Russell Cellular 401(k) match, vesting and fees
What Russell Cellular's 401(k) plan says about matching contributions
For the years ended December 31, 2024 and 2023, the Company made matching contributions equal to 50% of each participant’s elective contribution, up to 3% of each participant’s base compensation.
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. 30 ↗ |
| Match vesting | Vesting – Participants are immediately vested in the individual contributions plus actual earnings thereon. Participants are vested in the Company’s discretionary non-elective and matching contributions (and related earnings thereon) based on years of continuous service; a participant is 100% vested after five years of credited service. A participant also becomes 100% vested upon death or disability. | Audit report, p. 30 ↗ |
| 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 6% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. | Audit report, p. 30 ↗ |
| Recordkeeper | Empower Annuity Ins Company of Amer | Schedule C ↗ |
| Independent auditor | Elliott, Robinson and Company, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 502 defined-contribution plans in retail trade with 500 to 999 participants.
| Russell Cellular: employer contribution per participant | $850 | |
| Peer median | $928 |
| Russell Cellular: average balance | $13,888 | |
| Peer median | $40,685 |
| Russell Cellular: admin expenses ÷ assets | 1.88% | |
| Peer median | 0.37% |
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 $7.6M at the end of plan year 2021 to $12.2M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,526 | $12.2M | $749K | $850 | 1.88% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 1,462 | $10.3M | $978K | $895 | 1.72% | Not published | Form 5500 ↗ |
| 2022 | 1,589 | $7.2M | $976K | $900 | 2.53% | Not published | Form 5500 ↗ |
| 2021 | 1,857 | $7.6M | $838K | $469 | 3.22% | Not published | Form 5500 ↗ |
Common questions
Does Russell Cellular match 401(k) contributions?
The audit report attached to the Russell Cellular 401(k) Plan's plan year 2024 Form 5500, page 30 says: “For the years ended December 31, 2024 and 2023, the Company made matching contributions equal to 50% of each participant’s elective contribution, up to 3% of each participant’s base compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Russell Cellular 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Vesting – Participants are immediately vested in the individual contributions plus actual earnings thereon. Participants are vested in the Company’s discretionary non-elective and matching contributions (and related earnings thereon) based on years of continuous service; a participant is 100% vested after five years of credited service. A participant also becomes 100% vested upon death or disability.”
Who manages the Russell Cellular 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Ins Company of Amer. The plan administrator is Russell Cellular, Inc..
I left Russell Cellular. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Russell Cellular, Inc., (417) 886-7542) or the recordkeeper, Empower Annuity Ins Company of Amer. The Russell Cellular old 401(k) page lists the contacts from every plan filing. Find an old Russell Cellular 401(k)
Data from the public Form 5500 annual reports Russell Cellular filed with the U.S. Department of Labor (plan years 2021 and 2022 and 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 Russell Cellular. Not financial advice. Report a correction · Methodology