McKinsey 401(k) match, vesting and fees
What McKinsey's 401(k) plan says about matching contributions
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.
| Match vesting | Contributions are 100% vested at all times. | Audit report, p. 32 ↗ |
| Automatic enrollment | Participants (other than Summer Associates and Interns) who join or re-join the Plan in the U.S. are automatically enrolled in pre-tax 401(k) payroll contributions at a rate of 5% of eligible compensation, unless they elect not to participate. Contributions are subject to an automatic increase of 1% each year, up to a total contribution rate of 10%. | Audit report, p. 31 ↗ |
| Roth contributions | The Plan permits 401(k) pre-tax salary reduction, Roth 401(k) after-tax, and other voluntary after-tax contributions from a participant, subject to a combined limitation of 70% of a participant’s qualified compensation as defined under Section 401(a)(17) of the Internal Revenue Code (“IRC”). The limit on 401(k) and Roth 401(k) deductions combined was $23,000 for 2024 and $22,500 for 2023. | Audit report, p. 31 ↗ |
| Loans | Plan participants have the right, within limitations, to obtain personal loans from the Plan, collateralized by their interest in the Plan. Participants may have a maximum of five loans outstanding at one time. Interest on these loans is charged at the prime rate and was between 7.75% and 8.50% for new loans in the Plan year 2024 and 7.00% and 8.50% for new loans in the Plan year 2023. | Audit report, p. 32 ↗ |
| Recordkeeper | Alight Solutions LLC | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (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 94 defined-contribution plans in professional, scientific, and technical services with 10,000 to 49,999 participants.
| McKinsey: employer contribution per participant | $2,669 | |
| Peer median | $2,636 |
| McKinsey: average balance | $281,694 | |
| Peer median | $138,100 |
| McKinsey: 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 $9.1B at the end of plan year 2023 to $9.8B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 35,298 | $9.8B | $93M | $2,669 | 0.02% | Not published | Form 5500 ↗ |
| 2023 | 36,077 | $9.1B | $131M | $3,686 | 0.03% | Not published | Form 5500 ↗ |
Other McKinsey plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Mckinsey & Company, Inc. (Mppp) Money Purchase Pension 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 | Alight Solutions | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Mckinsey & Company, Inc. Partner Cash Balance 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.
| Independent auditor | Grant Thornton LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does McKinsey match 401(k) contributions?
The match terms for the Mckinsey & Company, Inc. (Psrp) Profit Sharing Retirement Plan have not been published from its filing yet. The plan year 2024 filing reports $93M in employer contributions, about $2,669 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the McKinsey 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Contributions are 100% vested at all times.”
Who manages the McKinsey 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Alight Solutions LLC. The plan administrator is Mckinsey & Company, Inc..
I left McKinsey. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Mckinsey & Company, Inc., (212) 446-7000) or the recordkeeper, Alight Solutions LLC. The McKinsey old 401(k) page lists the contacts from every plan filing. Find an old McKinsey 401(k)
Data from the public Form 5500 annual reports McKinsey 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 McKinsey. Not financial advice. Report a correction · Methodology