CVS Health Future Fund 401(k) Plan: Vanguard
CVS Health Corporation · Woonsocket, RI · EIN 050494040 · Plan 017 · Form 5500 for plan year 2024
Vanguard is the recordkeeper named on this filing, the company that keeps the account records for this plan. Where to log in, and who to call.
What CVS Health put into the plan, per active participant
$1,778
CVS Health Corporation put $1,778 into this plan for each of its 313,966 active participants in plan year 2024. That is the whole employer side, matching money, profit sharing, non-elective and safe-harbor contributions and reallocated forfeitures together, because the Form 5500 reports them on one line, so it is not the match rate.
CVS Health put in more per active participant than 86% of plans with 5,000+ participants in retail. The middle plan in that group of 196 reported $700. Retail comes from business code 446110, which CVS Health Corporation entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much CVS Health pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: Form 5500 filing for the plan year ended December 31, 2024, received by the DOL October 6, 2025 · Read the filing (PDF) ↗
The $1,778 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. CVS Health Corporation also files a Form 11-K, which states the match formula on its own for plan year 2025: the section below reads $2,475 a year at a $49,500 salary. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What the plan cost, per participant
$142.85
The plan paid $142.85 per participant in plan-paid administrative expenses in plan year 2024, more expensive than 94% of plans with 5,000+ participants. The middle plan of that size paid $54.84.
Why a plan this big pays less per person before anything else
Bigger plans pay less per head by construction, because the same negotiated bill divides across more people. That is why this ranking sits inside the plan's own size cohort and is never taken across all plans.
Schedule H reports only what came out of plan assets. Fees the sponsor pays directly, and fees taken inside fund expense ratios, never appear here, so this is a floor and not the all-in cost.
401(k) Monitor Score
62 out of 100
Where this plan stands against plans of its size and industry on two amounts its Form 5500 reports: employer money in per active person, and plan-paid cost per person. It reads no match formula, no vesting schedule and no fund lineup, because a Form 5500 states none of them.
- What the employer put in, per active participant: $1,778. Higher than 86% of plans with 5,000+ participants in retail.
- What the plan cost, per participant: $143. Cheaper than 6% of plans with 5,000+ participants.
On this page: who holds your account · the match and vesting terms · what to check next · every figure on the filing · late deposits · fees itemised · the plans this one is ranked against · service providers
Who holds your account
Schedule C of this filing reports Vanguard, filed as “THE VANGUARD GROUP, INC.”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
2,337 plans on file name Vanguard as their recordkeeper, at a median of $97.87 per participant.
Participants log in at Vanguard ↗. 401(k) Monitor is not affiliated with Vanguard or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Vanguard |
|---|---|
| Recordkeeper EINThe provider's own employer identification number, as the filing states it. | 231945930 |
| Plan sponsor telephoneThe number CVS Health Corporation filed on the Form 5500. It reaches the employer, not the recordkeeper. | (888) 694-7287 |
The match and vesting terms, from a Form 11-K
The match formula and the vesting schedule are stated in a Form 11-K, which is filed only by employers whose plan holds company stock. A Form 5500 reports neither.
What CVS Health puts in
$2,475
a year, at a $49,500 salary.
The match paragraph, word for word
“Plan participants making elective deferrals are eligible to receive Company matching contributions with the first administratively feasible payroll date following the completion of one year of service with the Company. One year of service is defined as either: •12 months of service, beginning on the employee's employment date, during which the employee completed at least 1,000 hours of service, or •1,000 hours of service in any plan year following the calendar year in which the employee was hired. The Plan provides a match of 100% up to 5% of an employee’s eligible compensation contributed to the Plan per payroll. The maximum annual match per participant was $17,500 for 2025 and $17,250 for 2024.”
What you contribute to collect all of it
Contribute at least 5% of your pay to collect the full match.
That is $2,475 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are 100% vested at all times in participant and Company matching contributions. Participants are always fully vested in and have a non-forfeitable right to (1) their accounts upon retirement, death or disability, (2) any elective deferrals described in Note 1(c) and (3) any rollover amounts they make to the Plan.”
