401(k) · DOL Form 5500 · 2023
Carmax, Inc. 401(k) Plan
Data updated 2026-08-25
- $1.5B
- Total assets Very large vs avg
- 31,272
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $48,893
- Avg per participant Low balance/head
Official DOL plan name: Carmax, Inc. Retirement Savings Plan · Sponsored by Carmax, Inc. · Virginia · Retail Trade
$1.5B in assets, 31,272 participants
Carmax, Inc.'s Carmax, Inc. Retirement Savings Plan reported $1.5B in total assets and 31,272 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.
- #8,365 in Retail Trade (8,414 peers)
Coverage in Virginia
Carmax, Inc. Retirement Savings Plan covers 31,272 participants in Virginia, 40x the typical Virginia plan (state average ~782 per filing). Assets: $1.5B.
- #8,365
- in Retail Trade (8,414 peers)
- +26.5%
- assets growth YoY
- 15×
- vs typical plan assets (national mean)
Carmax, Inc. Retirement Savings Plan's outsized position by total assets
Carmax, Inc. Retirement Savings Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$1,528,978,894 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
Carmax, Inc. Retirement Savings 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. Carmax, Inc. Retirement Savings Plan is a mega filing (31,272 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Carmax, Inc. Retirement Savings Plan reported net income rose from -$157M in the plan year 2022 filing to $320M in the plan year 2023 filing.
- Carmax, Inc. Retirement Savings Plan end-of-year assets rose from $1.2B in the plan year 2022 filing to $1.5B in the plan year 2023 filing.
- Carmax, Inc. Retirement Savings Plan reported participants rose from 30,993 in the plan year 2022 filing to 31,272 in the plan year 2023 filing.
Form 5500 schedule snapshot
Filing strip 541821055 · Carmax, Inc. PY 2023 · 401(k)
Carmax, Inc. Retirement Savings Plan · $1.5B · 31,272 · 99th
- VS-ST $1.5B
- BOY 31,272
- SCH 99th
- EBSA 401(k)
- PART near Lockheed Martin Corporation Hourly Employee Savings Plan Plus
- TYPE ind #8365
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 Retail Trade retirement plans → · Plans in Virginia →
Carmax, Inc. Retirement Savings Plan in the asset neighbourhood
Virginia filing particulars
| Total Assets (Beginning of Year) | $1.2B |
|---|---|
| Net Assets (End of Year) | $1.5B |
| Net Income | $320M |
| Employer EIN | 541821055 |
| Plan Effective Date | 2002-10-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Carmax, Inc.)
Sponsor-wide plan assets over time
All Carmax, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $2.0B 44.40817744716891% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 33,895 | $1.4B |
| 2023 | 2 | 34,013 | $1.7B |
| 2024 | 2 | 32,246 | $2.0B |
Nearby 401(k) Plans in Virginia
Peer 401(k) plans, same state, same plan type, ranked by total assets.
- Northrop Grumman Savings Plan $36.2B · 97,987
- 401(k) Pension Plan $15.0B · 62,467
- General Dynamics Corporation 401(k) Plan 6.0 $11.2B · 48,860
- Leidos, Inc. Retirement Plan $10.6B · 27,043
- Bae Systems Employees' Savings and Investment Plan $9.4B · 31,681
Scale composition for Carmax, Inc. Retirement Savings Plan
Carmax, Inc. Retirement Savings Plan reports $1.5B in end-of-year assets across 31,272 participants (0.012% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.033% of 93,925,755 covered participants) - about $48,893 per participant (35% of the national average assets-per-participant) . Net income for plan year 2023 was $320M.
This plan identity (EIN 541821055, plan #003) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $1.2B to $1.8B (+49.9%) while covered participants moved from 30,993 to 29,683 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 30,993 | $1.2B | Open filing |
| 2023 | 31,272 | $1.5B | This page |
| 2024 · index core | 29,683 | $1.8B | Open filing |
The same sponsor also keeps 2 other index-core plans on PlainRetire:
- Carmax, Inc. Retirement Savings Plan (401(k), $1.8B, 29,683 participants)
- Carmax, Inc. Pension Plan (Defined Benefit (Pension), $199M, 2,563 participants)
Carmax, Inc. Retirement Savings Plan's out-of-state 401(k) peers by assets and headcount
Outside Virginia, the nearest 401(k) by assets is Lockheed Martin Corporation Hourly Employee Savings Plan Plus in MD ($1.5B); by covered participants it is Ochsner Clinic Foundation 401(k) Plan in LA (31,221 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($1.5B here).
- Lockheed Martin Corporation Hourly Employee Savings Plan Plus (MD) $1.5B · 15,472
- Masco Corporation 401(k) Plan (MI) $1.5B · 8,816
- American Red Cross Savings Plan (DC) $1.5B · 17,322
- Jm Family Associates' Profit Sharing and 401(k) Plan (FL) $1.5B · 3,902
Similar participant headcount
Nearest other-state filings by covered participants (31,272 participants); asset peers above are excluded.
- Ochsner Clinic Foundation 401(k) Plan (LA) 31,221 · 51 off
- Spectrum Health System 403(b) Plan (MI) 31,443 · 171 off
- Quanta Services, Inc. 401(k) Savings Plan (TX) 30,951 · 321 off
- Prime Healthcare Services, Inc. 401(k) Plan (CA) 31,705 · 433 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.