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Industry · Form 5500 business code 522291
Consumer Lending: 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.
For plan year 2024, 74 retirement plans in consumer lending with 100 or more participants filed Form 5500: 74 defined contribution and 0 defined benefit. They reported 82,885 participant records and $5.16B in net assets, counting every plan on the form.
The median defined contribution plan held $43,379 per participant, below the national median of $53,031, and its employer put in $1,995 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $114 per participant against $123 nationally.
Employers contributed $182M and participants $359M during the year, and the plans paid out $628M in benefits.
In 2009 the same group numbered 55 plans with $415M; by 2024 it was 74 plans (up 35%) and $5.16B (up 1143%). 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 | $43,379 | $53,031 | — | $86,234 |
| Employer contributions per active participant | $1,995 | $2,174 | — | $10,244 |
| Schedule C compensation per participant | $114 | $123 | — | $344 |
| Schedule C compensation, share of net assets | 0.31% | 0.26% | — | 0.42% |
| Administrative expenses per participant | $111 | $116 | — | $527 |
Medians across plans with 100 or more participants (71 DC and 0 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 | $24,384 | $43,379 | $58,908 | 71 |
| Employer contributions per active participant | $748 | $1,995 | $3,806 | 64 |
| Schedule C compensation per participant | $58.98 | $114 | $194 | 69 |
| Administrative expenses per participant | $60.86 | $111 | $178 | 67 |
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 | 17 | 21,693 | $880M | $19.9M | $82.9M | $46,139 | $110 |
| 2024 | 74 | 82,885 | $5.16B | $182M | $359M | $43,379 | $114 |
| 2023 | 79 | 92,542 | $4.62B | $192M | $356M | $33,974 | $105 |
| 2022 | 89 | 96,788 | $3.81B | $194M | $372M | $23,738 | $82.54 |
| 2021 | 101 | 106,132 | $4.74B | $186M | $375M | $26,744 | $70.15 |
| 2020 | 98 | 99,555 | $3.93B | $182M | $319M | $23,955 | $51.16 |
| 2019 | 96 | 99,909 | $3.17B | $171M | $268M | $19,371 | $48.53 |
| 2018 | 89 | 93,295 | $2.35B | $168M | $233M | $14,271 | $50.74 |
| 2017 | 85 | 93,866 | $2.38B | $163M | $211M | $17,597 | $40.89 |
| 2016 | 81 | 87,875 | $1.80B | $158M | $183M | $14,618 | $37.00 |
| 2015 | 83 | 83,927 | $1.47B | $81.4M | $116M | $12,650 | $20.91 |
| 2014 | 70 | 68,045 | $1.40B | $61.4M | $84.9M | $12,942 | $25.62 |
| 2013 | 66 | 61,726 | $1.26B | $53.2M | $75.5M | $12,987 | $17.64 |
| 2012 | 56 | 58,464 | $1.00B | $49.8M | $64.2M | $10,752 | $18.99 |
| 2011 | 52 | 47,438 | $514M | $33.3M | $38.0M | $9,325 | $39.86 |
| 2010 | 54 | 44,433 | $543M | $26.2M | $33.6M | $10,475 | $25.84 |
| 2009 | 55 | 43,020 | $415M | $26.1M | $29.8M | $10,100 | $20.86 |
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 76 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 76 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Synchrony Financial My Savings Plan | Synchrony Financial | CT | DC | 12,820 | $1.56B | $122,008 | $8,108 | $29.36 |
| Sofi Technologies, Inc. 401(k) Plan | Sofi Technologies, Inc. | CA | DC | 5,657 | $296M | $52,248 | $0 | $10.42 |
| Navient 401(k) Savings Plan | Navient Corporation | DE | DC | 4,726 | $694M | $146,852 | $6,040 | $32.30 |
| World Acceptance Corporation Retirement Savings Plan | World Acceptance Corporation | SC | DC | 3,736 | $80.6M | $21,579 | $432 | $45.15 |
| Advance America, Cash Advance Centers, Inc. Retirement Savings 401(k) Plan | Advance America Cash Advance Centers Inc. | SC | DC | 3,225 | $49.6M | $15,377 | $674 | $56.15 |
| Mariner Finance LLC 401(k) Plan | Mariner Finance, LLC | MD | DC | 2,848 | $113M | $39,569 | $1,985 | $106 |
| Enova International, Inc. 401(k) Savings Plan | Enova International, Inc. | IL | DC | 2,754 | $144M | $52,201 | $2,491 | $111 |
| Lendmark 401(k) Plan | Lendmark Financial Services, LLC | GA | DC | 2,674 | $115M | $42,887 | $2,299 | $130 |
| Sallie Mae 401(k) Savings Plan | SLM Corporation | DE | DC | 2,324 | $304M | $130,813 | $5,127 | $89.38 |
| Security 401(k) Profit-Sharing and Savings Plan | Security Finance Corporation of Spartanburg | SC | DC | 2,014 | $114M | $56,453 | $1,750 | $16.38 |
| 1st Franklin Financial 401(k) Retirement Plan | 1st Franklin Financial Corporation | GA | DC | 2,004 | $131M | $65,354 | $1,856 | $117 |
