New York › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Cibc World Markets Retirement Plan for U.S. Employees
Sponsored by Canadian Imperial Bank of Commerce, 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.
Cibc World Markets Retirement Plan for U.S. Employees is a cash balance pension plan sponsored by Canadian Imperial Bank of Commerce of New York, New York. For the plan year ending 31 Oct 2025 it reported 1,225 participants, 263 of them active, and net assets of $111M.
Net assets came to $90,628 per participant, close to the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below 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.
Employer contributions were $0 for the year ($0 per active participant) and benefits paid were $6.6M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $207K: $169 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $345K. 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 $73.1M in 2009 to $111M in 2024 (up 52%), and participants from 1,627 to 1,225 (down 25%).
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 | $90,628 | $87,935 | $119,983 | $86,221 |
| Employer contributions per active participant | $0 | $10,593 | $7,849 | $10,244 |
| Schedule C compensation per participant | $169 | $325 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.19% | 0.41% | 0.32% | 0.42% |
| Administrative expenses per participant | $282 | $513 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 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 | 1,225 | $111M | $90,628 | $0 | $0 | $207K |
| 2023 | 1,276 | $109M | $85,103 | $0 | $0 | $158K |
| 2022 | 1,303 | $93.6M | $71,866 | — | — | $159K |
| 2021 | 1,332 | $94.9M | $71,211 | — | — | $258K |
| 2020 | 1,368 | $133M | $96,959 | — | — | $462K |
| 2019 | 1,413 | $122M | $86,519 | $0 | — | $404K |
| 2018 | 1,432 | $120M | $83,481 | $0 | — | $394K |
| 2017 | 1,359 | $105M | $77,398 | $4.7M | — | $323K |
| 2016 | 1,322 | $108M | $81,431 | $8.0M | — | $383K |
| 2015 | 1,300 | $94.3M | $72,555 | $3.9M | — | $499K |
| 2014 | 1,286 | $88.8M | $69,054 | $6.2M | — | $1.0M |
| 2013 | 1,688 | $107M | $63,682 | $7.0M | — | $414K |
| 2012 | 1,684 | $95.8M | $56,872 | $7.8M | — | $601K |
| 2011 | 1,647 | $85.4M | $51,876 | $5.4M | — | $598K |
| 2010 | 1,642 | $76.2M | $46,387 | $3.3M | — | $587K |
| 2009 | 1,627 | $73.1M | $44,923 | $0 | — | $593K |
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$108,591,093
- Employer contributions$0
- Participant contributions$0
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$9,396,247
- Benefits paid$6,623,618
- Administrative expenses$345,016
- Total expenses$6,968,634
- Net income$2,427,613
- Net transfers$0
- Net assets, end of year$111,018,706
Participants
- Active participants263
- Retired or separated, receiving benefits390
- Retired or separated, entitled to future benefits531
- Total participants, end of year1,225
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial; Consulting (pension); Investment advisory (plan) | $53,000 | $0 |
| The Bank of New York Mellon | Trustee (bank, trust company, or similar financial institution) | $49,988 | $0 |
| Mercer | Actuarial; Consulting (pension); Investment advisory (plan) | $45,361 | $0 |
| Mayer Brown LLP | Legal | $38,150 | $0 |
| Alight Solutions | Plan Administrator | $20,982 | $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
- Other administrative expenses$128,876
- Investment advisory and management fees$72,361
- Trustee and custodial fees$49,810
- Legal fees$37,632
- Contract administrator fees$36,337
- Actuarial fees$20,000
- Total administrative expenses$345,016
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$88.9M · 80.0%
- Registered investment companies (mutual funds)$22.1M · 19.9%
- Cash (interest and non-interest bearing)$55K · 0.0%
- Receivables$2,427 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmErnst and Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- 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 related1CCash balance or similar plan1IFrozen plan3HPlan 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 522110: Commercial Banking.
Other plans of Canadian Imperial Bank of Commerce
| Plan | Participants | Net assets |
|---|---|---|
| Cibc Retirement Savings Plan for U.S. Employees | 5,370 | $1.35B |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Teachers Federal Credit Union Defined Benefit Plan | Teachers Federal Credit Union | 1,250 | $74.5M | $59,575 |
| Credit Agricole Corporate and Investment Bank Retirement Plan | Credit Agricole Corporate and Investment Bank | 1,190 | $162M | $136,397 |
| Retirement Income Plan of Utica Mutual Insurance Company | Utica Mutual Insurance Company | 1,274 | $375M | $294,381 |
| Financial Institutions, Inc. Pension Plan As a Member of the New York State Bankers Retirement System | Financial Institutions, Inc. | 1,163 | $67.7M | $58,214 |
| ING Financial Services LLC Retirement Plan | ING Financial Services LLC | 1,339 | $259M | $193,731 |
| New York Central Mutual Fire Insurance Company Retirement Income Plan | New York Central Mutual Fire Insurance Co. | 1,123 | $144M | $128,359 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Cibc World Markets Retirement Plan for U.S. Employees?
1,225 participants at the end of the plan year ending 31 Oct 2025, of whom 263 were active employees, with net assets of $111,018,706. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Canadian Imperial Bank of Commerce contribute per participant?
The filing reports $0 in employer contributions for the year, which is $0 per active participant; the median for plans of the same type and size was $10,593 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 $207,481 in compensation to service provider organisations, $169 per participant or 0.19% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $345,016. 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 Canadian Imperial Bank of Commerce. Recordkeeping or administration: Alight Solutions. Investment advisory or management: Willis Towers Watson US LLC and Mercer. Trustee or custodian: The Bank of New York Mellon. The financial statements were audited by Ernst and 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 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 12 Aug 2026. 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 13-1942440, plan 005, received 12 Aug 2026; 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.