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Industry · Form 5500 business code 611000
Educational Services (including schools, colleges, & universities): 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.
2,887 retirement plans in educational services (including schools, colleges, & universities) with 100 or more participants filed Form 5500 for plan year 2024 (2,812 defined contribution, 75 defined benefit). All Form 5500 pension filers in the group reported 4,204,164 participant records and $448.5B in net assets.
The median defined contribution plan held $72,833 per participant, well above the national median of $53,031, and its employer put in $2,837 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $95.64 per participant against $123 nationally.
Employers contributed $8.72B and participants $9.97B during the year, and the plans paid out $29.8B in benefits.
In 2009 the same group numbered 2,830 plans with $147.2B; by 2024 it was 2,887 plans (up 2%) and $448.5B (up 205%). 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 | $72,833 | $53,031 | $88,336 | $86,234 |
| Employer contributions per active participant | $2,837 | $2,174 | $9,921 | $10,244 |
| Schedule C compensation per participant | $95.64 | $123 | $341 | $344 |
| Schedule C compensation, share of net assets | 0.13% | 0.26% | 0.37% | 0.42% |
| Administrative expenses per participant | $89.26 | $116 | $465 | $527 |
Medians across plans with 100 or more participants (2,770 DC and 75 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 | $34,639 | $72,833 | $117,500 | 2,770 |
| Employer contributions per active participant | $1,402 | $2,837 | $4,856 | 2,591 |
| Schedule C compensation per participant | $41.80 | $95.64 | $165 | 2,516 |
| Administrative expenses per participant | $35.29 | $89.26 | $163 | 2,655 |
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 | 372 | 325,887 | $45.0B | $753M | $1.07B | $95,034 | $112 |
| 2024 | 2,887 | 4,204,164 | $448.5B | $8.72B | $9.97B | $72,833 | $95.64 |
| 2023 | 2,942 | 4,062,733 | $405.1B | $8.08B | $9.14B | $66,614 | $81.24 |
| 2022 | 3,206 | 3,963,528 | $357.6B | $7.65B | $8.34B | $54,881 | $72.57 |
| 2021 | 3,166 | 3,796,514 | $404.2B | $6.54B | $7.84B | $63,238 | $73.92 |
| 2020 | 3,173 | 3,627,730 | $370.6B | $6.24B | $7.33B | $61,268 | $62.48 |
| 2019 | 3,095 | 3,588,939 | $323.9B | $6.98B | $6.87B | $55,194 | $53.82 |
| 2018 | 3,026 | 3,572,825 | $282.8B | $6.67B | $6.56B | $50,570 | $43.64 |
| 2017 | 3,001 | 3,495,776 | $292.1B | $6.28B | $6.19B | $53,112 | $37.66 |
| 2016 | 2,958 | 3,425,405 | $256.7B | $6.10B | $5.78B | $48,580 | $29.44 |
| 2015 | 2,930 | 3,365,217 | $238.5B | $6.00B | $5.49B | $46,554 | $25.59 |
| 2014 | 2,900 | 3,312,742 | $233.8B | $5.56B | $5.17B | $47,078 | $24.15 |
| 2013 | 2,844 | 3,211,560 | $222.6B | $5.33B | $4.87B | $45,392 | $19.07 |
| 2012 | 2,833 | 3,154,240 | $190.1B | $5.27B | $4.62B | $39,669 | $15.30 |
| 2011 | 2,826 | 3,107,528 | $170.1B | $5.04B | $4.37B | $35,800 | $13.75 |
| 2010 | 2,809 | 2,988,507 | $168.6B | $4.84B | $4.18B | $35,494 | $14.20 |
| 2009 | 2,830 | 2,954,688 | $147.2B | $4.50B | $3.96B | $31,559 | $17.60 |
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 2,876 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 2,876 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Source 4 Solutions LLC 401(k) Profit Sharing Plan & Trust | Source 4 Solutions LLC | TN | DC | 111,833 | $10.2M | $91 | $4 | $0.30 |
| Vanderbilt University Medical Center Retirement Plan | Vanderbilt University Medical Center | TN | DC | 82,148 | $4.71B | $57,390 | $3,023 | $32.77 |
| The Duke University Faculty and Staff Retirement Plan | Duke University | NC | DC | 71,641 | $11.0B | $154,167 | $6,025 | $40.12 |
| Edustaff, LLC 401(k) Plan | Edustaff, LLC | MI | DC | 56,927 | $9.9M | $174 | — | $1.56 |
| University of Rochester Retirement Program | University of Rochester | NY | DC | 47,731 | $8.00B | $167,656 | $5,583 | $30.43 |
| University of Southern California Tax-Deferred Annuity Plan | University of Southern California | CA | DC | 46,627 | $4.82B | $103,337 | — | $12.32 |
| University of Southern California Defined Contribution Retirement Plan | University of Southern California | CA | DC | 44,381 | $5.01B | $112,948 | $11,268 | $12.90 |
| Stanford Contributory Retirement Plan | The Board of Trustees of the Leland Stanford Junior University | CA | DC | 43,741 | $12.6B | $287,331 | $11,002 | $35.63 |
| Johns Hopkins University 403(b) Plan | Johns Hopkins University Office of Benefits Services | MD | DC | 40,900 | $8.79B | $215,031 | $7,658 | $23.43 |
| Emory University Retirement Plan | Emory University Division of Human Resources | GA | DC | 40,652 | $5.54B | $136,274 | $5,810 | $6.29 |
| Columbia University Voluntary Retirement Savings Plan | Trustees of Columbia University | NY | DC | 40,437 | $4.71B | $116,458 | — | $29.63 |
| Employees' Retirement Plan of Duke University | Duke University | NC | DB | 40,202 | $2.78B | $69,271 | $1,339 | $133 |
