CVS Health Corporation 401(k) Review & Grade
CVS Health Future Fund 401(k) Plan
Woonsocket, RIRetail Trade277,230 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,014Employer $ per active participant
$3,983Employee $ saved per active participant
0.15%Direct admin cost, % of plan assets
$30.1BNet plan assets, end of year
$130,345Average balance per account
Score breakdown
- Employer generosity46.3 / 5093th percentile for employer $ per participant
- Low cost6.9 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 28th |
| Employee saving | 92th |
| 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
Corrective distributions: the plan refunded $231,570 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- CVS Health put in about $2,014 per active participant, more than the typical peer ($689). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.15% 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.
- 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 | $558,308,804 |
| Participant (employee) contributions | $1,104,297,150 |
| Other contributions (incl. rollovers in) | $126,371,057 |
| Administrative expenses paid from the plan | $43,865,252 |
| Investment advisory & management fees | $36,770,815 |
| Other admin expenses | $30,552 |
| Benefits paid out | $2,540,027,517 |
| Net assets, start / end of year | $27.6B / $30.1B |
| Active participants, start / end of year | 240,493 / 313,966 |
| Participants with account balances | 230,636 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $15,954,978 reported compensation |
| The Vanguard Group, Inc. | $5,431,119 reported compensation |
| MFS Institutional Advisors, Inc. | $3,108,605 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006141123NAL0003741777001, received 2025-10-06, EIN 05-0494040, plan #017, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.