401(k) Monitor

U.S. Bancorp changed its 401(k) match formula, effective January 1, 2025

U.S. Bancorp changed its 401(k) match formula, effective January 1, 2025. The matching formula changed and the plan began operating as a non safe harbor plan. The filing does not state the prior formula; the current formula is 100% of contributions up to 4% of pay, deposited annually.

CompanyU.S. Bancorp
PlanU.S. Bank 401(k) Savings Plan
Effective dateJanuary 1, 2025
DirectionStructure change
Source filingForm 11-K, filed June 22, 2026, accession 0000036104-26-000032

Source: Form 11-K filed June 22, 2026, accession 0000036104-26-000032 · SEC

What the filing says, word for word

This filing states the change across several passages rather than in one sentence, so no quote is shown. The change is recorded from the filing itself, which is linked above, and nothing here is taken from press coverage.

Where this change comes from

401(k) Monitor reads the employer match, vesting, eligibility and automatic enrollment terms out of each plan’s SEC Form 11-K annual report. A change is recorded only when the filing states it, with the effective date the filing gives.

Other tracked changes

401(k) Monitor, “U.S. Bancorp changed its 401(k) match formula, effective January 1, 2025”, from SEC Form 11-K accession 0000036104-26-000032 filed June 22, 2026. https://401kmonitor.com/stats/401k-match-changes/u-s-bancorp-2025-01-01/