Warner Bros. Discovery, Inc. 401(k) Review & Grade
Warner Bros. Discovery 401(k) Savings Plan
New York, NYManagement of Companies17,884 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,197Employer $ per active participant
$12,740Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$8.1BNet plan assets, end of year
$207,985Average balance per account
Score breakdown
- Employer generosity45.3 / 5091th percentile for employer $ per participant
- Low cost21.2 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score87 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 85th |
| Employee saving | 89th |
| Peers that auto-enroll | 50% |
Red flags from the filing
Corrective distributions: the plan refunded $1,098,844 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Warner Bros. Discovery put in about $8,197 per active participant, more than the typical peer ($2,229). 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.
- 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 | $146,586,875 |
| Participant (employee) contributions | $227,833,094 |
| Other contributions (incl. rollovers in) | $24,724,075 |
| Administrative expenses paid from the plan | $2,236,115 |
| Investment advisory & management fees | $1,008,064 |
| Benefits paid out | $824,836,154 |
| Net assets, start / end of year | $7.6B / $8.1B |
| Active participants, start / end of year | 18,233 / 17,534 |
| Participants with account balances | 39,022 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Financial Engines | $1,008,064 reported compensation |
| Fid Inv Inst Ops Co | $965,778 reported compensation |
| Groom Law Group | $215,423 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250829075228NAL0021921186001, received 2025-08-29, EIN 35-2333914, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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