Walmart Inc. 401(k) Review & Grade
Walmart 401(k) Plan
Bentonville, ARRetail Trade1,653,316 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,104Employer $ per active participant
$1,552Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$50.7BNet plan assets, end of year
$43,701Average balance per account
Score breakdown
- Employer generosity37.0 / 5074th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving7.2 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 49th |
| Employee saving | 48th |
| Peers that auto-enroll | 32% |
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
- Walmart put in about $1,104 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 | $1,825,137,785 |
| Participant (employee) contributions | $2,566,646,040 |
| Other contributions (incl. rollovers in) | $129,865,162 |
| Administrative expenses paid from the plan | $41,265,152 |
| Contract administrator fees | $24,035,254 |
| Investment advisory & management fees | $16,261,287 |
| Benefits paid out | $4,029,570,271 |
| Net assets, start / end of year | $41.5B / $50.7B |
| Active participants, start / end of year | 1,635,899 / 1,670,732 |
| Participants with account balances | 1,161,254 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young, LLP |
| Employer stock held by plan | $5,738,048,126 |
Largest service providers (Schedule C)
| Merrill Lynch Pierce Fenner Smith I | $24,035,254 reported compensation |
| Blackrock Institutional Trust Co NA | $3,799,185 reported compensation |
| Vaughan Nelson Investment Mgmt | $2,961,377 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814105617NAL0005370979001, received 2025-08-14, EIN 71-0415188, plan #003, plan year 2024-02-01 to 2025-01-31. Verify at efast.dol.gov.
Other 401(k) plans filed under this employer's EIN
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