Digi-Key Corporation 401(k) Review & Grade
Digi-Key Corporation 401(k) Profit Sharing Plan
Thief River Falls, MNWholesale Trade3,884 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,360Employer $ per active participant
$5,859Employee $ saved per active participant
0.12%Direct admin cost, % of plan assets
$490.8MNet plan assets, end of year
$102,206Average balance per account
Score breakdown
- Employer generosity38.7 / 5077th percentile for employer $ per participant
- Low cost12.6 / 2550th percentile for low admin cost vs. same-size plans
- Employee saving8.2 / 1555th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 77th |
| Lower admin cost | 50th |
| Employee saving | 55th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,860 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Digi-Key put in about $4,360 per active participant, more than the typical peer ($2,459). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $16,934,788 |
| Participant (employee) contributions | $22,757,644 |
| Other contributions (incl. rollovers in) | $2,743,769 |
| Administrative expenses paid from the plan | $568,274 |
| Other admin expenses | $600 |
| Benefits paid out | $44,192,291 |
| Net assets, start / end of year | $443.8M / $490.8M |
| Active participants, start / end of year | 3,993 / 3,776 |
| Participants with account balances | 4,802 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | DS & B LTD. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $567,674 reported compensation |
| Qdro Consultants | $600 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006221215NAL0002355955001, received 2025-10-06, EIN 41-1234968, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.