A worker hired today collects no match for 1 year. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Eligible employees who have attained age 18 are able to participate in the Plan for purposes of making their own salary deferral contributions as of the first of the month following their employment date. Eligible employees are defined as regular employees of the Company other than: •A nonresident alien receiving no United States (“U.S.”) earned income from the Company; •A resident of Puerto Rico; •An individual covered under a collective bargaining agreement where retirement benefits were the subject of good faith bargaining (unless the agreement provides for membership); •A leased employee (as defined in the Internal Revenue Code (the “Code”); or •An independent contractor or consultant (as defined by the Company).”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
94th percentile
$142.85 per participant in plan-paid administrative cost, more expensive than 94% of plans with 5,000+ participants.
The match, vesting and eligibility terms above are read from the Form 11-K filed by CVS Health Corporation, whose page states the full formula, the vesting schedule and the sentence behind each one.
What to check next
Collecting the whole match
CVS Health’s Form 11-K pays the whole match at 5% of pay, which is $2,475 a year at a $49,500 salary and scales with your own. Your payslip and your Vanguard ↗ account both show the rate you set. A rate below 5% collects less than the whole match.
That Form 11-K covers plan year 2025. The plan’s Summary Plan Description states the terms in force, and the plan administrator must provide it to participants on request.
What to ask about the fees
This plan paid $142.85 per participant out of plan assets, more than 94% of plans with 5,000+ participants, where the middle plan paid $54.84. The filing does not say what the difference buys. Two questions put that to a benefits or HR team: what the recordkeeping and administration contract costs, and how much of it comes out of participant accounts rather than being paid by CVS Health. The lines this total is made of are further down.
Weighing this employer against another
CVS Health’s filed match formula is set against another employer’s, term by term, on one page: UnitedHealth.
Your own numbers are not on this page
Every figure here is the whole plan for plan year 2024, taken from one filing and divided by headcounts. Your own contribution rate, your balance and the fees taken from your account are on your recordkeeper’s site, which this filing names as Vanguard ↗. What you may put in during a year is set by the IRS and not by the plan: this year’s limits ↗.
Key figures
| Total plan assets, end of year | $30,087,909,242 |
|---|---|
| Net assets | $30,062,340,595 |
| Participants, beginning of year | 307,068 |
| Of which active | 313,966 |
| Plan type | Single employer |
| Size cohortThe peer group we rank fees against. | 5,000+ participants |
| Automatic enrollmentForm 5500 line 8a carries a code for automatic enrollment, 2S, and this filing does not tick it. Across this dataset 25,364 plans do. | Not ticked on this filing |
| How the filing meets the 401(k) nondiscrimination rules, plan year 2024Schedule R part VII, as ticked. The rule compares what the higher-paid put in with what everyone else puts in, and the boxes say which method the plan used for this year. A plan can tick a different box next year, so this is an answer for one year, not a label. | Current year ADP test |
| Employer share of the money that went in, plan year 2024The rest came from employees, who put in $1,104,297,150. The share falls when employees save more, so a plan whose staff contribute heavily reads lower here through no act of the employer. It is printed as a fact and it is not part of the score. | 34% |
Late deposits of employee contributions
Schedule H line 4a of this filing is answered no: it reports no money withheld from participants’ pay that reached the plan later than the law allows, for plan year 2024.
The line is answered by the employer about its own plan and nobody checks it here, so a no is an answer rather than a clean bill of health. 13,904 of the 55,904 plans that answered this line answered yes.
Plan-paid administrative expenses
The plan paid $43,865,252 in administrative expenses in plan year 2024, across 307,068 participants: $142.85 per participant.
| Contract administrator fees | not reported in filing |
|---|---|
| Professional fees | not reported in filing |
| Investment management fees | $36,770,815 |
| Other administrative fees | $30,552 |
These are plan-paid expenses from Schedule H only. Fees the sponsor pays directly, and fees embedded in fund expense ratios, never appear here. This figure is a floor, not the all-in cost, and a low number is not “free”.
The plans this one is ranked against
Fees on this page are ranked against the 5,000+ participant cohort, where the median plan pays $54.84 per participant. The sponsor files from Rhode Island, one of 191 plans on file there, at a median of $120.98 per participant. Its business code places the plan in retail, one of 2,305 on file, which run to a median of $93.99.
