401(k) · DOL Form 5500 · 2023
Discover Financial Services 401(k) Plan
Data updated 2026-08-25
- $2.8B
- Total assets Very large vs avg
- 19,535
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $141,251
- 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
$2.8B in assets, 19,535 participants
Discover Financial Services's Discover Financial Services 401(k) Plan reported $2.8B in total assets and 19,535 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.
- #8,774 in Finance & Insurance (8,869 peers)
Coverage in Illinois
Discover Financial Services 401(k) Plan covers 19,535 participants in Illinois, 25x the typical Illinois plan (state average ~779 per filing). Assets: $2.8B.
- #8,774
- in Finance & Insurance (8,869 peers)
- +23.4%
- assets growth YoY
- 28×
- vs typical plan assets (national mean)
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 2023 · DOL Form 5500
$2,759,344,377 Top 1% higher than 99% of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Discover Financial Services 401(k) Plan's mega-plan peer group by participant headcount
Plan-year 2023 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 (19,535 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Discover Financial Services 401(k) Plan reported net income rose from -$319M in the plan year 2022 filing to $522M in the plan year 2023 filing.
- Discover Financial Services 401(k) Plan end-of-year assets rose from $2.2B in the plan year 2022 filing to $2.8B in the plan year 2023 filing.
- Discover Financial Services 401(k) Plan reported participants rose from 16,052 in the plan year 2022 filing to 19,535 in the plan year 2023 filing.
Form 5500 schedule snapshot
Filing strip 362517428 · Discover Financial Services PY 2023 · 401(k)
Discover Financial Services 401(k) Plan · $2.8B · 19,535 · 99th
- EBSA $2.8B
- PART 19,535
- TYPE 99th
- NET 401(k)
- BOOK near Boehringer Ingelheim USA Corporation & Its Affiliates Retirement Savings Plan
- VS-ST ind #8774
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) | $2.2B |
|---|---|
| Net Assets (End of Year) | $2.8B |
| Net Income | $522M |
| 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.
- Accenture United States 401(k) Match Savings Plan $17.6B · 69,974
- State Farm 401(k) Savings Plan $16.9B · 60,246
- Abbott Laboratories Stock Retirement Plan $14.5B · 38,012
- United Airlines Pilot Retirement Account Plan $14.4B · 14,959
- Walgreens Retirement Savings Plan $13.4B · 235,331
Scale composition for Discover Financial Services 401(k) Plan
Discover Financial Services 401(k) Plan reports $2.8B in end-of-year assets across 19,535 participants (0.022% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.021% of 93,925,755 covered participants) - about $141,251 per participant (1.0x the national average assets-per-participant) . Net income for plan year 2023 was $522M.
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 | Open filing |
| 2023 | 19,535 | $2.8B | This page |
| 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 Boehringer Ingelheim USA Corporation & Its Affiliates Retirement Savings Plan in CT ($2.8B); by covered participants it is Fifth Third Bancorp 401(k) Savings Plan in OH (19,559 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($2.8B here).
- Boehringer Ingelheim USA Corporation & Its Affiliates Retirement Savings Plan (CT) $2.8B · 8,467
- Trader Joe's Company Retirement Plan (CA) $2.8B · 57,617
- Cognizant Technology Solutions 401(k) Savings Plan (NJ) $2.7B · 74,792
- The Estee Lauder Companies 401(k) Savings Plan (NY) $2.7B · 12,114
Similar participant headcount
Nearest other-state filings by covered participants (19,535 participants); asset peers above are excluded.
- Fifth Third Bancorp 401(k) Savings Plan (OH) 19,559 · 24 off
- Whirlpool 401(k) Retirement Plan (MI) 19,575 · 40 off
- United Rentals 401(k) Investment Plan (CT) 19,605 · 70 off
- Intuit Inc. 401(k) Plan (CA) 19,607 · 72 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.