Salesforce 401(k) match, vesting and fees
What Salesforce's 401(k) plan says about matching contributions
Employer contributions - The Company is allowed to make discretionary matching and nonelective contributions as defined in the plan document and as approved by the Committee. The Company matches 100 percent of each eligible participant’s contributions up to the lesser of six percent of eligible annual compensation or $5,000 per calendar year.
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 | 2023 audit report, p. 157 ↗ |
| Match vesting | Participants are immediately vested in their contributions and in the Company's discretionary matching contributions allocated to their account. Participants are fully vested in the Company's discretionary nonelective contributions after five years of credited service. | 2023 audit report, p. 158 ↗ |
| Automatic enrollment | Unless the employee affirmatively elected otherwise, the Plan permits automatic enrollment of eligible employees in the Plan with an initial contribution of 6 percent increased annually by one percent to 15 percent. | 2023 audit report, p. 157 ↗ |
| Roth contributions | Participant contributions - Participants may elect to have the Company contribute their eligible pre-tax, after-tax or Roth after-tax compensation to the Plan, up to the amount allowable under the plan document and current income tax regulations. | 2023 audit report, p. 157 ↗ |
| Loans | The Plan allows participants to borrow not less than $1,000 and up to the lesser of $50,000 or 50 percent of their vested account balance. | 2023 audit report, p. 158 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2024 Schedule C ↗ |
| Independent auditor | Carr, Riggs & Ingram LLC (unmodified opinion, limited scope) | 2024 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2024 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2023 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2024 filing.
How the plan compares
Plan year 2024 medians for 14 defined-contribution plans in information with 50,000 or more participants.
| Salesforce: employer contribution per participant | $3,519 | |
| Peer median | $3,236 |
| Salesforce: average balance | $169,051 | |
| Peer median | $164,552 |
| Salesforce: admin expenses ÷ assets | 0.02% | |
| Peer median | 0.03% |
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 $7.3B at the end of plan year 2023 to $9.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 54,081 | $9.1B | $189M | $3,519 | 0.02% | Not published | Form 5500 ↗ |
| 2023 | 54,401 | $7.3B | $196M | $3,640 | 0.02% | Quoted in the audit report, p. 157 ↗ | Form 5500 ↗ |
Common questions
Does Salesforce match 401(k) contributions?
The audit report attached to the Salesforce 401(k) Plan's plan year 2023 Form 5500, page 157 says: “Employer contributions - The Company is allowed to make discretionary matching and nonelective contributions as defined in the plan document and as approved by the Committee. The Company matches 100 percent of each eligible participant’s contributions up to the lesser of six percent of eligible annual compensation or $5,000 per calendar year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Salesforce 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 158 says: “Participants are immediately vested in their contributions and in the Company's discretionary matching contributions allocated to their account. Participants are fully vested in the Company's discretionary nonelective contributions after five years of credited service.”
Who manages the Salesforce 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Salesforce, Inc..
I left Salesforce. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Salesforce, Inc., (415) 901-7000) or the recordkeeper, Fidelity Investments Institutional. The Salesforce old 401(k) page lists the contacts from every plan filing. Find an old Salesforce 401(k)
Data from the public Form 5500 annual reports Salesforce 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 Salesforce. Not financial advice. Report a correction · Methodology