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Industry · Form 5500 business code 522120
Savings Institutions: retirement plans
Plans whose sponsor entered this principal business activity code 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.
291 retirement plans in savings institutions with 100 or more participants filed Form 5500 for plan year 2024 (229 defined contribution, 62 defined benefit). All Form 5500 pension filers in the group reported 191,567 participant records and $18.5B in net assets.
The median defined contribution plan held $101,373 per participant, well above the national median of $53,031, and its employer put in $3,633 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $195 per participant against $123 nationally.
Employers contributed $495M and participants $679M during the year, and the plans paid out $1.84B in benefits.
In 2009 the same group numbered 436 plans with $7.36B; by 2024 it was 291 plans (down 33%) and $18.5B (up 151%). 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 | $101,373 | $53,031 | $148,132 | $86,234 |
| Employer contributions per active participant | $3,633 | $2,174 | $6,627 | $10,244 |
| Schedule C compensation per participant | $195 | $123 | $610 | $344 |
| Schedule C compensation, share of net assets | 0.21% | 0.26% | 0.44% | 0.42% |
| Administrative expenses per participant | $131 | $116 | $616 | $527 |
Medians across plans with 100 or more participants (219 DC and 60 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 | $68,992 | $101,373 | $128,278 | 219 |
| Employer contributions per active participant | $2,610 | $3,633 | $5,389 | 214 |
| Schedule C compensation per participant | $72.07 | $195 | $309 | 165 |
| Administrative expenses per participant | $28.96 | $131 | $270 | 198 |
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 | 101 | 92,243 | $9.00B | $246M | $434M | $114,230 | $188 |
| 2024 | 291 | 191,567 | $18.5B | $495M | $679M | $101,373 | $195 |
| 2023 | 299 | 184,727 | $16.8B | $438M | $623M | $88,792 | $159 |
| 2022 | 306 | 164,245 | $13.3B | $366M | $490M | $77,573 | $162 |
| 2021 | 313 | 177,336 | $17.0B | $426M | $533M | $91,882 | $159 |
| 2020 | 318 | 175,485 | $15.5B | $443M | $485M | $82,226 | $143 |
| 2019 | 322 | 171,501 | $13.8B | $526M | $435M | $76,118 | $131 |
| 2018 | 334 | 178,307 | $12.1B | $442M | $425M | $63,246 | $125 |
| 2017 | 353 | 180,540 | $13.0B | $507M | $395M | $68,815 | $109 |
| 2016 | 354 | 179,361 | $11.9B | $435M | $360M | $60,532 | $87.17 |
| 2015 | 373 | 193,349 | $11.2B | $423M | $367M | $54,943 | $78.07 |
| 2014 | 393 | 200,582 | $11.2B | $428M | $341M | $52,638 | $73.68 |
| 2013 | 415 | 203,264 | $10.6B | $313M | $321M | $49,596 | $67.40 |
| 2012 | 424 | 208,290 | $8.89B | $436M | $308M | $40,403 | $61.02 |
| 2011 | 445 | 218,601 | $7.93B | $598M | $279M | $34,627 | $46.27 |
| 2010 | 436 | 221,035 | $8.20B | $348M | $286M | $34,843 | $50.20 |
| 2009 | 436 | 220,715 | $7.36B | $356M | $275M | $31,415 | $39.52 |
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 295 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 295 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Santander 401(k) Plan | Santander Holdings USA, Inc. | PA | DC | 19,451 | $1.30B | $66,844 | $4,158 | $34.18 |
| Flagstar Bank, National Association Employee Savings Plan | Flagstar Bank, National Association | NY | DC | 9,504 | $945M | $99,447 | $3,701 | $64.98 |
| Southstate Bank 401(k) Retirement Savings Plan | Southstate Bank, N.A. | FL | DC | 7,670 | $810M | $105,577 | $3,377 | $55.21 |
| Columbia Bank 401(k) and Profit Sharing Plan | Columbia Banking System, Inc. | WA | DC | 7,647 | $850M | $111,140 | $2,713 | $79.37 |
| Sumitomo Mitsui Banking Corporation Retirement Plan | Sumitomo Mitsui Banking Corporation | NY | DB | 5,506 | $342M | $62,093 | $14,634 | $30.41 |
| Western Alliance Bancorporation 401(k) Plan | Western Alliance Bancorporation | AZ | DC | 4,620 | $545M | $118,019 | $6,172 | $68.32 |
| United Community Banks, Inc. 401(k) Plan | United Community Banks, Inc. | GA | DC | 3,821 | $295M | $77,254 | $3,670 | $61.76 |
| Sbera Pension Plan As Adopted by Eastern Bank | Eastern Bank | MA | DB | 3,753 | $583M | $155,413 | — | — |
| Eastern Bank 401(k) Plan | Eastern Bank | MA | DC | 3,185 | $381M | $119,755 | $2,265 | $103 |
| Northwest Bank 401(k) Plan | Northwest Bank | PA | DC | 2,920 | $259M | $88,848 | $2,333 | $87.01 |
