Staples, Inc. 401(k) Review & Grade
Staples, Inc. Employees' 401(k) Savings Plan
Framingham, MARetail Trade12,074 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,405Employer $ per active participant
$4,843Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.5BNet plan assets, end of year
$86,835Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost15.5 / 2562th percentile for low admin cost vs. same-size plans
- Employee saving14.4 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score68 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 62th |
| Employee saving | 96th |
| Peers that auto-enroll | 32% |
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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 ($5,438 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $42,939 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Staples put in about $1,405 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $16,966,667 |
| Participant (employee) contributions | $58,469,200 |
| Other contributions (incl. rollovers in) | $6,325,365 |
| Administrative expenses paid from the plan | $943,230 |
| Other admin expenses | $1,800 |
| Benefits paid out | $195,732,754 |
| Net assets, start / end of year | $1.4B / $1.5B |
| Active participants, start / end of year | 12,947 / 11,200 |
| Participants with account balances | 17,455 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $941,430 reported compensation |
| Qdro Consultants Company, LLC | $1,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015141451NAL0002429363001, received 2025-10-15, EIN 04-2896127, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.