Norfolk Southern Corporation 401(k) Review & Grade
Thrift and Investment Plan of Norfolk Southern Corporation and Participating Subsidiary Companies
Atlanta, GAManagement of Companies4,836 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,035Employer $ per active participant
$8,651Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$237,223Average balance per account
Score breakdown
- Employer generosity20.3 / 5041th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 77th |
| Employee saving | 76th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,857 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Norfolk Southern put in about $3,035 per active participant, below the typical peer ($3,455). 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $14,676,667 |
| Participant (employee) contributions | $41,839,997 |
| Other contributions (incl. rollovers in) | $65,550 |
| Administrative expenses paid from the plan | $814,748 |
| Investment advisory & management fees | $630,057 |
| Other admin expenses | $5,250 |
| Benefits paid out | $152,121,584 |
| Net assets, start / end of year | $1.5B / $1.6B |
| Active participants, start / end of year | 5,094 / 4,579 |
| Participants with account balances | 6,541 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KPMG LLP |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $630,057 reported compensation |
| The Vanguard Group, Inc. | $161,845 reported compensation |
| Qdro Consultants Co LLC | $5,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627170808NAL0005435603001, received 2025-06-27, EIN 52-1188014, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.