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Industry · Form 5500 business code 524210
Insurance Agencies & Brokerages: 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.
346 retirement plans in insurance agencies & brokerages with 100 or more participants filed Form 5500 for plan year 2024 (337 defined contribution, 9 defined benefit). All Form 5500 pension filers in the group reported 529,290 participant records and $52.9B in net assets.
The median defined contribution plan held $87,274 per participant, well above the national median of $53,031, and its employer put in $2,970 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $152 per participant against $123 nationally.
Employers contributed $1.29B and participants $2.76B during the year, and the plans paid out $4.86B in benefits.
In 2009 the same group numbered 365 plans with $15.1B; by 2024 it was 346 plans (down 5%) and $52.9B (up 251%). 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 | $87,274 | $53,031 | $119,788 | $86,234 |
| Employer contributions per active participant | $2,970 | $2,174 | $10,653 | $10,244 |
| Schedule C compensation per participant | $152 | $123 | $302 | $344 |
| Schedule C compensation, share of net assets | 0.19% | 0.26% | 0.26% | 0.42% |
| Administrative expenses per participant | $130 | $116 | $571 | $527 |
Medians across plans with 100 or more participants (328 DC and 9 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 | $47,541 | $87,274 | $138,402 | 328 |
| Employer contributions per active participant | $2,038 | $2,970 | $4,694 | 317 |
| Schedule C compensation per participant | $60.05 | $152 | $286 | 303 |
| Administrative expenses per participant | $47.36 | $130 | $279 | 320 |
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 | 45 | 47,304 | $4.76B | $121M | $265M | $108,778 | $129 |
| 2024 | 346 | 529,290 | $52.9B | $1.29B | $2.76B | $87,274 | $152 |
| 2023 | 347 | 499,479 | $44.8B | $1.14B | $2.46B | $83,058 | $127 |
| 2022 | 380 | 474,568 | $38.5B | $1.01B | $2.27B | $68,795 | $134 |
| 2021 | 383 | 435,377 | $44.8B | $892M | $1.91B | $88,988 | $143 |
| 2020 | 382 | 384,856 | $39.0B | $816M | $1.61B | $85,524 | $139 |
| 2019 | 382 | 418,154 | $40.3B | $871M | $1.70B | $75,171 | $129 |
| 2018 | 383 | 395,671 | $32.8B | $754M | $1.53B | $68,427 | $121 |
| 2017 | 381 | 381,975 | $33.8B | $736M | $1.35B | $73,165 | $98.82 |
| 2016 | 367 | 319,420 | $23.5B | $523M | $1.07B | $66,819 | $81.40 |
| 2015 | 358 | 363,372 | $27.4B | $545M | $1.22B | $63,007 | $78.15 |
| 2014 | 358 | 352,647 | $27.2B | $527M | $1.07B | $66,797 | $69.85 |
| 2013 | 344 | 343,867 | $25.1B | $472M | $998M | $62,738 | $65.97 |
| 2012 | 345 | 332,319 | $21.4B | $487M | $896M | $55,503 | $65.43 |
| 2011 | 344 | 327,569 | $18.6B | $559M | $839M | $51,570 | $65.43 |
| 2010 | 359 | 331,434 | $18.0B | $422M | $793M | $49,116 | $57.39 |
| 2009 | 365 | 323,150 | $15.1B | $564M | $729M | $41,876 | $44.99 |
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 351 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 351 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Sequoia One 401(k) Plan | Sequoia One PEO, LLC | AZ | DC | 47,034 | $1.40B | $29,733 | $1,808 | $41.92 |
| Marsh & McLennan Companies Retirement Plan | Marsh & McLennan Companies, Inc. | NY | DB | 35,450 | $4.06B | $114,395 | — | $302 |
| Marsh & McLennan Companies 401(k) Savings and Investment Plan | Marsh & McLennan Companies, Inc. | NY | DC | 32,965 | $7.40B | $224,607 | $8,635 | — |
| Arthur J. Gallagher & Co. Employees Savings and Thrift Plan | Arthur J. Gallagher (Illinios), LLC. | IL | DC | 29,898 | $3.90B | $130,377 | $4,409 | $29.48 |
| Marsh & McLennan Agency 401(k) Savings & Investment Plan | Marsh & McLennan Companies, Inc. | NY | DC | 17,594 | $1.52B | $86,286 | $2,158 | — |
| Hub International Limited 401(k) Savings Plan | Hub International Limited | IL | DC | 15,742 | $1.58B | $100,055 | $2,686 | $136 |
| Brown & Brown, Inc. Employee Savings Plan | Brown & Brown, Inc. | FL | DC | 15,728 | $1.99B | $126,280 | $3,792 | $55.23 |
| Acrisure 401(k) Savings Plan | Acrisure, LLC | MI | DC | 13,873 | $1.13B | $81,749 | $2,352 | $39.05 |
| Helpside Inc. 401(k) Plan | Helpside Inc. | UT | DC | 11,489 | $234M | $20,362 | $1,204 | $185 |
| Assuredpartners 401(k) Plan | Assuredpartners, Inc. | FL | DC | 11,273 | $1.06B | $93,651 | $2,764 | $60.85 |
| Tih Insurance Holdings, LLC 401(k) Savings Plan | CRC Insurance Group, LLC | NC | DC | 9,495 | $1.63B | $171,224 | $3,094 | $21.42 |
