401(k) · DOL Form 5500 · 2024
Discover Financial Services 401(k) Plan
Data updated 2026-08-25
- $3.2B
- Total assets Very large vs avg
- 20,344
- Participants Very large workforce
- 100th
- Percentile by assets National rank
- $157,903
- Avg per participant Above avg balance/head
Official DOL plan name: Discover Financial Services 401(k) Plan · Sponsored by Discover Financial Services · Illinois · Finance & Insurance
$3.2B in assets, 20,344 participants
Discover Financial Services's Discover Financial Services 401(k) Plan reported $3.2B in total assets and 20,344 participants in its 2024 DOL Form 5500 filing, ranking in the 100th 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.
- #8,462 in Finance & Insurance (8,549 peers)
Coverage in Illinois
Discover Financial Services 401(k) Plan covers 20,344 participants in Illinois, 26x the typical Illinois plan (state average ~779 per filing). Assets: $3.2B.
- #8,462
- in Finance & Insurance (8,549 peers)
- +16.4%
- assets growth YoY
- 32×
- 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 2024 · DOL Form 5500
$3,212,387,200 Highest reported value at or above every one of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
Discover Financial Services 401(k) Plan's mega-plan peer group by participant headcount
Plan-year 2024 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 (20,344 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Discover Financial Services 401(k) Plan end-of-year assets rose from $2.8B in the plan year 2023 filing to $3.2B in the plan year 2024 filing.
- Discover Financial Services 401(k) Plan reported net income fell from $522M in the plan year 2023 filing to $459M in the plan year 2024 filing.
- Discover Financial Services 401(k) Plan reported participants rose from 19,535 in the plan year 2023 filing to 20,344 in the plan year 2024 filing.
EBSA filing schedule strip
Filing strip 362517428 · Discover Financial Services PY 2024 · 401(k)
Discover Financial Services 401(k) Plan · $3.2B · 20,344 · 100th
- IND $3.2B
- EOY 20,344
- 5500 100th
- ASSETS 401(k)
- PCT near Ameren Corporation Savings Investment Plan
- EIN ind #8462
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) | $2.8B |
|---|---|
| Net Assets (End of Year) | $3.2B |
| Net Income | $459M |
| 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 and Savings Plan $21.3B · 66,965
- State Farm 401(k) Savings Plan $19.0B · 63,297
- United Airlines Pilot Retirement Account Plan $16.8B · 16,659
- Abbott Laboratories Stock Retirement Plan $15.8B · 38,229
- Walgreens Retirement Savings Plan $14.5B · 233,635
Scale composition for Discover Financial Services 401(k) Plan
Discover Financial Services 401(k) Plan reports $3.2B in end-of-year assets across 20,344 participants (0.026% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.022% of 93,925,755 covered participants) - about $157,903 per participant (1.1x the national average assets-per-participant) . Net income for plan year 2024 was $459M.
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 | Open filing |
| 2024 · index core | 20,344 | $3.2B | This page |
The same sponsor also keeps 1 other index-core plan on PlainRetire:
- 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 Ameren Corporation Savings Investment Plan in MO ($3.2B); by covered participants it is The Savings and Investment Plan in NY (20,348 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($3.2B here).
- Ameren Corporation Savings Investment Plan (MO) $3.2B · 9,504
- Navy Federal 401(k) Savings Plan (VA) $3.2B · 24,276
- The Rite Aid 401(k) Plan (PA) $3.2B · 28,313
- Trader Joe's Company Retirement Plan (CA) $3.2B · 63,666
Similar participant headcount
Nearest other-state filings by covered participants (20,344 participants); asset peers above are excluded.
- The Savings and Investment Plan (NY) 20,348 · 4 off
- Sunbelt Rentals, Inc. Retirement Savings Plan (SC) 20,374 · 30 off
- Zhi 401(k) Retirement Savings Plan (TX) 20,291 · 53 off
- Harbor Freight Tools Retirement Savings Plan (CA) 20,418 · 74 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.