401(k) · DOL Form 5500 · 2022
Discover Financial Services 401(k) Plan
Data updated 2026-08-25
- $2.2B
- Total assets Very large vs avg
- 16,052
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $139,342
- Avg per participant Near avg balance/head
Official DOL plan name: Discover Financial Services 401(k) Plan · Sponsored by Discover Financial Services · Illinois · Finance & Insurance
$2.2B in assets, 16,052 participants
Discover Financial Services's Discover Financial Services 401(k) Plan reported $2.2B in total assets and 16,052 participants in its 2022 DOL Form 5500 filing, ranking in the 99th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- #9,160 in Finance & Insurance (9,261 peers)
Coverage in Illinois
Discover Financial Services 401(k) Plan covers 16,052 participants in Illinois, 21x the typical Illinois plan (state average ~779 per filing). Assets: $2.2B.
- #9,160
- in Finance & Insurance (9,261 peers)
- -12.5%
- assets change YoY
- 22×
- vs typical plan assets (national mean)
The plan reported a net loss of $319M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Discover Financial Services 401(k) Plan's outsized position by total assets
Discover Financial Services 401(k) Plan vs every filed plan by assets
End-of-year total assets · plan year 2022 · DOL Form 5500
$2,236,723,322 Top 1% higher than 99% of 139,123 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022
Discover Financial Services 401(k) Plan's mega-plan peer group by participant headcount
Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Discover Financial Services 401(k) Plan is a mega filing (16,052 participants), the rightmost band on the breakdown.
Form 5500 schedule snapshot
Filing strip 362517428 · Discover Financial Services PY 2022 · 401(k)
Discover Financial Services 401(k) Plan · $2.2B · 16,052 · 99th
- TYPE $2.2B
- NET 16,052
- BOOK 99th
- VS-ST 401(k)
- BOY near Cognizant Technology Solutions 401(k) Savings Plan
- SCH ind #9160
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Illinois →
Discover Financial Services 401(k) Plan in the asset neighbourhood
Illinois filing particulars
| Total Assets (Beginning of Year) | $2.6B |
|---|---|
| Net Assets (End of Year) | $2.2B |
| Net Income | -$319M |
| Employer EIN | 362517428 |
| Plan Effective Date | 2007-07-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Discover Financial Services)
Sponsor-wide plan assets over time
All Discover Financial Services plans reported in each filing year
- Latest sponsor-wide plan assets
- $3.7B 35.14873585710934% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 18,939 | $2.7B |
| 2023 | 2 | 22,274 | $3.3B |
| 2024 | 2 | 22,935 | $3.7B |
Nearby 401(k) Plans in Illinois
Peer 401(k) plans, same state, same plan type, ranked by total assets.
- State Farm 401(k) Savings Plan $14.7B · 53,616
- Accenture United States 401(k) Match and Savings Plan $14.3B · 66,653
- Abbott Laboratories Stock Retirement Plan $13.3B · 36,136
- United Airlines Pilot Retirement Account Plan $11.8B · 13,437
- Walgreens Retirement Savings Plan $11.7B · 238,072
Scale composition for Discover Financial Services 401(k) Plan
Discover Financial Services 401(k) Plan reports $2.2B in end-of-year assets across 16,052 participants (0.018% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.017% of 93,925,755 covered participants) - about $139,342 per participant (1.0x the national average assets-per-participant) . Net income for plan year 2022 was -$319M.
This plan identity (EIN 362517428, plan #003) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $2.2B to $3.2B (+43.6%) while covered participants moved from 16,052 to 20,344 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 16,052 | $2.2B | This page |
| 2023 | 19,535 | $2.8B | Open filing |
| 2024 · index core | 20,344 | $3.2B | Open filing |
The same sponsor also keeps 2 other index-core plans on PlainRetire:
- Discover Financial Services 401(k) Plan (401(k), $3.2B, 20,344 participants)
- Discover Financial Services Pension Plan (Defined Benefit (Pension), $483M, 2,591 participants)
Discover Financial Services 401(k) Plan's out-of-state 401(k) peers by assets and headcount
Outside Illinois, the nearest 401(k) by assets is Cognizant Technology Solutions 401(k) Savings Plan in NJ ($2.2B); by covered participants it is The Brightview 401(k) Plan in PA (16,091 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($2.2B here).
- Cognizant Technology Solutions 401(k) Savings Plan (NJ) $2.2B · 33,944
- The Kroger Co. Savings Plan (OH) $2.2B · 209,608
- Hearst Retirement Savings Plan (NC) $2.2B · 10,500
- Corebridge Financial, Inc. Retirement Savings 401(k) Plan (TX) $2.3B · 7,056
Similar participant headcount
Nearest other-state filings by covered participants (16,052 participants); asset peers above are excluded.
- The Brightview 401(k) Plan (PA) 16,091 · 39 off
- Cornerstone Building Brands 401(k) Profit Sharing Plan (TX) 16,000 · 52 off
- Ntt Data Americas 401(k) Plan (TX) 16,106 · 54 off
- Harbor Freight Tools Retirement Savings Plan (CA) 16,123 · 71 off
DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.