Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Discover Financial Services
Discover Financial Services 401(k)
- Finance and insurance
- Riverwoods, IL
- EIN 36-2517428
- 1 plan with Schedule H financials
- Plan year 2024
Total assets, end of year · Discover Financial Services 401(k) Plan · plan year 2024
$3,212,387,200
26,671 participants with a balance. This filing reports no recordkeeping fee and no administrative expenses excluding investment management, so there is no headline cost figure.
Source
Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251006083617NAL0001926915001, received 2025-10-06
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251006083617NAL0001926915001, received 2025-10-06
Percentiles compare this plan with the Schedule H plans over $1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-06.
Cost and contributions
Administrative expenses excluding investment management, per participant
$0.00
Fewer than 50 comparable plans report this figure; no percentile.
Source
= $0 / 26,671
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251006083617NAL0001926915001, received 2025-10-06
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251006083617NAL0001926915001, received 2025-10-06
Administrative expenses per participant
$88.32
Higher than 64% of the 1,076 plans over $1B that report it.
Source
= $2,355,465 / 26,671
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251006083617NAL0001926915001, received 2025-10-06
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251006083617NAL0001926915001, received 2025-10-06
Administrative expenses as a share of assets
0.073%
Higher than 74% of the 1,076 plans over $1B that report it.
Source
= $2,355,465 / $3,212,387,200
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251006083617NAL0001926915001, received 2025-10-06
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251006083617NAL0001926915001, received 2025-10-06
Employer contributions per participant
$4,915
Higher than 66% of the 1,135 plans over $1B that report it.
Source
= $131,076,331 / 26,671
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251006083617NAL0001926915001, received 2025-10-06
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251006083617NAL0001926915001, received 2025-10-06
Employer share of total contributions
43.5%
Higher than 82% of the 1,135 plans over $1B that report it.
Source
= $131,076,331 / $301,207,215
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251006083617NAL0001926915001, received 2025-10-06
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251006083617NAL0001926915001, received 2025-10-06
Plan terms, as stated in Discover Financial Services's SEC filings
Plan terms are described in Discover Financial Services's SEC filings: Form 10-K filed 2025-02-20. No term could be quoted from them with the required precision.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3F · 3H controlled-group sponsor · 3J · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251006083617NAL0001926915001, received 2025-10-06
Full record, Discover Financial Services 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | DISCOVER FINANCIAL SERVICES | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Plan name | DISCOVER FINANCIAL SERVICES 401K PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Sponsor EIN / plan number | 36-2517428 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Sponsor location | RIVERWOODS, IL | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Industry (business code) | 522210, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Filing received | 2025-10-06 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Participants, beginning of year | 27,661 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Active participants | 20,237 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Participants, end of year | 27,261 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Participants with an account balance | 26,671 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total assets, beginning of year | $2,759,344,377 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total assets, end of year | $3,212,387,200 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Net assets, end of year | $3,209,189,364 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total income | $682,742,678 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Net income | $458,818,509 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Employer contributions | $131,076,331 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Participant contributions | $144,949,152 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Other contributions (incl. rollovers) | $25,181,732 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total contributions | $301,207,215 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Benefit payments | $221,590,832 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total expenses (incl. benefit payments) | $223,924,169 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Total administrative expenses | $2,355,465 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Investment advisory and management fees | $2,355,465 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Administrative expenses excluding investment management | $0 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Held in common/collective trusts | $2,986,331,882 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Held in mutual funds | $122,555,647 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251006083617NAL0001926915001, received 2025-10-06 |
| Independent auditor | CROWE LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251006083617NAL0001926915001, received 2025-10-06 |
Position = column in the DOL layout for form year 2024. Filing 20251006083617NAL0001926915001, received 2025-10-06.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| STATE STREET GLOBAL ADVISORS | NONE | 18 Custodial (other than securities); 19 Custodial (securities); 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 52 Investment management fees paid indirectly by plan | $2,184,428 | yes |
| JP MORGAN FUNDS SERVICES | NONE | 27 Investment advisory (plan); 28 Investment management; 50 Direct payment from the plan | $115,550 | no |
| LOOMIS, SAYLES & COMPANY | NONE | 28 Investment management; 50 Direct payment from the plan; 52 Investment management fees paid indirectly by plan; 68 Soft dollars commissions | $45,779 | yes |
| INVESCO STABLE VAL | NONE | 26 Investment advisory (participants); 50 Direct payment from the plan | $7,618 | no |
| DIMENSIONAL FUNDS ADVISORS LP | NONE | 27 Investment advisory (plan); 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 52 Investment management fees paid indirectly by plan | $1,124 | yes |
| DODGE AND COX | NONE | 28 Investment management; 50 Direct payment from the plan; 68 Soft dollars commissions | $637 | yes |
| PIMCO | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 52 Investment management fees paid indirectly by plan | $295 | yes |
| ALIGHT SOLUTIONS LLCrecordkeeper | NONE | 15 Recordkeeping and information management; 99 Other fees | $0 | yes |
| SEI TRUST COMPANY - ROTHSCHLID | NONE | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 52 Investment management fees paid indirectly by plan | $0 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251006083617NAL0001926915001, received 2025-10-06.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $2,759,344,377 | $3,212,387,200 | 16.4% |
| Participants with a balance | 26,786 | 26,671 | -0.4% |
| Administrative expenses | $2,283,101 | $2,355,465 | 3.2% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $124,533,007 | $131,076,331 | 5.3% |
Prior filing 20241007121914NAL0007562067001, received 2024-10-07; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: DISCOVER FINANCIAL SERVICES; SEC registrant: Discover Financial Services (CIK 1393612, matched by EIN; display name from the Form 10-K cover).