Big Lots, Inc. 401(k) Review & Grade
Big Lots Savings Plan
Columbus, OHRetail Trade20,678 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$339Employer $ per active participant
$829Employee $ saved per active participant
0.18%Direct admin cost, % of plan assets
$312.1MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.1 / 5016th percentile for employer $ per participant
- Low cost5.3 / 2521th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score6 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 21th |
| Employee saving | 18th |
| Peers that auto-enroll | 32% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($779,362 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $874,362 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Big Lots put in about $339 per active participant, below the typical peer ($689). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.18% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $7,018,558 |
| Participant (employee) contributions | $17,135,407 |
| Other contributions (incl. rollovers in) | $1,106,424 |
| Administrative expenses paid from the plan | $569,210 |
| Contract administrator fees | $3,000 |
| Investment advisory & management fees | $85,882 |
| Benefits paid out | $89,204,040 |
| Net assets, start / end of year | $333.4M / $312.1M |
| Active participants, start / end of year | 21,907 / 19,448 |
| Participants with account balances | 5,867 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ary Roepcke Mulchaey P.C. |
| Employer stock held by plan | $48,244 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $492,519 reported compensation |
| Cbiz Investment Advisory | $47,527 reported compensation |
| Strategic Advisors, Inc. | $43,408 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250708141732NAL0002308979001, received 2025-07-08, EIN 06-1119097, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.