Jabil 401(k) match, vesting and fees
What Jabil's 401(k) plan says about matching contributions
The Plan is a Safe Harbor 401(k) plan. Under the Safe Harbor 401(k) plan, employer Safe Harbor matching contributions to highly compensated employees may not be at a greater rate than the match to non-highly compensated employees. The Company makes matching contributions to the Plan, which amounts to 100% of the first 3% of compensation as defined by the Plan and 50% of employee deferral contributions between 3% and 5% of compensation.
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. 29 ↗ |
| Match vesting | Vesting: Participants are immediately vested in their contributions, Safe Harbor matching contributions, discretionary contributions, and any actual earnings thereon. | Audit report, p. 30 ↗ |
| Roth contributions | Participants may designate a portion, or all, of their deferred contributions as Roth contributions, which are includable in the participant’s gross income. | Audit report, p. 29 ↗ |
| Loans | Notes Receivable from Participants: Participants may borrow a minimum of $1,000 and a maximum of the lesser of 50% of their vested account balance or $50,000. Interest rates on these loans are at prime, plus 1% and the interest rates for outstanding loans currently range from 4.25% to 9.50% at December 31, 2024. Loans must be repaid within five years, unless the loan is taken for the purchase of a primary residence, which may be repaid over a period not to exceed 30 years. Participants repay principal and interest through payroll deductions. If participants terminate or retire, they will have the choice of repaying the loan or having the loan offset from their account. The offset loan amount will be considered a taxable distribution. | Audit report, p. 30 ↗ |
| Recordkeeper | Merrill Lynch, Pierce, Fenner and S | Schedule C ↗ |
| Independent auditor | Gray, Gray & Gray, 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.
| Jabil: employer contribution per participant | $2,289 | |
| Peer median | $3,733 |
| Jabil: average balance | $85,268 | |
| Peer median | $157,962 |
| Jabil: admin expenses ÷ assets | 0.06% | |
| 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 $1.1B at the end of plan year 2023 to $1.3B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 15,402 | $1.3B | $34M | $2,289 | 0.06% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 14,046 | $1.1B | $31.4M | $2,346 | 0.06% | Not published | Form 5500 ↗ |
Common questions
Does Jabil match 401(k) contributions?
The audit report attached to the Jabil 401(k) Retirement Plan's plan year 2024 Form 5500, page 29 says: “The Plan is a Safe Harbor 401(k) plan. Under the Safe Harbor 401(k) plan, employer Safe Harbor matching contributions to highly compensated employees may not be at a greater rate than the match to non-highly compensated employees. The Company makes matching contributions to the Plan, which amounts to 100% of the first 3% of compensation as defined by the Plan and 50% of employee deferral contributions between 3% and 5% of compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Jabil 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Vesting: Participants are immediately vested in their contributions, Safe Harbor matching contributions, discretionary contributions, and any actual earnings thereon.”
Who manages the Jabil 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Merrill Lynch, Pierce, Fenner and S. The plan administrator is Jabil, Inc..
I left Jabil. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Jabil, Inc., (727) 803-5324) or the recordkeeper, Merrill Lynch, Pierce, Fenner and S. The Jabil old 401(k) page lists the contacts from every plan filing. Find an old Jabil 401(k)
Data from the public Form 5500 annual reports Jabil 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 Jabil. Not financial advice. Report a correction · Methodology