New York › Professional, scientific and technical services › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
McKinsey & Company, Inc. (PSRP) Profit Sharing Retirement Plan
Sponsored by McKinsey & Company, Inc., 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.
McKinsey & Company, Inc. of New York, New York sponsors McKinsey & Company, Inc. (PSRP) Profit Sharing Retirement Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 35,298 participants (14,729 active) and $9.81B in net assets.
Net assets came to $277,927 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $73,951 median for defined contribution plans in professional, scientific and technical services. 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 $93.0M during the year, or $6,312 per active participant against a same-size median of $2,417; participants contributed $258M and $47.6M arrived as rollovers and other contributions. Benefits paid out totalled $589M.
Schedule C lists 10 service provider organisations paid $5,000 or more, with reported compensation of $2.1M: $59.53 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $1.9M. 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 $2.95B in 2009 to $9.81B in 2024 (up 233%), and participants from 18,066 to 35,298 (up 95%).
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 | $277,927 | $62,774 | $73,951 | $53,102 |
| Employer contributions per active participant | $6,312 | $2,417 | $3,219 | $2,175 |
| Schedule C compensation per participant | $59.53 | $36.41 | $148 | $123 |
| Schedule C compensation, share of net assets | 0.02% | 0.07% | 0.22% | 0.26% |
| Administrative expenses per participant | $53.86 | $38.81 | $140 | $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), professional, scientific and technical services (9,776) 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 | 35,298 | $9.81B | $277,927 | $93.0M | $258M | $2.1M |
| 2023 | 36,077 | $9.08B | $251,566 | $131M | $261M | $2.4M |
| 2022 | 35,140 | $8.00B | $227,548 | $114M | $212M | $2.2M |
| 2021 | 31,034 | $8.17B | $263,376 | $98.5M | $175M | $2.3M |
| 2020 | 27,944 | $6.80B | $243,299 | $88.1M | $141M | $2.3M |
| 2019 | 26,749 | $6.11B | $228,528 | $80.3M | $127M | $2.5M |
| 2018 | 25,552 | $5.17B | $202,143 | $72.2M | $134M | $2.1M |
| 2017 | 24,346 | $5.21B | $214,147 | $68.9M | $118M | $2.5M |
| 2016 | 22,741 | $4.71B | $206,896 | $77.2M | $96.8M | $2.1M |
| 2015 | 20,873 | $4.35B | $208,470 | $66.9M | $70.0M | $2.4M |
| 2014 | 19,874 | $4.24B | $213,230 | $62.3M | $241M | $2.3M |
| 2013 | 19,213 | $3.73B | $194,209 | $64.1M | $50.6M | $1.9M |
| 2012 | 18,719 | $3.51B | $187,711 | $60.4M | $48.8M | $2.1M |
| 2011 | 18,251 | $3.23B | $177,172 | $55.8M | $51.0M | $2.2M |
| 2010 | 17,827 | $3.12B | $174,802 | $55.3M | $43.3M | $1.4M |
| 2009 | 18,066 | $2.95B | $163,305 | $51.9M | $46.8M | $1.6M |
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$9,075,762,188
- Employer contributions$92,962,464
- Participant contributions$258,250,623
- Rollovers and other contributions$47,605,625
- Total contributions$398,818,712
- Total income, including investment results$1,241,827,847
- Benefits paid$589,423,194
- Administrative expenses$1,900,982
- Total expenses$591,747,728
- Net income$650,080,119
- Net transfers$84,427,373
- Net assets, end of year$9,810,269,680
Participants
- Active participants14,729
- Retired or separated, receiving benefits154
- Retired or separated, entitled to future benefits20,253
- Participants with account balances34,826
- Total participants, end of year35,298
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Contract Administrator | $988,475 | $0 |
| McKinsey & Company, Inc. | Plan Administrator; Recordkeeping and information management | $506,490 | $0 |
| Meketa Investment Group | Consulting (pension); Investment advisory (plan) | $187,367 | $0 |
| Bank of NY Mellon | Custodial (other than securities); Trustee (bank, trust company, or similar financial institution) | $124,827 | $0 |
| Grant Thornton LLC | Accounting (including auditing) | $83,800 | $0 |
| XPS Pension Consulting Ltd. | Consulting (pension) | $82,856 | $0 |
| Prokauer Rose LLP | Legal | $62,703 | $0 |
| SC Stone Consulting | Consulting (general) | $38,627 | $0 |
| Mercer | Consulting (pension) | $20,749 | $0 |
| Pension Benefit Information, LLC | Recordkeeping and information management | $5,373 | $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
- Contract administrator fees$988,475
- Salaries and allowances$506,490
- Investment advisory and management fees$187,367
- Trustee and custodial fees$124,827
- IQPA audit fees$83,800
- Legal fees$62,703
- Actuarial fees$20,749
- Other trustee fees and expenses$17,800
- Total administrative expenses$1,900,982
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$9.71B · 98.9%
- Receivables$92.9M · 0.9%
- Participant loans$17.1M · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmGrant Thornton LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 plan2HPartial participant-directed account plan2JCode section 401(k) feature3HPlan 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 541600: Management, Scientific, & Technical Consulting Services.
Other plans of McKinsey & Company, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| McKinsey & Company, Inc. (MPPP) Money Purchase Pension Plan | 29,024 | $2.15B |
| McKinsey & Company, Inc. Partner Cash Balance Plan | 1,366 | $521M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Interpublic Group of Companies, Inc. Savings Plan | The Interpublic Group of Companies, Inc. | 37,524 | $4.07B | $108,565 |
| McKinsey & Company, Inc. (MPPP) Money Purchase Pension Plan | McKinsey & Company, Inc. | 29,024 | $2.15B | $74,147 |
| The Savings and Investment Plan | WPP Group USA, Inc. | 41,591 | $4.71B | $113,260 |
| WSP USA Retirement Savings Plan | WSP USA Buildings Inc. | 23,617 | $3.32B | $140,455 |
| Omnicom Group Retirement Savings Plan | Omnicom Group Inc. | 42,833 | $4.47B | $104,358 |
| Bloomberg L.P. 401(k) Plan | Bloomberg L.P. | 20,110 | $5.73B | $285,094 |
Defined contribution plans in professional, scientific and technical services closest in size.
Questions and answers
How big is McKinsey & Company, Inc. (PSRP) Profit Sharing Retirement Plan?
35,298 participants at the end of the plan year ending 31 Dec 2024, of whom 14,729 were active employees, with net assets of $9,810,269,680. 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 McKinsey & Company, Inc. contribute per participant?
The filing reports $92,962,464 in employer contributions for the year, which is $6,312 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 $2,101,267 in compensation to service provider organisations, $59.53 per participant or 0.02% 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 $1,900,982. 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 McKinsey & Company, Inc.. Recordkeeping or administration: Alight Solutions LLC, McKinsey & Company, Inc. and Pension Benefit Information, LLC. Investment advisory or management: Meketa Investment Group. Trustee or custodian: Bank of NY Mellon. The financial statements were audited by Grant Thornton 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 10 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 13-1826332, plan 001, received 10 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.