Retirement plan
FEDEX CORPORATION RETIREMENT SAVINGS PLAN
FEDEX CORPORATIONEIN 62-1721435Plan #001PY 2021
942 SOUTH SHADY GROVE ROAD - MEMPHIS, TN 38120901-434-7013
Other plans on this EIN
2 filingsProspect flagsLow participationCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JEFFREY MIZE
Signed 10/14/2022
Summary metrics
Total assets (EOY)
$26464.3M
-9.9% from 2016
Total participants
286,776
-3.8% from 2016
Average account balance
$129,584
-6.1% from 2016
Annual return
14.45%
-9.38 pp from 2016
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants>=10,000
Cohort46 peers
Snapshot2021
64
Participant deferral / active EE
$5,127
median $3,236
56
Employer contribution / active EE
$1,838
median $1,076
47
Participation rate
62.6%
median 65.6%
76
Avg account balance
$129,584
median $75,978
60
Admin fee / account holder
$59
median $69
49
Annual return
14.45%
median 14.51%
Overall peer rank
59of 100
59th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$25.38B
Average account balance
Total assets / participants with a balance (line 6g)
$181K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
140,526
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
96.3%
Contributions (total)
Employer and participant dollars contributed each year
$1.09B
Contributions per participant
Average employer and participant contribution per enrolled participant
$11K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+12.07%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$55
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 3 by compensation
| Provider | Service type | Compensation |
|---|---|---|
VANGUARD ADVISERS INC.1 year Service code 26 · EIN 23-2811930 | Advisory (Participants) | $8,049,783 |
THE VANGUARD GROUP, INC.7+ years Service code 15 · EIN 23-1945930 | Recordkeeping | $1,939,684 |
Service code 29 · EIN 62-1047356 | Legal | $6,889 |
Plan features & details
Pension benefit codes2E2F2G2J2K2S2T3H
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.
- 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.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 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.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$12.0M
$54 / participant
- Investment mgmt$10M80.5%
- Other / not subdivided$2M19.5%
% of EOY assets
0.045%
all-in expense ratio
Categories reported
1 / 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