KeyCorp 401(k): Fidelity, match 7% max
KeyCorp 401(k) Savings Plan · KEY · CIK 91576
Fidelity Investments is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
Matched to this employer by sponsor name, not by an identifier stated in the filing.
Maximum employer match, as a share of pay
7%
KeyCorp matches 100% (dollar-for-dollar) of the first 7% 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 · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What KeyCorp puts in, and what the plan costs
What KeyCorp put into the plan, per active participant
$5,822
KeyCorp put $5,822 into this plan for each of its 17,385 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.
KeyCorp put in more per active participant than 65% 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 KeyCorp 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.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
What this figure cannot separate: how much KeyCorp 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 346542451, plan 002 · DOL EFAST2 ↗
The $5,822 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. KeyCorp also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $3,465 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 KeyCorp puts in
$3,465
a year, at a $49,500 salary.
The match paragraph, word for word
“After satisfying the eligibility requirements, Key matches dollar-for-dollar up to 7% of the participant’s contributions to the Plan. Default elective deferrals will be eligible for matching contributions after the Covered Employee satisfies the Eligibility Requirements for receiving a matching contribution.”
What you contribute to collect all of it
Contribute at least 7% of your pay to collect the full match.
That is $3,465 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 369 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: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“All participants are 100% vested in elective deferrals (pre-tax and Roth) and rollover contributions made to the Plan. In years in which the safe harbor provisions of Section 401(k)(12) of the Code are not utilized, participants are 100% vested in Key matching contributions after three years of service. Contributions subject to the safe harbor provisions of Section 401(k)(12) are 100% vested. Participants are 100% vested in Key discretionary contributions after three years of service.”
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
96th percentile
$183.64 per participant in plan-paid administrative cost, more expensive than 96% of plans with 5,000+ participants.
What is KeyCorp's 401(k) match formula?
KeyCorp's 401(k) employer match tops out at 7% 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 7% of pay |
|---|---|
| Maximum employer match | 7% of compensation |
| Paid in company stock | No, paid in cash or per your investment elections |
| Conditions | Match begins after satisfying the eligibility requirements (one year of service for employees commencing employment July 1, 2006 or after); default elective deferrals become eligible for matching once the Covered Employee satisfies those requirements |
| Other employer contribution | Discretionary profit sharing contributions may be made as a flat percentage of eligible compensation for participants employed on the last business day of the Plan year; Key did not make a profit sharing contribution for 2025 or 2024 |
At a $45,000 salary, contributing 7% ($3,150) earns the full employer match of $3,150 for the year.
What the filing says, word for word
“After satisfying the eligibility requirements, Key matches dollar-for-dollar up to 7% of the participant’s contributions to the Plan. Default elective deferrals will be eligible for matching contributions after the Covered Employee satisfies the Eligibility Requirements for receiving a matching contribution.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is KeyCorp's 401(k) vesting schedule?
KeyCorp vests the employer match immediately: 100% is yours as soon as it is paid in. Nothing is forfeited when you leave, which is not true of the two schedules that vest over time.
| Employer match vesting | Immediate: employer match is 100% vested when contributed |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Accelerated vesting | Contributions subject to the safe harbor provisions of Section 401(k)(12) are 100% vested; the Plan utilized safe harbor for the 2025 and 2024 Plan years. In years in which safe harbor is not utilized, matching contributions vest 100% after three years of service |
| Other employer contributions | Key discretionary contributions are 100% vested after three years of service |
Vesting, word for word
“All participants are 100% vested in elective deferrals (pre-tax and Roth) and rollover contributions made to the Plan. In years in which the safe harbor provisions of Section 401(k)(12) of the Code are not utilized, participants are 100% vested in Key matching contributions after three years of service. Contributions subject to the safe harbor provisions of Section 401(k)(12) are 100% vested. Participants are 100% vested in Key discretionary contributions after three years of service.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
Who can join KeyCorp's 401(k), and is enrollment automatic?
