Bread Financial Payments, Inc. 401(k) Review & Grade
Bread Financial 401(k) Plan
Columbus, OHFinance & Insurance5,527 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,326Employer $ per active participant
$7,060Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$932.0MNet plan assets, end of year
$104,553Average balance per account
Score breakdown
- Employer generosity30.3 / 5061th percentile for employer $ per participant
- Low cost24.7 / 2599th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 99th |
| Employee saving | 32th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $36,089 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bread Financial Payments put in about $5,326 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $29,435,691 |
| Participant (employee) contributions | $39,020,124 |
| Other contributions (incl. rollovers in) | $5,963,961 |
| Administrative expenses paid from the plan | $41,851 |
| Benefits paid out | $79,704,887 |
| Net assets, start / end of year | $823.4M / $932.0M |
| Active participants, start / end of year | 6,062 / 4,992 |
| Participants with account balances | 8,914 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ary Roepcke Mulchaey, P.C. |
| Employer stock held by plan | $11,281,195 |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $41,851 reported compensation |
| Charles Schwab & Co., Inc. | $1,168 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009123943NAL0003914291001, received 2025-10-09, EIN 13-3163498, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.