The Home Depot 401(k) match, vesting and fees
What The Home Depot's 401(k) plan says about matching contributions
The Company provides matching contributions of 150% of the first 1% of eligible compensation contributed by a participant and 50% of the next 2% to 5% of eligible compensation contributed by a participant beginning on the first day of the calendar quarter following the completion of the earlier of (i) the date the associate completes one year of service and 1,000 hours; or (ii) the date the associate completes two years of service, regardless of hours worked. Before-tax and after-tax (Roth) contributions are eligible for matching contributions. Catch-up contributions are not eligible for matching contributions.
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. 22 ↗ |
| Match vesting | Participants are immediately vested in their contributions and net value changes thereon. Vesting in the Company's matching and discretionary contributions and net value changes thereon is generally based on years of vesting service. For vesting purposes, a year of service is any calendar year in which a participant completes at least 1,000 hours of service. A participant is cliff vested 100% in the Company's matching contributions after three years of vesting service. In addition, each participant who completes an hour of service becomes 100% vested in the Company's matching contributions upon completing five years of employment if such event precedes the vesting dates above. A participant becomes 100% vested in the Company's matching and any discretionary contributions and net value changes thereon upon death, attaining age 65 while still employed, total or permanent disability, or if the Plan is terminated. | 2023 audit report, p. 22 ↗ |
| Roth contributions | Under the Plan, participants may contribute up to 50% of annual compensation, as defined in the Plan, on a before-tax basis and/or an after-tax (Roth) basis subject to regulatory limitations. | 2023 audit report, p. 22 ↗ |
| Loans | Participants may borrow from their accounts a minimum of $1,000 and up to a maximum amount equal to the lesser of: (i) $50,000 less the highest outstanding loan balance in the preceding 12 months less a $50 fee or (ii) 50% of their total vested account balance less a $50 fee. | 2023 audit report, p. 23 ↗ |
| Recordkeeper | Alight Solutions LLC | 2024 Schedule C ↗ |
| Independent auditor | KPMG LLP (unmodified opinion) | 2024 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2024 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 2024 filing.
How the plan compares
Plan year 2024 medians for 22 defined-contribution plans in retail trade with 50,000 or more participants.
| The Home Depot: employer contribution per participant | $1,223 | |
| Peer median | $1,179 |
| The Home Depot: average balance | $63,918 | |
| Peer median | $58,043 |
| The Home Depot: admin expenses ÷ assets | 0.15% | |
| Peer median | 0.09% |
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 $12.6B at the end of plan year 2023 to $14.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 439,390 | $14.1B | $271M | $1,223 | 0.15% | Not published | Form 5500 ↗ |
| 2023 | 446,735 | $12.6B | $258M | $1,169 | 0.00% | Quoted in the audit report, p. 22 ↗ | Form 5500 ↗ |
Other The Home Depot plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
The Home Depot Futurebuilder for Puerto Rico
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 | Alight Solutions, LLC | Schedule C ↗ |
| Independent auditor | KPMG LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Common questions
Does The Home Depot match 401(k) contributions?
The audit report attached to the The Home Depot Futurebuilder's plan year 2023 Form 5500, page 22 says: “The Company provides matching contributions of 150% of the first 1% of eligible compensation contributed by a participant and 50% of the next 2% to 5% of eligible compensation contributed by a participant beginning on the first day of the calendar quarter following the completion of the earlier of (i) the date the associate completes one year of service and 1,000 hours; or (ii) the date the associate completes two years of service, regardless of hours worked. Before-tax and after-tax (Roth) contributions are eligible for matching contributions. Catch-up contributions are not eligible for matching contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the The Home Depot 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 22 says: “Participants are immediately vested in their contributions and net value changes thereon. Vesting in the Company's matching and discretionary contributions and net value changes thereon is generally based on years of vesting service. For vesting purposes, a year of service is any calendar year in which a participant completes at least 1,000 hours of service. A participant is cliff vested 100% in the Company's matching contributions after three years of vesting service. In addition, each participant who completes an hour of service becomes 100% vested in the Company's matching contributions upon completing five years of employment if such event precedes the vesting dates above. A participant becomes 100% vested in the Company's matching and any discretionary contributions and net value changes thereon upon death, attaining age 65 while still employed, total or permanent disability, or if the Plan is terminated.”
Who manages the The Home Depot 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Alight Solutions LLC. The plan administrator is Administrative Committee of the Home Depot Futurebuilder.
I left The Home Depot. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Administrative Committee of the Home Depot Futurebuilder, (770) 384-5328) or the recordkeeper, Alight Solutions LLC. The The Home Depot old 401(k) page lists the contacts from every plan filing. Find an old The Home Depot 401(k)
Data from the public Form 5500 annual reports The Home Depot 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 The Home Depot. Not financial advice. Report a correction · Methodology