Nvidia 401(k) match, vesting and fees
What Nvidia's 401(k) plan says about matching contributions
Employer Contributions: Discretionary matching contributions as defined in the Plan and as approved by the Board of Directors are allowed by the Plan. A participant must be employed as of the end of the Plan year to be eligible. The discretionary match is equal to each dollar contributed by participants on the first $6,000, then $0.50 for each dollar contributed by participants, to a maximum of $9,000. A discretionary matching contribution up to a maximum of $9,000 per participant has been made for the year ended December 31, 2023.
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 | 2023 audit report, p. 100 ↗ |
| Match vesting | Vesting: Participants are immediately vested in their contributions and employer matching contributions. Forfeited Accounts: The Plan allows forfeitures to be used to first pay Plan administrative expenses and then to offset future employer contributions. | 2023 audit report, p. 100 ↗ |
| Roth contributions | Participant Contributions: Participants may elect to have their eligible pre-tax or after-tax compensation (as Roth contributions or traditional after-tax compensation) contributed to the Plan up to the amount allowable under the Plan document and current income tax regulations. | 2023 audit report, p. 100 ↗ |
| Loans | Notes Receivable from Participants: The Plan allows participants to borrow not less than $1,000 and up to the lesser of $50,000 or 50% of their vested account balance. | 2023 audit report, p. 101 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2024 Schedule C ↗ |
| Independent auditor | Crowe LLP (unmodified opinion, limited scope) | 2024 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2024 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2023 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2024 filing.
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.
| Nvidia: employer contribution per participant | $9,296 | |
| Peer median | $2,636 |
| Nvidia: average balance | $250,310 | |
| Peer median | $138,100 |
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 $3.5B at the end of plan year 2023 to $4.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 19,361 | $4.7B | $176M | $9,296 | — | Not published | Form 5500 ↗ |
| 2023 | 16,378 | $3.5B | $117M | $7,406 | — | Quoted in the audit report, p. 100 ↗ | Form 5500 ↗ |
Common questions
Does Nvidia match 401(k) contributions?
The audit report attached to the Nvidia Corporation 401(k) Plan's plan year 2023 Form 5500, page 100 says: “Employer Contributions: Discretionary matching contributions as defined in the Plan and as approved by the Board of Directors are allowed by the Plan. A participant must be employed as of the end of the Plan year to be eligible. The discretionary match is equal to each dollar contributed by participants on the first $6,000, then $0.50 for each dollar contributed by participants, to a maximum of $9,000. A discretionary matching contribution up to a maximum of $9,000 per participant has been made for the year ended December 31, 2023.” Plan terms may have changed; check your current Summary Plan Description.
When is the Nvidia 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 100 says: “Vesting: Participants are immediately vested in their contributions and employer matching contributions. Forfeited Accounts: The Plan allows forfeitures to be used to first pay Plan administrative expenses and then to offset future employer contributions.”
Who manages the Nvidia 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Nvidia Corporation.
I left Nvidia. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Nvidia Corporation, (408) 486-2000) or the recordkeeper, Fidelity Investments Institutional. The Nvidia old 401(k) page lists the contacts from every plan filing. Find an old Nvidia 401(k)
Data from the public Form 5500 annual reports Nvidia 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 Nvidia. Not financial advice. Report a correction · Methodology