Retirement plan
NORDSTROM 401K PLAN
NORDSTROM, INC.EIN 91-0515058Plan #001PY 2023
Prospect flagsLow returnsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator entity
NORDSTROM 401K PLAN RETIREMENT COMMITTEE
EIN 910979776
Summary metrics
Total assets (EOY)
$3919.9M
-6.0% from 2016
Total participants
108,781
+0.4% from 2016
Average account balance
$37,891
-3.5% from 2016
Annual return
15.57%
-11.44 pp from 2016
Benchmarks
Peer group
Industry45 - Retail Trade
Plan typeDefined contribution
Participants>=10,000
Cohort39 peers
Snapshot2023
79
Participant deferral / active EE
$3,076
median $1,452
82
Employer contribution / active EE
$1,194
median $722
82
Participation rate
90.8%
median 37.3%
32
Avg account balance
$37,891
median $47,766
11
Admin fee / account holder
$108
median $52
16
Annual return
15.57%
median 18.52%
Overall peer rank
50of 100
50th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$4.30B
Average account balance
Total assets / participants with a balance (line 6g)
$42K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
102,382
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
87.9%
Contributions (total)
Employer and participant dollars contributed each year
$259.31M
Contributions per participant
Average employer and participant contribution per enrolled participant
$4K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+12.22%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$108
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 17 by compensation
| Provider | Service type | Compensation |
|---|---|---|
ALIGHT SOLUTIONS LLC7 years Service code 15 · EIN 82-1061233 | Recordkeeping | $3,424,752 |
Service code 26 · EIN 82-1061233 | Advisory (Participants) | $2,636,089 |
Service code 28 · EIN 47-2614791 | Investment Management | $2,033,231 |
BANK OF NEW YORK MELLON9+ years Service code 21 · EIN 13-5160382 | Bank Trustee | $1,181,928 |
DODGE & COX9+ years Service code 28 · EIN 94-1441976 | Investment Management | $789,833 |
CALLAN ASSOCIATES9+ years Service code 16 · EIN 94-2192581 | Consulting | $358,961 |
THOMPSON HINE3 years Service code 29 · EIN 34-0575300 | Legal | $255,013 |
WILLIS TOWERS WATSON2 years Service code 11 · EIN 53-0181291 | Actuarial | $210,212 |
Service code 28 · EIN 06-1440627 | Investment Management | $181,065 |
MOSS ADAMS8 years Service code 10 · EIN 91-0189318 | Accounting | $64,575 |
Top hat statement on fileNQDC
Filed June 19, 2020 (most recent of 3 filings on file)
Plan administrator
Plans declared (4)
- Nordstrom Directors Deferred Compensation Plan9 emp
- Nordstrom Deferred Compensation Plan488 emp
- Nordstrom Supplemental Executive Retirement Plan8 emp
- Nordstrom, Inc. Executive Severance Plan10 emp
Total covered: 515 employees
Plan features & details
Pension benefit codes2F2G2J2K2R2S2T3H
Plan features
- 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 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 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
$11.2M
$192 / participant
- Recordkeeping$3M30.6%
- Trustee / custodial$1M10.6%
- Investment mgmt$6M54.1%
- Legal$255K2.3%
- Other / not subdivided$278K2.5%
% of EOY assets
0.285%
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
- MOSS ADAMS LLP
- Auditor EIN
- 910189318
- Audit fees
- $64,575
- Opinion code
- Unqualified