Target Corporation 401(k) Review & Grade
Target Corporation 401(k) Plan
Brooklyn Park, MNRetail Trade418,824 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$913Employer $ per active participant
$1,507Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$14.4BNet plan assets, end of year
$65,727Average balance per account
Score breakdown
- Employer generosity32.9 / 5066th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving6.7 / 1545th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | neutral |
| Employee saving | 45th |
| Peers that auto-enroll | 32% |
Red flags from the filing
Corrective distributions: the plan refunded $571 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Target put in about $913 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- 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 | $382,473,638 |
| Participant (employee) contributions | $631,153,718 |
| Other contributions (incl. rollovers in) | $30,196,690 |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | $1,153,085,994 |
| Net assets, start / end of year | $13.0B / $14.4B |
| Active participants, start / end of year | 409,649 / 427,999 |
| Participants with account balances | 219,259 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251002093904NAL0000210707001, received 2025-10-02, EIN 41-0215170, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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