan for Employees is not in the data published so far. Your Summary Plan Description states it.
Who manages the Fannie Mae 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Benefit Plans Committee.
I left Fannie Mae. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Benefit Plans Committee, (800) 232-6643) or the recordkeeper, Fidelity Investments Institutional. The Fannie Mae old 401(k) page lists the contacts from every plan filing. Find an old Fannie Mae 401(k)
Data from the public Form 5500 annual reports Fannie Mae 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 Fannie Mae. Not financial advice. Report a correction · Methodology