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Industry · Form 5500 business code 531190
Lessors of Other Real Estate Property (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, 46 retirement plans in lessors of other real estate property (including equity reits) with 100 or more participants filed Form 5500: 44 defined contribution and 2 defined benefit. They reported 68,246 participant records and $6.37B in net assets, counting every plan on the form.
The median defined contribution plan held $75,688 per participant, well above the national median of $53,031, and its employer put in $2,896 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $112 per participant against $123 nationally.
Employers contributed $187M and participants $337M during the year, and the plans paid out $644M in benefits.
In 2009 the same group numbered 40 plans with $1.58B; by 2024 it was 46 plans (up 15%) and $6.37B (up 304%). 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 | $75,688 | $53,031 | $256,256 | $86,234 |
| Employer contributions per active participant | $2,896 | $2,174 | $292,362 | $10,244 |
| Schedule C compensation per participant | $112 | $123 | $989 | $344 |
| Schedule C compensation, share of net assets | 0.23% | 0.26% | 0.25% | 0.42% |
| Administrative expenses per participant | $109 | $116 | $1,088 | $527 |
Medians across plans with 100 or more participants (44 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 | $21,936 | $75,688 | $122,001 | 44 |
| Employer contributions per active participant | $1,003 | $2,896 | $5,245 | 44 |
| Schedule C compensation per participant | $44.43 | $112 | $289 | 44 |
| Administrative expenses per participant | $32.46 | $109 | $272 | 42 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2024 | 46 | 68,246 | $6.37B | $187M | $337M | $75,688 | $112 |
| 2023 | 41 | 63,342 | $5.42B | $141M | $299M | $65,361 | $131 |
| 2022 | 47 | 68,166 | $4.56B | $135M | $303M | $48,332 | $119 |
| 2021 | 52 | 66,086 | $5.40B | $158M | $274M | $54,798 | $109 |
| 2020 | 52 | 61,788 | $4.86B | $108M | $233M | $52,383 | $104 |
| 2019 | 50 | 52,311 | $4.17B | $117M | $178M | $41,351 | $97.34 |
| 2018 | 50 | 46,294 | $2.77B | $94.7M | $164M | $37,631 | $87.70 |
| 2017 | 49 | 43,495 | $2.85B | $75.0M | $148M | $32,369 | $83.75 |
| 2016 | 45 | 41,613 | $2.33B | $82.9M | $130M | $37,572 | $62.34 |
| 2015 | 44 | 38,061 | $2.04B | $72.1M | $116M | $31,392 | $57.29 |
| 2014 | 43 | 36,591 | $2.00B | $49.8M | $109M | $28,335 | $51.74 |
| 2013 | 44 | 36,334 | $1.97B | $45.3M | $101M | $29,648 | $47.38 |
| 2012 | 43 | 35,748 | $1.61B | $58.6M | $89.7M | $21,705 | $42.39 |
| 2011 | 39 | 34,420 | $1.39B | $43.3M | $80.0M | $25,403 | $33.82 |
| 2010 | 42 | 37,450 | $1.47B | $35.6M | $79.0M | $22,601 | $28.35 |
| 2009 | 40 | 46,570 | $1.58B | $46.6M | $97.4M | $19,802 | $30.98 |
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 46 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 46 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| First American Financial Corporation 401(k) Savings Plan | First American Financial Corporation | CA | DC | 17,155 | $2.86B | $166,454 | $5,269 | $85.73 |
| Brookfield 401(k) Savings Plan | Brookfield Asset Management LLC | OH | DC | 8,395 | $1.36B | $161,884 | $7,375 | $96.26 |
| RPM Living, LLC 401(k) Plan | RPM Living, LLC | TX | DC | 5,960 | $64.4M | $10,800 | $1,588 | $73.36 |
| Vacasa 401(k) Plan | Vacasa LLC | NV | DC | 5,274 | $116M | $22,006 | $1,824 | $50.21 |
| Equity Lifestyle Properties, Inc. Retirement Savings Plan | Equity Lifestyle Properties, Inc. | IL | DC | 4,076 | $87.1M | $21,380 | $940 | $6.11 |
| Sun Communities, Inc. 401(k) Plan | Sun Communities, Inc. | MI | DC | 3,856 | $83.5M | $21,652 | $953 | $101 |
| American Tower Retirement Savings Plan | American Tower Corporation | MA | DC | 3,510 | $523M | $148,946 | $4,767 | $49.25 |
| Mercy Housing, Inc. 403(b) Plan | Mercy Housing, Inc. | CO | DC | 2,389 | $96.4M | $40,339 | $2,417 | $110 |
| Digital Realty Trust, L.P. 401(k) Plan | Digital Realty Trust, L.P. | TX | DC | 2,280 | $301M | $132,181 | $5,471 | $29.96 |
| Dreamscape Companies 401(k) Plan | Dreamscape Companies LLC | NY | DC | 1,750 | $22.4M | $12,801 | $202 | $22.67 |
| Coremedical Group 401(k) Plan | CMG Cit Acquisition LLC | NH | DC | 1,458 | $29.4M | $20,178 | $695 | $64.69 |
| Link Logistics 401(k) Plan | Link Logistics Real Estate Holdco LLC | NY | DC | 1,290 | $96.8M | $75,007 | $8,448 | $100 |
| Welltower Inc. Retirement Plan and Trust | Welltower Inc. | OH | DC | 879 | $104M | $118,607 | $8,123 | $20.87 |
