Prudential Insurance Company of America 401(k) match, vesting and fees
What Prudential Insurance Company of America's 401(k) plan says about matching contributions
Employer contributions: The Company matches 100% of before-tax and Roth 401(k) contributions up to a maximum of 4% of eligible earnings. Effective January 1, 2024, employees of Assurance IQ, LLC ("Assurance") became eligible for matching contributions on 50% of their before-tax and Roth 401(k) contributions up to a maximum of 4% of eligible earnings. Matching contributions are made subject to an employee's satisfaction of applicable eligibility requirements. In connection with the complete discontinuance of Assurance's operations in 2024, the Company amended the Plan to provide for the full vesting of all matching contributions made on behalf of eligible Assurance employees in 2024. In addition to matching contributions, the Company may, in its sole discretion, make discretionary contributions in a given plan year to eligible participants.
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. 36 ↗ |
| Match vesting | Participants are vested immediately in their before-tax, Roth 401(k), after-tax, and rollover contributions plus earnings thereon. Generally, participants become 100% vested in employer matching contributions upon the completion of three years of vesting service. Vesting will be accelerated, and participants will be 100% vested in the employer’s matching contribution and earnings thereon upon reaching age 65, or as a result of death, or becoming totally disabled while an employee. | Audit report, p. 37 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly 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 4% of eligible compensation, which is characterized as Roth 401(k) and invested in a designated qualified default investment alternative fund until changed by the participant. | Audit report, p. 36 ↗ |
| Roth contributions | Employee contributions: Each year, participants may contribute from 1% to 50% of eligible earnings, as defined in the Plan, in any combination of before-tax, Roth 401(k) (after-tax contributions), and/or traditional after-tax contributions. | Audit report, p. 36 ↗ |
| Loans | Participants may borrow from their Before-Tax Contributions Account and Rollover Contributions Account a minimum of $500 up to a maximum equal to the lesser of $50,000 (reduced by the participant’s highest outstanding loan balance during the preceding twelve months in the Plan), 50% of their entire vested Plan account balance, or 100% of the value of the sum of the balance of the participant's Before-Tax Contribution Account and Rollover Contributions Account. The loans are secured by the balance in the participant's account. The loan repayment period may range from one to five years and only one loan is permitted to be outstanding at any time. The loan interest rate, determined quarterly, is set at the prime rate, as defined. Repayments of principal and interest related to the loan are credited to the participant’s account on a prorata basis based on their selected investment options. Special grandfathering rules apply to outstanding loans held by former participants in the Assurance Savings Plan that were transferred to the Plan as part of the plan merger. | Audit report, p. 37 ↗ |
| Independent auditor | Mitchell & Titus (unmodified opinion) | 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 104 defined-contribution plans in finance and insurance with 10,000 to 49,999 participants.
| Prudential Insurance Company of America: employer contribution per participant | $2,277 | |
| Peer median | $3,632 |
| Prudential Insurance Company of America: average balance | $286,872 | |
| Peer median | $158,797 |
| Prudential Insurance Company of America: admin expenses ÷ assets | 0.00% | |
| Peer median | 0.04% |
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 $10.4B at the end of plan year 2023 to $10.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 38,003 | $10.7B | $85.2M | $2,277 | 0.00% | Quoted in the audit report, p. 36 ↗ | Form 5500 ↗ |
| 2023 | 43,542 | $10.4B | $83.8M | $1,926 | <0.01% | Not published | Form 5500 ↗ |
Other Prudential Insurance Company of America plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
The Prudential Merged Retirement 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.
| Recordkeeper | Alight Solutions LLC | Schedule C ↗ |
| Independent auditor | Mitchell & Titus (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Prudential Insurance Company of America match 401(k) contributions?
The audit report attached to the The Prudential Employee Savings Plan's plan year 2024 Form 5500, page 36 says: “Employer contributions: The Company matches 100% of before-tax and Roth 401(k) contributions up to a maximum of 4% of eligible earnings. Effective January 1, 2024, employees of Assurance IQ, LLC ("Assurance") became eligible for matching contributions on 50% of their before-tax and Roth 401(k) contributions up to a maximum of 4% of eligible earnings. Matching contributions are made subject to an employee's satisfaction of applicable eligibility requirements. In connection with the complete discontinuance of Assurance's operations in 2024, the Company amended the Plan to provide for the full vesting of all matching contributions made on behalf of eligible Assurance employees in 2024. In addition to matching contributions, the Company may, in its sole discretion, make discretionary contributions in a given plan year to eligible participants.” Plan terms may have changed; check your current Summary Plan Description.
When is the Prudential Insurance Company of America 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 37 says: “Participants are vested immediately in their before-tax, Roth 401(k), after-tax, and rollover contributions plus earnings thereon. Generally, participants become 100% vested in employer matching contributions upon the completion of three years of vesting service. Vesting will be accelerated, and participants will be 100% vested in the employer’s matching contribution and earnings thereon upon reaching age 65, or as a result of death, or becoming totally disabled while an employee.”
Who manages the Prudential Insurance Company of America 401(k)?
The filing names Prudential Administrative Committee as plan administrator; it does not list a recordkeeper.
I left Prudential Insurance Company of America. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Prudential Administrative Committee, (973) 802-8664). The Prudential Insurance Company of America old 401(k) page lists the contacts from every plan filing. Find an old Prudential Insurance Company of America 401(k)
Data from the public Form 5500 annual reports Prudential Insurance Company of America 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 Prudential Insurance Company of America. Not financial advice. Report a correction · Methodology