Waste Management 401(k) match, vesting and fees
What Waste Management's 401(k) plan says about matching contributions
With respect to each participant whose employment is not governed by a collective bargaining agreement, Waste Management matches 100% of each participant’s Employee Contribution up to 3% of the participant’s eligible annual compensation, as defined by the Plan, plus 50% of the participant’s Employee Contribution on the next 3% of the participant’s eligible annual compensation.
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. 28 ↗ |
| Match vesting | Participants are immediately vested in their Employee Contributions, Rollover Contributions and Employer Contributions, plus earnings thereon. | Audit report, p. 29 ↗ |
| Automatic enrollment | With respect to each participant whose employment is not governed by a collective bargaining agreement, Waste Management matches 100% of each participant’s Employee Contribution up to 3% of the participant’s eligible annual compensation, as defined by the Plan, plus 50% of the participant’s Employee Contribution on the next 3% of the participant’s eligible annual compensation. Any such employee is automatically enrolled in the Plan at a contribution rate of 3% of eligible compensation, unless changed by the employee. | Audit report, p. 28 ↗ |
| Loans | If a participant ceases to make loan repayments and the Plan administrator deems the participant loan to be a distribution, the participant loan balance is reduced and a benefit payment is recorded. Participants who are active employees may obtain loans of not less than $1,000 and a maximum of 50% of a participant’s vested accounts (excluding any amounts invested in the self-directed brokerage account) immediately preceding the loan grant date. In no event shall a loan exceed $50,000, reduced by the greater of (a) the highest outstanding balance of loans during the one-year period ending on the date before a new loan is made or modified or (b) the outstanding balance of loans on the date a new loan is made or modified. Not more than one loan shall be outstanding at any time, except for multiple loans which (a) result from a merger of another plan into this Plan or (b) result from a participant’s defaulting on a loan. Interest rates and repayment terms are established by the Administrative Committee. Such loans shall be repaid by payroll deduction or any other method approved by the Administrative Committee. The Administrative Committee requires that: (a) no more than one loan per year be taken by a participant; (b) repayments be made no less frequently than quarterly; (c) loans be repaid over a period not to exceed 54 months and (d) repayments, including interest, be made in equal periodic payments over the term of the loan and applied to principal using a level amortization over the repayment period. | Audit report, p. 30 ↗ |
| Recordkeeper | Merrill Lynch,pierce,fenner & Smith | Schedule C ↗ |
| Independent auditor | Weaver and Tidwell, LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 32 defined-contribution plans in administrative, support and waste management services with 10,000 to 49,999 participants.
| Waste Management: employer contribution per participant | $2,699 | |
| Peer median | $1,628 |
| Waste Management: average balance | $91,589 | |
| Peer median | $40,496 |
| Waste Management: admin expenses ÷ assets | 0.04% | |
| Peer median | 0.23% |
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 $3.7B at the end of plan year 2023 to $4.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 47,129 | $4.1B | $120M | $2,699 | 0.04% | Quoted in the audit report, p. 28 ↗ | Form 5500 ↗ |
| 2023 | 47,426 | $3.7B | $118M | $2,639 | 0.05% | Not published | Form 5500 ↗ |
Common questions
Does Waste Management match 401(k) contributions?
The audit report attached to the Waste Management Retirement Savings Plan's plan year 2024 Form 5500, page 28 says: “With respect to each participant whose employment is not governed by a collective bargaining agreement, Waste Management matches 100% of each participant’s Employee Contribution up to 3% of the participant’s eligible annual compensation, as defined by the Plan, plus 50% of the participant’s Employee Contribution on the next 3% of the participant’s eligible annual compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Waste Management 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Participants are immediately vested in their Employee Contributions, Rollover Contributions and Employer Contributions, plus earnings thereon.”
Who manages the Waste Management 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Merrill Lynch,pierce,fenner & Smith. The plan administrator is Administrative Committee of Waste Management Employee Benefit Plans.
I left Waste Management. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Administrative Committee of Waste Management Employee Benefit Plans, (713) 512-6200) or the recordkeeper, Merrill Lynch,pierce,fenner & Smith. The Waste Management old 401(k) page lists the contacts from every plan filing. Find an old Waste Management 401(k)
Data from the public Form 5500 annual reports Waste Management 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 Waste Management. Not financial advice. Report a correction · Methodology