Gap Inc. 401(k) Review & Grade
Gapshare 401(k) Plan
San Francisco, CARetail Trade69,214 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$685Employer $ per active participant
$1,461Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$2.6BNet plan assets, end of year
$57,001Average balance per account
Score breakdown
- Employer generosity24.4 / 5049th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 66th |
| Employee saving | 41th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Gap put in about $685 per active participant, below the typical peer ($689). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $47,443,479 |
| Participant (employee) contributions | $101,088,359 |
| Other contributions (incl. rollovers in) | $9,428,628 |
| Administrative expenses paid from the plan | $1,413,072 |
| Investment advisory & management fees | $91,123 |
| Other admin expenses | $20,370 |
| Benefits paid out | $226,060,594 |
| Net assets, start / end of year | $2.4B / $2.6B |
| Active participants, start / end of year | 70,145 / 68,283 |
| Participants with account balances | 45,828 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche, LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $1,301,579 reported compensation |
| Mercer | $91,123 reported compensation |
| Deloitte Tax LLP | $13,032 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013095727NAL0000462003001, received 2025-10-13, EIN 94-1697231, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.