Plan Sponsor: Target Corporation
Total Plan Assets (as of December 31, 2022): $11,216,825,000
Contribution Limits: Eligible employees can invest up to 80 percent of their eligible compensation. Participants can contribute up to the annual contribution limits established by the IRS, which were $20,500 for 2022. Participants age 50 and older can make catch-up contributions of up to $6,500.
Employer Match Percentage: The Company matches 100 percent of each participant’s contribution up to 5 percent of eligible compensation under the Plan. This means that the employer matches 100% of the participant’s contributions up to 5% of their eligible compensation.
Automatic Enrollment: The plan document does not specify whether the plan has an automatic enrollment feature, so it’s not clear if automatic enrollment is in place.
Required Vesting Period: Participants are immediately vested in both participant contributions and the Company’s matching contributions. This means that there is no vesting period, and participants are fully vested from the start.
Plan Administrator: The plan document mentions that the assets of the Plan are held in a Master Trust maintained by State Street Bank and Trust Company. While State Street Bank and Trust Company is involved in the trust management, the document doesn’t explicitly mention the primary plan administrator.
Please note that the provided information is based on the details available in the document, and for more specific information, you may need to refer to the Plan Documents and contact the Plan administrators.
DISCLOSURE: Wealth45 is not affiliated with Target Corporation.
The IRS limits the total amount you can contribute each year to a 401(k) plan. Limit is $23,000 for 2024.
For those over 50 years old, you can make additional “catch-up” contributions to your 401(k) plan. Limit is $7,500 for 2024.
Cash & Cash Equivalents:
Common Stock Funds:
Common Collective Trusts:
* 401k plan participates are invested in collective trusts managed by the Blackrock Institutional Trust Company. Link to Institutional share class of LifePath funds provided for illustrative purposes only.
Target Corporation employees invested in the following funds based on public filings as of 12/31/2022.
| Investment | Value ($ millions) | |
| S+P 500 INDEX SER A FLAGSHIP NON LENDING | $ 1,967 | |
| TARGET CORP COMMON STOCK FUND | $ 1,851 | |
| SSGA RUSS SM/MD CAP INDX SER A | $ 804 | |
| EAFE INDEX NON LENDABLE F | $ 789 | |
| LIFEPATH INDEX 2050 NL FUND F | $ 706 | |
| LIFEPATH INDEX 2045 NL FUND F | $ 575 | |
| LIFEPATH INDEX 2055 NL FUND F | $ 513 | |
| LIFEPATH INDEX RETIREMENT NL | $ 450 | |
| STATE STR BK + TR CO INVT FDS | $ 444 | |
| LIFEPATH INDEX 2040 NL | $ 439 | |
| Source: Form 5500 filed Oct. 6, 2023 |
