TJX Companies 401(k) match, vesting and fees
What TJX Companies' 401(k) plan says about matching contributions
For participants hired on or after February 1, 2006, the Company matches 75% of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), subject to limitations. For participants hired before February 1, 2006, who are eligible to earn additional benefits under the Company’s Retirement Plan, the Company matches 25% of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), subject to limitations. Special rules apply to participants covered by a collective bargaining agreement. Elective contributions and Company contributions are allocated to the investment funds available under the Plan, as directed by the participant, subject to limitations. The Plan offers mutual funds, collective investment trusts and a stable value investment option. The Company may elect to make additional discretionary profit-sharing contributions for a plan year. This may include matching contributions which match a percentage (generally up to 25%) of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), non-matching contributions, or a combination of matching and non-matching contributions, in each case subject to limitations. The Company made a 5% discretionary matching contribution, plus a discretionary non-matching contribution of $100 per eligible participant for the plan years ended December 31, 2024 and December 31, 2023. The Company may also make additional non-matching contributions on a discretionary basis.
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. 29 ↗ |
| Match vesting | Participants are vested immediately in their own contributions, while employer contributions vest 25% per year of employment so that all employer contributions are fully vested after four years of service. Forfeitures of non-vested Company contributions are applied against future Company contributions. Unallocated forfeitures were $4,845 thousand and $5,198 thousand at December 31, 2024 and 2023, respectively. There were $4,957 thousand and $2,531 thousand of forfeitures applied against Company contributions for the plan years ended December 31, 2024 and December 31, 2023, respectively. | Audit report, p. 29 ↗ |
| Automatic enrollment | The Plan includes an automatic enrollment feature under which eligible employees who have completed the 1,000 hours of service requirement under the Plan are automatically enrolled to make pre-tax contributions under the Plan at a 2% contribution rate, and their accounts under the Plan are automatically invested in the Plan’s default investment option, unless the employee elects otherwise. The automatic enrollment feature generally applies to all employees who have met the 1,000 hours of service requirement. | Audit report, p. 29 ↗ |
| Roth contributions | Elective contributions may be made on a pre-tax basis or Roth after-tax basis. | Audit report, p. 29 ↗ |
| Loans | Under the terms of the Plan, participants may obtain loans from the Plan utilizing funds accumulated in their accounts. The minimum amount which may be borrowed is $500. Participants may borrow up to a maximum of 50% of their vested account balance, not to exceed $50,000 (less their highest outstanding loan balance during the previous twelve months) and may have only one loan outstanding at any time. Interest is calculated at the prime rate on the last day of the quarter prior to the date that the loan is taken and remains fixed for the term of the loan. The interest rate on outstanding loans (including loans transferred to the Plan), ranged from 3.25% to 8.50% during the year ended December 31, 2024 and ranged from 3.25% to 8.50% during the year ended December 31, 2023. The loan interest rate was 7.50% at December 31, 2024 and 8.50% at December 31, 2023. Loans are repaid to the Plan through after-tax payroll deductions. The term of the loan is selected at the discretion of the participant; however, it generally may not exceed five years. | Audit report, p. 30 ↗ |
| Recordkeeper | Fid Inv Inst Ops | Schedule C ↗ |
| Independent auditor | Pricewaterhousecoopers LLP (unmodified opinion) | 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.
| TJX Companies: employer contribution per participant | $837 | |
| Peer median | $1,179 |
| TJX Companies: average balance | $27,734 | |
| Peer median | $58,043 |
| TJX Companies: 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 $3.1B at the end of plan year 2021 to $3.7B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 311,623 | $3.7B | $111M | $837 | 0.11% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 303,498 | $3.2B | $101M | $802 | 0.11% | Not published | Form 5500 ↗ |
| 2022 | 132,895 | $2.7B | $84.8M | $676 | 0.12% | Not published | Form 5500 ↗ |
| 2021 | 125,533 | $3.1B | $66.8M | $595 | 0.11% | Not published | Form 5500 ↗ |
Other TJX Companies plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
The Tjx Companies, Inc. Puerto Rico Savings 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 | Fid Inv Inst Ops | Schedule C ↗ |
| Independent auditor | Pricewaterhousecoopers LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Profit-sharing · Active | Form 5500 ↗ |
The Tjx Companies, Inc Retirement 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.
| Independent auditor | Pricewaterhouse Coopers, LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does TJX Companies match 401(k) contributions?
The audit report attached to the The Tjx Companies, Inc. 401(k) Savings Plan's plan year 2024 Form 5500, page 29 says: “For participants hired on or after February 1, 2006, the Company matches 75% of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), subject to limitations. For participants hired before February 1, 2006, who are eligible to earn additional benefits under the Company’s Retirement Plan, the Company matches 25% of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), subject to limitations. Special rules apply to participants covered by a collective bargaining agreement. Elective contributions and Company contributions are allocated to the investment funds available under the Plan, as directed by the participant, subject to limitations. The Plan offers mutual funds, collective investment trusts and a stable value investment option. The Company may elect to make additional discretionary profit-sharing contributions for a plan year. This may include matching contributions which match a percentage (generally up to 25%) of participant contributions to the Plan, up to the first 5% of eligible pay (as defined), non-matching contributions, or a combination of matching and non-matching contributions, in each case subject to limitations. The Company made a 5% discretionary matching contribution, plus a discretionary non-matching contribution of $100 per eligible participant for the plan years ended December 31, 2024 and December 31, 2023. The Company may also make additional non-matching contributions on a discretionary basis.” Plan terms may have changed; check your current Summary Plan Description.
When is the TJX Companies 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Participants are vested immediately in their own contributions, while employer contributions vest 25% per year of employment so that all employer contributions are fully vested after four years of service. Forfeitures of non-vested Company contributions are applied against future Company contributions. Unallocated forfeitures were $4,845 thousand and $5,198 thousand at December 31, 2024 and 2023, respectively. There were $4,957 thousand and $2,531 thousand of forfeitures applied against Company contributions for the plan years ended December 31, 2024 and December 31, 2023, respectively.”
Who manages the TJX Companies 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fid Inv Inst Ops. The plan administrator is The Tjx Companies, Inc..
I left TJX Companies. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (The Tjx Companies, Inc., (508) 390-2306) or the recordkeeper, Fid Inv Inst Ops. The TJX Companies old 401(k) page lists the contacts from every plan filing. Find an old TJX Companies 401(k)
Data from the public Form 5500 annual reports TJX Companies 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 TJX Companies. Not financial advice. Report a correction · Methodology