MUFG Bank 401(k) match, vesting and fees
What MUFG Bank's 401(k) plan says about matching contributions
The Employer makes an annual matching contribution shortly following the end of the plan year equal to 100% of pretax salary deferral and/or Roth contributions for the first 3% of eligible pay and 50% of pretax salary deferral and/or Roth contributions for the next 2% of eligible pay. The maximum matching contribution is 4% of eligible pay. To be eligible to receive the annual matching contribution, participants must be employed on the last business day of the plan year or have experienced a qualified midyear retirement or layoff. Participants must be employed on September 30 of the plan year to be eligible to receive the annual matching contribution.
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. 32 ↗ |
| Match vesting | Vesting—All contributions, including matching contributions and any other Company-provided contributions, and earnings thereon are fully vested and nonforfeitable at all times. | Audit report, p. 33 ↗ |
| Roth contributions | Contributions—Participants may elect to contribute between 1% and 75% of their eligible compensation as defined in the Plan on a pretax and/or Roth basis, subject to certain IRC limits. Eligible compensation includes base pay and most incentive pay. The Employer makes an annual matching contribution shortly following the end of the plan year equal to 100% of pretax salary deferral and/or Roth contributions for the first 3% of eligible pay and 50% of pretax salary deferral and/or Roth contributions for the next 2% of eligible pay. | Audit report, p. 32 ↗ |
| Loans | The Plan allows participants to borrow up to 50% of their vested balance, up to a maximum loan of $50,000. The loans are secured by the balance in the participant’s account with terms of one year to five years, unless the loan is used to purchase a primary residence, in which case the term may extend to 15 years. Prior to the merger of the Bank of Tokyo-Mitsubishi UFJ, Ltd. 401(k) Savings and Investment Plan (the “BTMU Plan”) with the Plan on January 1, 2015, BTMU Plan participants were allowed to elect a repayment period of up to 30 years for loans used to purchase a primary residence. Maturities on certain loans have been inherited from loans rolled into the Plan from the BTMU Plan. | Audit report, p. 33 ↗ |
| Recordkeeper | Alight Solutions LLC | Schedule C ↗ |
| Independent auditor | Deloitte & Touche 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 105 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| MUFG Bank: employer contribution per participant | $2,839 | |
| Peer median | $3,632 |
| MUFG Bank: average balance | $235,498 | |
| Peer median | $158,114 |
| MUFG Bank: 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 $3.1B at the end of plan year 2022 to $2.9B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 12,779 | $2.9B | $34.5M | $2,839 | 0.02% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 13,793 | $2.9B | $34.9M | $2,622 | 0.02% | Not published | Form 5500 ↗ |
| 2022 | 18,842 | $3.1B | $58.8M | $3,209 | 0.03% | Not published | Form 5500 ↗ |
Other MUFG Bank plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Mufg Bank, Ltd. 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 | Alight Solutions LLC | Schedule C ↗ |
| Independent auditor | Deloitte & Touche LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
The Bank of Tokyo-Mitsubishi Ufj, Ltd. Cash Balance 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 | Deloitte & Touche LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does MUFG Bank match 401(k) contributions?
The audit report attached to the Mufg Bank Ltd. 401(k) Plan's plan year 2024 Form 5500, page 32 says: “The Employer makes an annual matching contribution shortly following the end of the plan year equal to 100% of pretax salary deferral and/or Roth contributions for the first 3% of eligible pay and 50% of pretax salary deferral and/or Roth contributions for the next 2% of eligible pay. The maximum matching contribution is 4% of eligible pay. To be eligible to receive the annual matching contribution, participants must be employed on the last business day of the plan year or have experienced a qualified midyear retirement or layoff. Participants must be employed on September 30 of the plan year to be eligible to receive the annual matching contribution.” Plan terms may have changed; check your current Summary Plan Description.
When is the MUFG Bank 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Vesting—All contributions, including matching contributions and any other Company-provided contributions, and earnings thereon are fully vested and nonforfeitable at all times.”
Who manages the MUFG Bank 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Alight Solutions LLC. The plan administrator is Mufg Bank, Ltd.
I left MUFG Bank. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Mufg Bank, Ltd, (866) 275-4717) or the recordkeeper, Alight Solutions LLC. The MUFG Bank old 401(k) page lists the contacts from every plan filing. Find an old MUFG Bank 401(k)
Data from the public Form 5500 annual reports MUFG Bank filed with the U.S. Department of Labor (plan years 2021 and 2022 and 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 MUFG Bank. Not financial advice. Report a correction · Methodology