Plans of a similar size in Rhode Island
| Plan | Participants | Cost per participant |
|---|---|---|
| UNFI 401(k) PlanUnited Natural Foods, Inc. | 50,287 | $27.61 |
| Textron Savings PlanTextron Inc. | 36,530 | $46.37 |
| CFG Retirement Savings PlanCitizens Financial Group, Inc. | 26,647 | $66.55 |
| Brown Health 401(k) Retirement Savings PlanLifespan Corporation, Dba Brown University Health | 19,490 | $42.79 |
Service providers (Schedule C)
| Provider | Service codes | Direct comp. ($) | Indirect comp. ($) |
|---|---|---|---|
| Vanguard Advisers Inc. | 26 | 15,954,978 | not reported |
| The Vanguard Group, Inc. | 37, 16, 99, 15 | 5,431,119 | 0 |
| Mfs Institutional Advisors, Inc. | 51, 50, 28 | 3,108,605 | not reported |
| Columbia Management Investment Advi | 71, 51, 50, 63, 28 | 2,750,323 | not reported |
| T. Rowe Price | 51, 50, 28 | 2,686,542 | not reported |
| Wellington Management | 51, 50, 28 | 2,481,639 | not reported |
| Barrow Hanley Global Investors | 51, 50, 68, 28 | 1,978,364 | not reported |
| The Bank Of New York Mellon | 31, 62, 99, 50, 25, 21 | 1,526,366 | not reported |
| Loomis, Sayles & Company, L.P. | 51, 50, 28 | 1,405,760 | not reported |
| Snyder Capital Management, L.P. | 51, 50, 28 | 1,209,270 | not reported |
| Earnest Partners, LLC | 51, 50, 28 | 1,056,004 | not reported |
| Baron Capital Management, Inc. | 51, 50, 28 | 1,053,035 | not reported |
| Dodge & Cox | 51, 50, 28 | 1,044,333 | not reported |
| Invesco Advisers, Inc. | 51, 67, 50, 28 | 950,497 | not reported |
| D.F. Dent And Company, Inc. | 51, 50, 28 | 604,455 | not reported |
| Buck Global, LLC | 50, 51, 49, 27, 16 | 575,698 | not reported |
| State Street Global Advisors Trust | 51, 50, 28 | 137,905 | not reported |
| Ernst & Young U.S. LLP | 50, 10 | 106,400 | not reported |
| Allen Overy Shearman Sterling US Ll | 50, 29 | 30,552 | not reported |
Useful links
- Find a 401(k) you left at an old job ↗
The DOL's Retirement Savings Lost & Found. Free and official.
- Read this plan's Form 5500 as filed (PDF) ↗
The document every figure above was read from, served by the DOL. Acknowledgement ID 20251006141123NAL0003741777001.
Source
Everything this page reports about the plan itself was read from one document: the Form 5500 annual return that CVS Health Corporation filed with the US Department of Labor for the plan year ended December 31, 2024. Nothing here is estimated, modelled or supplied by the employer to this site.
Where the page compares this plan with others, the comparison is computed from the same Form 5500 release across the peer group each figure names. The filing is below, and the identifiers under it find it again without this page.
Read the filing as submitted (PDF, dol.gov) ↗
| Document | Form 5500 annual return for plan year 2024 |
|---|---|
| Filed with | US Department of Labor, EBSA (through EFAST2) |
| Filed byAs spelled on the filing | CVS HEALTH CORPORATION |
| Employer EIN | 050494040 |
| Plan number | 017 |
| Filing ACK_ID | 20251006141123NAL0003741777001 |
| Received by the DOL | October 6, 2025 |
| Bulk dataset | DOL EFAST2 Form 5500 bulk data (FOIA) |
| Dataset last refreshed | July 28, 2026 |
Bulk dataset at askebsa.dol.gov ↗ · Search EFAST2 by EIN and plan number ↗
401(k) Monitor is not affiliated with CVS Health Corporation, with the Department of Labor or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Filings lag by design: a plan can file up to 9½ months after its year ends, so this is the newest data on file. Why filings lag
Cite this page
401(k) Monitor, "CVS Health Future Fund 401(k) Plan: Form 5500 facts", from DOL EFAST2 filing 20251006141123NAL0003741777001, plan year ended December 31, 2024. 401(k) Monitor Score 62 out of 100 (exact value 62.26).
