Stefanini 401(k) match, vesting and fees
What Stefanini's 401(k) plan says about matching contributions
The Company may contribute a discretionary percentage, as determined annually, to the Plan each year. For the year ended December 31, 2024, the Company made matching contributions equal to 25% of participant deferrals up to 8% of eligible compensation. Catch-up contributions are excluded from the Company matching contributions.
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 | Participants are vested immediately in their contributions plus actual earnings thereon. The Plan provides that participants have no vested interest in the Company contributions until they have completed two years of service, at which time they become 100% vested. An employee is considered to have completed one (1) year of service for purposes of vesting upon the completion of 1,000 hours of service at any time during a plan year. | Audit report, p. 30 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all new 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 3% of eligible compensation and their contributions invested in a designated fund until changed by the participant. The automatic enrollment percentage is increased each January 1 by 1% up to a maximum of 8% of eligible compensation. | Audit report, p. 30 ↗ |
| Roth contributions | Participants may contribute up to 75% of annual eligible compensation, as defined in the Plan and designate those contributions as either pre-tax or Roth. | Audit report, p. 30 ↗ |
| 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 the vested balance in the participant’s account. The loans are secured by the vested balance in the participant’s account and bear interest at the prime rate plus 1% (the prime rate was 7.5% at December 31, 2024). The term of such loans may not exceed five years except in the case of a loan for the purchase of a principal residence which may not exceed fifteen years. Participants may have a maximum of one loan outstanding at a time. | Audit report, p. 31 ↗ |
| Recordkeeper | Transamerica Retirement Solutions | Schedule C ↗ |
| Independent auditor | Uhy 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 1,087 defined-contribution plans in professional, scientific, and technical services with 1,000 to 4,999 participants.
| Stefanini: employer contribution per participant | $647 | |
| Peer median | $2,556 |
| Stefanini: average balance | $47,890 | |
| Peer median | $100,166 |
| Stefanini: admin expenses ÷ assets | 0.20% | |
| Peer median | 0.11% |
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 $61.6M at the end of plan year 2021 to $69.7M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,505 | $69.7M | $941K | $647 | 0.20% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 1,710 | $61.1M | $973K | $600 | 0.20% | Not published | Form 5500 ↗ |
| 2022 | 1,731 | $51.5M | $805K | $493 | 0.14% | Not published | Form 5500 ↗ |
| 2021 | 1,746 | $61.6M | $553K | $317 | 0.32% | Not published | Form 5500 ↗ |
Common questions
Does Stefanini match 401(k) contributions?
The audit report attached to the Stefanini Retirement Savings Plan's plan year 2024 Form 5500, page 30 says: “The Company may contribute a discretionary percentage, as determined annually, to the Plan each year. For the year ended December 31, 2024, the Company made matching contributions equal to 25% of participant deferrals up to 8% of eligible compensation. Catch-up contributions are excluded from the Company matching contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the Stefanini 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Participants are vested immediately in their contributions plus actual earnings thereon. The Plan provides that participants have no vested interest in the Company contributions until they have completed two years of service, at which time they become 100% vested. An employee is considered to have completed one (1) year of service for purposes of vesting upon the completion of 1,000 hours of service at any time during a plan year.”
Who manages the Stefanini 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Transamerica Retirement Solutions. The plan administrator is Stefanini.
I left Stefanini. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Stefanini, (248) 263-3643) or the recordkeeper, Transamerica Retirement Solutions. The Stefanini old 401(k) page lists the contacts from every plan filing. Find an old Stefanini 401(k)
Data from the public Form 5500 annual reports Stefanini 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 Stefanini. Not financial advice. Report a correction · Methodology