| Vantage Data Centers 401(k) Plan | Vantage Data Centers Management Company, LLC | CA | DC | 792 | $43.3M | $54,687 | $5,587 | $17.77 |
| Edgewood Companies 401(k) Plan | Edgewood Companies | NV | DC | 530 | $11.7M | $22,057 | $925 | $51.30 |
| The Shubert Organization, Inc. Employees Pension Plan | The Shubert Organization, Inc. | NY | DB | 499 | $200M | $401,759 | — | $989 |
| Sentral 401(k) Plan | Bhi Residential Corporation | CO | DC | 450 | $4.7M | $10,431 | $2,361 | $13.94 |
| Crexi 401(k) Plan | Commercial Real Estate Exchange, Inc. | CA | DC | 444 | $8.1M | $18,279 | $0 | $199 |
| Federal Realty Investment Trust Savings and Retirement 401(k) Plan | Federal Realty Op LP | MD | DC | 434 | $76.9M | $177,207 | $2,851 | $412 |
| North American Properties LLC Retirement Savings Plan | North American Properties LLC | OH | DC | 380 | $41.3M | $108,618 | $8,390 | $287 |
| Tunnell Companies, L.P. 401(k) Profit Sharing Plan | Tunnell Companies, LP | DE | DC | 353 | $21.9M | $61,927 | $3,613 | $319 |
| Stonetown Capital Group 401(k) Plan | Stonetown Capital Group LLC | CO | DC | 347 | $7.5M | $21,725 | $1,543 | $24.38 |
| First Colony Mortgage Corp. Profit Sharing Plan | First Colony Mortgage Corp. | UT | DC | 343 | $23.3M | $68,059 | $1,020 | $595 |
| Buckingham Property Management 401(k) Plan | Buckingham Property Management | CA | DC | 318 | $10.4M | $32,564 | $2,940 | $327 |
| Rexford Industrial Realty & Management, Inc. 401(k) Plan | Rexford Industrial Realty, Inc. | CA | DC | 293 | $14.3M | $48,966 | $1,490 | $24.53 |
| Ethan Conrad Properties, Inc. 401(k) Profit Sharing Plan & Trust | Ethan Conrad Properties, Inc. | CA | DC | 292 | $5.8M | $19,758 | $3,088 | $76.71 |
| Affinius Capital 401(k) Plan | Affinius Capital LLC | TX | DC | 282 | $121M | $427,806 | $26,422 | $359 |
| Selig Enterprises, Inc. Savings & Profit Sharing Plan | Selig Enterprises, Inc. | GA | DC | 277 | $47.7M | $172,171 | $3,017 | $122 |
| Fowler Property Acquisitions, LLC Retirement Savings Plan | Fowler Property Acquisitions, LLC | CA | DC | 265 | $22.2M | $83,849 | $2,047 | $410 |
| A&b Individual Deferred Compensation and Profit Sharing Plan for Salaried Non-Bargaining Employees | Alexander & Baldwin, LLC, Series T | HI | DC | 247 | $64.7M | $261,960 | $15,859 | $441 |
| First Industrial, L.P. 401(k) Plan | First Industrial, L.P. | IL | DC | 236 | $69.4M | $293,998 | $9,789 | $10.75 |
| Wynne Building Corporation 401(k) Plan | Wynne Building Corporation | FL | DC | 220 | $2.3M | $10,520 | $463 | $18.34 |
| Maryland Management Company 401(k) Profit Sharing Plan | The Maryland Management Company | MD | DC | 217 | $16.6M | $76,368 | $639 | $296 |
| Carr Properties 401(k) Retirement Plan | Carr Properties Services Subsidiary Corporation | DC | DC | 198 | $21.4M | $107,925 | $5,083 | $499 |
| Christian Brothers Automotive 401(k) Plan | Christian Brothers Automotive Corporation | TX | DC | 196 | $15.3M | $78,188 | $6,222 | $185 |
| Acadia Realty Trust 401(k) Savings and Retirement Plan | Acadia Realty Limited Partnership | NY | DC | 194 | $34.1M | $175,773 | $4,232 | $126 |
| Aronov 401(k) Plan | Aronov Realty Management, Inc. | AL | DC | 186 | $15.8M | $84,701 | $695 | $273 |
| Caldwell Companies 401(k) Profit Sharing Plan | Caldwell Watson Real Estate Group, Inc. | TX | DC | 182 | $16.1M | $88,569 | $2,024 | $223 |
| Landmark Dividend LLC 401(k) Plan | Landmark Dividend LLC | CA | DC | 177 | $15.8M | $88,999 | $4,032 | $398 |
| Christian Brothers Automotive Corporation Employee Stock Ownership Plan | Christian Brothers Automotive Corporation | TX | DC | 168 | $134M | $796,509 | $33,605 | $237 |
By plan size
By state
Questions and answers
How many retirement plans are there in lessors of other real estate property (including equity reits)?
46 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 143 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 other real estate property (including equity reits)?
The median defined contribution plan reported $75,688 in net assets per participant (middle half of plans: $21,936 to $122,001); 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 other real estate property (including equity reits)?
The median defined contribution plan received $2,896 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 other real estate property (including equity reits)?
Among defined contribution plans that report any Schedule C compensation, the median was $112 per participant and 0.23% 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.