The Progressive Corporation 401(k): Fidelity, match 6% max
The Progressive 401(k) Plan · PGR · CIK 80661
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.
Maximum employer match, as a share of pay
6%
The Progressive Corporation matches 100% (dollar-for-dollar) of the first 6% of pay.
Progressive filed two Form 11-K reports for plan year 2025, of which one has been read. The other report has not, so this page cannot say what the plan it covers pays.
From the Form 11-K filed May 12, 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 Progressive puts in, and what the plan costs
What Progressive put into the plan, per active participant
$3,456
The Progressive Corporation put $3,456 into this plan for each of its 67,357 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.
Progressive put in less per active participant than 73% of plans with 5,000+ participants in insurance. The middle plan in that group of 98 reported $5,049. Insurance comes from business code 524290, which Progressive 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 Progressive 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 340963169, plan 003 · DOL EFAST2 ↗
The $3,456 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. The Progressive Corporation 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. 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 Progressive puts in
$2,970
a year, at a $49,500 salary.
The match paragraph, word for word
“Participant contributions are matched 100% by the Company dollar-for-dollar up to 6% of participants' eligible compensation.”
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
71.43 out of 100
How fast the employer’s money becomes yours. Higher than 32% 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: 0%, 0%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“The portion of the participant's account in the Plan attributable to the participant's own contributions, including earnings thereon, vests immediately. Company matching contributions made on or after January 1, 2009, and before January 1, 2021, vested immediately. Company matching contributions made on or after January 1, 2021, will vest according to a two-year cliff vesting schedule.”
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
6th percentile
$9.09 per participant in plan-paid administrative cost, cheaper than 94% of plans with 5,000+ participants.
What is Progressive's 401(k) match formula?
Progressive's 401(k) employer match tops out at 6% of pay. The match is deposited each payroll. 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 |
| Deposited | Each payroll |
At a $60,000 salary, contributing 6% ($3,600) earns the full employer match of $3,600 for the year.
What the filing says, word for word
“Participant contributions are matched 100% by the Company dollar-for-dollar up to 6% of participants' eligible compensation.”
Source: Form 11-K filed May 12, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is Progressive's 401(k) vesting schedule?
Progressive vests the employer match on a cliff schedule: nothing is yours until two years of service, then 100% at once. Leave a day early and the employer money goes back to the plan, the edge a two-year cliff creates.
| Employer match vesting | Cliff: 100% vested after 2 years of service |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Other employer contributions | Company matching contributions made on or after January 1, 2009, and before January 1, 2021, vested immediately; the two-year cliff applies only to matching contributions made on or after January 1, 2021 |
Vesting, word for word
“The portion of the participant's account in the Plan attributable to the participant's own contributions, including earnings thereon, vests immediately. Company matching contributions made on or after January 1, 2009, and before January 1, 2021, vested immediately. Company matching contributions made on or after January 1, 2021, will vest according to a two-year cliff vesting schedule.”
Source: Form 11-K filed May 12, 2026, SEC EDGAR · SEC ↗
Who can join Progressive's 401(k), and is enrollment automatic?
Progressive enrolls new hires automatically at 6% of pay.
| Plan entry | Eligible to participate beginning 31 calendar days after the date of employment (all employees of The Progressive Corporation and certain adopting subsidiaries who have met certain requirements) |
|---|---|
| Automatic enrollment | Yes: default deferral 6% of pay; 30-day opt-out window; default investment: Vanguard Institutional Target Retirement fund |
Eligibility, word for word
“All employees of The Progressive Corporation (the “Company") and certain of its subsidiaries that have adopted the Plan, who have met certain requirements, are eligible to participate in the Plan beginning 31 calendar days after the date of employment”
Automatic enrollment, word for word
“The Plan includes an automatic enrollment feature, in which new hires are auto-enrolled effective 30 days after receiving notification from Fidelity, with the option to opt-out. New hires who do not opt-out are automatically enrolled in a Vanguard Institutional Target Retirement fund at a 6% pre-tax contribution rate unless they select a different contribution rate and/or investment option(s).”
Source: Form 11-K filed May 12, 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 INV INST OPER CO INC”. 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.
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 Progressive plan report on Form 5500?
The Progressive plan reported $11.5B in assets and 69,645 participants for plan year 2024.
| Total plan assets | $11,533,546,294 |
|---|---|
| Participants | 69,645 |
| Plan-paid admin cost per participant | $9.09 |
How that cost compares
This plan pays $9.09 per participant. The median across plans in insurance is $119.27, from the 1,004 of 1,068 whose Form 5500 yields a per-participant cost.
The Progressive 401(k) Plan on its Form 5500 filing: fees, providers and financials
How does Progressive's 401(k) match compare?
The Progressive Corporation's maximum 401(k) match of 6% 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 in insurance, two land near Progressive's maximum match and one vests on the same schedule.
Maximum match 6% of pay. Also in insurance.
Maximum match 7.5% of pay. Also in insurance.
Maximum match 6% of pay. Also in insurance.
Maximum match 6% of pay, level with Progressive.
Maximum match 6% of pay, level with Progressive.
Maximum match 4.5% of pay. Same 2-year cliff as Progressive.
Compare The Progressive Corporation with any company, side by side
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed May 12, 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 The Progressive Corporation's 401(k) match?
The Progressive Corporation matches 100% of employee contributions up to 6% of eligible pay (plan year ended December 31, 2025).
When does the The Progressive Corporation 401(k) match vest?
Cliff: 100% vested after 2 years of service.
Does The Progressive Corporation's 401(k) plan have automatic enrollment?
Yes: default deferral 6% of pay; 30-day opt-out window; default investment: Vanguard Institutional Target Retirement fund.
Who is the recordkeeper for The Progressive Corporation's 401(k)?
Fidelity Investments is named as the recordkeeper on the Form 5500 filed for The Progressive 401(k) 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.
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 The Progressive Corporation 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 | The Progressive Corporation |
| SEC CIK | 80661 |
| Accession number | 0000080661-26-000201 |
| Plan | The Progressive 401(k) Plan |
| Period of report | December 31, 2025 |
| Filed | May 12, 2026 |
401(k) Monitor is not affiliated with The Progressive Corporation, 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, “The Progressive Corporation 401(k) plan facts”, from SEC Form 11-K accession 0000080661-26-000201, plan year ended December 31, 2025.
