Intuit 401(k) match, vesting and fees
What Intuit's 401(k) plan says about matching contributions
The Plan also provides for discretionary Employer matching contributions. For the year ended December 31, 2024, the Company matched 125% of deferrals up to 6% of a participant's compensation, not to exceed $10,000 annually.
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. 54 ↗ |
| Match vesting | Participants are vested immediately in their contributions, Employer matching contributions, and Employer nonelective contributions plus actual earnings thereon. | Audit report, p. 55 ↗ |
| Automatic enrollment | Eligible employees are automatically enrolled in the Plan with a 6% deferral rate. Deferral rates are automatically increased annually up to 50%. Eligible employees who do not wish to participate in the Plan may affirmatively elect to opt out, or they may elect a different deferral percentage. | Audit report, p. 54 ↗ |
| Roth contributions | Participants may contribute up to 50% of their compensation, as defined in the Plan document, as either pretax, Roth, or after-tax deferrals. | Audit report, p. 54 ↗ |
| Loans | Participants may borrow from their vested accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000, reduced by the excess of the highest outstanding loan balance during the preceding 12-month period over the loan balance on the date of the loan, or 50% of their vested account balance. The loans are secured by the balance in the participant's account and bear interest at rates that range from 3.50% to 9.50%, which is based on prime rate plus 1% on the date of origination. Participants may have two loans outstanding at any given time. | Audit report, p. 55 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Hogantaylor LLP (unmodified opinion, limited scope) | 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 203 defined-contribution plans in manufacturing with 10,000 to 49,999 participants.
| Intuit: employer contribution per participant | $3,704 | |
| Peer median | $3,733 |
| Intuit: average balance | $111,046 | |
| Peer median | $157,962 |
| Intuit: admin expenses ÷ assets | <0.01% | |
| 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 $3.1B at the end of plan year 2023 to $3.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 35,542 | $3.7B | $123M | $3,704 | <0.01% | Quoted in the audit report, p. 54 ↗ | Form 5500 ↗ |
| 2023 | 30,868 | $3.1B | $114M | $3,786 | 0.05% | Not published | Form 5500 ↗ |
Common questions
Does Intuit match 401(k) contributions?
The audit report attached to the Intuit Inc. 401(k) Plan's plan year 2024 Form 5500, page 54 says: “The Plan also provides for discretionary Employer matching contributions. For the year ended December 31, 2024, the Company matched 125% of deferrals up to 6% of a participant's compensation, not to exceed $10,000 annually.” Plan terms may have changed; check your current Summary Plan Description.
When is the Intuit 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 55 says: “Participants are vested immediately in their contributions, Employer matching contributions, and Employer nonelective contributions plus actual earnings thereon.”
Who manages the Intuit 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Intuit Inc..
I left Intuit. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Intuit Inc., (669) 437-0266) or the recordkeeper, Empower Annuity Insurance Company. The Intuit old 401(k) page lists the contacts from every plan filing. Find an old Intuit 401(k)
Data from the public Form 5500 annual reports Intuit 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 Intuit. Not financial advice. Report a correction · Methodology