Defined Benefit (Pension) · DOL Form 5500 · 2024
Discover Financial Services Pension Plan
Data updated 2026-08-11
- $483M
- Total assets
- 2,591
- Participants
- 97th
- Percentile by assets
- $186,344
- Avg per participant
Official DOL plan name: Discover Financial Services Pension Plan · Sponsored by Discover Financial Services · Illinois · Finance & Insurance
$483M in assets, 2,591 participants
Discover Financial Services's Discover Financial Services Pension Plan reported $483M in total assets and 2,591 participants in its 2024 DOL Form 5500 filing, ranking in the 97th 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.
- 97th percentile by assets (of 123,622 plans)
- #8,110 in Finance & Insurance (8,549 peers)
Coverage in Illinois
Discover Financial Services Pension Plan covers 2,591 participants in Illinois, 3.3x the typical Illinois plan (state average ~779 per filing). Assets: $483M.
- $483M
- total plan assets (2024 EOY)
- 2,591
- covered participants
- 97th
- percentile by assets (of 123,622 plans)
- $186,344
- avg assets per participant
The plan reported a net loss of $36M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Discover Financial Services Pension Plan reported net income fell from $21M in the plan year 2023 filing to -$36M in the plan year 2024 filing.
- Discover Financial Services Pension Plan end-of-year assets fell from $518M in the plan year 2023 filing to $483M in the plan year 2024 filing.
- Discover Financial Services Pension Plan reported participants fell from 2,739 in the plan year 2023 filing to 2,591 in the plan year 2024 filing.
Participants vs Illinois filers
In Illinois, the average filing covers about 779 participants across 5,745 plans. Discover Financial Services Pension Plan reports 2,591 participants - 3.3x that state average ($483M EOY assets).
Illinois filing particulars
| Total Assets (Beginning of Year) | $518M |
|---|---|
| Net Assets (End of Year) | $482M |
| Net Income | -$36M |
| 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 $48.2B · 36,799
- State Farm Insurance Companies Retirement Plan for United States Employees $37.7B · 41,619
- GE Healthcare Pension Plan $13.7B · 5,554
- Abbott Laboratories Annuity Retirement Plan $8.6B · 17,875
- United Food & Commercial Workers Intl Union - Industry Pension Fund $8.2B · 20,984
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.
- Employees Retirement Plan of Hajoca Corporation (PA) $483M · 5,106
- Albemarle Corporation Represented Pension Plan (NC) $482M · 158
- Associated Banc-Corp Retirement Account Plan (WI) $482M · 3,607
- Huntsman Defined Benefit Pension Plan (TX) $484M · 484
Frequently Asked Questions
How did Discover Financial Services Pension Plan assets move in 2024? ▼
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