Navient Corporation 401(k) Review & Grade
Navient 401(k) Savings Plan
Wilmington, DEFinance & Insurance2,664 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,850Employer $ per active participant
$7,231Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$694.0MNet plan assets, end of year
$148,709Average balance per account
Score breakdown
- Employer generosity20.7 / 5041th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1535th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 94th |
| Employee saving | 35th |
| Peers that auto-enroll | 66% |
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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 $753 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Navient put in about $3,850 per active participant, below the typical peer ($4,489). 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.
- 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 | $10,255,162 |
| Participant (employee) contributions | $19,262,331 |
| Other contributions (incl. rollovers in) | $996,727 |
| Administrative expenses paid from the plan | $153,868 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $152,668 |
| Benefits paid out | $168,912,998 |
| Net assets, start / end of year | $721.9M / $694.0M |
| Active participants, start / end of year | 3,630 / 1,698 |
| Participants with account balances | 4,667 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
| Employer stock held by plan | $7,390,481 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $152,668 reported compensation |
| Fidelity Investments Institutional | −$272,155 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007131640NAL0007964752001, received 2025-10-07, EIN 46-4054283, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.