Rite Aid 401(k) match, vesting and fees
What Rite Aid's 401(k) plan says about matching contributions
The Plan Sponsor matches 100% of a participant’s payroll contributions, up to a maximum of 3% of such participant’s annual compensation. Thereafter, the Plan Sponsor will match 50% of the participant’s additional payroll contributions, up to a maximum of 2% of such participant’s additional annual compensation.
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. 30 ↗ |
| Match vesting | Participants are immediately vested in all participant and Plan Sponsor contributions credited to the participant’s accounts plus actual earnings (losses) thereon. | Audit report, p. 31 ↗ |
| Roth contributions | Participants may contribute up to 70% of their annual compensation, as defined in the Plan, as pretax or Roth contributions. | Audit report, p. 30 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Participants may only have one loan outstanding at a time. The notes are secured by the balance in the participant's account and bear interest at the prime rate as published in the Wall Street Journal, plus 1%. Principal and interest is paid ratably through payroll deductions or as a lump sum for the outstanding loan balance. | Audit report, p. 31 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Cliftonlarsonallen 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 87 defined-contribution plans in retail trade with 10,000 to 49,999 participants.
| Rite Aid: employer contribution per participant | $1,360 | |
| Peer median | $1,215 |
| Rite Aid: average balance | $140,807 | |
| Peer median | $48,539 |
| Rite Aid: admin expenses ÷ assets | 0.07% | |
| Peer median | 0.12% |
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 $3.7B at the end of plan year 2021 to $3.2B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 30,990 | $3.2B | $31M | $1,360 | 0.07% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2023 | 39,088 | $3.3B | $40.9M | $1,659 | 0.07% | Not published | Form 5500 ↗ |
| 2022 | 41,303 | $2.9B | $40.9M | $1,604 | 0.06% | Not published | Form 5500 ↗ |
| 2021 | 42,115 | $3.7B | $41.7M | $1,554 | 0.06% | Not published | Form 5500 ↗ |
Other Rite Aid plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Rite Aid Corporation 401(k) for Collectively Bargained Associates
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Empower Annuity Insurance Company | Schedule C ↗ |
| Independent auditor | Cliftonlarsonallen LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
The Rite Aid Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Alight Solutions LLC | Schedule C ↗ |
| Independent auditor | Clifton Larson Allen, LLP (Cla) (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Rite Aid match 401(k) contributions?
The audit report attached to the The Rite Aid 401(k) Plan's plan year 2024 Form 5500, page 30 says: “The Plan Sponsor matches 100% of a participant’s payroll contributions, up to a maximum of 3% of such participant’s annual compensation. Thereafter, the Plan Sponsor will match 50% of the participant’s additional payroll contributions, up to a maximum of 2% of such participant’s additional annual compensation.” Plan terms may have changed; check your current Summary Plan Description.
When is the Rite Aid 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 31 says: “Participants are immediately vested in all participant and Plan Sponsor contributions credited to the participant’s accounts plus actual earnings (losses) thereon.”
Who manages the Rite Aid 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Rite Aid Corporation.
I left Rite Aid. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Rite Aid Corporation, (717) 761-2633) or the recordkeeper, Empower Annuity Insurance Company. The Rite Aid old 401(k) page lists the contacts from every plan filing. Find an old Rite Aid 401(k)
Data from the public Form 5500 annual reports Rite Aid filed with the U.S. Department of Labor (plan years 2021 and 2022 and 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 Rite Aid. Not financial advice. Report a correction · Methodology