401(k) · DOL Form 5500 · 2023

Navy Federal Credit Union 401(k) Plan

Data updated 2026-08-06

$2.6B
Total assets
22,916
Participants
99th
Percentile by assets
$114,344
Avg per participant
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Official DOL plan name: Navy Federal 401(k) Savings Plan · Sponsored by Navy Federal Credit Union · Virginia · Finance & Insurance

$2.6B in assets, 22,916 participants

Navy Federal Credit Union's Navy Federal 401(k) Savings Plan reported $2.6B in total assets and 22,916 participants in its 2023 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.

  • 99th percentile by assets (of 126,618 plans)
  • #8,753 in Finance & Insurance (8,852 peers)

Coverage in Virginia

Navy Federal 401(k) Savings Plan covers 22,916 participants in Virginia, 29x the typical Virginia plan (state average ~781 per filing). Assets: $2.6B.

$2.6B
total plan assets (2023 EOY)
22,916
covered participants
99th
percentile by assets (of 126,618 plans)
$114,344
avg assets per participant

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Navy Federal 401(k) Savings Plan reported net income rose from -$242M in the plan year 2022 filing to $609M in the plan year 2023 filing.
  • Navy Federal 401(k) Savings Plan end-of-year assets rose from $2.0B in the plan year 2022 filing to $2.6B in the plan year 2023 filing.
  • Navy Federal 401(k) Savings Plan reported participants rose from 20,588 in the plan year 2022 filing to 22,916 in the plan year 2023 filing.

See the national 2023→2024 release diff →

State
Virginia
Industry
Finance & Insurance

Participants vs Virginia filers

In Virginia, the average filing covers about 781 participants across 3,490 plans. Navy Federal 401(k) Savings Plan reports 22,916 participants - 29x that state average ($2.6B EOY assets).

Virginia filing particulars

Total Assets (Beginning of Year)$2.0B
Net Assets (End of Year)$2.6B
Net Income$609M
Employer EIN530116705
Plan Effective Date1997-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Navy Federal Credit Union)

$3.5B$4B$4.5B$5B$5.5B 202220232024 $3.8B $5.3B ▲ +39.5%
Total plan assets by year, all Navy Federal Credit Union plans on file
Year Plans Participants Total Assets
2022 2 36,876 $3.8B
2023 2 39,410 $4.7B
2024 3 43,030 $5.3B

Nearby 401(k) Plans in Virginia

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Navy Federal 401(k) Savings Plan vs. nearby 401(k) plans in Virginia, assets vs. participants

Navy Federal 401(k) Savings Plan vs. nearby 401(k) plans in Virginia, assets vs. participants Scatter plot of 6 data points. 020000400006000080000100000120000 010203040 Total assets ($B) Participants Navy Federal 401(k) …Northrop Grumman Sav…401(k) Pension PlanGeneral Dynamics Cor…Leidos, Inc. Retirem…Bae Systems Employee…
Navy Federal 401(k) Savings Plan vs. nearby 401(k) plans in Virginia, assets vs. participants
Compare Navy Federal 401(k) Savings Plan side-by-side with 3 peers →

Scale composition for Navy Federal 401(k) Savings Plan

Navy Federal 401(k) Savings Plan reports $2.6B in end-of-year assets across 22,916 participants (0.023% of the $11.6T held by all Form 5500 filers in the national rollup , and 0.026% of 89,805,449 covered participants) - about $114,344 per participant (83% of the national average assets-per-participant) . Net income for plan year 2023 was $609M.

This plan identity (EIN 530116705, plan #002) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $2.0B to $3.2B (+59.4%) while covered participants moved from 20,588 to 24,276 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 20,588 $2.0B Open filing
2023 22,916 $2.6B This page
2024 · index core 24,276 $3.2B Open filing

The same sponsor also keeps 2 other index-core plans on PlainRetire:

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Navy Federal 401(k) Savings Plan by total assets, not by location.

Frequently Asked Questions

How did Navy Federal 401(k) Savings Plan assets move in 2023? ▼
Navy Federal 401(k) Savings Plan surged - up 30.3% during 2023, from $2.0B to $2.6B. Reported net income was $609M.
How have Navy Federal Credit Union plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Navy Federal Credit Union's sponsor-wide assets grew 39.5%, from $3.8B to $5.3B.
Where does Navy Federal 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
Navy Federal 401(k) Savings Plan ranks in the 99th percentile by end-of-year assets among 126,618 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which 401(k) plans are similar in size to Navy Federal 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Geisinger System Services 401(k) Savings Plan in PA ($2.6B, 23,124 participants).

Next read for Navy Federal 401(k) Savings Plan

Filing takeaways

Ways to act on Navy Federal 401(k) Savings Plan's numbers.

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 530116705.

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.