The Bank of New York Mellon is heading into its third year with one of the rarest 401k practices among Fortune 500 companies — an annual lump sum match paid after the year ends.

While most large companies deposit retirement contributions each pay cycle — allowing workers to capture market gains throughout the year — BNY changed its payment to once a year in 2023, a policy that has frustrated some employees.

“One of the greatest benefits of a 401k is the compounding growth in value and they rob you of that,” wrote one BNY employee in a Reddit post.

A BNY spokesman declined to answer specific questions about the 401k payment. Employees on Reddit indicated the company will deposit its 2025 match into their accounts on Jan. 31, 2026.

The banking giant’s retirement plan is generous on paper

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