Modern HR 401(k) match, vesting and fees
What Modern HR'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.
| Loans | Participants are permitted to borrow from their fund accounts as defined by the Adoption Agreements, subject to certain limitations. All notes receivable are adequately secured by the participant’s account balance, bear interest as defined by the Adoption Agreements, and generally repaid on an installment basis through payroll deductions over a period not to exceed five years, except when borrowed funds are used to acquire a principal residence. | Audit report, p. 49 ↗ |
| Recordkeeper | Transamerica Life Insurance Company | Schedule C ↗ |
| Independent auditor | Walters & Sklyar 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 277 defined-contribution plans in administrative, support and waste management services with 1,000 to 4,999 participants.
| Modern HR: employer contribution per participant | $938 | |
| Peer median | $1,484 |
| Modern HR: average balance | $33,822 | |
| Peer median | $40,395 |
| Modern HR: admin expenses ÷ assets | 0.42% | |
| Peer median | 0.34% |
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 $93.1M at the end of plan year 2023 to $108M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 13,470 | $108M | $3M | $938 | 0.42% | Not published | Form 5500 ↗ |
| 2023 | 10,401 | $93.1M | $2M | $772 | 0.43% | Not published | Form 5500 ↗ |
Common questions
Does Modern HR match 401(k) contributions?
The match terms for the The Connectme 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $3M in employer contributions, about $938 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Modern HR 401(k) match vested?
The vesting schedule for the The Connectme 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Modern HR 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Transamerica Life Insurance Company. The plan administrator is Modern HR, Inc..
I left Modern HR. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Modern HR, Inc., (310) 270-9800) or the recordkeeper, Transamerica Life Insurance Company. The Modern HR old 401(k) page lists the contacts from every plan filing. Find an old Modern HR 401(k)
Data from the public Form 5500 annual reports Modern HR 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 Modern HR. Not financial advice. Report a correction · Methodology