New York › Finance and insurance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
TIAA Retirement Plan
Sponsored by Teachers Insurance and Annuity Association of America, New York, NY
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, TIAA Retirement Plan covered 29,832 participants and held $5.90B in net assets. The plan is a money purchase plan sponsored by Teachers Insurance and Annuity Association of America of New York, New York.
Net assets came to $197,899 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $92,294 median for defined contribution 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.
The employer contributed $151M during the year, or $12,991 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $186M.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $494K: $16.55 per participant, well below the same-size median of $36.41. Administrative expenses charged to the plan were $494K. 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 $1.70B in 2011 to $5.90B in 2024 (up 247%), and participants from 15,061 to 29,832 (up 98%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $197,899 | $62,774 | $92,294 | $53,102 |
| Employer contributions per active participant | $12,991 | $2,417 | $3,564 | $2,175 |
| Schedule C compensation per participant | $16.55 | $36.41 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.01% | 0.07% | 0.17% | 0.26% |
| Administrative expenses per participant | $16.55 | $38.81 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 plans), finance and insurance (4,391) and all US plans (63,460). 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 | 29,832 | $5.90B | $197,899 | $151M | — | $494K |
| 2023 | 29,642 | $5.25B | $177,278 | $156M | — | $422K |
| 2022 | 28,494 | $4.54B | $159,443 | $146M | — | $95K |
| 2021 | 27,674 | $5.19B | $187,629 | $135M | — | $45K |
| 2020 | 26,961 | $4.51B | $167,309 | $151M | — | $40K |
| 2019 | 26,592 | $3.89B | $146,142 | $157M | — | $31K |
| 2018 | 25,936 | $3.20B | $123,265 | $159M | — | $231K |
| 2017 | 21,879 | $3.29B | $150,291 | $126M | — | $350K |
| 2016 | 20,418 | $2.80B | $137,323 | $109M | — | $56K |
| 2015 | 19,597 | $2.58B | $131,897 | $111M | — | $35K |
| 2013 | 16,978 | $2.31B | $136,296 | $78.6M | — | $21K |
| 2012 | 15,918 | $1.93B | $121,490 | $75.4M | — | $12K |
| 2011 | 15,061 | $1.70B | $112,931 | $66.6M | — | $11K |
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$5,254,874,957
- Employer contributions$150,659,859
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$150,659,859
- Total income, including investment results$835,521,212
- Benefits paid$186,184,102
- Administrative expenses$493,781
- Total expenses$186,677,883
- Net income$648,843,329
- Net transfers$0
- Net assets, end of year$5,903,718,286
Participants
- Active participants11,597
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits18,157
- Participants with account balances29,750
- Total participants, end of year29,832
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Mesirow Financial Inc. | Investment management | $464,673 | $0 |
| TIAA | Recordkeeping and information management; Consulting (pension); Investment advisory (plan); Investment management; Participant communication | $29,074 | $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$493,781
- Total administrative expenses$493,781
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.
- Registered investment companies (mutual funds)$2.61B · 44.1%
- Common/collective trusts$1.63B · 27.7%
- Insurance company general account$1.24B · 21.1%
- Pooled separate accounts$281M · 4.8%
- Other investments$138M · 2.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmPricewaterhouse Coopers LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $50,000,000
- 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
2AAge/service weighted or new comparability or similar plan2CMoney purchase (other than target benefit) plan2FERISA section 404(c) plan2GTotal participant-directed account plan2RParticipant-directed brokerage accounts provided as an investment option under the plan2TTotal or partial participant-directed account plan with a default investment account3HPlan 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 525100: Insurance & Employee Benefit Funds.
Other plans of Teachers Insurance and Annuity Association of America
| Plan | Participants | Net assets |
|---|---|---|
| TIAA Code Section 401(k) Plan | 26,753 | $4.62B |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| M & T Bank Corporation Retirement Savings Plan | Manufacturers and Traders Trust Co. | 32,455 | $5.20B | $160,155 |
| TIAA Code Section 401(k) Plan | Teachers Insurance and Annuity Association of America | 26,753 | $4.62B | $172,856 |
| Marsh & McLennan Companies 401(k) Savings and Investment Plan | Marsh & McLennan Companies, Inc. | 32,965 | $7.40B | $224,607 |
| American International Group, Inc. Incentive Savings Plan | American International Group, Inc. | 19,931 | $4.48B | $224,786 |
| American Express Retirement Savings Plan | American Express Company and Its Participating Subsidiaries | 39,763 | $10.4B | $260,405 |
| Barclays 401(k) Plan | Barclays Services Corporation | 19,531 | $3.55B | $182,017 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is TIAA Retirement Plan?
29,832 participants at the end of the plan year ending 31 Dec 2024, of whom 11,597 were active employees, with net assets of $5,903,718,286. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Teachers Insurance and Annuity Association of America contribute per participant?
The filing reports $150,659,859 in employer contributions for the year, which is $12,991 per active participant; the median for plans of the same type and size was $2,417 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $493,747 in compensation to service provider organisations, $16.55 per participant or 0.01% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $493,781. 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 Teachers Insurance and Annuity Association of America. Recordkeeping or administration: TIAA. Investment advisory or management: Mesirow Financial Inc. and TIAA. The financial statements were audited by Pricewaterhouse Coopers 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 13-1624203, 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.