Industry sector · Form 5500 business code 31xxxx
Manufacturing: retirement plans
Plans whose sponsor entered a business code in this sector on Form 5500.
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. The business code is chosen by the filer from the list in the Form 5500 instructions.
13,519 retirement plans in manufacturing with 100 or more participants filed Form 5500 for plan year 2024 (11,969 defined contribution, 1,550 defined benefit). All Form 5500 pension filers in the group reported 23,933,264 participant records and $3.13T in net assets.
The median defined contribution plan held $62,223 per participant, above the national median of $53,031, and its employer put in $2,187 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $136 per participant against $123 nationally.
Employers contributed $62.9B and participants $85.1B during the year, and the plans paid out $315.0B in benefits.
In 2009 the same group numbered 18,134 plans with $1.87T; by 2024 it was 13,519 plans (down 25%) and $3.13T (up 67%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $62,223 | $53,031 | $67,951 | $86,234 |
| Employer contributions per active participant | $2,187 | $2,174 | $6,912 | $10,244 |
| Schedule C compensation per participant | $136 | $123 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.24% | 0.26% | 0.47% | 0.42% |
| Administrative expenses per participant | $131 | $116 | $498 | $527 |
Medians across plans with 100 or more participants (11,446 DC and 1,536 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $35,573 | $62,223 | $104,723 | 11,446 |
| Employer contributions per active participant | $1,218 | $2,187 | $3,785 | 11,100 |
| Schedule C compensation per participant | $67.05 | $136 | $233 | 10,680 |
| Administrative expenses per participant | $60.77 | $131 | $226 | 10,994 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2025partial | 1,885 | 3,663,887 | $626.1B | $13.0B | $20.9B | $76,526 | $148 |
| 2024 | 13,519 | 23,933,264 | $3.13T | $62.9B | $85.1B | $62,223 | $136 |
| 2023 | 14,011 | 24,315,063 | $2.95T | $59.5B | $80.8B | $56,339 | $120 |
| 2022 | 15,680 | 25,277,070 | $2.70T | $59.3B | $76.3B | $44,486 | $113 |
| 2021 | 15,720 | 24,867,017 | $3.33T | $50.7B | $70.3B | $54,908 | $120 |
| 2020 | 15,855 | 24,990,373 | $3.18T | $61.3B | $65.9B | $51,500 | $104 |
| 2019 | 15,944 | 25,203,996 | $2.86T | $57.7B | $63.9B | $45,631 | $92.94 |
| 2018 | 15,866 | 25,555,320 | $2.52T | $52.3B | $59.9B | $39,625 | $83.84 |
| 2017 | 15,976 | 25,878,878 | $2.72T | $90.3B | $56.2B | $43,676 | $72.43 |
| 2016 | 16,107 | 26,432,970 | $2.46T | $66.2B | $53.7B | $39,597 | $60.46 |
| 2015 | 16,260 | 27,214,214 | $2.38T | $56.1B | $53.0B | $37,807 | $51.76 |
| 2014 | 16,405 | 27,473,441 | $2.46T | $55.1B | $50.0B | $38,860 | $46.01 |
| 2013 | 16,475 | 28,157,190 | $2.38T | $57.6B | $47.9B | $37,979 | $39.08 |
| 2012 | 16,634 | 28,694,383 | $2.17T | $65.8B | $45.7B | $33,285 | $36.11 |
| 2011 | 16,821 | 28,488,031 | $1.94T | $68.6B | $43.4B | $30,427 | $36.51 |
| 2010 | 17,228 | 29,371,117 | $1.98T | $67.0B | $40.4B | $30,741 | $34.51 |
| 2009 | 18,134 | 30,948,893 | $1.87T | $64.1B | $40.5B | $26,592 | $32.17 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 13,545 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 50 largest by participants of 13,545 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| IAM National Pension Fund | Board of Trustees of the I.A.M. National Pension Fund | DC | DB | 311,750 | $14.7B | $47,179 | $6,224 | $189 |
