Cardinal Health, Inc. 401(k) Review & Grade
Cardinal Health 401(k) Savings Plan
Dublin, OHWholesale Trade31,145 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,523Employer $ per active participant
$5,300Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$4.8BNet plan assets, end of year
$148,015Average balance per account
Score breakdown
- Employer generosity27.9 / 5056th percentile for employer $ per participant
- Low cost18.3 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Wholesale Trade plans with 10,000+ active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 56th |
| Lower admin cost | 73th |
| Employee saving | 47th |
| Peers that auto-enroll | 63% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Cardinal Health put in about $2,523 per active participant, more than the typical peer ($2,420). 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 | $78,591,039 |
| Participant (employee) contributions | $165,082,090 |
| Other contributions (incl. rollovers in) | $29,081,748 |
| Administrative expenses paid from the plan | $2,125,076 |
| Contract administrator fees | $444,257 |
| Investment advisory & management fees | $150,000 |
| Other admin expenses | $123,435 |
| Benefits paid out | $470,922,259 |
| Net assets, start / end of year | $4.3B / $4.8B |
| Active participants, start / end of year | 31,275 / 31,015 |
| Participants with account balances | 32,188 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $256,627,332 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $964,816 reported compensation |
| Principal Life Insurance Company | $444,257 reported compensation |
| Groom Law Group, Chartered | $273,564 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730154837NAL0010840498001, received 2025-07-30, EIN 31-0958666, plan #055, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.