Ohio › Wholesale trade › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Cardinal Health 401(k) Savings Plan
Sponsored by Cardinal Health, Inc., Dublin, OH
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. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Cardinal Health 401(k) Savings Plan is an ESOP with a 401(k) feature sponsored by Cardinal Health, Inc. of Dublin, Ohio. For the plan year ending 31 Dec 2025 it reported 44,500 participants, 34,739 of them active, and net assets of $5.55B.
Net assets came to $116,772 per participant in plan year 2024, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $65,557 median for defined contribution plans in wholesale trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $85.8M during the year, or $2,470 per active participant against a same-size median of $2,417; participants contributed $178M and $62.3M arrived as rollovers and other contributions. Benefits paid out totalled $535M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $2.0M: $45.34 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $2.1M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $1.57B in 2009 to $5.55B in 2025 (up 253%), and participants from 51,431 to 44,500 (down 13%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $116,772 | $62,774 | $65,557 | $53,102 |
| Employer contributions per active participant | $2,534 | $2,417 | $2,107 | $2,175 |
| Schedule C compensation per participant | $52.05 | $36.41 | $153 | $123 |
| Schedule C compensation, share of net assets | 0.04% | 0.07% | 0.27% | 0.26% |
| Administrative expenses per participant | $52.09 | $38.81 | $147 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 plans), wholesale trade (3,526) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 44,500 | $5.55B | $124,753 | $85.8M | $178M | $2.0M |
| 2024 | 40,800 | $4.76B | $116,772 | $78.6M | $165M | $2.1M |
| 2023 | 44,354 | $4.28B | $96,593 | $75.5M | $158M | $2.0M |
| 2022 | 44,089 | $3.71B | $84,162 | $69.4M | $150M | $2.1M |
| 2021 | 44,525 | $4.56B | $102,415 | $69.8M | $150M | $2.1M |
| 2020 | 45,033 | $4.17B | $92,538 | $77.3M | $147M | $2.4M |
| 2019 | 49,176 | $3.64B | $74,013 | $113M | $143M | $2.4M |
| 2018 | 48,298 | $3.01B | $62,278 | $143M | $142M | $2.4M |
| 2017 | 46,801 | $3.19B | $68,141 | $61.2M | $124M | $2.7M |
| 2016 | 46,615 | $2.77B | $59,321 | $85.1M | $115M | $2.5M |
| 2015 | 44,774 | $2.62B | $58,589 | $105M | $104M | $2.7M |
| 2014 | 41,920 | $2.55B | $60,820 | $89.8M | $91.8M | $1.9M |
| 2013 | 39,376 | $2.41B | $61,295 | $75.9M | $84.2M | $2.1M |
| 2012 | 38,836 | $1.98B | $50,972 | $59.7M | $82.4M | $1.5M |
| 2011 | 40,335 | $1.84B | $45,716 | $59.7M | $78.1M | $1.8M |
| 2010 | 44,010 | $1.86B | $42,345 | $86.6M | $73.6M | $1.6M |
| 2009 | 51,431 | $1.57B | $30,599 | $75.9M | $93.0M | $1.5M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$4,764,316,473
- Employer contributions$85,817,834
- Participant contributions$177,506,825
- Rollovers and other contributions$62,285,721
- Total contributions$325,610,380
- Total income, including investment results$1,258,531,084
- Benefits paid$534,608,251
- Administrative expenses$2,054,544
- Total expenses$536,549,614
- Net income$721,981,470
- Net transfers$65,190,348
- Net assets, end of year$5,551,488,291
Participants
- Active participants34,739
- Retired or separated, receiving benefits66
- Retired or separated, entitled to future benefits9,522
- Participants with account balances34,670
- Total participants, end of year44,500
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Recordkeeping and information management; Contract Administrator; Participant loan processing | $1,413,583 | $0 |
| Ary Roepcke Mulchaey, P.C. | Accounting (including auditing) | $162,841 | $0 |
| Ernst & Young LLP | Accounting (including auditing) | $151,125 | $0 |
| Nepc, LLC | Investment advisory (plan); Investment management | $145,492 | $0 |
| Groom Law Group, Chartered | Legal | $144,664 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$967,546
- Contract administrator fees$446,037
- Other administrative expenses$199,680
- IQPA audit fees$151,125
- Investment advisory and management fees$145,492
- Legal fees$144,664
- Total administrative expenses$2,054,544
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$4.10B · 72.3%
- Registered investment companies (mutual funds)$614M · 10.8%
- Employer securities$403M · 7.1%
- Master trust investment accounts$353M · 6.2%
- Receivables$114M · 2.0%
- Participant loans$81.8M · 1.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmErnst & Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $25,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2OESOP other than a leveraged ESOP2TTotal or partial participant-directed account plan with a default investment account3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 424210: Drugs & Druggists' Sundries.
Other plans of Cardinal Health, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Cardinal Health 401(k) Savings Plan for Employees of Puerto Rico | 823 | $63.9M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Dealer Tire LLC 401(k) Savings Plan | Dealer Tire, LLC | 7,267 | $419M | $57,718 |
| Applied Industrial Technologies, Inc. Retirement Savings Plan | Applied Industrial Technologies, Inc. | 6,525 | $936M | $143,434 |
| The Hillman Group, Inc. Retirement Savings and Profit Sharing Plan | The Hillman Group, Inc. | 4,358 | $191M | $43,828 |
| Covetrus 401(k) Retirement Savings Plan | Covetrus, Inc. | 3,825 | $290M | $75,719 |
| Reladyne LLC 401(k) Plan | Reladyne LLC | 3,765 | $173M | $45,939 |
| Park-Ohio Industries, Inc. 401(k) Retirement Plan | Park-Ohio Industries, Inc. | 3,589 | $168M | $46,795 |
Defined contribution plans in wholesale trade closest in size.
Questions and answers
How big is Cardinal Health 401(k) Savings Plan?
44,500 participants at the end of the plan year ending 31 Dec 2025, of whom 34,739 were active employees, with net assets of $5,551,488,291. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Cardinal Health, Inc. contribute per participant?
The filing reports $85,817,834 in employer contributions for the year, which is $2,470 per active participant; the median for plans of the same type and size was $2,417 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $2,017,705 in compensation to service provider organisations, $45.34 per participant or 0.04% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $2,054,544. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Cardinal Health, Inc.. Recordkeeping or administration: Principal Life Insurance Company. Investment advisory or management: Nepc, LLC. The financial statements were audited by Ernst & Young LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 30 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 31-0958666, plan 055, received 30 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.