401k Record

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Nelnet 401(k)

Recordkeeping fees per participant · Nelnet 401(k) Plan · plan year 2024

$70.47

Higher than 78% of the 1,697 plans $250M to 1B that report it.

Source

= $736,190 / 10,447
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250929161818NAL0005132835001, received 2025-09-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250929161818NAL0005132835001, received 2025-09-29

10th: $11.56median $49.9890th: $89.63

Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-09-29.

Cost and contributions

Administrative expenses excluding investment management, per participant

$70.47

10th: $18.52median $67.2190th: $147.71

Higher than 54% of the 2,324 plans $250M to 1B that report it.

Source

= $736,190 / 10,447
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250929161818NAL0005132835001, received 2025-09-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250929161818NAL0005132835001, received 2025-09-29

Administrative expenses per participant

$70.47

10th: $27.95median $88.2590th: $203.68

Higher than 37% of the 2,405 plans $250M to 1B that report it.

Source

= $736,190 / 10,447
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250929161818NAL0005132835001, received 2025-09-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250929161818NAL0005132835001, received 2025-09-29

Administrative expenses as a share of assets

0.097%

10th: 0.018%median 0.073%90th: 0.183%

Higher than 65% of the 2,407 plans $250M to 1B that report it.

Source

= $736,190 / $755,309,231
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250929161818NAL0005132835001, received 2025-09-29
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250929161818NAL0005132835001, received 2025-09-29

Employer contributions per participant

$1,743

10th: $1,169median $3,07390th: $8,346

Higher than 21% of the 2,457 plans $250M to 1B that report it.

Source

= $18,211,419 / 10,447
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250929161818NAL0005132835001, received 2025-09-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250929161818NAL0005132835001, received 2025-09-29

Employer share of total contributions

32.8%

10th: 17.5%median 31.1%90th: 48.7%

Higher than 55% of the 2,459 plans $250M to 1B that report it.

Source

= $18,211,419 / $55,571,861
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250929161818NAL0005132835001, received 2025-09-29
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250929161818NAL0005132835001, received 2025-09-29

Plan terms, as stated in Nelnet, Inc.'s SEC filings

Employer match

“The Company matches up to 100% on the first 3% of contributions and 50% on the next 2%.”

Form 10-K filed 2026-02-26, for the year ended 2025-12-31 · benefits note, 10-K benefits note · source document

Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.

Plan features

2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250929161818NAL0005132835001, received 2025-09-29

Full record, Nelnet 401(k) Plan

FieldValueSource
Plan sponsorNELNET, INC.Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250929161818NAL0005132835001, received 2025-09-29
Plan nameNELNET 401(K) PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20250929161818NAL0005132835001, received 2025-09-29
Sponsor EIN / plan number84-0748903 / 001Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250929161818NAL0005132835001, received 2025-09-29
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250929161818NAL0005132835001, received 2025-09-29
Sponsor locationLINCOLN, NEForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250929161818NAL0005132835001, received 2025-09-29
Industry (business code)523900, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20250929161818NAL0005132835001, received 2025-09-29
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250929161818NAL0005132835001, received 2025-09-29
Filing received2025-09-29Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250929161818NAL0005132835001, received 2025-09-29
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250929161818NAL0005132835001, received 2025-09-29
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20250929161818NAL0005132835001, received 2025-09-29
Participants, beginning of year11,248Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250929161818NAL0005132835001, received 2025-09-29
Active participants7,432Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250929161818NAL0005132835001, received 2025-09-29
Participants, end of year10,864Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250929161818NAL0005132835001, received 2025-09-29
Participants with an account balance10,447Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250929161818NAL0005132835001, received 2025-09-29
Total assets, beginning of year$674,259,450Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250929161818NAL0005132835001, received 2025-09-29
Total assets, end of year$755,309,231Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250929161818NAL0005132835001, received 2025-09-29
Net assets, end of year$755,157,223Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250929161818NAL0005132835001, received 2025-09-29
Total income$158,245,848Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250929161818NAL0005132835001, received 2025-09-29
Net income$81,089,891Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250929161818NAL0005132835001, received 2025-09-29
Employer contributions$18,211,419Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250929161818NAL0005132835001, received 2025-09-29
Participant contributions$34,632,561Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250929161818NAL0005132835001, received 2025-09-29
Other contributions (incl. rollovers)$2,727,881Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250929161818NAL0005132835001, received 2025-09-29
Total contributions$55,571,861Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250929161818NAL0005132835001, received 2025-09-29
Benefit payments$76,418,273Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250929161818NAL0005132835001, received 2025-09-29
Total expenses (incl. benefit payments)$77,155,957Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250929161818NAL0005132835001, received 2025-09-29
Total administrative expenses$736,190Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250929161818NAL0005132835001, received 2025-09-29
Recordkeeping fees$736,190Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250929161818NAL0005132835001, received 2025-09-29
Administrative expenses excluding investment management$736,190derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250929161818NAL0005132835001, received 2025-09-29
Held in common/collective trusts$397,618,300Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250929161818NAL0005132835001, received 2025-09-29
Held in mutual funds$344,215,980Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250929161818NAL0005132835001, received 2025-09-29
Independent auditorLUTZ & COMPANYSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250929161818NAL0005132835001, received 2025-09-29

Position = column in the DOL layout for form year 2024. Filing 20250929161818NAL0005132835001, received 2025-09-29.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
UNION BANK & TRUST COMPANYrecordkeeperRELATED PARTY 12 Claims processing; 15 Recordkeeping and information management; 21 Trustee (bank, trust company or similar); 25 Trustee (directed); 38 Participant communication; 51 Investment management fees paid directly by plan; 64 Recordkeeping fees $736,190no

Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250929161818NAL0005132835001, received 2025-09-29.

What changed since the 2023 plan year

Figure20232024Change
Total assets$674,259,450$755,309,23112.0%
Participants with a balance10,69610,447-2.3%
Administrative expenses$876,531$736,190-16.0%
Recordkeeping fees per participant$81.95$70.47-14.0%
Employer contributions$17,785,877$18,211,4192.4%

Prior filing 20241003160746NAL0010146113001, received 2024-10-03; the plan years are contiguous.

Alerts, claims and corrections

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Sponsor name as filed: NELNET, INC.; SEC registrant: NELNET INC (CIK 1258602, matched by EIN; display name from the Form 10-K cover).