Macys, Inc. 401(k) Review & Grade
Macys Inc 401(k) Retirement Investment Plan
Springdale, OHRetail Trade106,400 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$830Employer $ per active participant
$2,201Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$4.6BNet plan assets, end of year
$37,153Average balance per account
Score breakdown
- Employer generosity31.3 / 5063th percentile for employer $ per participant
- Low cost13.6 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving10.6 / 1571th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 63th |
| Lower admin cost | 55th |
| Employee saving | 71th |
| Peers that auto-enroll | 32% |
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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
- Macys put in about $830 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 | $88,306,000 |
| Participant (employee) contributions | $234,230,000 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $3,480,000 |
| Investment advisory & management fees | $62,000 |
| Other admin expenses | $85,000 |
| Benefits paid out | $462,141,000 |
| Net assets, start / end of year | $4.3B / $4.6B |
| Active participants, start / end of year | 109,553 / 103,247 |
| Participants with account balances | 124,743 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Clark Schaefer Hackett & Co. |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner & Smith | $2,818,934 reported compensation |
| Macy's Credit & Customer Service | $466,131 reported compensation |
| Rocaton Investments Advisors | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134909NAL0009913170001, received 2025-10-15, EIN 13-3324058, plan #013, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.