Merck 401(k) match, vesting and fees
What Merck's 401(k) plan says about matching contributions
In addition, the Company makes matching contributions of $0.75 for every $1.00 of an employee's contributions, up to 6% of such employee's eligible compensation (maximum match is 4.5% of eligible compensation) per pay period (to the statutory limit). The combination of before-tax, Roth, after-tax and Company matching contributions may not exceed the statutory limit ($69,000 in 2024). Participant and Company matching contributions are invested according to a participant’s elections.
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. 28 ↗ |
| Match vesting | Participants are immediately vested in their contributions, all Company matching contributions, plus actual earnings thereon. | Audit report, p. 29 ↗ |
| Automatic enrollment | Participants are automatically enrolled in the Plan 60 days after first becoming eligible with a before-tax base pay contribution rate of 6%. In addition, each participant with a before-tax base pay contribution rate of at least 1% may elect to participate in an annual automatic increase program, in whole percentages of at least 1% and not more than 3% per year. The annual percentage increase continues automatically up to 10%. | Audit report, p. 28 ↗ |
| Roth contributions | Participants may contribute up to 25% of their annual eligible compensation through a combination of before-tax and Roth contributions (in 1% increments), up to the combined statutory elective deferral limit ($23,000 in 2024). Participants may also contribute up to 25% of their annual eligible compensation on an after-tax basis. Upon reaching the statutory elective deferral limit for combined before-tax and Roth contributions, the participant may elect to suspend contributions for the remainder of the year or elect to continue on an after-tax basis. The sum of before-tax, Roth and after-tax contributions cannot exceed 50% of annual eligible compensation. | Audit report, p. 28 ↗ |
| Loans | Participants may borrow from their account balances with interest charged at the prime rate in effect on the last business day of the prior month plus 1%. Once set, the interest rate is in effect for the duration of the loan. Loan terms range from one to five years for a short-term loan or up to fifteen years for the purchase of a primary residence and bear interest at rates that range from 4.25% to 10.50%. The minimum loan is $1,000 and the maximum loan is the lesser of (i) $50,000 less the highest outstanding loan balance(s) during the one-year period prior to the new loan application date, or (ii) 50% of the participant’s account balance less any current outstanding loan balance(s) and defaulted loan amounts. Principal and interest are paid ratably through payroll deductions. Loan terms are grandfathered into the Plan in accordance with the legacy plan guidelines, including loan terms for participants that transferred into the Plan from a legacy plan. | Audit report, p. 29 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Pricewaterhousecoopers 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 203 defined-contribution plans in manufacturing with 10,000 to 49,999 participants.
| Merck: employer contribution per participant | $5,149 | |
| Peer median | $3,733 |
| Merck: average balance | $368,488 | |
| Peer median | $157,962 |
| Merck: 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 $13.4B at the end of plan year 2023 to $15B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 41,241 | $15B | $209M | $5,149 | <0.01% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 40,572 | $13.4B | $193M | $4,823 | <0.01% | Not published | Form 5500 ↗ |
Other Merck plans (3)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Msd Employee Stock Purchase & Savings 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 | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Pricewaterhousecoopers LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Merck US 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.
| Independent auditor | Pricewaterhousecoopers LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Retirement Plan for the Hourly Employees of Msd
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 | Pricewaterhouse Coopers LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Merck match 401(k) contributions?
The audit report attached to the Merck US Savings Plan's plan year 2024 Form 5500, page 28 says: “In addition, the Company makes matching contributions of $0.75 for every $1.00 of an employee's contributions, up to 6% of such employee's eligible compensation (maximum match is 4.5% of eligible compensation) per pay period (to the statutory limit). The combination of before-tax, Roth, after-tax and Company matching contributions may not exceed the statutory limit ($69,000 in 2024). Participant and Company matching contributions are invested according to a participant’s elections.” Plan terms may have changed; check your current Summary Plan Description.
When is the Merck 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Participants are immediately vested in their contributions, all Company matching contributions, plus actual earnings thereon.”
Who manages the Merck 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Merck Sharp & Dohme LLC.
I left Merck. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Merck Sharp & Dohme LLC, (732) 594-4000) or the recordkeeper, Fidelity Investments Institutional. The Merck old 401(k) page lists the contacts from every plan filing. Find an old Merck 401(k)
Data from the public Form 5500 annual reports Merck 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 Merck. Not financial advice. Report a correction · Methodology