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Industry · Form 5500 business code 531110
Lessors of Residential Buildings & Dwellings (including equity REITs): 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, 214 retirement plans in lessors of residential buildings & dwellings (including equity reits) with 100 or more participants filed Form 5500: 212 defined contribution and 2 defined benefit. They reported 321,332 participant records and $7.06B in net assets, counting every plan on the form.
The median defined contribution plan held $30,549 per participant, well below the national median of $53,031, and its employer put in $1,529 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $133 per participant against $123 nationally.
Employers contributed $221M and participants $546M during the year, and the plans paid out $710M in benefits.
In 2009 the same group numbered 164 plans with $1.16B; by 2024 it was 214 plans (up 30%) and $7.06B (up 507%). 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 | $30,549 | $53,031 | $54,364 | $86,234 |
| Employer contributions per active participant | $1,529 | $2,174 | $2,031 | $10,244 |
| Schedule C compensation per participant | $133 | $123 | $268 | $344 |
| Schedule C compensation, share of net assets | 0.44% | 0.26% | 0.87% | 0.42% |
| Administrative expenses per participant | $129 | $116 | $320 | $527 |
Medians across plans with 100 or more participants (211 DC and 2 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 | $18,587 | $30,549 | $52,379 | 211 |
| Employer contributions per active participant | $846 | $1,529 | $2,431 | 202 |
| Schedule C compensation per participant | $67.58 | $133 | $235 | 203 |
| Administrative expenses per participant | $61.24 | $129 | $222 | 208 |
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 | 31 | 32,113 | $1.90B | $45.6M | $112M | $50,748 | $108 |
| 2024 | 214 | 321,332 | $7.06B | $221M | $546M | $30,549 | $133 |
| 2023 | 214 | 292,422 | $6.05B | $198M | $494M | $26,694 | $119 |
| 2022 | 243 | 293,892 | $5.17B | $183M | $466M | $21,256 | $100 |
| 2021 | 225 | 269,625 | $5.52B | $145M | $380M | $25,531 | $105 |
| 2020 | 217 | 250,592 | $4.77B | $134M | $340M | $22,302 | $92.52 |
| 2019 | 204 | 247,397 | $4.07B | $121M | $317M | $20,707 | $86.03 |
| 2018 | 197 | 121,416 | $2.99B | $115M | $252M | $17,139 | $68.98 |
| 2017 | 190 | 122,969 | $3.29B | $115M | $218M | $20,029 | $60.06 |
| 2016 | 181 | 108,731 | $2.38B | $93.7M | $192M | $18,169 | $54.62 |
| 2015 | 183 | 110,570 | $2.14B | $79.1M | $177M | $16,618 | $41.66 |
| 2014 | 180 | 107,742 | $2.11B | $67.4M | $146M | $17,175 | $35.74 |
| 2013 | 181 | 107,675 | $1.83B | $54.1M | $126M | $14,582 | $31.98 |
| 2012 | 174 | 94,819 | $1.53B | $50.2M | $114M | $12,999 | $30.47 |
| 2011 | 166 | 86,450 | $1.30B | $37.0M | $99.0M | $11,593 | $32.51 |
| 2010 | 161 | 90,254 | $1.35B | $40.1M | $94.3M | $11,894 | $28.59 |
| 2009 | 164 | 99,671 | $1.16B | $43.1M | $96.3M | $9,838 | $29.38 |
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 217 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 217 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Randstad North America 401(k) Plan | Randstad North America | GA | DC | 90,250 | $674M | $7,471 | $51 | $10.86 |
| Barrett Business Services, Inc. Retirement Savings Plan | Barrett Business Services, Inc. | WA | DC | 53,428 | $261M | $4,880 | $245 | $19.84 |
| Greystar 401(k) Plan | Greystar Management Services, LLC. | TX | DC | 37,076 | $757M | $20,429 | $1,624 | $52.23 |
| Lowe Enterprises, Inc. and Coraltree Hospitality Group LLC Employee 401(k) Plan | Lowe Enterprises, Inc. | CA | DC | 7,078 | $246M | $34,723 | $1,204 | $23.36 |
| Avalonbay Communities, Inc. Associates Savings Plan | Avalonbay Communities, Inc. | VA | DC | 4,520 | $443M | $97,997 | $2,968 | $68.91 |
| Cortland Holdings, LLC 401(k) Plan | Cortland Holdings, LLC | GA | DC | 3,580 | $57.1M | $15,956 | $586 | $79.75 |
| Equity Residential Advantage Retirement Savings Plan | Equity Residential | IL | DC | 3,574 | $372M | $104,177 | $2,556 | $42.07 |
| Morgan Properties 401(k) Plan | Morgan Properties Payroll SVCS | PA | DC | 3,370 | $78.0M | $23,143 | $1,164 | $70.52 |
| Edward Rose Building Enterprise 401(k) Plan | Edward Rose Building Enterprise, LLC | MI | DC | 3,128 | $105M | $33,434 | $1,226 | $45.09 |
| Grace Management 401(k) Plan | Grace Management, Inc. | MN | DC | 2,845 | $10.5M | $3,680 | $55 | $45.80 |
| Maa 401(k) Savings Plan | Mid-America Apartment Communities, Inc. | TN | DC | 2,841 | $169M | $59,578 | $2,445 | $109 |
