New York › Finance and insurance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
The Goldman Sachs 401(k) Plan
Sponsored by The Goldman Sachs Group, 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.
In the plan year ending 31 Dec 2024, The Goldman Sachs 401(k) Plan covered 49,526 participants and held $12.8B in net assets. The plan is a 401(k) plan sponsored by The Goldman Sachs Group, Inc. of New York, New York.
Net assets came to $257,605 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 $201M during the year, or $8,403 per active participant against a same-size median of $2,417; participants contributed $351M and $43.1M arrived as rollovers and other contributions. Benefits paid out totalled $906M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $16.1M: $325 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $16.1M. 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 $4.47B in 2009 to $12.8B in 2024 (up 185%), and participants from 26,560 to 49,526 (up 86%).
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 | $257,605 | $62,774 | $92,294 | $53,102 |
| Employer contributions per active participant | $8,403 | $2,417 | $3,564 | $2,175 |
| Schedule C compensation per participant | $325 | $36.41 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.13% | 0.07% | 0.17% | 0.26% |
| Administrative expenses per participant | $325 | $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 | 49,526 | $12.8B | $257,605 | $201M | $351M | $16.1M |
| 2023 | 48,550 | $11.3B | $232,215 | $207M | $346M | $14.1M |
| 2022 | 48,260 | $9.61B | $199,147 | $212M | $307M | $15.0M |
| 2021 | 44,272 | $11.3B | $255,681 | $144M | $262M | $16.4M |
| 2020 | 39,641 | $9.37B | $236,485 | $127M | $238M | $18.5M |
| 2019 | 39,451 | $8.46B | $214,376 | $117M | $217M | $12.2M |
| 2018 | 37,619 | $6.99B | $185,783 | $108M | $201M | $14.9M |
| 2017 | 35,270 | $7.54B | $213,697 | $105M | $185M | $13.4M |
| 2016 | 33,594 | $6.73B | $200,449 | $104M | $187M | $18.5M |
| 2015 | 32,997 | $6.42B | $194,647 | $99.5M | $181M | $22.2M |
| 2014 | 31,245 | $6.62B | $211,798 | $96.2M | $170M | $25.6M |
| 2013 | 30,178 | $6.32B | $209,423 | $96.8M | $167M | $45.5M |
| 2012 | 29,033 | $5.40B | $185,896 | $90.5M | $157M | $5.2M |
| 2011 | 28,835 | $4.91B | $170,287 | $94.9M | $168M | $4.0M |
| 2009 | 26,560 | $4.47B | $168,379 | $79.3M | $137M | $10.3M |
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$11,274,025,293
- Employer contributions$200,759,266
- Participant contributions$350,720,176
- Rollovers and other contributions$43,066,675
- Total contributions$594,546,117
- Total income, including investment results$2,405,962,047
- Benefits paid$905,713,208
- Administrative expenses$16,117,465
- Total expenses$921,850,461
- Net income$1,484,111,586
- Net transfers$0
- Net assets, end of year$12,758,136,879
Participants
- Active participants23,891
- Retired or separated, receiving benefits116
- Retired or separated, entitled to future benefits25,347
- Participants with account balances48,807
- Total participants, end of year49,526
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wellington Management Company LLP | Investment management | $3,347,480 | $0 |
| J.p.morgan Investment MGMT Inc. | Investment advisory (plan); Investment management | $2,633,677 | $0 |
| BlackRock Inst TR Company NA | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $2,030,058 | $0 |
| Victory Capital | Investment management | $1,728,596 | $0 |
| Artisan Partners Ltd. Partnership | Investment management | $1,195,174 | $0 |
| Diamond Hill Capital Management Inc. | Investment management | $1,061,502 | $0 |
| Harding Loevner LP | Investment management | $921,793 | $0 |
| Pimco | Investment management | $911,746 | $0 |
| Alight Solutions LLC | Recordkeeping and information management | $835,532 | $0 |
| Centersquare Investment Management | Investment management | $815,518 | $0 |
| PricewaterhouseCoopers LLP | Accounting (including auditing) | $206,032 | $0 |
| Bank of New York Mellon Corporation | Custodial (securities); Trustee (bank, trust company, or similar financial institution) | $184,729 | $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$14,994,105
- Recordkeeping fees$835,532
- IQPA audit fees$218,439
- Other administrative expenses$69,107
- Trustee and custodial fees$282
- Total administrative expenses$16,117,465
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$7.84B · 61.2%
- Corporate stocks$2.18B · 17.0%
- Registered investment companies (mutual funds)$1.37B · 10.7%
- Cash (interest and non-interest bearing)$353M · 2.8%
- Other investments$322M · 2.5%
- Employer securities$287M · 2.2%
- Receivables$219M · 1.7%
- Corporate debt instruments$115M · 0.9%
- U.S. Government securities$88.8M · 0.7%
- Participant loans$31.1M · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPricewaterhouseCoopers LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $250,000,000
- 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 plan2JCode section 401(k) feature2KCode section 401(m) arrangement2S401(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 group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 523110: Investment Banking & Securities Dealing.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Morgan Stanley 401(k) Plan | Morgan Stanley Domestic Holdings, LLC | 80,789 | $22.0B | $272,542 |
| Pentegra Defined Contribution Plan for Financial Institutions | Board of Directors of Pentegra Defined Contribution Plan | 45,161 | $2.26B | $50,049 |
| Paychex Pooled Employer 401(k) Plan | Paychex Retirement LLC | 661,036 | $1.77B | $2,675 |
| American Express Retirement Savings Plan | American Express Company and Its Participating Subsidiaries | 39,763 | $10.4B | $260,405 |
| Marsh & McLennan Companies 401(k) Savings and Investment Plan | Marsh & McLennan Companies, Inc. | 32,965 | $7.40B | $224,607 |
| M & T Bank Corporation Retirement Savings Plan | Manufacturers and Traders Trust Co. | 32,455 | $5.20B | $160,155 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is The Goldman Sachs 401(k) Plan?
49,526 participants at the end of the plan year ending 31 Dec 2024, of whom 23,891 were active employees, with net assets of $12,758,136,879. 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 The Goldman Sachs Group, Inc. contribute per participant?
The filing reports $200,759,266 in employer contributions for the year, which is $8,403 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 $16,114,847 in compensation to service provider organisations, $325 per participant or 0.13% 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 $16,117,465. 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 The Goldman Sachs Group, Inc.. Recordkeeping or administration: Alight Solutions LLC. Investment advisory or management: Wellington Management Company LLP, J.p.morgan Investment MGMT Inc. and BlackRock Inst TR Company NA. Trustee or custodian: BlackRock Inst TR Company NA and Bank of New York Mellon Corporation. The financial statements were audited by PricewaterhouseCoopers 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 15 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 13-4019460, plan 001, received 15 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.