Sovos Compliance 401(k) match, vesting and fees
What Sovos Compliance's 401(k) plan says about matching contributions
The Company may elect to make a discretionary matching contribution for each plan year. During 2024, the Company matched participant contributions equal to 50% of the participant’s elective deferrals up to 6% of the participant’s compensation for a maximum match of 3% of 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 | 2024 audit report, p. 29 ↗ |
| Automatic enrollment | Newly eligible participants are automatically enrolled at a contribution rate of 3% of plan compensation, unless they make a different election. | 2024 audit report, p. 29 ↗ |
| Roth contributions | Upon meeting eligibility requirements, participants may contribute up to 85% of their plan compensation on a pre-tax or after-tax “Roth” basis, subject to Internal Revenue Code (“IRC”) limitations. | 2024 audit report, p. 29 ↗ |
| 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 percent of their vested account balance. The loans are secured by the balance in the participant's account. Loans bear an interest rate of prime. All loans must be repaid within five years unless the proceeds are used to acquire a principal residence, in which case a longer repayment period is allowed. No more than two loans may be outstanding at any time. | 2024 audit report, p. 30 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2025 Schedule C ↗ |
| Independent auditor | Caron & Bletzer, PLLC (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 63 defined-contribution plans in information with 1,000 to 4,999 participants.
| Sovos Compliance: employer contribution per participant | $1,918 | |
| Peer median | $2,452 |
| Sovos Compliance: average balance | $93,460 | |
| Peer median | $111,657 |
| Sovos Compliance: admin expenses ÷ assets | 0.19% | |
| Peer median | 0.10% |
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 $59.3M at the end of plan year 2021 to $108M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,192 | $108M | $2.2M | $1,918 | 0.19% | Not published | Form 5500 ↗ |
| 2024 | 1,407 | $93.6M | $2.4M | $1,849 | 0.21% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 1,344 | $78.1M | $2.4M | $1,886 | 0.21% | Not published | Form 5500 ↗ |
| 2022 | 1,385 | $60.1M | $2.2M | $1,653 | 0.21% | Not published | Form 5500 ↗ |
| 2021 | 1,184 | $59.3M | $1.8M | $1,638 | 0.30% | Not published | Form 5500 ↗ |
Common questions
Does Sovos Compliance match 401(k) contributions?
The audit report attached to the Sovos Compliance, LLC 401(k) Retirement Plan's plan year 2024 Form 5500, page 29 says: “The Company may elect to make a discretionary matching contribution for each plan year. During 2024, the Company matched participant contributions equal to 50% of the participant’s elective deferrals up to 6% of the participant’s compensation for a maximum match of 3% of compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Sovos Compliance 401(k) match vested?
The vesting schedule for the Sovos Compliance, LLC 401(k) Retirement Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Sovos Compliance 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Fidelity Investments Institutional. The plan administrator is Sovos Compliance, LLC.
I left Sovos Compliance. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Sovos Compliance, LLC, (866) 890-3970) or the recordkeeper, Fidelity Investments Institutional. The Sovos Compliance old 401(k) page lists the contacts from every plan filing. Find an old Sovos Compliance 401(k)
Data from the public Form 5500 annual reports Sovos Compliance filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) 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 Sovos Compliance. Not financial advice. Report a correction · Methodology