Wegmans Food Markets Inc. 401(k) Review & Grade
The Wegmans Retirement Plans
Rochester, NYRetail Trade48,542 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,704Employer $ per active participant
$2,467Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$3.4BNet plan assets, end of year
$85,257Average balance per account
Score breakdown
- Employer generosity45.1 / 5090th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 95th |
| Employee saving | 73th |
| Peers that auto-enroll | 32% |
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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 $6,589 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Wegmans Food Markets put in about $1,704 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 | $82,724,191 |
| Participant (employee) contributions | $119,748,394 |
| Other contributions (incl. rollovers in) | $8,503,315 |
| Administrative expenses paid from the plan | $360,850 |
| Benefits paid out | $241,032,732 |
| Net assets, start / end of year | $3.0B / $3.4B |
| Active participants, start / end of year | 42,027 / 55,056 |
| Participants with account balances | 39,886 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $362,932 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250807084317NAL0002088211001, received 2025-08-07, EIN 16-1309424, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.