National Vision, Inc. 401(k) Review & Grade
National Vision, Inc. 401(k) Retirement Savings Plan
Duluth, GARetail Trade11,768 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$382Employer $ per active participant
$2,542Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$234.8MNet plan assets, end of year
$17,835Average balance per account
Score breakdown
- Employer generosity11.8 / 5024th percentile for employer $ per participant
- Low cost1.1 / 254th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1576th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 4th |
| Employee saving | 76th |
| 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.
What to do if you're in this plan
- National Vision put in about $382 per active participant, below the typical peer ($689). 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.
- Direct plan expenses (0.45% 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 | $4,497,484 |
| Participant (employee) contributions | $29,911,836 |
| Other contributions (incl. rollovers in) | $1,707,662 |
| Administrative expenses paid from the plan | $994,989 |
| Other admin expenses | $50,000 |
| Benefits paid out | $35,288,060 |
| Net assets, start / end of year | $205.9M / $234.8M |
| Active participants, start / end of year | 11,153 / 12,384 |
| Participants with account balances | 13,165 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Moore Colson |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $944,989 reported compensation |
| Atlanta Consulting Group Advisors | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922154738NAL0002221267001, received 2025-09-22, EIN 58-1910859, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.