| General Motors Hourly-Rate Employees Pension Plan | General Motors LLC | MI | DB | 310,099 | $35.6B | $114,719 | $0 | — |
| RTX Consolidated Pension Plan | RTX Corporation | CT | DB | 281,638 | $41.6B | $147,862 | $161 | $82.91 |
| The Boeing Company 401(k) Retirement Plan | The Boeing Co. and Consolidated Subsidiaries | VA | DC | 217,061 | $73.8B | $340,156 | $9,911 | — |
| RTX Savings Plan | RTX Corporation | CT | DC | 214,241 | $58.6B | $273,696 | $8,775 | $45.85 |
| The Pepsico Savings Plan | Pepsico, Inc. | NY | DC | 161,067 | $16.7B | $103,729 | $3,281 | $12.20 |
| Northrop Grumman Savings Plan | Northrop Grumman Corporation | VA | DC | 151,108 | $44.3B | $293,485 | $6,882 | $77.76 |
| Apple 401(k) Plan | Apple Inc. | CA | DC | 147,655 | $30.7B | $208,172 | $7,702 | $68.61 |
| Lockheed Martin Corporation Salaried Savings Plan | Lockheed Martin Corporation | MD | DC | 144,858 | $55.4B | $382,634 | $12,107 | — |
| Ford Motor Company UAW Retirement Plan | Ford Motor Company | MI | DB | 138,666 | $17.8B | $128,605 | — | $81.49 |
| GE Aerospace Pension Plan | General Electric Company, Operating As GE Aerospace | OH | DB | 118,868 | $19.0B | $160,003 | — | $21.39 |
| The Pension Value Plan for Employees of the Boeing Company | The Boeing Co. and Consolidated Subsidiaries | VA | DB | 115,617 | $23.3B | $201,878 | — | $62.28 |
| The Boeing Company Employee Retirement Plan | The Boeing Co. and Consolidated Subsidiaries | VA | DB | 115,404 | $15.4B | $133,254 | — | $50.98 |
| Northrop Grumman Pension Plan | Northrop Grumman Corporation | VA | DB | 104,566 | $18.8B | $179,519 | — | $78.59 |
| Bakery & Confectionery Union & Industry International Pension Fund | Joint Board of Trustees, Bakery & Confectionery Union & Industry | MD | DB | 99,660 | $6.56B | $65,835 | $10,555 | $82.65 |
| Fca US LLC UAW Pension Agreement | Fca US LLC | MI | DB | 98,708 | $10.3B | $103,895 | — | $74.24 |
| Tesla, Inc. 401(k) Plan | Tesla, Inc. | TX | DC | 95,640 | $3.21B | $33,553 | $1,369 | $38.04 |
| GE Healthcare Pension Plan | GE Healthcare Technologies Inc. | IL | DB | 93,650 | $13.7B | $146,722 | — | $27.82 |
| Honeywell Retirement Earnings Plan | Honeywell International Inc. | NC | DB | 93,364 | $16.6B | $177,562 | — | — |
| Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees | Ford Motor Company | MI | DC | 87,085 | $8.29B | $95,232 | $4,735 | — |
| Pepsico, Inc. Employees Retirement Plan H | Pepsico, Inc. | NY | DB | 85,189 | $4.20B | $49,271 | — | $261 |
| Retirement Plan of International Paper Company | International Paper Company | TN | DB | 84,174 | $8.19B | $97,274 | — | $74.19 |
| Lockheed Martin Corporation Salaried Employee Retirement Program | Lockheed Martin Corporation | MD | DB | 82,940 | $18.3B | $220,209 | $62,551 | — |
| Retirement Plan of Johnson and Johnson | Johnson and Johnson | NJ | DB | 82,100 | $21.1B | $256,743 | — | — |
| Nokia Retirement Income Plan | Nokia of America Corporation | NJ | DB | 81,332 | $12.9B | $158,046 | — | $81.10 |
| Intel 401(k) Savings Plan | Intel Corporation | CA | DC | 80,916 | $24.8B | $306,978 | $12,217 | $2.75 |
| Johnson and Johnson Savings Plan | Johnson and Johnson | NJ | DC | 75,410 | $23.6B | $312,691 | $6,192 | — |
| L3HARRIS Retirement Savings Plan | L3HARRIS Technologies, Inc. | FL | DC | 74,641 | $16.3B | $218,559 | $10 | — |
| The General Motors Personal Savings Plan for Hourly-Rate Employees in the United States | General Motors LLC | MI | DC | 71,495 | $9.57B | $133,833 | $4,895 | — |
