Guitar Center 401(k) match, vesting and fees
What Guitar Center's 401(k) plan says about matching contributions
The Plan provides for discretionary Company matching contributions of 100 percent of the eligible participant’s elective pre-tax and Roth contributions up to two percent of eligible compensation up to the annual limit in code section 401(a)(7). The discretionary Company matching contribution was $2,881,731 for the year ended December 31, 2024.
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 | 2024 audit report, p. 30 ↗ |
| Match vesting | Vesting - Participants are vested immediately in their contributions and discretionary Company matching contributions, plus actual earnings thereon. Vesting in the Company’s prior profit sharing contribution portion of their accounts is based on years of service. Participants vest in Company profit sharing contributions at a rate of 20 percent per year and are 100 percent vested after five years of service. While still employed by the Company, if a participant becomes disabled, dies or reaches normal retirement age, as such terms are defined in the Plan, the participant becomes 100 percent vested. Forfeitures - Forfeitures of Company contributions may be used to pay for Plan administrative expenses and to reduce future Company contributions and total $7,109 and $149 as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, no forfeitures were utilized. | 2024 audit report, p. 30 ↗ |
| Roth contributions | Contributions - Each year, participants may make pre-tax and Roth deferrals of up to 75 percent of their annual eligible compensation, as defined in the Plan and subject to certain limitations under the Internal Revenue Code (“IRC”). | 2024 audit report, p. 30 ↗ |
| Loans | Participants may borrow from their fund accounts up to a maximum equal to the lesser of $50,000 less the highest outstanding loan balance during the prior 12 months or 50 percent of their vested account balance. Loans are generally issued with a maturity of up to five years. The term of any loan for the purpose of purchasing a primary residence shall not exceed 10 years. The loan interest rate is determined by the plan administrator based on prevailing rates, as defined by the Plan. Principal and interest is paid via ACH directly to the Trustee by participants. Terminated participants are allowed to continue to repay loans directly to the Trustee in accordance with their loan agreement. | 2024 audit report, p. 34 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2025 Schedule C ↗ |
| Independent auditor | Hotlhouse Carlin & Van Trigt LLP (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2025 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 25 defined-contribution plans in retail trade with 5,000 to 9,999 participants.
| Guitar Center: employer contribution per participant | $645 | |
| Peer median | $1,062 |
| Guitar Center: average balance | $42,592 | |
| Peer median | $57,877 |
| Guitar Center: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.13% |
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 $128M at the end of plan year 2022 to $216M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 14,882 | $216M | $3.3M | $645 | 0.04% | Not published | Form 5500 ↗ |
| 2024 | 15,197 | $182M | $3.1M | $600 | 0.04% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 14,588 | $158M | $2.8M | $535 | 0.05% | Not published | Form 5500 ↗ |
| 2022 | 14,207 | $128M | $3.2M | $573 | 0.07% | Not published | Form 5500 ↗ |
Common questions
Does Guitar Center match 401(k) contributions?
The audit report attached to the Guitar Center, Inc. 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Plan provides for discretionary Company matching contributions of 100 percent of the eligible participant’s elective pre-tax and Roth contributions up to two percent of eligible compensation up to the annual limit in code section 401(a)(7). The discretionary Company matching contribution was $2,881,731 for the year ended December 31, 2024.” Plan terms may have changed; check your current Summary Plan Description.
When is the Guitar Center 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Vesting - Participants are vested immediately in their contributions and discretionary Company matching contributions, plus actual earnings thereon. Vesting in the Company’s prior profit sharing contribution portion of their accounts is based on years of service. Participants vest in Company profit sharing contributions at a rate of 20 percent per year and are 100 percent vested after five years of service. While still employed by the Company, if a participant becomes disabled, dies or reaches normal retirement age, as such terms are defined in the Plan, the participant becomes 100 percent vested. Forfeitures - Forfeitures of Company contributions may be used to pay for Plan administrative expenses and to reduce future Company contributions and total $7,109 and $149 as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, no forfeitures were utilized.”
Who manages the Guitar Center 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Fidelity Investments Institutional. The plan administrator is Guitar Center, Inc. Benefits Committee.
I left Guitar Center. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Guitar Center, Inc. Benefits Committee, (818) 735-8800) or the recordkeeper, Fidelity Investments Institutional. The Guitar Center old 401(k) page lists the contacts from every plan filing. Find an old Guitar Center 401(k)
Data from the public Form 5500 annual reports Guitar Center filed with the U.S. Department of Labor (plan years 2022 and 2023 and 2024 and 2025) 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 Guitar Center. Not financial advice. Report a correction · Methodology