DFS Group 401(k) match, vesting and fees
What DFS Group's 401(k) plan says about matching contributions
• Partnerships’ Matching Contribution – For every dollar a participant contributes, the Partnerships will make a match contribution equal to 100% of the first 3% of basic compensation contributed and 50% of the next 3% of basic compensation contributed.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 27 ↗ |
| Match vesting | In addition, participants are 20% vested in the Partnerships’ contributions after one year of service, with graduated 20% increases in their vested percentage thereafter, culminating in 100% vesting after five years of service. Participants’ accounts that do not become fully vested under the circumstances described above will be forfeited. Forfeitures are applied to reduce the amount otherwise payable by the Partnerships as their contribution and to pay for administrative expenses of the Plan. At December 31, 2024 and 2023, the amounts of unallocated forfeitures available to offset future Partnerships’ contributions and pay for administrative expenses were approximately $84,000 and $75,000, respectively. Forfeitures used for contributions and administrative expenses in 2024 were approximately $225,000 and $40,000, respectively. | Audit report, p. 29 ↗ |
| Automatic enrollment | The Company has an automatic enrollment feature for new hires and rehires. Unless otherwise elected, those eligible will be automatically enrolled into the Plan at a before-tax rate of 6% of compensation. | Audit report, p. 27 ↗ |
| Roth contributions | • Voluntary and Roth 401(k) Contributions – These contributions are made on an after-tax basis. Participants may contribute any whole percentage of their basic compensation that does not exceed 80%. | Audit report, p. 27 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Kkdly LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 479 defined-contribution plans in retail trade with 1,000 to 4,999 participants.
| DFS Group: employer contribution per participant | $1,615 | |
| Peer median | $1,023 |
| DFS Group: average balance | $109,565 | |
| Peer median | $43,395 |
| DFS Group: admin expenses ÷ assets | 0.05% | |
| Peer median | 0.23% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $209M at the end of plan year 2023 to $230M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 2,142 | $230M | $3.4M | $1,615 | 0.05% | Quoted in the audit report, p. 27 ↗ | Form 5500 ↗ |
| 2023 | 2,196 | $209M | $2.7M | $1,245 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does DFS Group match 401(k) contributions?
The audit report attached to the Dfs Retirement Plan's plan year 2024 Form 5500, page 27 says: “• Partnerships’ Matching Contribution – For every dollar a participant contributes, the Partnerships will make a match contribution equal to 100% of the first 3% of basic compensation contributed and 50% of the next 3% of basic compensation contributed.” Plan terms may have changed; check your current Summary Plan Description.
When is the DFS Group 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “In addition, participants are 20% vested in the Partnerships’ contributions after one year of service, with graduated 20% increases in their vested percentage thereafter, culminating in 100% vesting after five years of service. Participants’ accounts that do not become fully vested under the circumstances described above will be forfeited. Forfeitures are applied to reduce the amount otherwise payable by the Partnerships as their contribution and to pay for administrative expenses of the Plan. At December 31, 2024 and 2023, the amounts of unallocated forfeitures available to offset future Partnerships’ contributions and pay for administrative expenses were approximately $84,000 and $75,000, respectively. Forfeitures used for contributions and administrative expenses in 2024 were approximately $225,000 and $40,000, respectively.”
Who manages the DFS Group 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Dfs Group Limited.
I left DFS Group. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Dfs Group Limited, (866) 361-4636) or the recordkeeper, Fidelity Investments Institutional. The DFS Group old 401(k) page lists the contacts from every plan filing. Find an old DFS Group 401(k)
Data from the public Form 5500 annual reports DFS Group filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with DFS Group. Not financial advice. Report a correction · Methodology