Retirement plan

WHOLE FOODS MARKET GROWING YOUR FUTURE 401(K) PLAN

Name: WHOLE FOODS MARKET, INC. - WHOLE FOODS MARKET GROWING YOUR FUTURE 401(K) PLAN (2023) Form 5500
Creator: WHOLE FOODS MARKET, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WHOLE FOODS MARKET GROWING YOUR FUTURE 401(K) PLAN, WHOLE FOODS MARKET, INC.

WHOLE FOODS MARKET, INC.EIN 74-1989366Plan #002PY 2023

550 BOWIE STREET - AUSTIN, TX 787034644512-477-4455wholefoodsmarket.comLinkedIn10001+ employeesretail

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$2057.4M

-8.8% from 2016

Total participants

122,881

-0.1% from 2016

Average account balance

$18,661

-9.7% from 2016

Annual return

19.37%

-11.26 pp from 2016

Benchmarks

See 96 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants>=10,000

Cohort96 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.44B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$25K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

99,215

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

81.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$302.13M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.94%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$42

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,852,479
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$454,048
FORVIS, LLP1 year Filed as: FORVIS MAZARS, LLP Service code 10 · EIN 44-0160260 401 S 1ST STREET #1375 · AUSTIN, TX 78704	Accounting	$31,500
COOK STREET CONSULTING9+ years Filed as: COOK STREET CONSULTI Service code 27 · EIN 84-0854432	Advisory (Plan)	$19,002

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants 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.
2J
Code section 401(k) feature
Cash 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.
2K
Code section 401(m) arrangement
Employee 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$4.4M

$47 / participant

Recordkeeping$4M88.3%
Investment mgmt$454K10.4%
Contract admin$7K0.2%
Other / not subdivided$51K1.2%

% of EOY assets

0.212%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $31,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,661

$53,531-65.1%

$86,251-78.4%

$96,393-80.6%

Participation rate

86.3%

53.4%+32.9pp

69.0%+17.4pp

71.3%+15.0pp

Annual return

19.37%

20.51%-1.1pp

1170.54%-1151.2pp

22.88%-3.5pp

Employer contribution / active EE

$94

$1,158-91.9%

$2,381-96.0%

$3,239-97.1%

Participant deferral / active EE

$2,550

$1,965+29.8%

$3,987-36.0%

$5,455-53.3%

Admin fee / account holder

$39

$55-28.8%

$6,857-99.4%

$74-46.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,852,479

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$454,048

FORVIS, LLP1 year

Filed as: FORVIS MAZARS, LLP

Service code 10 · EIN 44-0160260

401 S 1ST STREET #1375 · AUSTIN, TX 78704

Accounting

$31,500

COOK STREET CONSULTING9+ years

Filed as: COOK STREET CONSULTI

Service code 27 · EIN 84-0854432

Advisory (Plan)

$19,002

WHOLE FOODS MARKET GROWING YOUR FUTURE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WHOLE FOODS MARKET GROWING YOUR FUTURE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion