Heico 401(k) match, vesting and fees
What Heico's 401(k) plan says about matching contributions
Employer Contributions - The Company generally makes a 50% Employer Matching Contribution, as determined by the Board, based on a participant’s Elective Deferral Contribution up to 6% of the participant’s Compensation for the Elective Deferral Contribution period.
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. 34 ↗ |
| Match vesting | Vesting - Participants receive 100% vesting in Employee Contributions and on cash dividends received on Company stock. Vesting in Employer Contributions is based on a participant’s number of Years of Service as calculated on a Plan Year (calendar year) basis. A participant is 20% vested after two Years of Service, 40% after three years, 60% after four years, 80% after five years, and 100% after six years. A participant becomes 100% vested in Employer Contributions upon retirement, disability, or death. | 2023 audit report, p. 35 ↗ |
| Automatic enrollment | Participants hired on or after January 1, 2006 are automatically enrolled in the Plan upon meeting the Plan’s eligibility requirements at an Elective Deferral Contribution rate of 3% of the participant’s Compensation unless the participant elects a greater or lesser deferral percentage, or elects not to contribute to the Plan. | 2023 audit report, p. 34 ↗ |
| Roth contributions | Most significantly, the amended and restated Plan offers Plan participants the option to elect to classify all or a portion of an Elective Deferral Contribution as a Roth Elective Deferral effective July 1, 2022. Further, Roth rollovers began being accepted into the Plan effective March 30, 2022. | 2023 audit report, p. 33 ↗ |
| Loans | Withdrawals and Notes Receivable from Participants - Participants can withdraw contributed amounts under certain circumstances of immediate and heavy financial need through a “hardship withdrawal” or borrow against the vested portion of their account balance for certain financial needs. A participant is limited to no more than two loans outstanding at any given time. The amount of any loan may not be less than $1,000, and the aggregate of a participant's loans may not exceed the lesser of $50,000 or 50% of the participant's vested account balance. Loans are secured by the vested portion of a participant’s account. The annual interest rate on all loans is equal to the prime rate as published on the last day of the calendar quarter preceding the date the loan is made plus one percent (1%). The repayment term of any loan may not exceed five years, except with respect to a residential loan, which may not exceed 15 years. | 2023 audit report, p. 35 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2025 Schedule C ↗ |
| Independent auditor | Cbiz Cpas P.C. (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
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 2025 filing.
How the plan compares
Plan year 2025 medians for 91 defined-contribution plans in manufacturing with 5,000 to 9,999 participants.
| Heico: employer contribution per participant | $2,376 | |
| Peer median | $2,852 |
| Heico: average balance | $144,192 | |
| Peer median | $136,445 |
| Heico: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.07% |
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 $741M at the end of plan year 2021 to $1.3B at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 9,131 | $1.3B | $21M | $2,376 | 0.04% | Not published | Form 5500 ↗ |
| 2024 | 8,419 | $1B | $17.2M | $2,127 | 0.03% | Not published | Form 5500 ↗ |
| 2023 | 8,283 | $843M | $15.6M | $1,980 | 0.04% | Quoted in the audit report, p. 34 ↗ | Form 5500 ↗ |
| 2022 | 6,719 | $701M | $12.8M | $1,990 | 0.04% | Not published | Form 5500 ↗ |
| 2021 | 5,702 | $741M | $10.6M | $1,905 | 0.04% | Not published | Form 5500 ↗ |
Common questions
Does Heico match 401(k) contributions?
The audit report attached to the Heico Savings and Investment Plan's plan year 2023 Form 5500, page 34 says: “Employer Contributions - The Company generally makes a 50% Employer Matching Contribution, as determined by the Board, based on a participant’s Elective Deferral Contribution up to 6% of the participant’s Compensation for the Elective Deferral Contribution period.” Plan terms may have changed; check your current Summary Plan Description.
When is the Heico 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 35 says: “Vesting - Participants receive 100% vesting in Employee Contributions and on cash dividends received on Company stock. Vesting in Employer Contributions is based on a participant’s number of Years of Service as calculated on a Plan Year (calendar year) basis. A participant is 20% vested after two Years of Service, 40% after three years, 60% after four years, 80% after five years, and 100% after six years. A participant becomes 100% vested in Employer Contributions upon retirement, disability, or death.”
Who manages the Heico 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Fidelity Investments Institutional. The plan administrator is Heico Corporation.
I left Heico. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Heico Corporation, (954) 987-4000) or the recordkeeper, Fidelity Investments Institutional. The Heico old 401(k) page lists the contacts from every plan filing. Find an old Heico 401(k)
Data from the public Form 5500 annual reports Heico filed with the U.S. Department of Labor (plan years 2021 and 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 Heico. Not financial advice. Report a correction · Methodology