Massachusetts Institute of Technology 401(k) match, vesting and fees
What Massachusetts Institute of Technology's 401(k) plan says about matching contributions
The Institute matches the employee contribution on a dollar-for-dollar basis up to 5% of the participant's compensation for the year, subject to certain pre or post tax limitations.
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. 238 ↗ |
| Match vesting | Participants are 100% vested immediately in all contributions plus actual earnings thereon. | Audit report, p. 239 ↗ |
| Roth contributions | Upon enrollment, the employee agrees to accept a specified reduction in salary/wage, on a pre-tax or post-tax Roth basis, for each pay period in consideration of the Institute’s contributing such amount to the Plan. | Audit report, p. 238 ↗ |
| Loans | Participants may borrow a minimum of $1,000 from their accounts up to a maximum amount prescribed by the Code. The loans are secured by the balance in the participant's account and bear interest at rates that range from 3.25% to 9.00% at December 31, 2024 and December 31, 2023.These rates are commensurate with local prevailing rates as determined by the plan administrator at the time of the loan. Loans are recorded at net realizable value. Participants may borrow one loan at a time from their accounts, from a minimum of $1,000 up to a maximum equal to the lesser of $50,000 minus the highest outstanding balance of any loans active during the 12-month period ending on the day before the new loan, or 50 percent of their vested account balance. | Audit report, p. 239 ↗ |
| Independent auditor | Pricewaterhousecoopers 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 54 defined-contribution plans in educational services with 10,000 to 49,999 participants.
| Massachusetts Institute of Technology: employer contribution per participant | $3,369 | |
| Peer median | $3,952 |
| Massachusetts Institute of Technology: average balance | $301,839 | |
| Peer median | $137,350 |
| Massachusetts Institute of Technology: admin expenses ÷ assets | 0.01% | |
| Peer median | 0.02% |
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 $6.8B at the end of plan year 2023 to $7.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 27,457 | $7.7B | $86.1M | $3,369 | 0.01% | Quoted in the audit report, p. 238 ↗ | Form 5500 ↗ |
| 2023 | 26,851 | $6.8B | $80M | $3,214 | 0.01% | Not published | Form 5500 ↗ |
Other Massachusetts Institute of Technology plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Massachusetts Institute of Technology Basic Retirement 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 | Hedgeserve Cayman Ltd | Schedule C ↗ |
| Independent auditor | Pricewaterhousecoopers (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Massachusetts Institute of Technology match 401(k) contributions?
The audit report attached to the Massachusetts Institute of Technology Supplemental 401(k) Plan's plan year 2024 Form 5500, page 238 says: “The Institute matches the employee contribution on a dollar-for-dollar basis up to 5% of the participant's compensation for the year, subject to certain pre or post tax limitations.” Plan terms may have changed; check your current Summary Plan Description.
When is the Massachusetts Institute of Technology 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 239 says: “Participants are 100% vested immediately in all contributions plus actual earnings thereon.”
Who manages the Massachusetts Institute of Technology 401(k)?
The filing names Massachusetts Institute of Technology as plan administrator; it does not list a recordkeeper.
I left Massachusetts Institute of Technology. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Massachusetts Institute of Technology, (617) 253-2734). The Massachusetts Institute of Technology old 401(k) page lists the contacts from every plan filing. Find an old Massachusetts Institute of Technology 401(k)
Data from the public Form 5500 annual reports Massachusetts Institute of Technology 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 Massachusetts Institute of Technology. Not financial advice. Report a correction · Methodology