Hy-Vee 401(k) match, vesting and fees
What Hy-Vee's 401(k) plan says about matching contributions
The Company may make a matching contribution equal to a percentage determined by the Company not to exceed 100% of the participant’s elective deferral contribution. For the year ended September 28, 2025, the employer match was 50% of the first 7% of the participant’s compensation that was deferred.
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. 34 ↗ |
| Match vesting | Vesting: Participants are immediately vested in their elective contributions plus earnings thereon. Effective September 28, 2020, all participants actively employed on that date became immediately vested in Company matching and discretionary contributions. Participants who terminated before that date continue under the prior graded vesting schedule. Individuals who entered the Plan through a merger retain their former plan’s vesting provisions. All other participants entering the Plan after that date are immediately vested. | Audit report, p. 35 ↗ |
| Automatic enrollment | The Plan provides an automatic election of 3% of compensation for all newly hired eligible full-time or regular-time employees, part-time employees who are age 25 or older at the time of hire or rehire or who are promoted to full-time or regular-time, or a regular-time employee promoted to full-time. The automatic elective deferral contribution automatically increases on or after each October 1 by 2% up to a maximum automatic elective deferral contribution of 10%. | Audit report, p. 34 ↗ |
| Loans | Notes receivable from participants: Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 reduced by the highest outstanding note receivable balance in the previous year or 50% of their vested account balance. | Audit report, p. 35 ↗ |
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Rsm US LLP (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 22 defined-contribution plans in retail trade with 50,000 or more participants.
| Hy-Vee: employer contribution per participant | $669 | |
| Peer median | $1,179 |
| Hy-Vee: average balance | $54,407 | |
| Peer median | $58,043 |
| Hy-Vee: admin expenses ÷ assets | 0.11% | |
| Peer median | 0.09% |
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 $2.9B at the end of plan year 2023 to $3.1B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 75,634 | $3.1B | $38.2M | $669 | 0.11% | Quoted in the audit report, p. 34 ↗ | Form 5500 ↗ |
| 2023 | 75,584 | $2.9B | $36.7M | $644 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Hy-Vee match 401(k) contributions?
The audit report attached to the The Hy-Vee and Affiliates 401(k) Plan's plan year 2024 Form 5500, page 34 says: “The Company may make a matching contribution equal to a percentage determined by the Company not to exceed 100% of the participant’s elective deferral contribution. For the year ended September 28, 2025, the employer match was 50% of the first 7% of the participant’s compensation that was deferred.” Plan terms may have changed; check your current Summary Plan Description.
When is the Hy-Vee 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 35 says: “Vesting: Participants are immediately vested in their elective contributions plus earnings thereon. Effective September 28, 2020, all participants actively employed on that date became immediately vested in Company matching and discretionary contributions. Participants who terminated before that date continue under the prior graded vesting schedule. Individuals who entered the Plan through a merger retain their former plan’s vesting provisions. All other participants entering the Plan after that date are immediately vested.”
Who manages the Hy-Vee 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Hy-Vee, Inc..
I left Hy-Vee. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Hy-Vee, Inc., (515) 267-2800) or the recordkeeper, Principal Life Insurance Company. The Hy-Vee old 401(k) page lists the contacts from every plan filing. Find an old Hy-Vee 401(k)
Data from the public Form 5500 annual reports Hy-Vee 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 Hy-Vee. Not financial advice. Report a correction · Methodology