Company: ACIW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000935036-25-000006
Chunk: 50

Company: ACI WORLDWIDE, INC.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 15
Chunk 50
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 one of the Company's mortgage servicing customers were inadvertently transmitted into the ACH network during a test of the Company's payment processing system. The Company took immediate corrective action and issued reversing ACH files, restoring affected accounts. The Company’s customer commenced an action for damages as a result of this event. The Company settled with the customer for the amount of $1.8 million, which was funded by insurance carriers.Funds received from or expected to be received from insurance carriers are generally subject to the respective carriers' reservation of rights.  The Company is from time to time subject to other claims, litigation, and investigations. While the Company believes that none of the currently pending matters is reasonably likely to have a material adverse effect on it, there can be no assurance with respect thereto or future matters.

14. Employee Benefit Plans 

The Company offers various defined contribution plans for our U.S. and non-U.S. employees. Total defined contribution plan expense was $13.2 million, $12.8 million, and $13.4 million during the years ended December 31, 2024, 2023, and 2022, respectively.ACI 401(k) PlanThe ACI 401(k) Plan is a defined contribution plan covering all domestic employees of the Company. Participants may contribute up to 75% of their annual eligible compensation up to a maximum of $23,000 (for employees who are under the age of 50 on December 31, 2024) or a maximum of $30,500 (for employees aged 50 or older on December 31, 2024). The Company matches 100% of the first 4% of eligible participant contributions and 50% of the next 4% of eligible participant contributions, not to exceed $6,000 per employee annually. Effective January 1, 2024, employees are eligible for the Company match immediately. Employees hired January 1, 2024, and after have a one year vesting schedule for the match. Company contributions charged to expense were $6.2 million, $5.0 million, and $6.2 million during the years ended December 31, 2024, 2023, and 2022, respectively.ACI Worldwide EMEA Group Personal Pension SchemeThe ACI Worldwide EMEA Group Personal Pension Scheme is a defined contribution plan covering substantially all ACI Worldwide (EMEA) Limited (“ACI-EMEA”) employees. For those ACI-EMEA employees who elect to