Retirement

At Grant Thornton, we want to help you invest in your future. There are a variety of retirement plan features to help you meet your retirement goals.

401(k) Plan

You are eligible to contribute to a 401(k) account the first of the month after you have completed 30 days of service. For employees, Grant Thornton will match 25% of the first 6% of your eligible compensation that you contribute. You are eligible to receive the firm’s matching contribution after you have attained the age of 21 and have completed one year of service.

If you are at least age 50 or older (attain age 50 during the calendar year) and have contributed the maximum plan or IRS contribution limit, you may make additional “catch-up” contributions up to the annual IRS “catch-up” limit ($7,500 for 2024). This election would be made during your annual election process.

Employee Retirement Plan (ERP) – GT Pension*

Grant Thornton has established the Grant Thornton LLP Employees’ Retirement Plan to provide additional income to employees upon their retirement. Grant Thornton credits an amount equal to 4% (6% for Executive Directors, and Managing Directors) of eligible compensation annually. Employees will be 100% vested after 3 years of continuous service.

Partner Savings Plan

Grant Thornton LLP has established the Partner Savings Plan (PSP) to provide an additional retirement savings opportunity to partners and principals upon their retirement. A partner’s contribution percentage is based upon the partner’s age as of December 31 each year.

Partner Cash Balance Plan*

Partner Cash Balance Plan (PCBP) is a defined benefit plan with a three-year cliff vesting period. Participation in the PCBP is mandatory for eligible partners, and each year a contribution will be made based on a partner’s units as of January 1 of that year.

Contact the Firmwide Benefits Group or review the relevant SPD on Canvas for more information.

*Once vesting criteria have been met, participants may take a distribution from one or both of these plans after leaving the firm and attaining age 55 (or meeting other distribution conditions). Participants have the option of choosing an annuity or a lump sum distribution.