KeyCorp enrolls new hires automatically at 2% of pay, rising 1% a year to 10% of pay.
| Plan entry | First day of employment for regular full-time and part-time employees for pre-tax, Roth, Plan transfer, and rollover contributions |
|---|---|
| Match eligibility | One year of service for employees whose employment commencement date is July 1, 2006 or after |
| Excluded groups | Seasonal and on-call employees are required to complete 1,000 hours of service prior to becoming eligible to participate |
| Automatic enrollment | Yes: default deferral 2% of pay; 90-day opt-out window; auto-escalation +1%/yr to 10% |
Eligibility, word for word
“All regular full-time and part-time employees of KeyCorp and its participating subsidiaries (Employer or Key) are eligible to participate in the Plan as of their first day of employment with the Employer for purposes of making pre-tax contributions, Roth contributions, Plan transfer contributions, and rollover contributions. Employees are eligible to participate in receiving employer contributions and profit sharing contributions in accordance with the following eligibility requirements: for employees whose employment commencement date is July 1, 2006, or after, participants can receive these contributions after completing one year of service. Seasonal and on-call employees are required to complete 1,000 hours of service prior to becoming eligible to participate in the Plan.”
Automatic enrollment, word for word
“Commencing January 1, 2010, an automatic enrollment feature was added to the Plan for all new regular full-time and part-time employees of the Employer (Covered Employees). The Plan was amended such that the initial default contribution percentage for Covered Employees is 2% and will increase by 1% at the beginning of each Plan year until the default percentage is 10% for Plan years on and after January 1, 2012.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Fidelity Investments, filed as “FIDELITY INVESTMENTS INSTITUTIONAL”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
10,593 plans on file name Fidelity Investments as their recordkeeper. Of those, the 10,022 with a computable fee have a median plan-paid cost of $97.71 per participant.
Participants log in at Fidelity NetBenefits ↗. 401(k) Monitor is not affiliated with Fidelity Investments or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Fidelity Investments |
|---|---|
| Recordkeeper EIN | 042647786 |
What does the KeyCorp plan report on Form 5500?
The KeyCorp plan reported $4.1B in assets and 28,380 participants for plan year 2024.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
| Plan named in the DOL record | Keycorp 401(k) Savings Plan |
|---|---|
| Total plan assets | $4,130,143,138 |
| Participants | 28,380 |
| Plan-paid admin cost per participant | $183.64 |
How that cost compares
This plan pays $183.64 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.
Keycorp 401(k) Savings Plan on its Form 5500 filing: fees, providers and financials
How does KeyCorp's 401(k) match compare?
KeyCorp's maximum 401(k) match of 7% of pay compares with a median of 4% across the 269 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file at banks and lenders, two report the same recordkeeper and one vests on the same schedule.
Maximum match 7% of pay. Also at banks and lenders.
No employer match in the filing. Also at banks and lenders.
Maximum match 6.36% of pay. Also at banks and lenders.
Maximum match 7% of pay. Same recordkeeper, Fidelity Investments.
Maximum match 7.02% of pay. Same recordkeeper, Fidelity Investments.
Maximum match 4% of pay. Vests immediately too, like KeyCorp.
What can you do next?
- 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.
Questions this filing answers
What is KeyCorp's 401(k) match?
KeyCorp matches 100% of employee contributions up to 7% of eligible pay (plan year ended December 31, 2025).
When does the KeyCorp 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does KeyCorp's 401(k) plan have automatic enrollment?
Yes: default deferral 2% of pay; 90-day opt-out window; auto-escalation +1%/yr to 10%.
Who is the recordkeeper for KeyCorp's 401(k)?
Fidelity Investments is named as the recordkeeper on the Form 5500 filed for Keycorp 401(k) Savings Plan for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that KeyCorp filed with the US Securities and Exchange Commission for the plan year ended December 31, 2025. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | KeyCorp |
| SEC CIK | 91576 |
| Accession number | 0001628280-26-045531 |
| Plan | KeyCorp 401(k) Savings Plan |
| Period of report | December 31, 2025 |
| Filed | June 25, 2026 |
401(k) Monitor is not affiliated with KeyCorp, with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “KeyCorp 401(k) plan facts”, from SEC Form 11-K accession 0001628280-26-045531, plan year ended December 31, 2025.
