Industry · Form 5500 business code 452200
Department Stores: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
For plan year 2024, 26 retirement plans in department stores with 100 or more participants filed Form 5500: 21 defined contribution and 5 defined benefit. They reported 1,126,572 participant records and $37.7B in net assets, counting every plan on the form.
The median defined contribution plan held $26,299 per participant, well below the national median of $53,031, and its employer put in $855 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $56.63 per participant against $123 nationally.
Employers contributed $682M and participants $1.32B during the year, and the plans paid out $3.41B in benefits.
In 2018 the same group numbered 29 plans with $30.8B; by 2024 it was 26 plans (down 10%) and $37.7B (up 23%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $26,299 | $53,031 | $43,474 | $86,234 |
| Employer contributions per active participant | $855 | $2,174 | $3,832 | $10,244 |
| Schedule C compensation per participant | $56.63 | $123 | $209 | $344 |
| Schedule C compensation, share of net assets | 0.21% | 0.26% | 0.57% | 0.42% |
| Administrative expenses per participant | $59.33 | $116 | $313 | $527 |
Medians across plans with 100 or more participants (21 DC and 5 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $14,011 | $26,299 | $39,218 | 21 |
| Employer contributions per active participant | $453 | $855 | $1,220 | 19 |
| Schedule C compensation per participant | $22.53 | $56.63 | $94.30 | 18 |
| Administrative expenses per participant | $22.39 | $59.33 | $95.59 | 18 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2024 | 26 | 1,126,572 | $37.7B | $682M | $1.32B | $26,299 | $56.63 |
| 2023 | 27 | 1,132,914 | $35.4B | $796M | $1.26B | $25,551 | $64.63 |
| 2022 | 26 | 1,205,886 | $31.7B | $631M | $1.26B | $21,717 | $37.24 |
| 2021 | 25 | 1,190,658 | $38.6B | $574M | $1.19B | $22,604 | $58.01 |
| 2020 | 27 | 1,113,253 | $38.6B | $503M | $1.03B | $18,360 | $43.46 |
| 2019 | 29 | 1,177,582 | $36.1B | $569M | $1.08B | $16,352 | $42.49 |
| 2018 | 29 | 1,212,186 | $30.8B | $670M | $1.04B | $16,258 | $16.68 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 26 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 26 largest by participants of 26 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Target Corporation 401(k) Plan | Target Corporation | MN | DC | 495,482 | $14.4B | $29,085 | $894 | — |
| Macys Inc. 401(k) Retirement Investment Plan | Macys, Inc. | OH | DC | 163,125 | $4.63B | $28,411 | $855 | $21.31 |
| Nordstrom 401(k) Plan | Nordstrom, Inc. | WA | DC | 109,402 | $4.29B | $39,218 | $1,286 | $99.67 |
| Target Corporation Pension Plan | Target Corporation | MN | DB | 75,775 | $3.29B | $43,474 | — | $138 |
| Kohl's Inc. Savings Plan | Kohl's Inc. | WI | DC | 63,271 | $2.28B | $36,073 | $1,053 | — |
| J. C. Penney Corporation, Inc. Safe Harbor 401(k) Savings Plan | Penney Opco, LLC | TX | DC | 61,998 | $2.17B | $34,999 | $788 | $20.85 |
| Dillard's, Inc. Investment & Employee Stock Ownership Plan | Dillard's, Inc. | AR | DC | 44,726 | $3.00B | $67,163 | $850 | $52.97 |
| Macys Inc. Cash Account Pension Plan | Macys Inc. | OH | DB | 36,261 | $1.88B | $51,727 | — | $124 |
| Big Lots Savings Plan | Big Lots, Inc. | OH | DC | 22,279 | $312M | $14,011 | $361 | $26.19 |
| Belk 401(k) Savings Plan | Belk Stores Services, LLC | NC | DC | 21,400 | $401M | $18,722 | $525 | $20.28 |
| Variety Wholesalers, Inc. Retirement Savings 401(k) Plan | Variety Wholesalers, Inc. | NC | DC | 10,521 | $31.2M | $2,966 | $17 | $8.60 |
| HBC 401(k) Retirement Savings Plan | Saks Global Enterprises LLC | NY | DC | 10,380 | $535M | $51,494 | $426 | $78.20 |
| Belk Pension Plan | Belk Stores Services, LLC | NC | DB | 2,800 | $223M | $79,786 | — | $453 |
| Saks Fifth Avenue Pension Plan | Saks & Company LLC | NY | DB | 2,529 | $60.8M | $24,059 | $3,832 | $293 |
| Von Maur 401(k) Retirement Plan | Von Maur, Inc. | IA | DC | 2,423 | $112M | $46,337 | $1,023 | $118 |
| Curacao 401(k) Plan | Adir International, LLC DBA Curacao | CA | DC | 1,309 | $28.6M | $21,875 | $480 | $34.75 |
| R H Reny Inc. 401(k) Profit Sharing Plan & Trust | R H Reny Inc. | ME | DC | 524 | $9.5M | $18,186 | $354 | $73.28 |
| The Dii 401(k) Plan | Dii Enterprises, LLC | NY | DC | 398 | $1.9M | $4,673 | $119 | $45.38 |
| The Mast General Store, Inc. Employee Stock Ownership Plan | The Mast General Store, Inc. | NC | DC | 334 | $8.8M | $26,299 | $1,614 | — |
| The Mast General Store, Inc. 401(k) Retirement Plan | The Mast General Store, Inc. | NC | DC | 328 | $16.3M | $49,752 | $1,153 | $120 |
| Pepe Ganga Retirement Plan | Pepe Ganga, Corp. | PR | DC | 320 | $1.9M | $5,920 | $1,508 | $60.28 |
| Good's Store, Inc. Profit Sharing Plan | Goods Store, Inc. | PA | DC | 244 | $17.7M | $72,467 | $2,078 | $62.27 |
| Muji USA Limited 401(k) Plan | Muji USA Limited | NY | DC | 218 | $2.3M | $10,672 | — | $150 |
| Famsa 401(k) Profit Sharing Plan | Famsa | TX | DC | 205 | $2.3M | $11,049 | — | $2.11 |
| Broadway Stores, Inc. Pension Plan for Part. Concessionaires | Macys Retail Holdings LLC | OH | DB | 115 | $1.4M | $12,339 | — | $209 |
| Flemington Department Store, Inc. Employee Stock Ownership Plan | Flemington Department Store, Inc. | NJ | DC | 108 | $2.8M | $26,077 | $1,996 | $281 |
By plan size
By state
Questions and answers
How many retirement plans are there in department stores?
26 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 34 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in department stores?
The median defined contribution plan reported $26,299 in net assets per participant (middle half of plans: $14,011 to $39,218); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in department stores?
The median defined contribution plan received $855 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in department stores?
Among defined contribution plans that report any Schedule C compensation, the median was $56.63 per participant and 0.21% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.