Tyson Foods 401(k) match, vesting and fees
What Tyson Foods' 401(k) plan says about matching contributions
The Plan, as amended effective January 1, 1997, allows 100% Sponsor matching contributions on participant deferrals up to 3% of compensation, including annual bonuses and 50% for participant deferrals in excess of 3% but not more than 5% of compensation, including annual bonuses, except for certain groups as noted in the Plan document. The Plan provides matching contributions only to employees who have completed one year of service.
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. 33 ↗ |
| Match vesting | Plan participants are fully vested at all times with regard to their salary deferral and employer matching contributions, except as noted in the Plan document. | Audit report, p. 33 ↗ |
| Roth contributions | Effective January 1, 2021, the Plan also allows Roth elective deferrals, wherein participants can designate a portion of their elective deferral contributions as after-tax Roth elective deferral contributions. | Audit report, p. 33 ↗ |
| Loans | Participants may obtain loans from their individual accounts in amounts not to exceed the lesser of 50% of their vested account balance or $50,000. Loans are secured by the balance in the participant's account and bear interest at a fixed rate based upon New York prime plus 1% at the time the loan is made. The maximum maturity of a loan is sixty (60) months. Principal and interest are paid ratably through weekly, bi-weekly, or monthly payroll deductions. Participants are charged a one-time fee of $35 per loan. Terms for loans initiated under merged plans may differ and generally carry over through the maturity of those loans. | Audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Mcconnel & Jones 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 37 defined-contribution plans with 50,000 or more participants.
| Tyson Foods: employer contribution per participant | $1,819 | |
| Peer median | $2,100 |
| Tyson Foods: average balance | $58,887 | |
| Peer median | $77,284 |
| Tyson Foods: admin expenses ÷ assets | 0.14% | |
| Peer median | 0.05% |
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 $3.5B at the end of plan year 2023 to $3.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 128,426 | $3.7B | $115M | $1,819 | 0.14% | Quoted in the audit report, p. 33 ↗ | Form 5500 ↗ |
| 2023 | 131,960 | $3.5B | $112M | $1,667 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Tyson Foods match 401(k) contributions?
The audit report attached to the Tyson Foods, Inc. Retirement Savings Plan's plan year 2024 Form 5500, page 33 says: “The Plan, as amended effective January 1, 1997, allows 100% Sponsor matching contributions on participant deferrals up to 3% of compensation, including annual bonuses and 50% for participant deferrals in excess of 3% but not more than 5% of compensation, including annual bonuses, except for certain groups as noted in the Plan document. The Plan provides matching contributions only to employees who have completed one year of service.” Plan terms may have changed; check your current Summary Plan Description.
When is the Tyson Foods 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Plan participants are fully vested at all times with regard to their salary deferral and employer matching contributions, except as noted in the Plan document.”
Who manages the Tyson Foods 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Tyson Foods, Inc..
I left Tyson Foods. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Tyson Foods, Inc., (479) 290-5000) or the recordkeeper, Fidelity Investments Institutional. The Tyson Foods old 401(k) page lists the contacts from every plan filing. Find an old Tyson Foods 401(k)
Data from the public Form 5500 annual reports Tyson Foods 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 Tyson Foods. Not financial advice. Report a correction · Methodology