M&T Bank Corporation 401(k) match: 5% max
M&T Bank Corporation Retirement Savings Plan · MTB · CIK 36270
Maximum employer match, as a share of pay
5%
M&T Bank Corporation matches 100% (dollar-for-dollar) of the first 5% of pay.
From the Form 11-K filed June 26, 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 M&T Bank puts in, and what the plan costs
What M&T Bank put into the plan, per active participant
$6,786
M&T Bank Corporation put $6,786 into this plan for each of its 22,296 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.
M&T Bank put in more per active participant than 77% 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 M&T Bank 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 M&T Bank 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 160538020, plan 004 · DOL EFAST2 ↗
The $6,786 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. M&T Bank Corporation also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $2,475 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 M&T Bank puts in
$2,475
a year, at a $49,500 salary.
The match paragraph, word for word
“Upon completing six months of employment, the Company will make an employer matching contribution in an amount equal to 100% of the participant’s contributions that do not exceed 5% of compensation for the Plan year.”
What you contribute to collect all of it
Contribute at least 5% of your pay to collect the full match.
That is $2,475 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 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: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants’ accounts are at all times fully vested and nonforfeitable, with the exception of DEC and RAA contributions plus earnings thereon. Participants become fully vested in their DEC and RAA contributions after completion of five years of vesting service, death, or when normal retirement age is reached while employed by the Company. Normal retirement age is the later of age 65 and the fifth anniversary of the date the participant began participation in the Plan.”
A worker hired today collects no match for 6 months. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Employees who are at least 21 years of age are immediately eligible to participate in the Plan and make pre-tax or Roth contributions through salary reduction (each a “participant”). A participant may receive matching contributions upon completing six months 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
64th percentile
$70.75 per participant in plan-paid administrative cost, more expensive than 64% of plans with 5,000+ participants.
What is M&T Bank's 401(k) match formula?
M&T Bank's 401(k) employer match tops out at 5% 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 5% of pay |
|---|---|
| Maximum employer match | 5% of compensation |
| Conditions | Matching contributions begin upon completing six months of employment; catch-up contributions are unmatched |
| Other employer contribution | Retirement Accumulation Account (RAA) contribution for participants hired before January 1, 2020: a percentage of compensation based on years of vesting service, requiring 1,000 hours of service and employment on the last day of the plan year (waived on retirement during the year) |
| Other employer contribution | Discretionary Employer Contribution (DEC) for participants hired after December 31, 2019: a uniform percentage of Benefit Compensation, requiring 1,000 hours of service and employment on the last day of the plan year |
At a $75,000 salary, contributing 5% ($3,750) earns the full employer match of $3,750 for the year.
What the filing says, word for word
“Upon completing six months of employment, the Company will make an employer matching contribution in an amount equal to 100% of the participant’s contributions that do not exceed 5% of compensation for the Plan year.”
Source: Form 11-K filed June 26, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is M&T Bank's 401(k) vesting schedule?
M&T Bank 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 |
| Other employer contributions | DEC and RAA contributions vest on a graded schedule: 0% under 2 years, 20% at 2 years, 40% at 3 years, 60% at 4 years, 100% at 5 years of vesting service; full vesting also on death or reaching normal retirement age (later of age 65 and fifth anniversary of participation) while employed |
Vesting, word for word
“Participants’ accounts are at all times fully vested and nonforfeitable, with the exception of DEC and RAA contributions plus earnings thereon. Participants become fully vested in their DEC and RAA contributions after completion of five years of vesting service, death, or when normal retirement age is reached while employed by the Company. Normal retirement age is the later of age 65 and the fifth anniversary of the date the participant began participation in the Plan.”
Source: Form 11-K filed June 26, 2026, SEC EDGAR · SEC ↗
Who can join M&T Bank's 401(k), and is enrollment automatic?
M&T Bank enrolls new hires automatically at 1% of pay, rising 1% a year to 10% of pay.
| Plan entry | Employees at least 21 years of age are immediately eligible to participate and make pre-tax or Roth contributions |
|---|---|
| Match eligibility | Matching contributions after completing six months of service |
| Automatic enrollment | Yes: default deferral 1% of pay; auto-escalation +1%/yr to 10% |
Eligibility, word for word
“Employees who are at least 21 years of age are immediately eligible to participate in the Plan and make pre-tax or Roth contributions through salary reduction (each a “participant”). A participant may receive matching contributions upon completing six months of service.”
Automatic enrollment, word for word
“When an eligible employee first becomes a participant in the Plan, after six months of continuous service, the employee is automatically deemed to enter into a salary reduction agreement providing for pre-tax contributions of 1% of the employee’s compensation, starting on the first administratively practicable pay date. The contribution percentage will automatically increase by 1% on the first pay date in February after employee contributions start, unless the eligible employee elects to opt out of the salary reduction agreement. If the eligible participant has a salary reduction agreement in effect providing for employee pre-tax contributions at a rate less than 10%, the contribution percentage will automatically increase by 1% on the first practicable pay date in February each year, until the rate reaches 10%.”
Source: Form 11-K filed June 26, 2026, SEC EDGAR · SEC ↗
What does the M&T Bank plan report on Form 5500?
The M&T Bank plan reported $5.2B in assets and 32,034 participants for plan year 2024.
| Total plan assets | $5,197,836,402 |
|---|---|
| Participants | 32,034 |
| Recordkeeper | T. Rowe Price |
| Plan-paid admin cost per participant | $70.75 |
How that cost compares
This plan pays $70.75 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 T. Rowe Price as its recordkeeper, one of 801 plans it runs in the data we publish. Of those, the 800 with a computable fee have a median plan-paid cost of $86.70 per participant.
How does M&T Bank's 401(k) match compare?
M&T Bank Corporation's maximum 401(k) match of 5% 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, two report the same recordkeeper and one vests on the same schedule.
Maximum match 5% of pay. Also at banks and lenders.
Maximum match 5% of pay. Also at banks and lenders.
Maximum match 4% of pay. Also at banks and lenders.
Maximum match 5% of pay. Same recordkeeper, T. Rowe Price.
Employer match vests immediately. Same recordkeeper, T. Rowe Price.
Maximum match 4.25% of pay. Vests immediately too, like M&T Bank.
What can you do next?
Check your own balance and contribution rate at T. Rowe Price Workplace ↗, the recordkeeper this plan reports.
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 26, 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 M&T Bank Corporation's 401(k) match?
M&T Bank Corporation matches 100% of employee contributions up to 5% of eligible pay (plan year ended December 31, 2025).
When does the M&T Bank Corporation 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does M&T Bank Corporation's 401(k) plan have automatic enrollment?
Yes: default deferral 1% of pay; auto-escalation +1%/yr to 10%.
Cite: 401(k) Monitor, “M&T Bank Corporation 401(k) plan facts”, from SEC Form 11-K accession 0000036270-26-000043, plan year ended 2025-12-31.