Rhode Island › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Factory Mutual Insurance Company Pension Plan
Sponsored by Factory Mutual Insurance Company, Johnston, RI
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.
In the plan year ending 31 Dec 2024, Factory Mutual Insurance Company Pension Plan covered 8,907 participants and held $2.98B in net assets. The plan is a defined benefit pension plan sponsored by Factory Mutual Insurance Company of Johnston, Rhode Island.
Net assets came to $335,075 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well above the $119,983 median for defined benefit plans in finance and insurance. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $10.3M: $1,157 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $10.9M. 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 $1.11B in 2009 to $2.98B in 2024 (up 170%), and participants from 8,861 to 8,907 (up 1%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $335,075 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $1,157 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.34% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $1,219 | $396 | $433 | $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), finance and insurance (690) 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 | 8,907 | $2.98B | $335,075 | — | — | $10.3M |
| 2023 | 8,850 | $2.86B | $322,773 | — | — | $11.5M |
| 2022 | 8,687 | $2.63B | $302,682 | — | — | $7.5M |
| 2021 | 8,736 | $3.34B | $382,080 | — | — | $5.2M |
| 2020 | 8,694 | $3.05B | $351,341 | — | — | $4.4M |
| 2019 | 8,586 | $2.72B | $316,566 | — | — | $3.2M |
| 2018 | 9,509 | $2.37B | $249,538 | — | — | $2.3M |
| 2017 | 9,499 | $2.54B | $267,561 | — | — | $1.5M |
| 2016 | 9,367 | $2.28B | $243,309 | — | — | $1.6M |
| 2015 | 9,320 | $2.17B | $232,468 | — | — | $2.0M |
| 2014 | 9,168 | $2.22B | $241,666 | — | — | $2.3M |
| 2013 | 9,033 | $2.10B | $232,982 | — | — | $2.1M |
| 2012 | 9,005 | $1.80B | $199,830 | — | — | $2.4M |
| 2011 | 8,947 | $1.65B | $184,081 | $231M | — | $2.2M |
| 2010 | 8,892 | $1.44B | $162,325 | $229M | — | $1.8M |
| 2009 | 8,861 | $1.11B | $124,914 | $152M | — | $2.1M |
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$2,856,541,287
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$246,916,019
- Benefits paid$108,085,763
- Administrative expenses$10,861,589
- Total expenses$118,947,352
- Net income$127,968,667
- Net transfers$0
- Net assets, end of year$2,984,509,954
Participants
- Active participants3,786
- Retired or separated, receiving benefits3,331
- Retired or separated, entitled to future benefits1,234
- Total participants, end of year8,907
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wellington Management Company LLP | Investment management | $1,248,699 | $0 |
| Arrowstreet Capital L.P. | Investment management | $977,757 | $0 |
| Great Hill Partners L.P. | Investment management | $599,575 | $0 |
| Blackstone Inc. | Investment management | $450,000 | $0 |
| Audax Management Co. LLC | Investment management | $417,916 | $0 |
| Nisa Investment Advisors, LLC | Investment management | $417,130 | $0 |
| Fiduciary Asset Management LLC | Investment management | $415,915 | $0 |
| JP Morgan Chase Bank | Custodial (other than securities); Other services | $412,192 | $0 |
| Brookfield Asset Management | Investment management | $394,118 | $0 |
| LSV Asset Management | Investment management | $390,779 | $0 |
| Pacific Investment Management Compa | Investment management | $385,339 | $0 |
| Apollo Capital Management L.P. | Investment management | $352,803 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$8,933,534
- Other administrative expenses$895,095
- Trustee and custodial fees$412,192
- Actuarial fees$298,153
- Recordkeeping fees$293,901
- Legal fees$28,714
- Total administrative expenses$10,861,589
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$1.26B · 41.7%
- Partnership/joint venture interests$529M · 17.5%
- Registered investment companies (mutual funds)$335M · 11.1%
- Corporate debt instruments$296M · 9.8%
- Corporate stocks$277M · 9.1%
- U.S. Government securities$212M · 7.0%
- Other investments$63.4M · 2.1%
- Cash (interest and non-interest bearing)$30.8M · 1.0%
- Receivables$23.4M · 0.8%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmErnst & Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $25,000,000
- Blackout period during the year—
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
1ABenefits are primarily pay related3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524150: Direct Insurance (except Life, Health & Medical) Carriers.
Other plans of Factory Mutual Insurance Company
| Plan | Participants | Net assets |
|---|---|---|
| Factory Mutual Insurance Company 401(k) Savings Plan | 5,707 | $1.92B |
Similar plans in Rhode Island
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| CFG Pension Plan | Citizens Financial Group, Inc. | 11,051 | $1.16B | $104,977 |
| Amica Pension Fund | Amica Mutual Insurance Company | 5,706 | $1.66B | $291,561 |
| UA of Plumbers & Pipefitters Local 51 Pension Plan | Board of Trustees, UA of Plumbers & Pipefitters Loc 51 | 1,581 | $127M | $80,560 |
| Investors Bank Pension Plan | Citizens Financial Group, Inc. | 1,150 | $146M | $127,310 |
| Pension Plan for Employees of Centreville Savings Bank | Centreville Savings Bank | 156 | $19.4M | $124,501 |
| The People's Credit Union Defined Benefit Plan and Trust | The People's Credit Union | 130 | $15.8M | $121,489 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Factory Mutual Insurance Company Pension Plan?
8,907 participants at the end of the plan year ending 31 Dec 2024, of whom 3,786 were active employees, with net assets of $2,984,509,954. 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 Factory Mutual Insurance Company 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 $10,306,514 in compensation to service provider organisations, $1,157 per participant or 0.34% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $10,861,589. 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 Factory Mutual Insurance Company. Investment advisory or management: Wellington Management Company LLP, Arrowstreet Capital L.P. and Great Hill Partners L.P.. Trustee or custodian: JP Morgan Chase Bank. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 13 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 05-0316605, plan 001, received 13 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.