| Washington University Retirement Savings Plan | Washington University in St. Louis | MO | DC | 40,001 | $7.48B | $187,062 | $5,859 | $34.10 |
| Harvard University Tax Deferred Annuity Plan | President & Fellows of Harvard College Harvard Human Resources, Benefi | MA | DC | 38,534 | $4.30B | $111,573 | $102 | $13.76 |
| University of Pennsylvania Basic Plan | Trustees of the University of PA | PA | DC | 38,449 | $2.00B | $51,904 | $5,153 | $13.38 |
| The University of Pennsylvania Matching Plan | Trustees of the University of PA | PA | DC | 35,700 | $6.99B | $195,708 | $4,657 | $13.86 |
| Supplemental Retirement Annuity Plan of the University of Pennsylvania | Trustees of the University of PA | PA | DC | 34,247 | $2.26B | $66,015 | — | $5.77 |
| Retirement Plan for Officers of Columbia University | Trustees of Columbia University | NY | DC | 34,090 | $5.64B | $165,543 | $14,200 | $27.68 |
| Jefferson Defined Contribution Retirement Plan | Thomas Jefferson University | PA | DC | 31,847 | $2.79B | $87,684 | $3,637 | $35.97 |
| Massachusetts Institute of Technology Basic Retirement Plan | Massachusetts Institute of Technology | MA | DB | 30,211 | $5.74B | $190,155 | — | $138 |
| Massachusetts Institute of Technology Supplemental 401(k) Plan | Massachusetts Institute of Technology | MA | DC | 27,513 | $8.87B | $322,353 | $6,066 | $6.98 |
| Cornell University Retirement Plan for the Employees of the Endowed Colleges at Ithaca | Cornell University | NY | DC | 27,192 | $3.02B | $111,091 | $5,463 | $15.15 |
| Yale University Retirement Account Plan | Yale University | CT | DC | 25,753 | $8.34B | $323,969 | $13,356 | $85.95 |
| Harvard University Defined Contribution Retirement Plan | President & Fellows of Harvard College Harvard Human Resources, Benefi | MA | DC | 25,749 | $2.03B | $78,986 | $8,327 | $17.35 |
| Northwestern University Retirement Plan | Northwestern University | IL | DC | 25,018 | $4.44B | $177,669 | $10,426 | $19.61 |
| Yale University Tax-Deferred 403(b) Savings Plan | Yale University | CT | DC | 24,635 | $874M | $35,476 | — | $12.14 |
| New York University Retirement Plan for Members of the Faculty, Professional Research Staff and Administration | New York University | NY | DC | 23,634 | $5.44B | $230,298 | $10,019 | $30.70 |
| Boston University Supplemental Retirement and Savings Plan | Trustees of Boston University | MA | DC | 23,049 | $1.74B | $75,317 | $8 | $14.32 |
| Caltech Base Retirement Plan | California Institute of Technology | CA | DC | 22,143 | $5.25B | $236,945 | $14,626 | $21.98 |
| Research Foundation of the City University of New York Defined Contribution Retirement Plan | Research Foundation of the City University of New York | NY | DC | 21,778 | $929M | $42,668 | $1,157 | $14.19 |
| Vanderbilt University Retirement Plan | Vanderbilt University | TN | DC | 21,641 | $2.51B | $115,814 | $3,975 | $30.55 |
| Baylor College of Medicine Section 403(b) | Baylor College of Medicine | TX | DC | 21,532 | $2.18B | $101,149 | — | $53.38 |
| Learning Care Group Retirement Savings Plan | La Petite Academy, Inc. | MI | DC | 20,538 | $101M | $4,926 | $119 | $19.20 |
| Nyu Grossman School of Medicine Management and Staff 403(b) Retirement Plan | New York University | NY | DC | 20,091 | $1000M | $49,753 | $2,981 | $12.48 |
| University of Miami Retirement Savings Plan | University of Miami | FL | DC | 19,738 | $2.07B | $104,932 | $8,404 | $67.32 |
| Northwestern University Voluntary Savings Plan | Northwestern University | IL | DC | 19,704 | $1.22B | $61,788 | — | $7.43 |
| Carnegie Mellon University Faculty and Staff Retirement Plan | Carnegie Mellon University | PA | DC | 19,247 | $2.82B | $146,399 | $3,864 | $25.59 |
| Georgetown University Voluntary Contribution Retirement Plan | Georgetown University | DC | DC | 18,822 | $979M | $52,021 | — | $3.29 |
| The University of Chicago Retirement Income Plan | The University of Chicago | IL | DB | 18,531 | $1.28B | $69,334 | $4,470 | $23.27 |
| Cornell University Tax-Deferred Annuity Plan | Cornell University | NY | DC | 18,312 | $2.43B | $132,834 | — | $16.71 |
By plan size
By state
Questions and answers
How many retirement plans are there in educational services (including schools, colleges, & universities)?
2,887 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 3,744 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 educational services (including schools, colleges, & universities)?
The median defined contribution plan reported $72,833 in net assets per participant (middle half of plans: $34,639 to $117,500); 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 educational services (including schools, colleges, & universities)?
The median defined contribution plan received $2,837 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 educational services (including schools, colleges, & universities)?
Among defined contribution plans that report any Schedule C compensation, the median was $95.64 per participant and 0.13% 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.