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Industry · Form 5500 business code 525990
Other Financial Vehicles (including mortgage REITs & closed-end investment funds): 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.
80 retirement plans in other financial vehicles (including mortgage reits & closed-end investment funds) with 100 or more participants filed Form 5500 for plan year 2024 (74 defined contribution, 6 defined benefit). All Form 5500 pension filers in the group reported 89,683 participant records and $23.3B in net assets.
The median defined contribution plan held $70,717 per participant, well above the national median of $53,031, and its employer put in $4,773 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $127 per participant against $123 nationally.
Employers contributed $665M and participants $551M during the year, and the plans paid out $1.33B in benefits.
In 2009 the same group numbered 42 plans with $4.63B; by 2024 it was 80 plans (up 90%) and $23.3B (up 403%). 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 | $70,717 | $53,031 | $32,521 | $86,234 |
| Employer contributions per active participant | $4,773 | $2,174 | $5,599 | $10,244 |
| Schedule C compensation per participant | $127 | $123 | $505 | $344 |
| Schedule C compensation, share of net assets | 0.19% | 0.26% | 1.4% | 0.42% |
| Administrative expenses per participant | $146 | $116 | $480 | $527 |
Medians across plans with 100 or more participants (67 DC and 5 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 | $42,682 | $70,717 | $186,727 | 67 |
| Employer contributions per active participant | $2,422 | $4,773 | $9,231 | 61 |
| Schedule C compensation per participant | $72.20 | $127 | $227 | 64 |
| Administrative expenses per participant | $71.91 | $146 | $237 | 65 |
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 | 10 | 7,771 | $648M | $21.5M | $29.4M | $167,089 | $120 |
| 2024 | 80 | 89,683 | $23.3B | $665M | $551M | $70,717 | $127 |
| 2023 | 78 | 87,623 | $20.3B | $621M | $506M | $66,817 | $127 |
| 2022 | 76 | 85,318 | $17.1B | $582M | $465M | $52,098 | $117 |
| 2021 | 73 | 80,531 | $18.1B | $524M | $403M | $54,432 | $102 |
| 2020 | 74 | 74,730 | $17.5B | $490M | $374M | $40,528 | $116 |
| 2019 | 70 | 71,079 | $10.0B | $319M | $270M | $42,797 | $119 |
| 2018 | 64 | 79,690 | $12.6B | $417M | $300M | $41,257 | $97.61 |
| 2017 | 63 | 78,460 | $12.6B | $386M | $273M | $45,822 | $78.94 |
| 2016 | 62 | 76,901 | $10.7B | $356M | $252M | $41,726 | $52.37 |
| 2015 | 57 | 76,876 | $9.56B | $326M | $227M | $42,193 | $55.58 |
| 2014 | 53 | 71,379 | $9.35B | $320M | $210M | $40,586 | $49.49 |
| 2013 | 50 | 66,930 | $8.61B | $342M | $189M | $46,610 | $40.15 |
| 2012 | 47 | 70,936 | $6.92B | $319M | $173M | $41,098 | $38.08 |
| 2011 | 47 | 69,978 | $5.96B | $353M | $164M | $40,474 | $38.24 |
| 2010 | 41 | 66,589 | $5.64B | $315M | $150M | $33,736 | $46.41 |
| 2009 | 42 | 67,664 | $4.63B | $277M | $119M | $31,913 | $43.00 |
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 80 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 80 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| The Vanguard Retirement and Savings Plan | The Vanguard Group, Inc. | PA | DC | 26,679 | $11.1B | $415,489 | $17,800 | — |
| Capital Retirement Savings Plan | Capital Group Companies, Inc. | CA | DC | 12,306 | $8.15B | $662,044 | $26,412 | $2.46 |
| Ukpeagvik Inupiat Corporation Employees' Retirement Plan | Ukpeagvik Inupiat Corporation | AK | DC | 4,832 | $251M | $51,883 | $2,714 | $62.28 |
| Laborers District Council Defined Contribution Retirement Plan | Laborers District Council Defined Contribution Retirement Plan | MD | DC | 4,767 | $4.3M | $892 | $241 | $19.24 |
| Laborers District Council Pension and Disability Trust Fund No. 2 | Laborers District Council Pension and Disability Trust Fund No. 2 | MD | DB | 4,494 | $146M | $32,521 | $5,599 | $437 |
| Bridgewater Associates, LP 401(k) Plan | Bridgewater Associates, LP | CT | DC | 2,706 | $614M | $226,857 | $11,308 | $20.57 |
| Ares Retirement Savings Plan | Ares Management LLC | CA | DC | 2,530 | $519M | $204,961 | $7,915 | $71.25 |
| Asbestos Workers Locals 80 and 51 Supplemental Pension Plan | BD of Trustees Asbestos Workers Locals 80 and 51 Supplemental Pension | FL | DC | 2,312 | $50.7M | $21,913 | $2,572 | $161 |
| DP Fox Holdings 401(k) Plan | DP Fox Holdings, LLC | MI | DC | 2,255 | $113M | $50,053 | $1,458 | $161 |
| Midland Credit Management, Inc. 401(k) Retirement Savings Plan | Midland Credit Management, Inc. | CA | DC | 2,149 | $167M | $77,895 | $1,519 | $101 |
| Chime Financial 401(k) Plan | Chime Financial, Inc. | CA | DC | 1,813 | $157M | $86,332 | $5,700 | $18.98 |