| Merck US Pension Plan | Merck & Co., Inc. | NJ | DB | 71,380 | $10.1B | $141,357 | $5,707 | — |
| Cisco Systems,inc. 401(k) Plan | Cisco Systems,inc. | CA | DC | 70,957 | $26.4B | $371,631 | $9,410 | $57.93 |
| Burlington Stores Savings Plan | Burlington Coat Factory Warehouse Corporation | NJ | DC | 70,632 | $457M | $6,470 | $217 | $10.50 |
| Procter & Gamble Profit Sharing Trust & Employee Stock Ownership Plan | The Procter & Gamble Company | OH | DC | 69,403 | $21.2B | $305,877 | $12,734 | $44.70 |
| GE Aerospace Retirement Savings Plan | General Electric Company | OH | DC | 68,934 | $14.7B | $213,772 | $8,582 | $15.50 |
| General Dynamics Corporation 401(k) Plan 6.0 | General Dynamics Corporation | VA | DC | 68,452 | $12.4B | $181,068 | $6,224 | $68.58 |
| Mars Veterinary Health 401(k) Savings Plan | Mars, Incorporated | NJ | DC | 66,642 | $2.56B | $38,355 | $1,650 | $30.65 |
| Pension and Retirement Plan | Eidp, Inc. | DE | DB | 66,338 | $10.4B | $157,063 | — | $97.58 |
| General Motors Retirement Savings Plan for Salaried Employees in the United States | General Motors LLC | MI | DC | 65,343 | $23.1B | $352,894 | $13,545 | — |
| Honeywell 401(k) Plan | Honeywell International Inc. | NC | DC | 63,466 | $16.3B | $257,090 | $5,348 | — |
| The Sherwin-Williams Company 401(k) Plan | The Sherwin-Williams Company | OH | DC | 62,829 | $10.6B | $168,132 | $3,387 | $27.21 |
| Abbott Laboratories Stock Retirement Plan | Abbott Laboratories | IL | DC | 61,408 | $17.8B | $290,532 | $7,613 | — |
| Exxonmobil Pension Plan | Exxon Mobil Corporation | TX | DB | 60,890 | $11.2B | $184,201 | $13,497 | $158 |
| Pace Industry Union-Management Pension Fund | Pace Industry Union-Management Pension Fund | TN | DB | 60,684 | $2.82B | $46,464 | $17,025 | $44.96 |
| NG Space&mission Systems Corp. Salaried Pension Pla | Northrop Grumman Corporation | VA | DB | 60,528 | $8.39B | $138,683 | — | $74.88 |
| Caterpillar 401(k) Savings Plan | Caterpillar Inc. | TX | DC | 59,937 | $23.0B | $384,099 | $11,073 | $161 |
| Chevron Retirement Plan | Chevron Corporation | TX | DB | 59,088 | $9.73B | $164,700 | $20,935 | — |
| Bae Systems Employees' Savings and Investment Plan | Bae Systems, Inc. | VA | DC | 58,830 | $12.0B | $204,098 | $6,246 | $28.75 |
| Dell Inc. 401(k) Plan | Dell Inc. | TX | DC | 58,607 | $14.6B | $249,769 | $6,023 | $71.20 |
| Pfizer Savings Plan | Pfizer Inc. | NY | DC | 57,113 | $22.0B | $384,730 | $18,743 | $171 |
| L3HARRIS Technologies Consolidated Pension Plan | L3HARRIS Technologies, Inc. | FL | DB | 56,703 | $7.59B | $133,943 | $5,637 | — |
By plan size
By state
Business codes in this sector
Codes with 20 or more plans of 100+ participants in plan year 2024. Labels are from the official Form 5500 instructions.
Questions and answers
How many retirement plans are there in manufacturing?
13,519 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 18,358 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in manufacturing?
The median defined contribution plan reported $62,223 in net assets per participant (middle half of plans: $35,573 to $104,723); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in manufacturing?
The median defined contribution plan received $2,187 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in manufacturing?
Among defined contribution plans that report any Schedule C compensation, the median was $136 per participant and 0.24% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.