Retirement plan
CVS HEALTH FUTURE FUND 401(K) PLAN
CVS HEALTH CORPORATIONEIN 05-0494040Plan #017PY 2023
ONE CVS DRIVE, MAIL CODE 1110 - WOONSOCKET, RI 02895888-694-7287cvshealth.comLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
1 filingProspect flagsLow returnsLow participationCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ROBERTA F. JOHNNENE
Signed 09/27/2024
Summary metrics
Total assets (EOY)
$27588.8M
-10.8% from 2016
Total participants
307,068
-6.3% from 2016
Average account balance
$123,373
-1.5% from 2016
Annual return
15.17%
-10.16 pp from 2016
Benchmarks
Peer group
Industry44 - Retail Trade
Plan typeDefined contribution
Participants>=10,000
Cohort96 peers
Snapshot2023
89
Participant deferral / active EE
$4,541
median $1,646
88
Employer contribution / active EE
$2,353
median $726
65
Participation rate
65.3%
median 46.6%
94
Avg account balance
$123,373
median $48,858
0
Admin fee / account holder
$190
median $51
18
Annual return
15.17%
median 18.03%
Overall peer rank
59of 100
59th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$30.09B
Average account balance
Total assets / participants with a balance (line 6g)
$130K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
230,636
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
50.5%
Contributions (total)
Employer and participant dollars contributed each year
$1.66B
Contributions per participant
Average employer and participant contribution per enrolled participant
$5K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+12.24%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$190
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 18 by compensation
| Provider | Service type | Compensation |
|---|---|---|
VANGUARD ADVISERS INC.1 year Service code 26 · EIN 23-2811930 | Advisory (Participants) | $14,920,764 |
THE VANGUARD GROUP, INC.5 years Service code 15 · EIN 23-1945930 | Recordkeeping | $7,636,591 |
Service code 28 · EIN 04-3247425 | Investment Management | $2,596,301 |
Service code 28 · EIN 13-3180631 | Investment Management | $2,267,446 |
T. ROWE PRICE9+ years Service code 28 · EIN 52-0556949 | Investment Management | $2,266,926 |
WELLINGTON MANAGEMENT3 years Service code 28 · EIN 47-1167553 | Investment Management | $2,115,291 |
Service code 28 · EIN 75-2403190 | Investment Management | $1,638,379 |
THE BANK OF NEW YORK MELLON3 years Service code 21 · EIN 13-5160382 | Bank Trustee | $1,438,549 |
Service code 28 · EIN 04-3200030 | Investment Management | $1,246,749 |
Service code 28 · EIN 04-3370184 | Investment Management | $1,118,080 |
Plan features & details
Pension benefit codes2E2F2G2I2J2K2O2T
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2IStock bonusStock bonus plan.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
Opportunity flags
3 tripped
- OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$42.6M
$177 / participant
- Recordkeeping$8M17.9%
- Trustee / custodial$1M3.4%
- Investment mgmt$33M78.6%
- Legal$40K0.1%
% of EOY assets
0.154%
all-in expense ratio
Categories reported
4 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- ERNST & YOUNG LLP
- Auditor EIN
- 346565596
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified