Trader Joe's 401(k) match, vesting and fees
What Trader Joe's' 401(k) plan says about matching contributions
Company Contributions - The Company may make a discretionary non-elective contribution and a discretionary matching contribution. For the year ended December 31, 2024, the Company made a discretionary matching contribution of contributed special bonus payments totaling $29,689,357, net of forfeitures, and made no discretionary non-elective contribution. Participant Accounts - Each participant’s account is credited with the participant’s contributions and Company matching contributions, as well as allocations of the Company’s non-elective contribution, if any, compensation recapture reimbursements and Plan earnings, and charged with any withdrawals or distributions requested by the participant, investment losses and allocation of administrative expenses, if applicable.
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 | Vesting - Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of service. Participants that terminate on or after January 1, 2007 are vested in Company contributions at 20 percent after two years of service and an additional 20 percent each year thereafter until 100 percent vested upon six years of service. Participants that terminated prior to January 1, 2007 are vested according to the Plan document. The Plan also provides for full and immediate vesting upon death, disability, or attainment of age 65. Forfeitures - Forfeitures of Company contributions totaling $5,955,828 and $6,439,749 as of December 31, 2024 and 2023, respectively. Forfeitures are first used to reduce any future Company matching and non-elective contributions and then to pay Plan administrative expenses. During the year ended December 31, 2024, forfeitures of $5,126,875 were utilized to reduce the 2024 Company discretionary matching contribution. | Audit report, p. 29 ↗ |
| Recordkeeper | Capital Group Retirement Plan Svcs. | Schedule C ↗ |
| Independent auditor | Holthouse Carlin & Van Trigt (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.
| Trader Joe's: employer contribution per participant | $654 | |
| Peer median | $1,215 |
| Trader Joe's: average balance | $70,641 | |
| Peer median | $48,539 |
| Trader Joe's: admin expenses ÷ assets | 0.02% | |
| 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 $2.8B at the end of plan year 2023 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 | 73,118 | $3.2B | $29.7M | $654 | 0.02% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 75,766 | $2.8B | $23.1M | $523 | 0.02% | Not published | Form 5500 ↗ |
Common questions
Does Trader Joe's match 401(k) contributions?
The audit report attached to the Trader Joe'S Company Retirement Plan's plan year 2024 Form 5500, page 29 says: “Company Contributions - The Company may make a discretionary non-elective contribution and a discretionary matching contribution. For the year ended December 31, 2024, the Company made a discretionary matching contribution of contributed special bonus payments totaling $29,689,357, net of forfeitures, and made no discretionary non-elective contribution. Participant Accounts - Each participant’s account is credited with the participant’s contributions and Company matching contributions, as well as allocations of the Company’s non-elective contribution, if any, compensation recapture reimbursements and Plan earnings, and charged with any withdrawals or distributions requested by the participant, investment losses and allocation of administrative expenses, if applicable.” Plan terms may have changed; check your current Summary Plan Description.
When is the Trader Joe's 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 29 says: “Vesting - Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of service. Participants that terminate on or after January 1, 2007 are vested in Company contributions at 20 percent after two years of service and an additional 20 percent each year thereafter until 100 percent vested upon six years of service. Participants that terminated prior to January 1, 2007 are vested according to the Plan document. The Plan also provides for full and immediate vesting upon death, disability, or attainment of age 65. Forfeitures - Forfeitures of Company contributions totaling $5,955,828 and $6,439,749 as of December 31, 2024 and 2023, respectively. Forfeitures are first used to reduce any future Company matching and non-elective contributions and then to pay Plan administrative expenses. During the year ended December 31, 2024, forfeitures of $5,126,875 were utilized to reduce the 2024 Company discretionary matching contribution.”
Who manages the Trader Joe's 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Capital Group Retirement Plan Svcs.. The plan administrator is Trader Joe'S Company.
I left Trader Joe's. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Trader Joe'S Company, (626) 599-3700) or the recordkeeper, Capital Group Retirement Plan Svcs.. The Trader Joe's old 401(k) page lists the contacts from every plan filing. Find an old Trader Joe's 401(k)
Data from the public Form 5500 annual reports Trader Joe's 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 Trader Joe's. Not financial advice. Report a correction · Methodology