Rite Aid Corporation 401(k) Review & Grade
The Rite Aid 401(k) Plan
Harrisburg, PARetail Trade22,628 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,369Employer $ per active participant
$3,246Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$3.2BNet plan assets, end of year
$140,807Average balance per account
Score breakdown
- Employer generosity40.2 / 5080th percentile for employer $ per participant
- Low cost15.2 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving12.8 / 1585th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 61th |
| Employee saving | 85th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $27,877 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Rite Aid put in about $1,369 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.
- 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 | $30,970,027 |
| Participant (employee) contributions | $73,460,548 |
| Other contributions (incl. rollovers in) | $5,881,899 |
| Administrative expenses paid from the plan | $2,146,367 |
| Investment advisory & management fees | $852,048 |
| Other admin expenses | $4,199 |
| Benefits paid out | $631,972,356 |
| Net assets, start / end of year | $3.3B / $3.2B |
| Active participants, start / end of year | 28,313 / 16,944 |
| Participants with account balances | 22,767 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $755,745 reported compensation |
| Empower Advisory Group, LLC | $725,711 reported compensation |
| Nepc LLC | $126,337 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250905145524NAL0017299473001, received 2025-09-05, EIN 23-1614034, plan #025, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.