| Planet Home Lending, LLC Profit Sharing Plan & Trust | Planet Home Lending, LLC | TX | DC | 1,537 | $57.9M | $37,671 | $1,081 | $112 |
| The J.G. Wentworth Company 401(k) Plan | The J.G. Wentworth Company, LLC | PA | DC | 1,105 | $50.1M | $45,318 | $1,972 | $126 |
| Gemini Space Station, LLC 401(k) Plan | Gemini Space Station, LLC | NY | DC | 849 | $45.1M | $53,073 | $5,274 | $38.15 |
| Vroom Automotive Finance Corporation 401(k) Plan | Vroom Automotive Finance Corp. | CA | DC | 808 | $29.2M | $36,162 | $1,862 | $219 |
| Bakers Local No 433 Pension Plan | Bakers' Local No 433 Pension Plan | SD | DB | 778 | $4.3M | $5,525 | — | $572 |
| Lone Peak Dental Group 401(k) Plan | LPMG Holdings, LLC | CO | DC | 777 | $1.0M | $1,334 | — | $5.95 |
| Exoduspoint Capital Management LP 401(k) Plan | Exoduspoint Capital Management LP | NY | DC | 586 | $60.9M | $103,880 | $10,536 | $152 |
| Two Harbors Investment Corp. 401(k) Plan | Two Harbors Investment Corp. | MN | DC | 563 | $23.9M | $42,433 | $2,568 | $128 |
| American Stock, Savings and Employee Trust | American Consulting Services, Inc. | MN | DC | 538 | $35.0M | $65,027 | — | — |
| Juno Investments & Esquared Hospitality 401(k) Plan | Juno Investments LLC | NY | DC | 521 | $17.8M | $34,240 | $1,280 | $194 |
| Employees' Thrift Plan of the American Bankers Association | American Bankers Association | DC | DC | 516 | $198M | $383,512 | $19,976 | $113 |
| The Crown Capital Fund, LLC 401(k) Plan | The Crown Capital Fund, LLC | GA | DC | 485 | $21.9M | $45,088 | $1,682 | $119 |
| Berwind Corporation Employees' Retirement Plan | Berwind Corporation | PA | DB | 447 | $99.4M | $222,365 | $19,737 | $1,180 |
| University of Nebraska Foundation Defined Contribution Retirement Plan | University of Nebraska Foundation | NE | DC | 428 | $71.5M | $167,089 | $9,176 | $120 |
| Angel Oak Companies 401(k) Profit Sharing Plan | Angel Oak Companies LP | GA | DC | 407 | $28.8M | $70,717 | $2,422 | $35.15 |
| Cascade Financial Services 401(k) Plan | Southwest Stage Funding, LLC DBA Cascade Financial Services | AZ | DC | 342 | $14.0M | $40,954 | $1,493 | $188 |
| The Crowley Car Company Dealership Group 401(k) Plan & Trust | The Automotive Group, Inc. | CA | DC | 341 | $10.2M | $29,848 | — | $180 |
| Trend Health Partners, LLC 401(k) Plan | Trend Health Partners, LLC | MD | DC | 339 | $10.9M | $32,108 | $2,510 | $16.34 |
| Vermeer Southeast Sales & Services, Inc. Employee's Profit Sharing Plan | Vermeer Southeast Sales & Service, Inc. | FL | DC | 320 | $27.6M | $86,289 | $2,695 | $333 |
| Penreco Pension Plan | Calumet GP, LLC | IN | DB | 320 | $22.2M | $69,518 | — | — |
| Harrison Street Real Estate Capital 401(k) Profit Sharing Plan | Harrison Street Real Estate Capital, LLC | IL | DC | 313 | $49.8M | $159,138 | $6,724 | $332 |
| Symmetry Energy Solutions, LLC 401(k) Plan | Symmetry Energy Solutions, LLC | TX | DC | 308 | $42.8M | $138,939 | $16,609 | $375 |
| Pretium 401(k) Plan | Pretium Employer, LLC | NY | DC | 307 | $34.6M | $112,607 | $10,026 | $5.86 |
| Generate Capital Inc. 401(k) Plan | Generate Capital, PBC | CA | DC | 304 | $25.4M | $83,426 | $7,696 | $256 |
| Jacsten Holdings, LLC 401(k) Plan | Jacsten Holdings, LLC | WI | DC | 301 | $16.8M | $55,869 | $1,646 | $505 |
| Century Support Services 401(k) Plan | Century Support Services, LLC | PA | DC | 279 | $7.6M | $27,243 | $1,795 | $17.62 |
| Rosenthal & Rosenthal, Inc. 401(k) Plan | Rosenthal & Rosenthal Inc. | NY | DC | 267 | $57.1M | $213,819 | $11,437 | $83.25 |
| Local 76 Resort Hotel Industry Pension Plan | Board of Trustees Local 76 Resort Hotel Industry | NY | DB | 264 | −$13.2M | — | — | $252 |
| Varde Management, L.P. Retirement Savings Plan | Varde Management, L.P. | MN | DC | 261 | $59.2M | $226,847 | $9,231 | $182 |
By plan size
By state
Questions and answers
How many retirement plans are there in other financial vehicles (including mortgage reits & closed-end investment funds)?
80 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 177 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 other financial vehicles (including mortgage reits & closed-end investment funds)?
The median defined contribution plan reported $70,717 in net assets per participant (middle half of plans: $42,682 to $186,727); 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 other financial vehicles (including mortgage reits & closed-end investment funds)?
The median defined contribution plan received $4,773 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 other financial vehicles (including mortgage reits & closed-end investment funds)?
Among defined contribution plans that report any Schedule C compensation, the median was $127 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.