Pfizer 401(k) match, vesting and fees
What Pfizer's 401(k) plan says about matching contributions
For all participants, contributions of up to 3% of eligible compensation are matched 100% by the Company and the next 3% are matched 50% by the Company. Participant contributions in excess of 6% are not matched. Participants who have attained age 50 before the end of the Plan’s year are eligible to make catch-up contributions; however, these contributions are not matched.
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. 71 ↗ |
| Match vesting | Participants are immediately 100% vested in their contributions and the Company matching contributions. However, for the RSC, participants are 100% vested after three years of credited service. | Audit report, p. 72 ↗ |
| Automatic enrollment | Newly eligible participants who do not affirmatively enroll in the Plan within 31 days of hire or transfer into eligible employment are automatically enrolled at a 6% before-tax contribution rate. | Audit report, p. 73 ↗ |
| Roth contributions | The Plan includes a Roth 401(k) in-plan conversion option, which allows participants to transfer after-tax dollars into the Roth account within the Plan and allows for tax-free earnings on those contributions. If subsequent distributions are considered “qualified Roth distributions” under the Code, such distributions are not subject to taxes. | Audit report, p. 72 ↗ |
| Loans | Participants may borrow from their account balances with the interest rate set at 1% above the prime rate. The minimum loan is $1,000 and the maximum loan is the lesser of (i) 50% of the vested account balance reduced by any current outstanding loan balance or (ii) $50,000, reduced by the current outstanding loan balance. Loans must be repaid within five years, unless the funds are used to purchase a primary residence. Primary residence loans must be repaid within 15 years. Loans transferred to the Plan due to the merger of legacy plans into the Plan maintain the terms of the original loan. Interest rates on outstanding loans ranged from 3.25% to 10.50% at December 31, 2024 and 2023. | Audit report, p. 73 ↗ |
| Recordkeeper | Fid Inv Inst Ops Co | Schedule C ↗ |
| Independent auditor | KPMG LLP (unmodified opinion) | 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 28 defined-contribution plans in manufacturing with 50,000 or more participants.
| Pfizer: employer contribution per participant | $9,686 | |
| Peer median | $4,356 |
| Pfizer: average balance | $385,330 | |
| Peer median | $263,591 |
| Pfizer: admin expenses ÷ assets | 0.05% | |
| Peer median | 0.01% |
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 $19.5B at the end of plan year 2023 to $22B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 57,113 | $22B | $552M | $9,686 | 0.05% | Quoted in the audit report, p. 71 ↗ | Form 5500 ↗ |
| 2023 | 59,490 | $19.5B | $553M | $9,856 | 0.03% | Not published | Form 5500 ↗ |
Other Pfizer plans (3)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Upjohn International, Inc. Contributory Final Average 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.
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Pfizer Consolidated 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 | KPMG LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Wyeth Coordinated Bargaining Retirement Plan-Us
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 | KPMG LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Pfizer match 401(k) contributions?
The audit report attached to the Pfizer Savings Plan's plan year 2024 Form 5500, page 71 says: “For all participants, contributions of up to 3% of eligible compensation are matched 100% by the Company and the next 3% are matched 50% by the Company. Participant contributions in excess of 6% are not matched. Participants who have attained age 50 before the end of the Plan’s year are eligible to make catch-up contributions; however, these contributions are not matched.” Plan terms may have changed; check your current Summary Plan Description.
When is the Pfizer 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 72 says: “Participants are immediately 100% vested in their contributions and the Company matching contributions. However, for the RSC, participants are 100% vested after three years of credited service.”
Who manages the Pfizer 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fid Inv Inst Ops Co. The plan administrator is The Savings Plan Committee.
I left Pfizer. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (The Savings Plan Committee, (212) 733-2323) or the recordkeeper, Fid Inv Inst Ops Co. The Pfizer old 401(k) page lists the contacts from every plan filing. Find an old Pfizer 401(k)
Data from the public Form 5500 annual reports Pfizer 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 Pfizer. Not financial advice. Report a correction · Methodology