| Banner Corporation 401(K)/PROFIT Sharing Plan | Banner Corporation | WA | DC | 2,745 | $297M | $108,284 | $3,708 | $111 |
| Northwest Bank Pension Plan | Northwest Bank | PA | DB | 2,631 | $220M | $83,468 | $0 | — |
| Provident Bank 401(k) Plan | Provident Bank | NJ | DC | 2,591 | $355M | $137,034 | $2,841 | $82.23 |
| Eastern Bank Employee Stock Ownership Plan | Eastern Bank | MA | DC | 2,491 | $135M | $54,195 | $2,820 | — |
| Dollar Bank Employee Tax-Sheltered Incentive Savings Plan | Dollar Bank, Federal Savings Bank | PA | DC | 2,390 | $245M | $102,573 | $847 | $65.89 |
| Upgrade Inc. 401(k) Plan | Upgrade Inc. | CA | DC | 2,078 | $54.5M | $26,242 | $3,422 | $56.53 |
| The Retirement Plan of Flagstar Bank, National Association | Flagstar Bank, National Association | NY | DB | 1,914 | $268M | $139,856 | — | $381 |
| Berkshire Bank 401(k) Plan | Berkshire Bank | MA | DC | 1,672 | $183M | $109,299 | $3,461 | $96.60 |
| Bangor Savings Bank 401(k) Plan & Trust Agreement | Bangor Savings Bank | ME | DC | 1,652 | $167M | $101,000 | $5,205 | — |
| Liberty Bank Pension Plan | Liberty Bank | CT | DB | 1,483 | $149M | $100,433 | $8,152 | $229 |
| American Savings Bank 401(k) Plan | American Savings Bank, F.S.B. | HI | DC | 1,479 | $199M | $134,666 | $4,085 | $46.00 |
| Pathward, National Association 401(k) Plan | Pathward, National Association | SD | DC | 1,472 | $174M | $117,979 | $6,725 | $289 |
| Retirement Plan for Oceanfirst Bank | Oceanfirst Bank | NJ | DC | 1,421 | $136M | $95,825 | $2,844 | $156 |
| Provident Bank Employee Stock Ownership Plan | Provident Bank | NJ | DC | 1,317 | $58.1M | $44,125 | $4,465 | — |
| Premier Financial Corp. 401(k) Employee Savings Plan | Premier Financial Corp. | OH | DC | 1,251 | $100M | $79,956 | $2,450 | $122 |
| Retirement Plan for Employees of Emigrant Bank | Emigrant Bank | FL | DB | 1,227 | $146M | $118,703 | $1,303 | — |
| Third Federal Savings Associate Stock Ownership Plan | Third Federal Savings and Loan Association of Cleveland | OH | DC | 1,211 | $85.6M | $70,670 | $4,755 | $8.51 |
| American Savings Bank Retirement Plan | American Savings Bank, F.S.B. | HI | DB | 1,201 | $97.2M | $80,925 | — | $398 |
| Independence Community Bank Employees Retirement Plan | Independence Community Bank C/o Santander Holdings USA, Inc. | MA | DB | 1,131 | $60.5M | $53,473 | — | $800 |
| Third Federal 401(k) Savings Plan | Third Federal Savings and Loan Association of Cleveland | OH | DC | 1,127 | $226M | $200,258 | $4,583 | $385 |
| Liberty Bank 401(k) Plan | Liberty Bank | CT | DC | 1,035 | $126M | $121,770 | $2,767 | $252 |
| Columbia Bank Savings and Investment Plan | Columbia Bank | NJ | DC | 1,021 | $142M | $138,787 | $2,950 | — |
| Oceanfirst Bank Employee Stock Ownership Plan | Oceanfirst Bank | NJ | DC | 1,011 | $24.4M | $24,091 | $1,749 | $42.43 |
| Servbank 401(k) Profit Sharing Plan | Servbank | IL | DC | 964 | $31.1M | $32,232 | $2,014 | $2.53 |
| Gate City Bank Retirement Savings Plan | Gate City Bank | ND | DC | 930 | $99.0M | $106,423 | $3,442 | $57.75 |
| Brookline Bancorp, Inc. Employee Stock Ownership Plan | Brookline Bancorp, Inc. | MA | DC | 926 | $7.2M | $7,803 | — | — |
| Salem Five 401(k) Retirement Plan | Salem Five Cents Savings Bank | MA | DC | 895 | $115M | $128,216 | $3,173 | $23.91 |
| Bank Independent Pension Plan | Bank Independent | AL | DB | 874 | $35.1M | $40,211 | — | $52.96 |
| Capitol Federal 401(k) Plan | Capitol Federal Financial, Inc. | KS | DC | 859 | $35.3M | $41,107 | $491 | $168 |
| Beneficial Bank Consolidated Pension Plan | Wilmington Savings Fund Society, FSB | DE | DB | 823 | $77.9M | $94,691 | — | $597 |
By plan size
By state
Questions and answers
How many retirement plans are there in savings institutions?
291 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 414 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 savings institutions?
The median defined contribution plan reported $101,373 in net assets per participant (middle half of plans: $68,992 to $128,278); 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 savings institutions?
The median defined contribution plan received $3,633 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 savings institutions?
Among defined contribution plans that report any Schedule C compensation, the median was $195 per participant and 0.21% 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.