Valero Energy 401(k) match, vesting and fees
What Valero Energy's 401(k) plan says about matching contributions
Valero makes an employer contribution equal to $1.00 for every $1.00 of a participant’s contributions up to 7 percent of annual total salary.
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 100 percent in their individual participant contribution accounts at all times. Participants who are active employees and are not renewables organization employees are 100 percent vested in their employer matching contribution accounts at all times. Renewables organization employees vest in their employer matching contribution accounts at the rate of 20 percent per year and are 100 percent vested after five years of continuous service. Eligible renewables organization employees vest 100 percent in any discretionary employer contributions after completion of three years of service. | Audit report, p. 31 ↗ |
| Automatic enrollment | Eligible employees are automatically enrolled in the Plan at a pre-tax contribution rate of 7 percent of their annual total salary, unless the eligible employee elects not to participate in the Plan. The automatically enrolled participant’s contribution rate will increase by 1 percent per year until a maximum contribution rate of 10 percent is reached, unless the participant elects to opt out of the automatic increases or voluntarily changes their contribution rate. | Audit report, p. 30 ↗ |
| Roth contributions | Participants elect to make pre-tax, after-tax, and/or designated Roth 401(k) contributions to the Plan. Any employee may make eligible rollover contributions and eligible Roth 401(k) rollover contributions to the Plan. Participants may recharacterize amounts from their vested account to an in-plan Roth rollover account. | Audit report, p. 30 ↗ |
| Independent auditor | KPMG LLP (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 283 defined-contribution plans in manufacturing with 5,000 to 9,999 participants.
| Valero Energy: employer contribution per participant | $7,479 | |
| Peer median | $2,895 |
| Valero Energy: average balance | $346,744 | |
| Peer median | $115,263 |
| Valero Energy: admin expenses ÷ assets | 0.00% | |
| Peer median | 0.08% |
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 $3.1B at the end of plan year 2023 to $3.4B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 9,867 | $3.4B | $73M | $7,479 | 0.00% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 10,238 | $3.1B | $70M | $7,167 | 0.00% | Not published | Form 5500 ↗ |
Other Valero Energy plans (4)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Premcor Retirement Savings 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.
| Independent auditor | KPMG LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Valero Energy Corporation Pension 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 | Victory Capital Management | Schedule C ↗ |
| Independent auditor | KPMG, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Premcor Pension Plan for Certain Union Employees
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.
| Independent auditor | KPMG, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Premcor Pension 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.
| Independent auditor | KPMG, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Valero Energy match 401(k) contributions?
The audit report attached to the Valero Energy Corporation Thrift Plan's plan year 2024 Form 5500, page 30 says: “Valero makes an employer contribution equal to $1.00 for every $1.00 of a participant’s contributions up to 7 percent of annual total salary.” Plan terms may have changed; check your current Summary Plan Description.
When is the Valero Energy 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are vested 100 percent in their individual participant contribution accounts at all times. Participants who are active employees and are not renewables organization employees are 100 percent vested in their employer matching contribution accounts at all times. Renewables organization employees vest in their employer matching contribution accounts at the rate of 20 percent per year and are 100 percent vested after five years of continuous service. Eligible renewables organization employees vest 100 percent in any discretionary employer contributions after completion of three years of service.”
Who manages the Valero Energy 401(k)?
The filing names Valero Energy Corporation as plan administrator; it does not list a recordkeeper.
I left Valero Energy. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Valero Energy Corporation, (210) 345-2000). The Valero Energy old 401(k) page lists the contacts from every plan filing. Find an old Valero Energy 401(k)
Data from the public Form 5500 annual reports Valero Energy 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 Valero Energy. Not financial advice. Report a correction · Methodology