| Bridge Investment Group 401(k) Retirement Plan | Bridge Investment Group Holdings LLC a Delaware LLC | UT | DC | 2,744 | $104M | $37,886 | $4,683 | $141 |
| Cardinal Group Management 401(k) Plan | Cardinal Group Management & Advisory LLC | CO | DC | 2,732 | $20.5M | $7,494 | $674 | $23.48 |
| ZRS Management, LLC 401(k) Profit Sharing Plan | ZRS Management, LLC | FL | DC | 2,616 | $60.1M | $22,971 | $1,471 | $28.27 |
| Bell Partners Inc. 401(k) Retirement Plan | Bell Partners Inc. | NC | DC | 2,419 | $59.2M | $24,492 | $1,533 | $59.30 |
| Highmark Residential 401(k) Plan | Highmark Residential, LLC | TX | DC | 2,411 | $34.3M | $14,217 | $849 | $76.85 |
| Ram Partners, LLC 401(k) Retirement Savings Plan | Ram Partners, LLC | GA | DC | 2,405 | $33.0M | $13,740 | $731 | $75.09 |
| Invitation Homes 401(k) Plan | THR Property Management, Lp/ DBA Invitation Homes | TX | DC | 2,165 | $66.4M | $30,652 | $1,806 | $38.18 |
| American Homes 4 Rent, L.P. 401(k) Plan | American Homes 4 Rent, L.P. | NV | DC | 1,924 | $65.4M | $33,970 | $2,433 | $88.97 |
| Mill Creek Residential Trust Resources LLC 401(k) Plan | Mill Creek Residential Trust LLC | TX | DC | 1,860 | $150M | $80,537 | $4,831 | $89.09 |
| Udr, Inc. 401(k) Plan | Udr, Inc. and Its Affiliated Companies | CO | DC | 1,796 | $114M | $63,463 | $1,673 | $78.39 |
| Hawthorne Residential Partners 401(k) Profit Sharing Plan & Trust | Hawthorne Residential Partners | NC | DC | 1,769 | $26.9M | $15,204 | $1,400 | $102 |
| Rangewater 401(k) Plan | Rangewater Real Estate, LLC | GA | DC | 1,701 | $44.8M | $26,314 | $1,964 | $178 |
| Gid Investment Advisers Savings & Retirement Plan | Gid Investment Advisers LLC | MA | DC | 1,681 | $163M | $96,731 | $3,030 | $210 |
| Intown Lessee Services, LLC 401(k) Salary Reduction Plan and Trust | Intown Lessee Services, LLC | GA | DC | 1,482 | $15.3M | $10,334 | $438 | $11.91 |
| The Inland Group, LLC Savings Plan | The Inland Group, LLC | IL | DC | 1,477 | $108M | $73,439 | $1,715 | $140 |
| Waterton 401(k) Profit Sharing Plan | Waterton Associates | IL | DC | 1,471 | $53.6M | $36,467 | $2,080 | $140 |
| Article Student Living 401(k) Plan | Article Student Living LLC | IL | DC | 1,436 | $17.2M | $11,992 | $1,602 | $70.63 |
| Orion Real Estate Services, Inc. 401(k) Plan | Orion Real Estate Services, Inc. | TX | DC | 1,339 | $11.1M | $8,285 | $369 | $89.94 |
| Apartment Employees' Pension Trust | Apartment Employees' Pension Trust | CA | DB | 1,274 | $31.5M | $24,715 | $4,061 | $383 |
| Alliance Residential Realty 401(k) Plan | Alliance Residential Realty LLC | AZ | DC | 1,218 | $103M | $84,852 | $2,676 | $243 |
| Multifamily Management Services LLC 401(k) Plan | Multifamily Management Services LLC | NY | DC | 1,207 | $14.4M | $11,916 | $301 | $92.76 |
| TSL 401(k) Plan | Tradition Management, LLC | TX | DC | 1,143 | $2.6M | $2,236 | — | — |
| Pedcor Companies 401(k) Plan | Pedcor Management Corp. | IN | DC | 1,142 | $49.8M | $43,633 | $681 | $140 |
| The Lightstone Group, LLC 401(k) Plan | The Lightstone Group, LLC | NY | DC | 1,058 | $40.4M | $38,180 | $2,727 | $150 |
| Amli Residential Properties 401(k) Plan | Amli Management Company | IL | DC | 1,051 | $79.5M | $75,660 | $1,957 | $133 |
| Holland Residential, LLC 401(k) Plan | Holland Residential, LLC | WA | DC | 1,026 | $68.7M | $67,004 | $3,478 | $144 |
| Sonder 401(k) Savings Plan | Sonder USA Inc. | CO | DC | 1,026 | $18.1M | $17,604 | $0 | $55.97 |
| Core Spaces 401(k) Plan | Core Campus, LLC | IL | DC | 1,006 | $18.9M | $18,825 | $2,109 | $93.26 |
| Firstkey Homes 401(k) Plan | Firstkey Homes LLC | GA | DC | 978 | $28.2M | $28,883 | $2,656 | $95.73 |
By plan size
By state
Questions and answers
How many retirement plans are there in lessors of residential buildings & dwellings (including equity reits)?
214 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 487 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 lessors of residential buildings & dwellings (including equity reits)?
The median defined contribution plan reported $30,549 in net assets per participant (middle half of plans: $18,587 to $52,379); 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 lessors of residential buildings & dwellings (including equity reits)?
The median defined contribution plan received $1,529 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 lessors of residential buildings & dwellings (including equity reits)?
Among defined contribution plans that report any Schedule C compensation, the median was $133 per participant and 0.44% 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.