Employer · plans filed under one EIN
National Grid USA Service Company, Inc.
Brooklyn, NY · Utilities
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances.
National Grid USA Service Company, Inc., based in Brooklyn, New York, sponsors 5 retirement plans with 100 or more participants: 1 defined contribution and 4 defined benefit. Together they reported 47,348 participant records and $13.2B in net assets.
The largest is National Grid USA Co. Incentive Thrift Plan, an ESOP with a 401(k) feature with 24,480 participants. A person can be counted in more than one plan, so the participant total is a count of records rather than of people.
Employer contributions across the plans were $140M and participant contributions $260M in the latest plan years; benefits paid were $859M. Schedule C compensation reported to service provider organisations totalled $7.2M.
Combined net assets moved from $4.33B in 2009 to $13.2B in 2024 (up 206%). Plan mergers and spin-offs show up here as steps in the series.
Plans
| Plan | Kind | Plan year | Participants | Net assets | Per participant | Employer / active | Sch. C compensation |
|---|---|---|---|---|---|---|---|
| National Grid USA Co. Incentive Thrift Plan | ESOP with a 401(k) feature | 2024 | 24,480 | $6.44B | $262,887 | $7,375 | $1.2M |
| The Keyspan Retirement Plan | cash balance pension plan | 2024 | 6,948 | $2.20B | $317,127 | $846 | $0 |
| National Grid USA Companies Final Average Pay Pension Plan | cash balance pension plan | 2024 | 6,047 | $1.87B | $308,861 | — | $3.2M |
| The Retirement Income Plan of Keyspan Corporation | cash balance pension plan | 2024 | 4,950 | $1.61B | $325,643 | $7,669 | $0 |
| Niagara Mohawk Pension Plan | cash balance pension plan | 2024 | 4,923 | $1.10B | $223,722 | — | $2.7M |
| US median, plan year 2024: DC plans $53,102 per participant, $2,175 employer contribution per active participant; DB plans $86,221 and $10,244. | |||||||
Trend by plan year
| Plan year | Plans | Participant records | Net assets | Employer contributions | Participant contributions |
|---|---|---|---|---|---|
| 2024 | 5 | 47,348 | $13.2B | $140M | $260M |
| 2023 | 5 | 47,166 | $12.8B | $124M | $243M |
| 2022 | 5 | 51,088 | $12.6B | $168M | $228M |
| 2021 | 5 | 59,429 | $17.3B | $172M | $126M |
| 2020 | 5 | 49,468 | $13.3B | $164M | $119M |
| 2019 | 5 | 50,493 | $11.9B | $153M | $112M |
| 2018 | 5 | 51,043 | $10.6B | $310M | $102M |
| 2017 | 3 | 32,992 | $6.63B | $83.1M | $99.5M |
| 2016 | 3 | 33,054 | $6.11B | $134M | $91.9M |
| 2015 | 3 | 32,939 | $5.78B | $109M | $88.8M |
| 2014 | 3 | 33,102 | $5.97B | $121M | $85.3M |
| 2013 | 3 | 33,856 | $5.76B | $77.2M | $94.5M |
| 2012 | 3 | 34,103 | $5.46B | $182M | $89.7M |
| 2011 | 3 | 34,549 | $4.97B | $196M | $85.4M |
| 2010 | 3 | 35,059 | $4.76B | $233M | $82.3M |
| 2009 | 3 | 36,438 | $4.33B | $290M | $80.0M |
History of the plans listed above, in the years each filed the full Form 5500 with 100 or more participants. Plans that have since terminated are not included.
Service providers
| Organisation | Services reported | Plans | Compensation reported |
|---|---|---|---|
| Aon Consulting Inc. | Actuarial; Consulting (general) | 2 | $1,608,534 |
| Vanguard Group Inc. | Recordkeeping and information management; Participant loan processing; Consulting (general); Participant communication | 1 | $978,785 |
| The Bank of New York Mellon | Custodial (securities); Trustee (bank, trust company, or similar financial institution); Custodial (other than securities) | 2 | $819,844 |
| Pacific Investment Management | Investment management | 2 | $792,571 |
| Western Asset Management | Investment management | 2 | $571,800 |
| Dodge & Cox | Investment management | 2 | $525,587 |
| J.P. Morgan Investment | Investment management | 2 | $443,663 |
| Goldman Sachs Asset Management | Investment management | 1 | $308,174 |
| Ir+m Collective Investment | Investment management | 1 | $239,119 |
| Legal & General Investment | Investment management | 1 | $220,046 |
| New England Pension Consultants | Consulting (general) | 1 | $179,582 |
| Grantham, Mayo, Van Otterloo & Co. | Investment management | 1 | $173,345 |
| CliftonLarsonAllen LLP | Accounting (including auditing) | 3 | $99,945 |
| Deloitte & Touche LLP | Accounting (including auditing) | 1 | $70,040 |
| State Street Bank and Trust Co. | Investment management | 2 | $51,525 |
Organisations paid $5,000 or more by any of these plans, from Schedule C. Individuals are not shown.
Questions and answers
How many retirement plans does National Grid USA Service Company, Inc. have?
5 plans with 100 or more participants filed Form 5500 under its employer identification number for the latest plan years: National Grid USA Co. Incentive Thrift Plan, The Keyspan Retirement Plan, National Grid USA Companies Final Average Pay Pension Plan and The Retirement Income Plan of Keyspan Corporation and others. Smaller plans and plans filed under a subsidiary's number are not grouped here.
How much does National Grid USA Service Company, Inc. contribute to its plans?
$139,500,923 in employer contributions across these plans in their latest plan years, about $5,331 per active participant record. Form 5500 reports totals and not the match or accrual formula.
Who provides services to these plans?
Schedule C filings name Aon Consulting Inc., Vanguard Group Inc., The Bank of New York Mellon and Pacific Investment Management and others. Only organisations paid $5,000 or more by a plan are listed on Schedule C.
Where does this come from?
Form 5500 annual reports filed with the Department of Labor's EFAST2 system, from the EBSA research files, with filings received through 24 Aug 2026. Figures are as filed and may be amended.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Plans are grouped by the sponsor's employer identification number exactly as filed; a company that files under several EINs appears as several employers. See the methodology and corrections.