| Alliant Insurance Services, Inc. 401(k) Savings & Investment Plan | Alliant Insurance Services, Inc. | CA | DC | 8,773 | $987M | $112,463 | $1,981 | $63.68 |
| Lockton, Inc. 401(k) Plan | Lockton, Inc. | MO | DC | 8,772 | $1.40B | $159,323 | $7,607 | $90.37 |
| The Pension Plan for Insurance Organizations | Named Fiduciaries of the Pension Plan for Insurance Organizations | PA | DB | 7,840 | $1.11B | $141,470 | $10,653 | $419 |
| Amwins Group, Inc. 401(k) Plan | Amwins Group, Inc. | NC | DC | 7,522 | $844M | $112,268 | $2,539 | $91.78 |
| AAA Ncnu 401(k) Plan | AAA Northern California, Nevada & Utah | CA | DC | 6,628 | $763M | $115,073 | $6,742 | $70.05 |
| Broadstreet 401(k) Plan | Broadstreet Partners, Inc. | OH | DC | 5,775 | $514M | $88,940 | $2,970 | $33.56 |
| Accession Risk Management Group 401(K)PLAN | Accession Risk Management Group, Inc. | MA | DC | 5,760 | $442M | $76,697 | $3,756 | $65.55 |
| Mercury General Corporation Profit Sharing Plan | Mercury General Corporation | CA | DC | 5,644 | $941M | $166,711 | $2,846 | $98.74 |
| Integrity, LLC 401(k) Plan | Integrity, LLC | TX | DC | 5,449 | $349M | $64,015 | $3,451 | $121 |
| Alera Group, Inc. Savings Plan | Alera Group, Inc. | IL | DC | 5,277 | $500M | $94,695 | $3,690 | $214 |
| Confie Holding II Co. 401(k) Plan | Confie Holding II Co. | CA | DC | 5,272 | $77.1M | $14,625 | $552 | $39.31 |
| Arthur J. Gallagher & Co. Employees' Pension Plan | Arthur J. Gallagher (Illinois), LLC | IL | DB | 5,137 | $313M | $60,991 | — | $36.56 |
| Digital Insurance, LLC 401(k) Plan | Digital Insurance, LLC | GA | DC | 5,131 | $402M | $78,299 | $2,843 | $39.81 |
| The Leavitt Group Profit Sharing and Retirement Savings Employee Stock Ownership Plan | Leavitt Group Enterprises, Inc. | UT | DC | 4,854 | $244M | $50,295 | $1,941 | $132 |
| The Baldwin Group Colleague, Inc. 401(k) Plan | The Baldwin Group Colleague, Inc. | FL | DC | 4,761 | $295M | $61,990 | $3,987 | $73.61 |
| Willis North America Inc. Pension Plan | Willis North America Inc. | TN | DB | 4,362 | $607M | $139,258 | — | $80.56 |
| Tmna, Inc. 401(k) Plan | Tokio Marine North America Inc. | NJ | DC | 4,169 | $820M | $196,616 | $5,853 | $81.59 |
| Edgewood Partners Insurance Center Savings Investment Plan | Edgewood Partners Insurance Center | NY | DC | 3,941 | $527M | $133,772 | $4,522 | $18.57 |
| Higginbotham Insurance Agency, Inc. Savings and Investment Plan and Trust | Higginbotham Insurance Agency, Inc. | TX | DC | 3,754 | $169M | $45,082 | $3 | $42.77 |
| Selectquote Retirement Plan | Selectquote Insurance Services | KS | DC | 3,741 | $140M | $37,360 | $2,763 | $72.24 |
| Westfield Employee Retirement Savings Plan | Ohio Farmers Insurance Company | OH | DC | 3,489 | $592M | $169,636 | $3,584 | $105 |
| Trucordia 401(k) Plan | Trucordia Insurance Services, LLC | UT | DC | 3,058 | $139M | $45,486 | $1,903 | $91.40 |
| Ima Financial Group, Inc. 401(k) Profit Sharing Plan and Trust | Ima Financial Group, Inc. | KS | DC | 3,041 | $317M | $104,314 | $4,376 | $189 |
| World Retirement Plan | World Insurance Associates LLC | NJ | DC | 2,985 | $149M | $49,990 | $2,825 | $13.53 |
| C.V. Starr & Co., Inc. Incentive Savings Plan | C.V. Starr & Co., Inc. | NY | DC | 2,862 | $487M | $170,094 | $7,185 | $70.14 |
| SWBC 401(k) Plan | Southwest Business Corporation | TX | DC | 2,708 | $275M | $101,541 | $2,309 | $109 |
| Foundation Risk Partners 401(k) Plan | Foundation Risk Partners Corp. | FL | DC | 2,650 | $187M | $70,431 | $2,321 | $45.37 |
| The Hilb Group Operating Company, LLC 401(k) Plan | The Hilb Group Operating Company, LLC | VA | DC | 2,556 | $179M | $69,887 | $3,191 | $138 |
| High Street Insurance Partners 401(k) Plan | High Street Insurance Partners, Inc. | MI | DC | 2,495 | $148M | $59,125 | $2,743 | $193 |
By plan size
By state
Questions and answers
How many retirement plans are there in insurance agencies & brokerages?
346 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 1,169 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 insurance agencies & brokerages?
The median defined contribution plan reported $87,274 in net assets per participant (middle half of plans: $47,541 to $138,402); 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 insurance agencies & brokerages?
The median defined contribution plan received $2,970 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 insurance agencies & brokerages?
Among defined contribution plans that report any Schedule C compensation, the median was $152 per participant and 0.19% 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.