Performance Food Group 401(k) match, vesting and fees
What Performance Food Group's 401(k) plan says about matching contributions
The Company matches 100% of participant contributions up to the first three and a half percent of participant compensation. In addition, the Company, at the discretion of the Board of Directors (the “Board”), may make additional contributions of cash to the Plan. In 2024, the Board decided not to provide a discretionary profit-sharing contribution based on the Company’s consolidated prior year pretax profits. For legacy participants from the AFI plan set up for the collectively bargained unit for local union 863, the Company matches 100% of participant contributions up to the first one percent of participant compensation. For legacy participants from the TPC Plan, there were no Company matching contributions during 2024.
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 ↗ |
| Automatic enrollment | Effective December 1, 2024, the Company has amended the Plan to include an automatic enrollment provision. Any employee who becomes eligible will be automatically enrolled in the Plan at a 2% contribution rate unless the employee makes an affirmative election to contribute a different amount, including 0% of compensation. | Audit report, p. 31 ↗ |
| Loans | Participants may borrow from their accounts amounts not less than $1,000 and not exceeding the lesser of $50,000 or 50% of their vested account balances. Loans are to be repaid through payroll deductions over a period of one to five years; however, if the loan proceeds are used to acquire a principal residence of the participant, repayment terms can be extended to 10 years. Repayments of principal and interest are credited directly to the participant’s current investment election. The interest rate charged is set at the time of the loan, fixed for the duration of the loan and is based on the prime rate in effect the day the loan was made. Loan balances due upon termination are either paid in full or will be deducted from the participant’s total distribution from the Plan. | Audit report, p. 34 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Keiter (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 43 defined-contribution plans in wholesale trade with 10,000 to 49,999 participants.
| Performance Food Group: employer contribution per participant | $2,434 | |
| Peer median | $2,266 |
| Performance Food Group: average balance | $80,796 | |
| Peer median | $90,687 |
| Performance Food Group: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.07% |
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 $1.7B at the end of plan year 2023 to $1.9B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 38,825 | $1.9B | $57.1M | $2,434 | 0.11% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 37,863 | $1.7B | $50.3M | $2,150 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Performance Food Group match 401(k) contributions?
The audit report attached to the Performance Food Group Employee Savings Plan's plan year 2024 Form 5500, page 32 says: “The Company matches 100% of participant contributions up to the first three and a half percent of participant compensation. In addition, the Company, at the discretion of the Board of Directors (the “Board”), may make additional contributions of cash to the Plan. In 2024, the Board decided not to provide a discretionary profit-sharing contribution based on the Company’s consolidated prior year pretax profits. For legacy participants from the AFI plan set up for the collectively bargained unit for local union 863, the Company matches 100% of participant contributions up to the first one percent of participant compensation. For legacy participants from the TPC Plan, there were no Company matching contributions during 2024.” Plan terms may have changed; check your current Summary Plan Description.
When is the Performance Food Group 401(k) match vested?
The vesting schedule for the Performance Food Group Employee Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Performance Food Group 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Performance Food Group, Inc..
I left Performance Food Group. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Performance Food Group, Inc., (804) 287-8033) or the recordkeeper, Fidelity Investments Institutional. The Performance Food Group old 401(k) page lists the contacts from every plan filing. Find an old Performance Food Group 401(k)
Data from the public Form 5500 annual reports Performance Food Group 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 Performance Food Group. Not financial advice. Report a correction · Methodology