Defined Benefit (Pension) · DOL Form 5500 · 2022
Discover Financial Services Pension Plan
Data updated 2026-08-11
- $497M
- Total assets
- 2,887
- Participants
- 98th
- Percentile by assets
- $172,308
- Avg per participant
Official DOL plan name: Discover Financial Services Pension Plan · Sponsored by Discover Financial Services · Illinois · Finance & Insurance
$497M in assets, 2,887 participants
Discover Financial Services's Discover Financial Services Pension Plan reported $497M in total assets and 2,887 participants in its 2022 DOL Form 5500 filing, ranking in the 98th 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.
- 98th percentile by assets (of 139,126 plans)
- #8,903 in Finance & Insurance (9,261 peers)
Coverage in Illinois
Discover Financial Services Pension Plan covers 2,887 participants in Illinois, 3.7x the typical Illinois plan (state average ~779 per filing). Assets: $497M.
- $497M
- total plan assets (2022 EOY)
- 2,887
- covered participants
- 98th
- percentile by assets (of 139,126 plans)
- $172,308
- avg assets per participant
The plan reported a net loss of $98M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Participants vs Illinois filers
In Illinois, the average filing covers about 779 participants across 5,745 plans. Discover Financial Services Pension Plan reports 2,887 participants - 3.7x that state average ($497M EOY assets).
Illinois filing particulars
| Total Assets (Beginning of Year) | $595M |
|---|---|
| Net Assets (End of Year) | $497M |
| Net Income | -$98M |
| Employer EIN | 362517428 |
| Plan Effective Date | 2007-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Discover Financial Services)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 18,939 | $2.7B |
| 2023 | 2 | 22,274 | $3.3B |
| 2024 | 2 | 22,935 | $3.7B |
Nearby Defined Benefit (Pension) Plans in Illinois
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
Discover Financial Services Pension Plan vs. nearby Defined Benefit (Pension) plans in Illinois, assets vs. participants
- Central States, Southeast & Southwest Areas Pension Plan $42.6B · 50,096
- State Farm Insurance Companies Retirement Plan for United States Employees $32.1B · 49,052
- United Food & Commercial Workers Intl Union - Industry Pension Fund $8.0B · 20,170
- John Deere Pension Plan for Salaried Employees $7.3B · N/A
- Abbott Laboratories Annuity Retirement Plan $6.8B · 16,809
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Discover Financial Services Pension Plan by total assets, not by location.
- IBEW Local 595 Pension Plan (CA) $497M · 1,602
- Ppg Industries, Inc. Retirement Plan F (PA) $498M · N/A
- 1199seiu Home Care Employees Pension Fund (NY) $498M · 38,318
- Elevance Health Cash Balance Plan B (IN) $497M · 773
Frequently Asked Questions
How did Discover Financial Services Pension Plan assets move in 2022? ▼
How have Discover Financial Services plan assets changed over time? ▼
Where does Discover Financial Services Pension Plan rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to Discover Financial Services Pension Plan? ▼
Next read for Discover Financial Services Pension Plan
Filing takeaways
Ways to act on Discover Financial Services Pension Plan's numbers.
- By total assets, Discover Financial Services Pension Plan ranks in the top 5% of all filed plans by assets. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in Illinois. Compare plans
- Discover Financial Services's sponsor-wide assets have grown 35.1% since 2022 across 3 plan years on file. More Finance & Insurance plans