| Better Home & Finance Holding Company 401(k) Plan | Better Home & Finance Holding Company | NY | DC | 1,950 | $58.0M | $29,727 | — | $39.82 |
| Regional Management Corp. Savings & Investment Plan | Regional Management Corp. | SC | DC | 1,936 | $42.6M | $22,020 | $1,632 | $86.30 |
| American Financial Network, Inc. 401(k) Profit Sharing Plan | American Financial Network, Inc. | CA | DC | 1,881 | $43.2M | $22,958 | — | $95.39 |
| PLS Financial Services, Inc. 401(k) Plan | PLS Financial Services, Inc. | IL | DC | 1,875 | $35.7M | $19,065 | $774 | $58.98 |
| Lendingclub Corporation 401(k) Plan | Lendingclub Corporation | CA | DC | 1,784 | $145M | $81,411 | $3,399 | $130 |
| Republic Finance, LLC 401(k) Plan | Republic Finance, LLC | LA | DC | 1,568 | $50.3M | $32,106 | $1,804 | $99.04 |
| Prog Holdings Employee Retirement Plan | Prog Holdings, Inc. | UT | DC | 1,562 | $85.7M | $54,840 | $2,724 | $26.74 |
| Goodleap, LLC 401(k) Plan | Goodleap, LLC | CA | DC | 1,405 | $49.2M | $35,002 | $317 | $237 |
| Global Lending Services LLC 401(k) Plan | Global Lending Services LLC | SC | DC | 1,333 | $33.5M | $25,107 | $2,158 | $94.60 |
| Stellantis Financial Services, Inc. 401(k) Plan | Stellantis Financial Services, Inc. | TX | DC | 1,288 | $44.6M | $34,623 | $2,202 | $216 |
| Lendingtree, Inc. 401(k) Retirement Savings Plan | Lendingtree, Inc. | NC | DC | 1,253 | $107M | $85,728 | $2,379 | $149 |
| Oportun 401(k) Plan | Oportun, Inc. | CA | DC | 1,181 | $83.4M | $70,593 | — | $120 |
| Flagship Credit Acceptance LLC 401(k) Plan | Flagship Credit Acceptance LLC | PA | DC | 1,033 | $48.6M | $47,024 | $2,177 | $79.77 |
| Community Loans of America Group 401(k) Plan | Community Loans of America, Inc. | GA | DC | 962 | $11.7M | $12,196 | — | $71.70 |
| Acrisure Mortgage LLC 401(k) Profit Sharing Plan | Acrisure Mortgage LLC | FL | DC | 893 | $53.0M | $59,333 | $1,759 | $207 |
| QC Financial Services 401(k) Retirement Plan | QC Financial Services, LLC | KS | DC | 776 | $20.3M | $26,171 | $304 | $132 |
| Village Capital 401(k) Plan | Village Capital & Investment, LLC | NV | DC | 715 | $6.8M | $9,479 | $531 | $77.42 |
| Prosper Marketplace, Inc. 401(k) Plan | Prosper Marketplace, Inc. | CA | DC | 713 | $61.2M | $85,844 | $669 | $135 |
| Mercedes-Benz Financial Services USA LLC Retirement Plan | Mercedes-Benz Financial Services USA LLC | MI | DC | 655 | $93.4M | $142,598 | $9,497 | $176 |
| Das Acquisition Company 401(k) Profit Sharing Plan and Trust | Das Acquisition Company, LLC | MO | DC | 612 | $39.8M | $65,082 | $32 | $132 |
| Tower Loan of Mississippi, LLC 401(k) and Profit Sharing Plan | Tower Loan of Mississippi, LLC | MS | DC | 602 | $59.8M | $99,282 | $1,521 | $76.01 |
| Figure 401(k) Plan | Figure Technology Solutions | CA | DC | 591 | $18.0M | $30,458 | $0 | $92.84 |
| Moneytree, Inc. Profit Sharing and 401(k) Plan | Moneytree, Inc. | WA | DC | 553 | $30.0M | $54,286 | — | $230 |
| Plan de Ahorro Empleados Island Finance | Island Finance, LLC | PR | DC | 549 | $13.0M | $23,769 | $508 | $103 |
| Newday USA Retirement Plan | New Day Financial, LLC | FL | DC | 541 | $26.6M | $49,180 | $1,250 | $291 |
| Elevate Credit, Inc. 401(k) Plan | Elevate Credit Service, LLC | TX | DC | 532 | $65.6M | $123,233 | $6,917 | $27.82 |
| Spring Eq 401(k) Plan | Spring Eq LLC | PA | DC | 499 | $15.6M | $31,176 | $2,031 | $120 |
| Eagle Financial 401(k) Plan | Eagle Financial Services Inc. | KY | DC | 497 | $24.1M | $48,420 | $2,218 | $145 |
| Aqua Finance Inc. 401(k) Profit Sharing Plan | Aqua Finance Inc. | WI | DC | 474 | $16.8M | $35,440 | $3,830 | $44.23 |
By plan size
By state
Questions and answers
How many retirement plans are there in consumer lending?
74 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 106 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 consumer lending?
The median defined contribution plan reported $43,379 in net assets per participant (middle half of plans: $24,384 to $58,908); 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 consumer lending?
The median defined contribution plan received $1,995 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 consumer lending?
Among defined contribution plans that report any Schedule C compensation, the median was $114 per participant and 0.31% 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.