Hy-Vee, Inc. 401(k) Review & Grade
The Hy-Vee and Affiliates 401(k) Plan
West Des Moines, IARetail Trade55,672 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$687Employer $ per active participant
$2,011Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$3.1BNet plan assets, end of year
$54,407Average balance per account
Score breakdown
- Employer generosity24.8 / 5050th percentile for employer $ per participant
- Low cost9.7 / 2539th percentile for low admin cost vs. same-size plans
- Employee saving9.3 / 1562th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 39th |
| Employee saving | 62th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,518 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hy-Vee put in about $687 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.
- 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 | $38,243,626 |
| Participant (employee) contributions | $111,976,547 |
| Other contributions (incl. rollovers in) | $12,152,334 |
| Administrative expenses paid from the plan | $3,431,910 |
| Contract administrator fees | $3,421,365 |
| Other admin expenses | $10,545 |
| Benefits paid out | $282,339,573 |
| Net assets, start / end of year | $2.9B / $3.1B |
| Active participants, start / end of year | 55,411 / 55,933 |
| Participants with account balances | 57,133 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
| Employer stock held by plan | $153,909,268 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $3,418,998 reported compensation |
| Sowell Financial Inc | $5,349 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260211093024NAL0006601170001, received 2026-02-11, EIN 42-0325638, plan #002, plan year 2024-09-30 to 2025-09-28. Verify at efast.dol.gov.