Funko 401(k) match, vesting and fees
What Funko's 401(k) plan says about matching contributions
In order to satisfy the safe harbor rules of the Internal Revenue Code (the Code), the Employer matches 100% up to 4% of the participant’s eligible compensation for 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. 43 ↗ |
| Match vesting | Participants are vested immediately in their contributions and Employer safe harbor matching contributions, plus actual earnings thereon. Vesting in the Employer’s profit sharing contributions, if any, is based on years of continuous service. A year of service is defined as 1,000 hours worked during a Plan year. In the event a participant terminates employment due to death, disability, or after reaching the Plan’s normal retirement age (65), a participant’s account becomes fully vested. | Audit report, p. 44 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate. Automatically enrolled participants have their deferral rate set at 2% of eligible compensation and their contributions invested in a designated fund until changed by the participant. | Audit report, p. 43 ↗ |
| Roth contributions | Participants may elect to categorize a portion or all of their contribution under the Plan’s Roth deferral feature. | Audit report, p. 43 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant’s account. A participant can only have one loan outstanding at a time. The loan interest rate is set at 1% above the prime rate, as defined. | Audit report, p. 44 ↗ |
| Recordkeeper | Voya Retirement Insurance & Annuity | Schedule C ↗ |
| Independent auditor | Vwc, P.S. (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 479 defined-contribution plans in retail trade with 1,000 to 4,999 participants.
| Funko: employer contribution per participant | $1,638 | |
| Peer median | $1,023 |
| Funko: average balance | $24,947 | |
| Peer median | $43,395 |
| Funko: admin expenses ÷ assets | 0.13% | |
| Peer median | 0.23% |
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 $23M at the end of plan year 2021 to $44.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,835 | $44.9M | $2.9M | $1,638 | 0.13% | Quoted in the audit report, p. 43 ↗ | Form 5500 ↗ |
| 2023 | 1,710 | $35.4M | $3.2M | $1,915 | 0.16% | Not published | Form 5500 ↗ |
| 2022 | 1,758 | $25.4M | $2.9M | $1,754 | 0.15% | Not published | Form 5500 ↗ |
| 2021 | 1,310 | $23M | $1.8M | $1,426 | 0.06% | Not published | Form 5500 ↗ |
Common questions
Does Funko match 401(k) contributions?
The audit report attached to the Funko 401(k) Plan's plan year 2024 Form 5500, page 43 says: “In order to satisfy the safe harbor rules of the Internal Revenue Code (the Code), the Employer matches 100% up to 4% of the participant’s eligible compensation for the Plan year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Funko 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 44 says: “Participants are vested immediately in their contributions and Employer safe harbor matching contributions, plus actual earnings thereon. Vesting in the Employer’s profit sharing contributions, if any, is based on years of continuous service. A year of service is defined as 1,000 hours worked during a Plan year. In the event a participant terminates employment due to death, disability, or after reaching the Plan’s normal retirement age (65), a participant’s account becomes fully vested.”
Who manages the Funko 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Voya Retirement Insurance & Annuity. The plan administrator is Funko, LLC.
I left Funko. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Funko, LLC, (425) 783-3616) or the recordkeeper, Voya Retirement Insurance & Annuity. The Funko old 401(k) page lists the contacts from every plan filing. Find an old Funko 401(k)
Data from the public Form 5500 annual reports Funko filed with the U.S. Department of Labor (plan years 2021 and 2022 and 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 Funko. Not financial advice. Report a correction · Methodology