Starbucks 401(k) match, vesting and fees
What Starbucks' 401(k) plan says about matching contributions
The Plan uses a Safe Harbor Match formula. The Starbucks Match is equal to 100% of the first 5% of eligible pay that a participant contributes each pay period during the Plan Year. This match formula will also apply to future calendar years unless changed by Starbucks. Matching contributions are made to participating employee accounts each payroll period.
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. 29 ↗ |
| Match vesting | All participant and Company matching contributions are immediately 100% vested. | 2023 audit report, p. 29 ↗ |
| Roth contributions | Eligible employees may elect to defer eligible compensation on a 401(k) pre-tax basis, a Roth after-tax basis or a combination of both. | 2023 audit report, p. 29 ↗ |
| Loans | The Plan provides for two types of loans: a general purpose loan and a primary residence loan. Only one outstanding loan of each type is permitted at any time. Plan participants may obtain fixed-rate loans, generally for periods not to exceed five years, against their vested account balances provided that certain conditions are met and that approval is granted by the Plan’s trustees. If the loan is for the purchase of a primary residence, the repayment period can extend up to 15 years. Interest is paid by the borrower at a fixed rate of prime rate plus 1% and is retained in the borrower’s account until the account balance is withdrawn. At December 31, 2023 and 2022, interest rates on outstanding participant loans receivable ranged from 4.25% to 9.50% per annum. | 2023 audit report, p. 30 ↗ |
| Recordkeeper | Fidelity Investments Institutional | 2024 Schedule C ↗ |
| Independent auditor | Grant Thornton (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 22 defined-contribution plans in retail trade with 50,000 or more participants.
| Starbucks: employer contribution per participant | $1,121 | |
| Peer median | $1,179 |
| Starbucks: average balance | $29,852 | |
| Peer median | $58,043 |
| Starbucks: admin expenses ÷ assets | 0.08% | |
| Peer median | 0.09% |
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 $4.1B at the end of plan year 2023 to $4.9B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 299,619 | $4.9B | $184M | $1,121 | 0.08% | Not published | Form 5500 ↗ |
| 2023 | 307,988 | $4.1B | $173M | $1,069 | 0.09% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
Common questions
Does Starbucks match 401(k) contributions?
The audit report attached to the Starbucks Corporation 401(k) Plan's plan year 2023 Form 5500, page 29 says: “The Plan uses a Safe Harbor Match formula. The Starbucks Match is equal to 100% of the first 5% of eligible pay that a participant contributes each pay period during the Plan Year. This match formula will also apply to future calendar years unless changed by Starbucks. Matching contributions are made to participating employee accounts each payroll period.” Plan terms may have changed; check your current Summary Plan Description.
When is the Starbucks 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 29 says: “All participant and Company matching contributions are immediately 100% vested.”
Who manages the Starbucks 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Starbucks Corporation.
I left Starbucks. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Starbucks Corporation, (206) 318-4288) or the recordkeeper, Fidelity Investments Institutional. The Starbucks old 401(k) page lists the contacts from every plan filing. Find an old Starbucks 401(k)
Data from the public Form 5500 annual reports Starbucks 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 Starbucks. Not financial advice. Report a correction · Methodology