Raymond James Financial 401(k) match, vesting and fees
What Raymond James Financial's 401(k) plan says about matching contributions
Company contributions are at the discretion of the Company’s Board of Directors, in amounts not to exceed the maximum permitted as a deductible expense by the Internal Revenue Code (IRC). Company contributions, if any, are funded annually. In 2024, the Company matching contribution was calculated as $0.75 for each of the first $1,000 dollars contributed by an employee, and $0.25 for each of the second $1,000 dollars contributed by the employee, for a maximum of $1,000 per participant. Company matching contributions are based on the combined pre-tax and Roth deferrals and are applied to the participant’s pre-tax deferral account.
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. 34 ↗ |
| Match vesting | Vesting: Participants are always 100% vested in their voluntary contributions and rollover contributions, plus any Plan earnings thereon. A participant’s vested percentage in their accounts attributable to employer contributions, plus actual Plan earnings, thereon is based on years of vesting service. Participants will become 100% vested after five years of service. | Audit report, p. 35 ↗ |
| Automatic enrollment | The Plan includes an automatic deferral election for 5% of compensation 30 days after the employee’s date of employment. The automatic elective deferral percentage shall be automatically increased 1% annually, up to a maximum of 8%. | Audit report, p. 34 ↗ |
| Roth contributions | Employees may elect to cancel the deferral, thereby declining participation in the Plan, elect a different percentage, or designate the deferrals as Roth deferrals. The Plan includes a Roth 401(k) deferral election. This election allows participants to defer wages post-tax. Five years after the initial Roth contribution, future withdrawals, including earnings, are tax-free. Participants may contribute under both the Roth and pre-tax elections, subject to the regulatory maximum for elective deferrals and, if applicable, the catch-up contribution. Deferrals are segregated in the participant’s account by pre-tax and Roth. The Plan allows in-Plan Roth rollovers from all or any portion of a participants vested account that is not otherwise eligible for distribution. This applies to in-Plan Roth rollovers of otherwise non-distributable amounts. | Audit report, p. 34 ↗ |
| Loans | Notes Receivable From Participants: Participants may borrow from their accounts a minimum of $1,000 up to a maximum amount equal to the lesser of 50% of their vested account balance or $50,000, reduced by any outstanding loan balance, if any during the one-year period ending on the day before the new loan is made, if less. Loans are secured by the balance in a participant’s account. All loans bear a reasonable rate of interest. Principal and interest are paid ratably through payroll deductions or payment by check. The term of the loan may not exceed five years unless it is for the purchase of a participant’s principal residence. | Audit report, p. 35 ↗ |
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Crowe LLP (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 104 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| Raymond James Financial: employer contribution per participant | $791 | |
| Peer median | $3,632 |
| Raymond James Financial: average balance | $159,481 | |
| Peer median | $158,797 |
| Raymond James Financial: admin expenses ÷ assets | 0.03% | |
| 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 $2.4B at the end of plan year 2023 to $2.9B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 18,276 | $2.9B | $14.3M | $791 | 0.03% | Quoted in the audit report, p. 34 ↗ | Form 5500 ↗ |
| 2023 | 17,831 | $2.4B | $13.9M | $788 | 0.03% | Not published | Form 5500 ↗ |
Other Raymond James Financial plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Raymond James Financial, Inc. & Affiliates Profit Sharing 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.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Crowe LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
Raymond James Financial, Inc. & Affiliates Employee Stock Ownership 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.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Crowe LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
Common questions
Does Raymond James Financial match 401(k) contributions?
The audit report attached to the Raymond James Financial, Inc. 401(k) Plan's plan year 2024 Form 5500, page 34 says: “Company contributions are at the discretion of the Company’s Board of Directors, in amounts not to exceed the maximum permitted as a deductible expense by the Internal Revenue Code (IRC). Company contributions, if any, are funded annually. In 2024, the Company matching contribution was calculated as $0.75 for each of the first $1,000 dollars contributed by an employee, and $0.25 for each of the second $1,000 dollars contributed by the employee, for a maximum of $1,000 per participant. Company matching contributions are based on the combined pre-tax and Roth deferrals and are applied to the participant’s pre-tax deferral account.” Plan terms may have changed; check your current Summary Plan Description.
When is the Raymond James Financial 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 35 says: “Vesting: Participants are always 100% vested in their voluntary contributions and rollover contributions, plus any Plan earnings thereon. A participant’s vested percentage in their accounts attributable to employer contributions, plus actual Plan earnings, thereon is based on years of vesting service. Participants will become 100% vested after five years of service.”
Who manages the Raymond James Financial 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Raymond James Financial, Inc..
I left Raymond James Financial. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Raymond James Financial, Inc., (727) 567-4317) or the recordkeeper, Principal Life Insurance Company. The Raymond James Financial old 401(k) page lists the contacts from every plan filing. Find an old Raymond James Financial 401(k)
Data from the public Form 5500 annual reports Raymond James Financial 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 Raymond James Financial. Not financial advice. Report a correction · Methodology