Oracle 401(k) match, vesting and fees
What Oracle's 401(k) plan says about matching contributions
Oracle matches 50% of an active participant’s salary deferrals up to a maximum deferral of 6% of compensation for the pay period, with maximum aggregate matching of $5,100 in any calendar year. Oracle hasthe right, under the Plan, to discontinue or modify its matching contributions at any time. Participants may also contribute amounts representing distributions from other qualified plans. All of Oracle’s matching contributions are made in cash on a pre‐tax basis.
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. 355 ↗ |
| Match vesting | All elective contributions made by participants and earnings on those contributions are 100% vested at all times. Participants’ vesting in Oracle’s matching contributions is based on years of service. Participants are 25% vested after one year of service and vest an additional 25% on each successive service anniversary date, becoming 100% vested after four years of service. Participants forfeit the nonvested portion of their accounts in the Plan upon termination of employment with Oracle. Forfeited balances of terminated participants’ nonvested accounts may be used at Oracle’s discretion, as outlined in the Plan, to reduce its matching contribution obligations. During the year ended December 31, 2023, Oracle used approximately $9,400,000 of forfeited balances to reduce its matching contribution obligations. The amounts of unallocated forfeitures as of December 31, 2023 and 2022 were approximately $639,000 and $860,000, respectively. | 2023 audit report, p. 356 ↗ |
| Roth contributions | Salary deferrals consist of pre‐ tax and/or Roth 401(k) contributions. | 2023 audit report, p. 355 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 and up to a maximum of $50,000 or 50% of their vested account balance, whichever is less. Loan terms may not exceed five years unless the loan is used to purchase a participant’s principal residence, in which case repayment terms may not exceed 10 years. The loans are secured by the balance in the participant’s account and bear interest at a rate commensurate with local prevailing lending rates determined by the 401(k) Committee. Principal and interest is paid ratably through payroll deductions and participants may elect to submit additional payments outside of payroll deductions in order to reduce principal loan balances on an accelerated basis. Loans are generally due in full within 90 days of termination with Oracle unless the participant arranges for loan repayments to continue via monthly debit from a checking or savings account in a bank located in the United States. | 2023 audit report, p. 356 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2024 Schedule C ↗ |
| Independent auditor | Sensiba LLP (unmodified opinion) | 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 16 defined-contribution plans in professional, scientific, and technical services with 50,000 or more participants.
| Oracle: employer contribution per participant | $2,018 | |
| Peer median | $2,523 |
| Oracle: average balance | $310,724 | |
| Peer median | $154,750 |
| Oracle: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.04% |
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 $26.3B at the end of plan year 2023 to $31B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 101,985 | $31B | $201M | $2,018 | 0.04% | Not published | Form 5500 ↗ |
| 2023 | 103,417 | $26.3B | $204M | $2,010 | 0.04% | Quoted in the audit report, p. 355 ↗ | Form 5500 ↗ |
Common questions
Does Oracle match 401(k) contributions?
The audit report attached to the Oracle Corporation 401(k) Savings and Investment Plan's plan year 2023 Form 5500, page 355 says: “Oracle matches 50% of an active participant’s salary deferrals up to a maximum deferral of 6% of compensation for the pay period, with maximum aggregate matching of $5,100 in any calendar year. Oracle hasthe right, under the Plan, to discontinue or modify its matching contributions at any time. Participants may also contribute amounts representing distributions from other qualified plans. All of Oracle’s matching contributions are made in cash on a pre‐tax basis.” Plan terms may have changed; check your current Summary Plan Description.
When is the Oracle 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 356 says: “All elective contributions made by participants and earnings on those contributions are 100% vested at all times. Participants’ vesting in Oracle’s matching contributions is based on years of service. Participants are 25% vested after one year of service and vest an additional 25% on each successive service anniversary date, becoming 100% vested after four years of service. Participants forfeit the nonvested portion of their accounts in the Plan upon termination of employment with Oracle. Forfeited balances of terminated participants’ nonvested accounts may be used at Oracle’s discretion, as outlined in the Plan, to reduce its matching contribution obligations. During the year ended December 31, 2023, Oracle used approximately $9,400,000 of forfeited balances to reduce its matching contribution obligations. The amounts of unallocated forfeitures as of December 31, 2023 and 2022 were approximately $639,000 and $860,000, respectively.”
Who manages the Oracle 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Oracle Corporation.
I left Oracle. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Oracle Corporation, (650) 506-7000) or the recordkeeper, Fidelity Investments Institutional. The Oracle old 401(k) page lists the contacts from every plan filing. Find an old Oracle 401(k)
Data from the public Form 5500 annual reports Oracle 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 Oracle. Not financial advice. Report a correction · Methodology