FIRST HORIZON CORP 401(k) match: 6% max
First Horizon Corporation Savings Plan · FHN · CIK 36966
Maximum employer match, as a share of pay
6%
FIRST HORIZON CORP matches 100% (dollar-for-dollar) of the first 6% of pay.
From the Form 11-K filed June 25, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · what the plan reports to the DOL · how it compares · what to do next
What FIRST HORIZON puts in, and what the plan costs
What FIRST HORIZON put into the plan, per active participant
$4,881
FIRST HORIZON CORP put $4,881 into this plan for each of its 7,406 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
FIRST HORIZON put in more per active participant than 51% of plans with 5,000+ participants at banks and lenders. The middle plan in that group of 66 reported $4,881. Banks and lenders comes from business code 522110, which FIRST HORIZON entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much FIRST HORIZON pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 620803242, plan 002 · DOL EFAST2 ↗
The $4,881 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. FIRST HORIZON CORP also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $2,970 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What FIRST HORIZON puts in
$2,970
a year, at a $49,500 salary.
The match paragraph, word for word
“All participants receive 100% matching of the first 1% to 6% of participant pre-tax, catch-up, and Roth 401(k) contributions.”
What you contribute to collect all of it
Contribute at least 6% of your pay to collect the full match.
That is $2,970 a year at a $49,500 salary, and it scales with your own.
Vesting score
57.14 out of 100
How fast the employer’s money becomes yours. Higher than 4% of the 253 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 0%, 0%, 0%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are vested immediately in their personal contributions, plus actual earnings thereon. Company matching contributions are subject to a three-year cliff vesting schedule. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested.”
A worker hired today collects no match for 1 year. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
88th percentile
$113.19 per participant in plan-paid administrative cost, more expensive than 88% of plans with 5,000+ participants.
What is FIRST HORIZON's 401(k) match formula?
FIRST HORIZON's 401(k) employer match tops out at 6% of pay. One rate up to one limit is the commonest of the four shapes a match formula takes.
| Match formula | 100% (dollar-for-dollar) of the first 6% of pay |
|---|---|
| Maximum employer match | 6% of compensation |
| Other employer contribution | Company savings contributions - The Company provides Flexible Dollars to employees to spend on benefits or to deposit into the Plan. Participants’ Flexible Dollars deposited into the Plan are identified as Company savings contributions and are not eligible for matching contributions. These contributions are 100% vested at all times. |
| Other employer contribution | Employer Non-Elective Contributions (“ENECs”) - The Company may also make ENECs for employees not participating in the Management Bonus program provided by the Company. ENECs, which are based upon the Company’s performance from the previous year, are determined annually as a percentage of an eligible participant’s eligible earnings. These contributions are subject to a two-year cliff vesting schedule at which point they become 100% vested. |
At a $75,000 salary, contributing 6% ($4,500) earns the full employer match of $4,500 for the year.
What the filing says, word for word
“All participants receive 100% matching of the first 1% to 6% of participant pre-tax, catch-up, and Roth 401(k) contributions.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is FIRST HORIZON's 401(k) vesting schedule?
FIRST HORIZON vests the employer match on a cliff schedule: nothing is yours until three years of service, then 100% at once. Leave a day early and the employer money goes back to the plan, the edge a three-year cliff creates.
| Employer match vesting | Cliff: 100% vested after 3 years of service |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Accelerated vesting | in the event of termination, the Plan provides that all affected participants’ interests will become fully vested and nonforfeitable |
| Other employer contributions | Company savings contributions are 100% vested at all times. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested. |
Vesting, word for word
“Participants are vested immediately in their personal contributions, plus actual earnings thereon. Company matching contributions are subject to a three-year cliff vesting schedule. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
Who can join FIRST HORIZON's 401(k), and is enrollment automatic?
FIRST HORIZON enrolls new hires automatically at 3% of pay.
| Plan entry | Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more. |
|---|---|
| Match eligibility | Company matching contributions - After 1 year of service all participants are eligible for matching contributions. |
| Automatic enrollment | Yes: default deferral 3% of pay |
Eligibility, word for word
“Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more.”
Automatic enrollment, word for word
“Automatic savings plan enrollment deferrals for new hires, rehires, and newly eligible enrollees is 3% of eligible pay.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
What does the FIRST HORIZON plan report on Form 5500?
The FIRST HORIZON plan reported $1.1B in assets and 10,003 participants for plan year 2024.
| Total plan assets | $1,118,003,700 |
|---|---|
| Participants | 10,003 |
| Recordkeeper | Transamerica |
| Plan-paid admin cost per participant | $113.19 |
How that cost compares
This plan pays $113.19 per participant. The median across plans at banks and lenders is $152.83, from the 2,143 of 2,264 whose Form 5500 yields a per-participant cost.
The plan reports Transamerica as its recordkeeper, one of 1,701 plans it runs in the data we publish. Of those, the 1,695 with a computable fee have a median plan-paid cost of $149.29 per participant.
First Horizon Corporation Savings Plan on its Form 5500 filing: fees, providers and financials
How does FIRST HORIZON's 401(k) match compare?
FIRST HORIZON CORP's maximum 401(k) match of 6% of pay compares with a median of 4.5% across the 181 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file at banks and lenders, one reports the same recordkeeper, one lands near FIRST HORIZON's maximum match and one vests on the same schedule.
Maximum match 6% of pay. Also at banks and lenders.
Maximum match 6% of pay. Also at banks and lenders.
Maximum match 5% of pay. Also at banks and lenders.
Maximum match 4% of pay. Same recordkeeper, Transamerica.
Maximum match 6% of pay, level with FIRST HORIZON.
Maximum match 7% of pay. Same 3-year cliff as FIRST HORIZON.
What can you do next?
Check your own balance and contribution rate at Transamerica ↗, the recordkeeper this plan reports.
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 25, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
- Download this data (CSV)
Formula, vesting and source references for this company, one file.
Questions this filing answers
What is FIRST HORIZON CORP's 401(k) match?
First Horizon Corp matches 100% of employee contributions up to 6% of eligible pay (plan year ended December 31, 2025).
When does the FIRST HORIZON CORP 401(k) match vest?
Cliff: 100% vested after 3 years of service.
Does FIRST HORIZON CORP's 401(k) plan have automatic enrollment?
Yes: default deferral 3% of pay.
Cite: 401(k) Monitor, “FIRST HORIZON CORP 401(k) plan facts”, from SEC Form 11-K accession 0000036966-26-000135, plan year ended 2025-12-31.