Massachusetts › Management of companies (holding companies) › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
State Street Retirement Plan
Sponsored by State Street Corporation, Boston, MA
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. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
State Street Corporation of Boston, Massachusetts sponsors State Street Retirement Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 9,134 participants (2,824 active) and $861M in net assets.
Net assets came to $94,230 per participant, above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and close to the $94,230 median for defined benefit plans in management of companies (holding companies). The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $2.2M: $236 per participant, close to the same-size median of $232. Administrative expenses charged to the plan were $3.1M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $574M in 2009 to $861M in 2024 (up 50%), and participants from 14,462 to 9,134 (down 37%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $94,230 | $87,623 | $94,230 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $14,787 | $10,244 |
| Schedule C compensation per participant | $236 | $232 | $326 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $342 | $396 | $519 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), management of companies (holding companies) (97) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 9,134 | $861M | $94,230 | — | — | $2.2M |
| 2023 | 9,413 | $887M | $94,211 | — | — | $2.2M |
| 2022 | 9,659 | $850M | $88,035 | — | — | $2.4M |
| 2021 | 9,904 | $1.06B | $107,516 | — | — | $2.6M |
| 2020 | 10,173 | $1.07B | $105,538 | — | — | $2.4M |
| 2019 | 10,482 | $982M | $93,719 | — | — | $2.0M |
| 2018 | 10,789 | $848M | $78,556 | — | — | $2.6M |
| 2017 | 11,249 | $919M | $81,655 | — | — | $2.7M |
| 2016 | 11,506 | $843M | $73,291 | — | — | $2.0M |
| 2015 | 11,887 | $805M | $67,702 | — | — | $2.2M |
| 2014 | 12,156 | $845M | $69,535 | — | — | $3.6M |
| 2013 | 12,529 | $780M | $62,249 | — | — | $3.6M |
| 2012 | 13,094 | $761M | $58,140 | — | — | $2.8M |
| 2011 | 13,686 | $719M | $52,527 | $95.0M | — | $2.8M |
| 2010 | 14,009 | $615M | $43,915 | $0 | $0 | $2.1M |
| 2009 | 14,462 | $574M | $39,700 | $0 | — | $2.0M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$886,808,095
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$15,686,496
- Benefits paid$38,681,068
- Administrative expenses$3,120,767
- Total expenses$41,801,835
- Net income−$26,115,339
- Net transfers$0
- Net assets, end of year$860,692,756
Participants
- Active participants2,824
- Retired or separated, receiving benefits1,220
- Retired or separated, entitled to future benefits4,945
- Total participants, end of year9,134
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| State Street Global Advisors | Custodial (other than securities); Custodial (securities) | $1,355,200 | $0 |
| Fid Inv Inst Ops Co. | Recordkeeping fees; Account maintenance fees; Direct payment from the plan | $498,498 | $0 |
| Mercer | Actuarial | $216,206 | $0 |
| Ernst & Young, LLP | Accounting (including auditing) | $67,500 | $0 |
| John Hancock | Contract Administrator | $16,209 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$1,355,201
- Other administrative expenses$984,750
- Recordkeeping fees$496,934
- Actuarial fees$216,206
- IQPA audit fees$67,500
- Legal fees$176
- Total administrative expenses$3,120,767
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$807M · 93.2%
- Other investments$46.4M · 5.4%
- Receivables$5.3M · 0.6%
- Cash (interest and non-interest bearing)$4.3M · 0.5%
- Insurance company general account$2.8M · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmErnst & Young, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $200,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
3HPlan sponsor(s) is (are) a member(s) of a controlled group3IPlan requiring that all or part of employer contributions be invested and held in employer securities1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 551111: Offices of Bank Holding Companies.
Other plans of State Street Corporation
| Plan | Participants | Net assets |
|---|---|---|
| State Street Salary Savings Program | 21,533 | $6.53B |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Ledvance LLC Pension Plan | Ledvance LLC | 1,200 | $146M | $121,413 |
| Retirement Plan for Employees of the O'Connell Companies, Inc. | The Oconnell Companies, Inc. | 387 | $60.4M | $156,105 |
Defined benefit plans in management of companies (holding companies) closest in size.
Questions and answers
How big is State Street Retirement Plan?
9,134 participants at the end of the plan year ending 31 Dec 2024, of whom 2,824 were active employees, with net assets of $860,692,756. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does State Street Corporation contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $2,153,613 in compensation to service provider organisations, $236 per participant or 0.25% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $3,120,767. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is State Street Corporation. Recordkeeping or administration: Fid Inv Inst Ops Co. and John Hancock. Trustee or custodian: State Street Global Advisors. The financial statements were audited by Ernst & Young, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 7 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-2456637, plan 001, received 7 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.