Virginia › Manufacturing › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
General Dynamics Corporation 401(k) Qaca Plan
Sponsored by General Dynamics Corporation, Reston, VA
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, General Dynamics Corporation 401(k) Qaca Plan covered 45,227 participants and held $7.91B in net assets. The plan is an ESOP with a 401(k) feature sponsored by General Dynamics Corporation of Reston, Virginia.
Net assets came to $174,977 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $62,303 median for defined contribution plans in manufacturing. 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 $127M during the year, or $4,510 per active participant against a same-size median of $2,417; participants contributed $278M and $52.3M arrived as rollovers and other contributions. Benefits paid out totalled $768M.
Schedule C lists 9 service provider organisations paid $5,000 or more, with reported compensation of $2.4M: $53.77 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $2.4M. 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 $422M in 2016 to $7.91B in 2024 (up 1774%), and participants from 4,854 to 45,227 (up 832%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $174,977 | $62,774 | $62,303 | $53,102 |
| Employer contributions per active participant | $4,510 | $2,417 | $2,187 | $2,175 |
| Schedule C compensation per participant | $53.77 | $36.41 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.03% | 0.07% | 0.24% | 0.26% |
| Administrative expenses per participant | $53.77 | $38.81 | $131 | $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), manufacturing (11,377) 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 | 45,227 | $7.91B | $174,977 | $127M | $278M | $2.4M |
| 2023 | 45,028 | $7.28B | $161,585 | $121M | $265M | $2.2M |
| 2022 | 48,274 | $6.39B | $132,294 | $86.7M | $215M | $2.5M |
| 2021 | 38,896 | $4.33B | $111,275 | $89.3M | $218M | $2.2M |
| 2020 | 38,301 | $3.84B | $100,350 | $87.9M | $212M | $2.1M |
| 2019 | 31,788 | $3.43B | $107,874 | $42.1M | $111M | $1.2M |
| 2018 | 17,973 | $1.28B | $71,041 | $41.9M | $109M | $1.2M |
| 2017 | 15,978 | $1.31B | $81,835 | $26.3M | $66.9M | $712K |
| 2016 | 4,854 | $422M | $86,994 | $13.5M | $34.1M | $259K |
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$7,275,854,569
- Employer contributions$126,796,759
- Participant contributions$277,596,636
- Rollovers and other contributions$52,315,696
- Total contributions$456,709,091
- Total income, including investment results$1,292,345,485
- Benefits paid$767,947,638
- Administrative expenses$2,431,868
- Total expenses$770,777,482
- Net income$521,568,003
- Net transfers$116,277,807
- Net assets, end of year$7,913,700,379
Participants
- Active participants28,117
- Retired or separated, receiving benefits772
- Retired or separated, entitled to future benefits16,235
- Participants with account balances43,639
- Total participants, end of year45,227
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Strategic Advisers, Inc. | Investment advisory (participants) | $1,014,920 | $0 |
| Fidelity Inv. Inst. Ops. Co. LLC | Contract Administrator; Recordkeeping and information management; Trustee (bank, trust company, or similar financial institution); Trustee (directed); Securities brokerage; Participant loan processing; Participant communication | $923,967 | $0 |
| KPMG LLP | Accounting (including auditing) | $181,845 | $0 |
| Jenner & Block LLP | Legal | $126,169 | $0 |
| Aon Consulting, Inc. | Consulting (pension); Other services | $87,252 | $0 |
| Newport Trust Company | Investment management; Other services | $69,118 | $0 |
| Crowe LLP | Accounting (including auditing); Consulting (general) | $18,869 | $0 |
| McConnell Valdes LLC | Legal | $9,728 | $0 |
| Wealth Management Systems, Inc. | Other services | $0 | $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$1,014,920
- Contract administrator fees$923,967
- IQPA audit fees$181,845
- Legal fees$135,897
- Other administrative expenses$106,121
- Trustee and custodial fees$69,118
- Total administrative expenses$2,431,868
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.
- Master trust investment accounts$7.73B · 97.6%
- Cash (interest and non-interest bearing)$101M · 1.3%
- Participant loans$77.5M · 1.0%
- Receivables$8.4M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmKPMG 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2IStock bonus2JCode section 401(k) feature2KCode section 401(m) arrangement2OESOP other than a leveraged ESOP2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 334200: Communications Equipment Mfg.
Other plans of General Dynamics Corporation
| Plan | Participants | Net assets |
|---|---|---|
| General Dynamics Corporation 401(k) Plan 6.0 | 68,452 | $12.4B |
| General Dynamics Retirement Plan (Government) | 28,661 | $2.68B |
| General Dynamics Retirement Plan (Electric Boat and Mission Systems) | 26,451 | $4.08B |
| General Dynamics Corporation 401(k) Plan for Represented Employees | 22,405 | $2.09B |
| General Dynamics Retirement Plan (Commercial) | 10,678 | $1.78B |
| General Dynamics Corporation 401(k) Plan 3.0 | 8,963 | $1.48B |
| General Dynamics Retirement Plan (Land Systems) | 5,515 | $535M |
| General Dynamics Retirement Plan (Bath Iron Works) | 4,847 | $429M |
Similar plans in Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Huntington Ingalls Industries Savings Plan | Huntington Ingalls Industries, Inc. | 48,186 | $6.91B | $143,301 |
| General Dynamics Corporation 401(k) Plan for Represented Employees | General Dynamics Corporation | 22,405 | $2.09B | $93,106 |
| Bae Systems Employees' Savings and Investment Plan | Bae Systems, Inc. | 58,830 | $12.0B | $204,098 |
| Huntington Ingalls Industries Financial Security and Savings Program | Huntington Ingalls Industries, Inc. | 17,135 | $517M | $30,174 |
| General Dynamics Corporation 401(k) Plan 6.0 | General Dynamics Corporation | 68,452 | $12.4B | $181,068 |
| General Dynamics Corporation 401(k) Plan 3.0 | General Dynamics Corporation | 8,963 | $1.48B | $164,633 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is General Dynamics Corporation 401(k) Qaca Plan?
45,227 participants at the end of the plan year ending 31 Dec 2024, of whom 28,117 were active employees, with net assets of $7,913,700,379. 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 General Dynamics Corporation contribute per participant?
The filing reports $126,796,759 in employer contributions for the year, which is $4,510 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 $2,431,868 in compensation to service provider organisations, $53.77 per participant or 0.03% 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 $2,431,868. 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 General Dynamics Corporation. Recordkeeping or administration: Fidelity Inv. Inst. Ops. Co. LLC. Investment advisory or management: Strategic Advisers, Inc. and Newport Trust Company. Trustee or custodian: Fidelity Inv. Inst. Ops. Co. LLC. The financial statements were audited by KPMG 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 30 Sep 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 13-1673581, plan 068, received 30 Sep 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.