Schott 401(k) match, vesting and fees
What Schott's 401(k) plan says about matching contributions
The Company will make an annual safe harbor matching contribution equal to 100% of a participant’s pre-tax and/or Roth 401(k) deferral not exceeding 1% of eligible compensation, plus 50% of the participants pre-and/or Roth 401(k) deferral from 2% through 6% (next 5%) of eligible 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. 31 ↗ |
| Match vesting | Participants are vested immediately in their contributions plus actual earnings thereon. Vesting in the Company's contribution portion of their accounts is based on years of continuous service. A participant is 20% vested after one year of credited service and 100% vested after two years of credited service. | Audit report, p. 32 ↗ |
| Automatic enrollment | The Plan includes an automatic enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan at 6% pre-tax unless they affirmatively elect to either not participate in the Plan or set a different deferral rate of their choosing. Participants will have their deferral rate increase by 1% at the beginning of each calendar year until their deferral rate reaches 10%. | Audit report, p. 31 ↗ |
| Roth contributions | Each year, participants may contribute up to 50% of eligible compensation up to the annual maximum limits of the IRC on either a pre-tax and/or Roth 401(k) basis into their individual account of the Schott Corporation 401(k) Plan. | Audit report, p. 31 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant's account. The loan interest rate, determined monthly, is set at the Prime rate, as defined. | Audit report, p. 32 ↗ |
| Recordkeeper | Empower Annuity Insurance Company O | Schedule C ↗ |
| Independent auditor | Baker Tilly US, 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 1,619 defined-contribution plans in manufacturing with 1,000 to 4,999 participants.
| Schott: employer contribution per participant | $3,905 | |
| Peer median | $2,413 |
| Schott: average balance | $137,431 | |
| Peer median | $86,456 |
| Schott: admin expenses ÷ assets | 0.09% | |
| Peer median | 0.12% |
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 $170M at the end of plan year 2021 to $173M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,297 | $173M | $4.9M | $3,905 | 0.09% | Quoted in the audit report, p. 31 ↗ | Form 5500 ↗ |
| 2023 | 1,326 | $161M | $4.3M | $3,326 | 0.15% | Not published | Form 5500 ↗ |
| 2022 | 1,344 | $150M | $5.3M | $3,914 | 0.13% | Not published | Form 5500 ↗ |
| 2021 | 1,389 | $170M | $5.1M | $3,771 | 0.11% | Not published | Form 5500 ↗ |
Other Schott plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Schott Corporation 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 | Baker Tilly US, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Schott match 401(k) contributions?
The audit report attached to the Schott Corporation 401(k) Plan's plan year 2024 Form 5500, page 31 says: “The Company will make an annual safe harbor matching contribution equal to 100% of a participant’s pre-tax and/or Roth 401(k) deferral not exceeding 1% of eligible compensation, plus 50% of the participants pre-and/or Roth 401(k) deferral from 2% through 6% (next 5%) of eligible compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Schott 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 32 says: “Participants are vested immediately in their contributions plus actual earnings thereon. Vesting in the Company's contribution portion of their accounts is based on years of continuous service. A participant is 20% vested after one year of credited service and 100% vested after two years of credited service.”
Who manages the Schott 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company O. The plan administrator is Schott Corporation.
I left Schott. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Schott Corporation, (914) 831-2212) or the recordkeeper, Empower Annuity Insurance Company O. The Schott old 401(k) page lists the contacts from every plan filing. Find an old Schott 401(k)
Data from the public Form 5500 annual reports Schott 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 Schott. Not financial advice. Report a correction · Methodology