Perkinelmer US 401(k) match, vesting and fees
What Perkinelmer US' 401(k) plan says about matching contributions
Before April 2024, the Company makes a matching contribution equal to 100% of the participants’ elective deferrals, up to a maximum of 5% of their total compensation. Effective April 19, 2024, the Company makes a matching contribution equal to 50% of the participants’ elective deferrals, up to a maximum of 6% of their compensation. Participants must complete 30 days of service to receive the Employer matching contribution. For the year ended December 31, 2024, the Company made a matching contribution of $4,655,540.
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 | Participants are 100% vested in their individual deferral, Roth, rollover, Company matching contributions, and qualified nonelective contributions, if any, and the allocated earnings thereon. | Audit report, p. 33 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 3% of eligible compensation. Automatic enrollment deferral contributions are increased by 1% each year subsequent to enrollment up to 10%. | Audit report, p. 33 ↗ |
| Roth contributions | Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans (rollovers) and after-tax (Roth) deferrals. | Audit report, p. 32 ↗ |
| Loans | Participants are permitted to borrow a minimum of $1,000 of their vested benefits under the Plan. Participants may borrow up to a maximum equal to the lesser of 50% of their vested account balance or $50,000, reduced by the highest outstanding loan balance in their account during the prior 12-month period. The notes are secured by the participant’s vested account balances and, except for funds used to acquire a principal residence, must have a repayment period of no greater than five years. Loans bear an interest rate that is based on the rates available for similar loans from commercial lending institutions, which would be made under similar circumstances and is fixed for the term of the loan. | Audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Bdo USA, P.C. (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 1,087 defined-contribution plans in professional, scientific, and technical services with 1,000 to 4,999 participants.
| Perkinelmer US: employer contribution per participant | $3,187 | |
| Peer median | $2,556 |
| Perkinelmer US: average balance | $118,785 | |
| Peer median | $100,166 |
| Perkinelmer US: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.11% |
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 $167M at the end of plan year 2023 to $174M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,686 | $174M | $4.7M | $3,187 | 0.11% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 1,483 | $167M | $5M | $3,488 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Perkinelmer US match 401(k) contributions?
The audit report attached to the Perkinelmer US, LLC Savings Plan's plan year 2024 Form 5500, page 32 says: “Before April 2024, the Company makes a matching contribution equal to 100% of the participants’ elective deferrals, up to a maximum of 5% of their total compensation. Effective April 19, 2024, the Company makes a matching contribution equal to 50% of the participants’ elective deferrals, up to a maximum of 6% of their compensation. Participants must complete 30 days of service to receive the Employer matching contribution. For the year ended December 31, 2024, the Company made a matching contribution of $4,655,540.” Plan terms may have changed; check your current Summary Plan Description.
When is the Perkinelmer US 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Participants are 100% vested in their individual deferral, Roth, rollover, Company matching contributions, and qualified nonelective contributions, if any, and the allocated earnings thereon.”
Who manages the Perkinelmer US 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Perkinelmer US, LLC.
I left Perkinelmer US. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Perkinelmer US, LLC, (714) 330-9461) or the recordkeeper, Fidelity Investments Institutional. The Perkinelmer US old 401(k) page lists the contacts from every plan filing. Find an old Perkinelmer US 401(k)
Data from the public Form 5500 annual reports Perkinelmer US 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 Perkinelmer US. Not financial advice. Report a correction · Methodology