Defined Benefit (Pension) · DOL Form 5500 · 2022

Discover Financial Services Pension Plan

Data updated 2026-08-25

$497M
Total assets Above avg plan size
2,887
Participants Above avg headcount
98th
Percentile by assets National rank
$172,308
Avg per participant Above avg balance/head
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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.

  • #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.

#8,903
in Finance & Insurance (9,261 peers)
-16.4%
assets change YoY
5.0×
vs typical plan assets (national mean)

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.

Discover Financial Services Pension Plan's outsized position by total assets

Discover Financial Services Pension Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$497,452,874 Top 2% higher than 98% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

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 Pension Plan's large-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 Pension Plan lands in the large band (2,887 participants).

Published 5500 schedule card

Filing strip 362517428 · Discover Financial Services PY 2022 · Defined Benefit (Pension)

Discover Financial Services Pension Plan · $497M · 2,887 · 98th

  • BOOK $497M
  • BOOK 2,887
  • BOOK 98th
  • BOOK Defined Benefit (Pension)
  • BOOK near IBEW Local 595 Pension Plan
  • BOOK ind #8903

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 Pension Plan in the asset neighbourhood

Ppg Industries, Inc. Retirement Plan FPpg Industries, Inc. Retirem…$498M1199seiu Home Care Employees Pension Fund1199seiu Home Care Employees…$498MDiscover Financial Services Pension PlanDiscover Financial Services …$497MIBEW Local 595 Pension Plan$497MElevance Health Cash Balance Plan BElevance Health Cash Balance…$497M
End-of-year total assets ($M) among Discover Financial Services Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2022.

Illinois filing particulars

Total Assets (Beginning of Year)$595M
Net Assets (End of Year)$497M
Net Income-$98M
Employer EIN362517428
Plan Effective Date2007-01-01
Filing StatusFILING 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
$2.5B$3B$3.5B$4B 202220232024 $2.73B $3.7B ▲ +35.5%
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 Scatter plot of 6 data points. -200000200004000060000 -1001020304050 Total assets ($B) Participants Discover Financial Services Pension Plan, Total assets ($B): 0.497452874 · Participants: 2887Discover Financial Services Pension PlanCentral States, Southeast & Southwest Areas Pension Plan, Total assets ($B): 42.629770802 · Participants: 50096Central States, Southeast & Southwest Areas Pension PlanState Farm Insurance Companies Retirement Plan for United States Employees, Total assets ($B): 32.129102809 · Participants: 49052State Farm Insurance Companies Retirement Plan for United States EmployeesUnited Food & Commercial Workers Intl Union - Industry Pension Fund, Total assets ($B): 7.958716532 · Participants: 20170United Food & Commercial Workers Intl Union - Industry Pension FundJohn Deere Pension Plan for Salaried Employees, Total assets ($B): 7.304502684 · Participants: 0John Deere Pension Plan for Salaried EmployeesAbbott Laboratories Annuity Retirement Plan, Total assets ($B): 6.770339506 · Participants: 16809Abbott Laboratories Annuity Retirement Plan
Discover Financial Services Pension Plan vs. nearby Defined Benefit (Pension) plans in Illinois, assets vs. participants
Compare Discover Financial Services Pension Plan side-by-side with 3 peers →

Discover Financial Services Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Illinois, the nearest Defined Benefit (Pension) by assets is IBEW Local 595 Pension Plan in CA ($497M); by covered participants it is Indiana Carpenters Pension Fund in MI (2,886 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($497M here).

Similar participant headcount

Nearest other-state filings by covered participants (2,887 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Discover Financial Services Pension Plan assets move in 2022? ▼
Discover Financial Services Pension Plan declined sharply - down 16.4% during 2022, from $595M to $497M. Reported net income was -$98M.
How have Discover Financial Services plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Discover Financial Services's sponsor-wide assets grew 35.1%, from $2.7B to $3.7B.
Where does Discover Financial Services Pension Plan rank by assets among Form 5500 filers? ▼
Discover Financial Services Pension Plan ranks in the 98th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top 5% of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Discover Financial Services Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is IBEW Local 595 Pension Plan in CA ($497M, 1,602 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Discover Financial Services Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Indiana Carpenters Pension Fund in MI (2,886 participants, $582M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 362517428.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.