Mckesson Corporation 401(k) Review & Grade
Mckesson Corporation 401(k) Retirement Savings Plan
Irving, TXWholesale Trade26,310 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,843Employer $ per active participant
$8,320Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$5.7BNet plan assets, end of year
$141,404Average balance per account
Score breakdown
- Employer generosity39.7 / 5079th percentile for employer $ per participant
- Low cost22.7 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving14.1 / 1594th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 91th |
| Employee saving | 94th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $48,427 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mckesson put in about $3,843 per active participant, more than the typical peer ($2,420). 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.
- 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 | $101,113,729 |
| Participant (employee) contributions | $218,906,177 |
| Other contributions (incl. rollovers in) | $39,564,453 |
| Administrative expenses paid from the plan | $1,145,827 |
| Investment advisory & management fees | $10,336 |
| Other admin expenses | $243,523 |
| Benefits paid out | $732,120,644 |
| Net assets, start / end of year | $5.6B / $5.7B |
| Active participants, start / end of year | 25,981 / 26,640 |
| Participants with account balances | 40,177 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Carr, Riggs, & Ingram LLC |
| Employer stock held by plan | $822,350,704 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $869,968 reported compensation |
| Carr Riggs & Ingram, LLC | $22,000 reported compensation |
| Partnercomm | $10,336 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260115135138NAL0016465521001, received 2026-01-15, EIN 94-3207296, plan #002, plan year 2024-04-01 to 2025-03-31. Verify at efast.dol.gov.