Phillips 66 401(k) match: 8% max
Phillips 66 Savings Plan · PSX · CIK 1534701
Maximum employer match, as a share of pay
8%
Phillips 66 matches 100% (dollar-for-dollar) of the first 8% of pay.
From the Form 11-K filed June 22, 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 Phillips 66 puts in, and what the plan costs
What Phillips 66 put into the plan, per active participant
$12,756
Phillips 66 put $12,756 into this plan for each of its 12,051 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.
Phillips 66 put in more per active participant than 87% of plans with 5,000+ participants in oil, gas and mining. The middle plan in that group of 31 reported $7,448. Oil, gas and mining comes from business code 324110, which Phillips 66 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 Phillips 66 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 371652702, plan 002 · DOL EFAST2 ↗
The $12,756 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. Phillips 66 also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $3,960 a year at a $49,500 salary. 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 Phillips 66 puts in
$3,960
a year, at a $49,500 salary.
The match paragraph, word for word
“The Company matches one dollar for each dollar contributed by an active participant up to 8% of Pay. In 2025, the Company made matching contributions to the Thrift of $150 million.”
What you contribute to collect all of it
Contribute at least 8% of your pay to collect the full match.
That is $3,960 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 are immediately vested in employee contributions and Company contributions. Company retirement contributions held in an employer contribution account that transferred from the DCP Plan are subject to a 5-year graded vesting requirement.”
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
97th percentile
$197.79 per participant in plan-paid administrative cost, more expensive than 97% of plans with 5,000+ participants.
What is Phillips 66's 401(k) match formula?
Phillips 66's 401(k) employer match tops out at 8% 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 8% of pay |
|---|---|
| Maximum employer match | 8% of compensation |
| Conditions | Match is made for active participants |
At a $60,000 salary, contributing 8% ($4,800) earns the full employer match of $4,800 for the year.
What the filing says, word for word
“The Company matches one dollar for each dollar contributed by an active participant up to 8% of Pay. In 2025, the Company made matching contributions to the Thrift of $150 million.”
Source: Form 11-K filed June 22, 2026, SEC EDGAR · SEC ↗
What is Phillips 66's 401(k) vesting schedule?
Phillips 66 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 | In the event of termination of the Plan, participants would be vested with respect to any funds in their accounts as of the date of the termination |
| Other employer contributions | Company retirement contributions held in an employer contribution account that transferred from the DCP Plan are subject to a 5-year graded vesting requirement |
Vesting, word for word
“Participants are immediately vested in employee contributions and Company contributions. Company retirement contributions held in an employer contribution account that transferred from the DCP Plan are subject to a 5-year graded vesting requirement.”
Source: Form 11-K filed June 22, 2026, SEC EDGAR · SEC ↗
Who can join Phillips 66's 401(k), and is enrollment automatic?
Phillips 66 enrolls new hires automatically at 8% of pay, rising 1% a year to 10% of pay.
| Plan entry | Generally, active employees of the Company and related entities on the direct U.S. dollar payroll are eligible to participate |
|---|---|
| Excluded groups | Union employees whose collective bargaining agreement does not provide for participation in the Plan are not eligible |
| Automatic enrollment | Yes: default deferral 8% of pay; auto-escalation +1%/yr to 10%; default investment: Vanguard Target Retirement Trust with a target date closest to the participant's 65th birthday |
Eligibility, word for word
“Generally, active employees of the Company and related entities on the direct U.S. dollar payroll are eligible to participate in the Plan. Union employees whose collective bargaining agreement does not provide for participation in the Plan are not eligible.”
Automatic enrollment, word for word
“The Plan has an automatic enrollment feature for new employees with the initial contribution rate set at 8% of Pay, contributed on a before-tax basis. Participants can change the contribution rate and type of contribution at any time and can also elect not to contribute to the Plan. A participant’s rate has an automatic annual increase election of 1% in July of each year following the year participation in the Plan begins until it reaches 10%.”
Source: Form 11-K filed June 22, 2026, SEC EDGAR · SEC ↗
What does the Phillips 66 plan report on Form 5500?
The Phillips 66 plan reported $7.7B in assets and 18,405 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 | Phillips 66 Savings Plan |
|---|---|
| Total plan assets | $7,674,758,862 |
| Participants | 18,405 |
| Recordkeeper | Vanguard |
| Plan-paid admin cost per participant | $197.79 |
How that cost compares
This plan pays $197.79 per participant. The median across plans in oil, gas and mining is $124.28, from the 618 of 653 whose Form 5500 yields a per-participant cost.
The plan reports Vanguard as its recordkeeper, one of 2,337 plans it runs in the data we publish. Of those, the 2,333 with a computable fee have a median plan-paid cost of $97.87 per participant.
Phillips 66 Savings Plan on its Form 5500 filing: fees, providers and financials
How does Phillips 66's 401(k) match compare?
Phillips 66's maximum 401(k) match of 8% 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 in oil, gas and mining, two report the same recordkeeper and one vests on the same schedule.
Maximum match 8% of pay. Also in oil, gas and mining.
Maximum match 7.98% of pay. Also in oil, gas and mining.
Maximum match 7.02% of pay. Also in oil, gas and mining.
Maximum match 6% of pay. Same recordkeeper, Vanguard.
Employer match vests immediately. Same recordkeeper, Vanguard.
Maximum match 6% of pay. Vests immediately too, like Phillips 66.
What can you do next?
Check your own balance and contribution rate at Vanguard ↗, the recordkeeper this plan reports.
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 22, 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 Phillips 66's 401(k) match?
Phillips 66 matches 100% of employee contributions up to 8% of eligible pay (plan year ended December 31, 2025).
When does the Phillips 66 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does Phillips 66's 401(k) plan have automatic enrollment?
Yes: default deferral 8% of pay; auto-escalation +1%/yr to 10%; default investment: Vanguard Target Retirement Trust with a target date closest to the participant's 65th birthday.
Cite: 401(k) Monitor, “Phillips 66 401(k) plan facts”, from SEC Form 11-K accession 0001534701-26-000025, plan year ended 2025-12-31.