Provo Orem and Spanish Fork employers are among the leaders in Utah at matching 401(k) contributions.

Folks working in Provo might want to take another look at their 401(k) plans. According to research from financial technology company SmartAsset, using data from the United States Department of Labor, Provo employers are among the leaders in Utah at matching 401(k) contributions. You can see where Provo ranks in Utah in the table below:

Rank City Employer Contribution Percentage Investment Performance Administrative Fees Employer Contributions Index
1 Herriman, UT 58.2% 2.0% 0.5% 58.18
2 Orem, UT 57.4% 4.4% 0.3% 57.42
3 Roosevelt, UT 55.8% 5.0% 0.1% 55.81
4 Spanish Fork, UT 49.1% 4.1% 0.3% 49.14
5 Vernal, UT 47.8% 3.8% 0.4% 47.80
6 St. George, UT 44.2% 5.2% 0.0% 44.23
7 Taylorsville, UT 44.0% 5.8% 0.4% 43.96
8 Layton, UT 40.8% 4.5% 0.1% 40.80
9 Price, UT 40.7% 5.2% 0.1% 40.68
10 Provo, UT 39.8% 5.3% 0.3% 39.82

The rankings are a factor in SmartAsset’s overarching study on the places with the access to the best 401(k) plans, which analyzes investment performance and administrative fees in addition to employer contributions. The full study results, methodology, and interactive map can be found here: https://smartasset.com/retirement/401k-calculator#Utah/best-401k

 

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