VS Service Company, LLC 401(k) Review & Grade
Victoria's Secret & Co. 401(k) Savings and Retirement Plan
Reynoldsburg, OHRetail Trade16,794 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,819Employer $ per active participant
$2,093Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$892.5MNet plan assets, end of year
$71,787Average balance per account
Score breakdown
- Employer generosity45.5 / 5091th percentile for employer $ per participant
- Low cost6.2 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 25th |
| Employee saving | 64th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Corrective distributions: the plan refunded $609 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- VS Service Company put in about $1,819 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.
- Direct plan expenses (0.17% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $30,545,105 |
| Participant (employee) contributions | $35,144,097 |
| Other contributions (incl. rollovers in) | $2,182,592 |
| Administrative expenses paid from the plan | $1,389,399 |
| Investment advisory & management fees | $104,750 |
| Benefits paid out | $73,371,924 |
| Net assets, start / end of year | $788.1M / $892.5M |
| Active participants, start / end of year | 17,759 / 15,828 |
| Participants with account balances | 12,433 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $4,485,579 |
Largest service providers (Schedule C)
| Alight Solutions LLC | $1,073,388 reported compensation |
| Matrix Trust Company | $211,261 reported compensation |
| Capfinancial Partners, LLC | $104,750 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251001104620NAL0031432866001, received 2025-10-01, EIN 31-1228823, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.