New Jersey › Professional, scientific and technical services › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
KPMG Pension Plan
Sponsored by KPMG LLP, Montvale, NJ
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, KPMG Pension Plan covered 71,845 participants and held $3.07B in net assets. The plan is a cash balance pension plan sponsored by KPMG LLP of Montvale, New Jersey.
Net assets came to $42,710 per participant, well below the $88,040 median for defined benefit plans with 25,000 or more participants and well below the $176,808 median for defined benefit 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.
Schedule C lists 12 service provider organisations paid $5,000 or more, with reported compensation of $8.2M: $114 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $24.1M. 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 $917M in 2009 to $3.07B in 2024 (up 235%), and participants from 38,339 to 71,845 (up 87%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $42,710 | $88,040 | $176,808 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $35,855 | $10,244 |
| Schedule C compensation per participant | $114 | $143 | $450 | $344 |
| Schedule C compensation, share of net assets | 0.27% | 0.26% | 0.30% | 0.42% |
| Administrative expenses per participant | $335 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), professional, scientific and technical services (277) 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 | 71,845 | $3.07B | $42,710 | — | — | $8.2M |
| 2023 | 72,825 | $3.16B | $43,421 | — | — | $9.0M |
| 2022 | 73,184 | $3.00B | $40,981 | — | — | $8.4M |
| 2021 | 73,953 | $4.06B | $54,838 | $170M | — | $5.0M |
| 2020 | 72,553 | $3.73B | $51,414 | $120M | — | $6.3M |
| 2019 | 68,519 | $3.25B | $47,387 | $389M | — | $6.1M |
| 2018 | 64,537 | $2.74B | $42,441 | $216M | — | $5.2M |
| 2017 | 61,624 | $2.49B | $40,451 | $265M | — | $5.8M |
| 2016 | 58,506 | $2.22B | $37,908 | $300M | — | $3.8M |
| 2015 | 54,616 | $1.87B | $34,267 | $230M | — | $3.7M |
| 2014 | 50,554 | $1.74B | $34,437 | $138M | — | $3.4M |
| 2013 | 47,375 | $1.61B | $33,963 | $158M | — | $3.0M |
| 2012 | 45,076 | $1.45B | $32,217 | $99.0M | — | $2.6M |
| 2011 | 42,498 | $1.27B | $29,850 | $128M | — | $2.4M |
| 2010 | 39,465 | $1.09B | $27,621 | $106M | — | $2.7M |
| 2009 | 38,339 | $917M | $23,919 | $22.9M | — | $2.4M |
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$3,162,117,624
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$119,330,081
- Benefits paid$188,838,056
- Administrative expenses$24,098,025
- Total expenses$212,936,081
- Net income−$93,606,000
- Net transfers$0
- Net assets, end of year$3,068,511,624
Participants
- Active participants18,369
- Retired or separated, receiving benefits4,886
- Retired or separated, entitled to future benefits48,186
- Total participants, end of year71,845
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson | Actuarial; Recordkeeping and information management; Participant communication | $4,039,465 | $0 |
| Goldman Sachs Asset Management | Investment management | $1,205,543 | $0 |
| Pimco | Investment management | $907,390 | $0 |
| State Street Bank and Trust Company | Trustee (bank, trust company, or similar financial institution) | $494,032 | $0 |
| BlackRock Institutional Trust Co. | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $355,297 | $0 |
| Fidelity Institutional Asset MGMT | Investment management | $324,695 | $0 |
| William Blair Funds | Investment management | $304,057 | $0 |
| Wellington Management | Investment management | $205,659 | $0 |
| United Forms Finishing | Copying and duplicating | $161,239 | $0 |
| Grant Thornton | Accounting (including auditing) | $94,640 | $0 |
| State Street Global Advisors Trust | Custodial (securities) | $87,473 | $0 |
| Global Trust Company | Trustee (bank, trust company, or similar financial institution) | $11,284 | $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$16,912,054
- Actuarial fees$3,813,686
- Investment advisory and management fees$2,755,875
- Trustee and custodial fees$481,495
- IQPA audit fees$94,640
- Legal fees$40,275
- Total administrative expenses$24,098,025
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)$1.47B · 47.4%
- Common/collective trusts$1.28B · 41.5%
- U.S. Government securities$199M · 6.4%
- 103-12 investment entities$50.4M · 1.6%
- Other investments$39.2M · 1.3%
- Cash (interest and non-interest bearing)$38.3M · 1.2%
- Receivables$17.7M · 0.6%
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, $15,000,000
- 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 plan3BPlan covering self-employed individuals3FPlan 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 541211: Offices of Certified Public Accountants.
Other plans of KPMG LLP
| Plan | Participants | Net assets |
|---|---|---|
| KPMG 401(k) Capital Accumulation Plan | 55,312 | $10.5B |
| KPMG Partner Pension Plan | 3,267 | $1.86B |
| KPMG Partner Retirement Savings Plan | 2,601 | $524M |
| KPMG Personal Account for Retirement | 1,877 | $272M |
| KPMG Puerto Rico Capital Accumulation Plan | 180 | $24.3M |
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Ernst & Young Defined Benefit Retirement Plan | Ernst & Young U.S. LLP | 46,245 | $2.40B | $51,942 |
| Ernst & Young Inactive Defined Benefit Retirement Plan | Ernst & Young U.S. LLP | 38,877 | $2.16B | $55,514 |
| Ernst & Young Partnership Defined Benefit Retirement Plan | Ernst & Young U.S. LLP | 3,767 | $3.02B | $801,267 |
| KPMG Partner Pension Plan | KPMG LLP | 3,267 | $1.86B | $570,427 |
| SGS North America Inc. Pension Plan | SGS North America Inc. | 2,357 | $140M | $59,605 |
| Avis Rent a Car System, LLC Pension Plan | Avis Budget Group, Inc. | 1,461 | $87.5M | $59,902 |
Defined benefit plans in professional, scientific and technical services closest in size.
Questions and answers
How big is KPMG Pension Plan?
71,845 participants at the end of the plan year ending 31 Dec 2024, of whom 18,369 were active employees, with net assets of $3,068,511,624. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does KPMG LLP contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $8,190,774 in compensation to service provider organisations, $114 per participant or 0.27% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $24,098,025. 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 KPMG LLP. Recordkeeping or administration: Willis Towers Watson. Investment advisory or management: Goldman Sachs Asset Management, Pimco and BlackRock Institutional Trust Co.. Trustee or custodian: State Street Bank and Trust Company, BlackRock Institutional Trust Co. and State Street Global Advisors Trust. 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 13-5565207, plan 016, 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.