Education

Employer Match and PFOF: How Your 401k Contributions Are Routed

Your employer match in a 401k that uses a PFOF-dependent brokerage window ultimately routes to Citadel Securities.

The Matching Connection

If your employer 401k uses a brokerage window at Schwab, Fidelity (note: Fidelity does not accept PFOF for equity), TD Ameritrade, or E*Trade, your employer matching contributions — when invested in equities — route through PFOF to Citadel.

employer match PFOF401k employer match Citadelretirement match routing

Support Independent Accountability Journalism

The Ethics Reporter is the only independent news organization systematically tracking how Kenneth Griffin's political spending relates to the regulatory environment that protects Citadel Securities' business model. This reporting serves retail investors across every state in the country.

We are reader-funded and accept no money from financial industry advertisers. If this reporting is valuable — if you believe retail investors deserve transparency about who controls their trades — please support us.

Reader Supported

This journalism is free because readers like you make it possible.

We don't have corporate advertisers. We don't take money from law firms. Every investigation you read here is funded entirely by readers. Even $1 keeps us going.

Join 47 readers who donated this month

47% toward our monthly goal of 100 supporters

Secure checkout via Stripe. Cancel your monthly gift anytime.