Whole Foods Market, Inc. 401(k) Review & Grade
Whole Foods Market Growing Your Future 401(k) Plan
Austin, TXRetail Trade94,068 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$561Employer $ per active participant
$2,651Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$2.4BNet plan assets, end of year
$24,549Average balance per account
Score breakdown
- Employer generosity20.7 / 5041th percentile for employer $ per participant
- Low cost4.9 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving11.8 / 1579th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score34 / 100 · Grade D
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 20th |
| Employee saving | 79th |
| 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.
Corrective distributions: the plan refunded $7,183 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Whole Foods Market put in about $561 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 (0.19% 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.
- 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 | $52,797,789 |
| Participant (employee) contributions | $249,332,189 |
| Other contributions (incl. rollovers in) | $12,369,921 |
| Administrative expenses paid from the plan | $4,165,833 |
| Contract administrator fees | $4,500 |
| Investment advisory & management fees | $493,731 |
| Other admin expenses | $97,288 |
| Benefits paid out | $231,379,137 |
| Net assets, start / end of year | $2.1B / $2.4B |
| Active participants, start / end of year | 92,280 / 95,856 |
| Participants with account balances | 99,215 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $3,539,788 reported compensation |
| Strategic Advisors, Inc. | $493,731 reported compensation |
| Cook Street Consulting, Inc. | $97,288 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013114419NAL0000558067001, received 2025-10-13, EIN 74-1989366, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.