Keurig DR Pepper Inc. 401(k) Review & Grade
Keurig DR Pepper 401(k) Plan
Frisco, TXManufacturing21,432 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,229Employer $ per active participant
$4,452Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$81,568Average balance per account
Score breakdown
- Employer generosity13.3 / 5027th percentile for employer $ per participant
- Low cost14.2 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving2.3 / 1515th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 57th |
| Employee saving | 15th |
| Peers that auto-enroll | 69% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($830,834 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $17,337 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Keurig DR Pepper put in about $3,229 per active participant, below the typical peer ($5,480). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $69,209,695 |
| Participant (employee) contributions | $95,411,195 |
| Other contributions (incl. rollovers in) | $15,131,857 |
| Administrative expenses paid from the plan | $1,307,795 |
| Contract administrator fees | $6,900 |
| Other admin expenses | $209,105 |
| Benefits paid out | $204,146,390 |
| Net assets, start / end of year | $1.7B / $1.9B |
| Active participants, start / end of year | 21,709 / 21,156 |
| Participants with account balances | 23,235 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,056,105 reported compensation |
| Aon | $160,539 reported compensation |
| Curcio Webb | $48,566 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250910120852NAL0013427267001, received 2025-09-10, EIN 98-0517725, plan #010, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.