Hewlett Packard Enterprise 401(k) match, vesting and fees
What Hewlett Packard Enterprise's 401(k) plan says about matching contributions
The Company matching contribution is equal to 100% of the first 4% of eligible compensation a participant contributes each payroll period. The Company matching contribution will be funded after the end of the calendar quarter. In order to qualify for the quarterly Company matching contribution, a participant must be employed by HPE or a member of its affiliated group on the last day of the quarter or have terminated employment during the calendar quarter as a result of such participant’s death, or in connection with a sale or other disposition by the Company of the business unit in which the participant was employed. In addition, a participant is entitled to receive the Company matching contribution “true-up” in an amount equal to the difference between 100% of the first 4% of eligible compensation a participant contributed during a plan year and the sum of Company matching contributions contributed on behalf of such participant during the calendar year, if the participant is an eligible employee with HPE at the end of the calendar year (with a few limited exceptions) or terminates employment due to the approved termination events.
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. 235 ↗ |
| Match vesting | Participants are fully-vested at all times with regard to their pre-tax, Roth 401(k) and non-Roth after-tax contributions and earnings thereon. In general, participants become fully-vested in their Company matching contributions and earnings thereon upon completion of one year of vesting service. In addition, a participant becomes 100% vested in their Company matching contributions, and earnings thereon, at attainment of age 65, death before termination of employment, or termination of employment due to a partial or total disability while receiving long-term disability benefits under the Hewlett Packard Enterprise Disability Plan. Participants are also fully vested in their Company matching contributions, and earnings thereon, if they terminate employment in connection with a sale or divestiture by the Company of the business unit in which the participant had been employed, pursuant to the terms of certain service schedules under the approved termination events, or as set forth in the plan document. | Audit report, p. 236 ↗ |
| Automatic enrollment | Eligible employees are enrolled automatically in the Plan at a 3% pre-tax contribution rate in the Birth Date Fund based generally on the year the eligible employee was born. | Audit report, p. 236 ↗ |
| Roth contributions | Employees can choose pre-tax contributions, after-tax Roth 401(k) contributions, non-Roth after-tax contributions or a combination of the three, subject to the aggregate limits. Contributions are also subject to annual limits specified under the Code. The Code’s annual limit on pre-tax and Roth 401(k) contributions was $23,000 for 2024. The Plan’s annual limit on non-Roth after-tax contributions is established by the plan administrator in its discretion and was $23,000 for 2024. | Audit report, p. 235 ↗ |
| Loans | The Plan offers two types of loans, which are general-purpose loans and primary residence loans. The repayment period for a general-purpose loan may not exceed five years, and the repayment period for a primary residence loan may not exceed 15 years. 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 balances. Loans are secured by the participant’s vested account. Interest rates remain fixed for the life of the loan and are based on a rate that is commensurate with interest charged for loans that would be made under similar circumstances. | Audit report, p. 237 ↗ |
| Recordkeeper | Fidelity Inv Instl Ops Co | Schedule C ↗ |
| Independent auditor | Ernst & Young (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 37 defined-contribution plans in information with 10,000 to 49,999 participants.
| Hewlett Packard Enterprise: employer contribution per participant | $3,276 | |
| Peer median | $3,276 |
| Hewlett Packard Enterprise: average balance | $312,331 | |
| Peer median | $162,288 |
| Hewlett Packard Enterprise: admin expenses ÷ assets | 0.02% | |
| Peer median | 0.05% |
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 $8.2B at the end of plan year 2023 to $8.8B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 28,480 | $8.8B | $92.2M | $3,276 | 0.02% | Quoted in the audit report, p. 235 ↗ | Form 5500 ↗ |
| 2023 | 30,351 | $8.2B | $93.7M | $3,126 | 0.01% | Not published | Form 5500 ↗ |
Other Hewlett Packard Enterprise plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Hewlett Packard Enterprise Puerto Rico Tax Saving Capital Accumulation Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Yanira Rosario Cpa LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
Common questions
Does Hewlett Packard Enterprise match 401(k) contributions?
The audit report attached to the Hewlett Packard Enterprise 401(K)plan's plan year 2024 Form 5500, page 235 says: “The Company matching contribution is equal to 100% of the first 4% of eligible compensation a participant contributes each payroll period. The Company matching contribution will be funded after the end of the calendar quarter. In order to qualify for the quarterly Company matching contribution, a participant must be employed by HPE or a member of its affiliated group on the last day of the quarter or have terminated employment during the calendar quarter as a result of such participant’s death, or in connection with a sale or other disposition by the Company of the business unit in which the participant was employed. In addition, a participant is entitled to receive the Company matching contribution “true-up” in an amount equal to the difference between 100% of the first 4% of eligible compensation a participant contributed during a plan year and the sum of Company matching contributions contributed on behalf of such participant during the calendar year, if the participant is an eligible employee with HPE at the end of the calendar year (with a few limited exceptions) or terminates employment due to the approved termination events.” Plan terms may have changed; check your current Summary Plan Description.
When is the Hewlett Packard Enterprise 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 236 says: “Participants are fully-vested at all times with regard to their pre-tax, Roth 401(k) and non-Roth after-tax contributions and earnings thereon. In general, participants become fully-vested in their Company matching contributions and earnings thereon upon completion of one year of vesting service. In addition, a participant becomes 100% vested in their Company matching contributions, and earnings thereon, at attainment of age 65, death before termination of employment, or termination of employment due to a partial or total disability while receiving long-term disability benefits under the Hewlett Packard Enterprise Disability Plan. Participants are also fully vested in their Company matching contributions, and earnings thereon, if they terminate employment in connection with a sale or divestiture by the Company of the business unit in which the participant had been employed, pursuant to the terms of certain service schedules under the approved termination events, or as set forth in the plan document.”
Who manages the Hewlett Packard Enterprise 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Inv Instl Ops Co. The plan administrator is Hewlett Packard Enterprise.
I left Hewlett Packard Enterprise. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Hewlett Packard Enterprise, (650) 236-7137) or the recordkeeper, Fidelity Inv Instl Ops Co. The Hewlett Packard Enterprise old 401(k) page lists the contacts from every plan filing. Find an old Hewlett Packard Enterprise 401(k)
Data from the public Form 5500 annual reports Hewlett Packard Enterprise 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 Hewlett Packard Enterprise. Not financial advice. Report a correction · Methodology