Walgreens 401(k) match, vesting and fees
What Walgreens' 401(k) plan says about matching contributions
The Company provides a fully vested match of one dollar for each dollar contributed by a participant as a 401(k) and/or catch up contribution, up to 4% of the eligible compensation for employees who have completed 1,000 hours of service in a consecutive 12-month period and are age 18 or older.
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 immediately vested in their contributions and the Company contributions, plus actual earnings thereon. All active employees are 100% vested in all Plan contributions, including discretionary Company contributions. | Audit report, p. 30 ↗ |
| Roth contributions | Participants may elect to make pretax and/or Roth contributions to the Plan in multiples of 1%, subject to the Internal Revenue Service (“IRS”) limits. Participants may opt out of these contributions at any time. | Audit report, p. 29 ↗ |
| Loans | Participants may have up to two loans concurrently from their Plan assets. The borrowing may not exceed the lesser of 50% of the market value of their Plan assets or $50,000. Participants pay interest on such borrowings at the prime rate identified by Reuters on the last business day of the month immediately preceding the month in which the loan is issued, plus 1%. Loans must be repaid within five years unless the loan is used for the purchase of the primary residence of the employee, in which case the repayment period can be extended to a period of 15 years. Repayment is made through periodic payroll deductions, but may be repaid in a lump sum at any time. For employees terminating employment with the Company during the repayment period, the borrower may continue to make loan repayments directly from his or her bank or other personal account through Automated Clearing House. | Audit report, p. 30 ↗ |
| Recordkeeper | Fid Inv Inst Ops Co | Schedule C ↗ |
| Independent auditor | Grant Thornton 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.
| Walgreens: employer contribution per participant | $1,723 | |
| Peer median | $1,179 |
| Walgreens: average balance | $108,922 | |
| Peer median | $58,043 |
| Walgreens: admin expenses ÷ assets | 0.03% | |
| 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 $13.4B at the end of plan year 2023 to $14.5B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 254,452 | $14.5B | $230M | $1,723 | 0.03% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 272,420 | $13.4B | $227M | $1,643 | 0.03% | Not published | Form 5500 ↗ |
Other Walgreens plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Walgreens Puerto Rico Retirement 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 Co | Schedule C ↗ |
| Independent auditor | Grant Thornton LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
Common questions
Does Walgreens match 401(k) contributions?
The audit report attached to the Walgreens Retirement Savings Plan's plan year 2024 Form 5500, page 29 says: “The Company provides a fully vested match of one dollar for each dollar contributed by a participant as a 401(k) and/or catch up contribution, up to 4% of the eligible compensation for employees who have completed 1,000 hours of service in a consecutive 12-month period and are age 18 or older.” Plan terms may have changed; check your current Summary Plan Description.
When is the Walgreens 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Participants are immediately vested in their contributions and the Company contributions, plus actual earnings thereon. All active employees are 100% vested in all Plan contributions, including discretionary Company contributions.”
Who manages the Walgreens 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fid Inv Inst Ops Co. The plan administrator is Walgreen Co..
I left Walgreens. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Walgreen Co., (800) 825-5467) or the recordkeeper, Fid Inv Inst Ops Co. The Walgreens old 401(k) page lists the contacts from every plan filing. Find an old Walgreens 401(k)
Data from the public Form 5500 annual reports Walgreens 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 Walgreens. Not financial advice. Report a correction · Methodology