New York › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Equitable Retirement Plan
Sponsored by Equitable Financial Life Insurance Company, Syracuse, 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.
Equitable Retirement Plan is a cash balance pension plan sponsored by Equitable Financial Life Insurance Company of Syracuse, New York. For the plan year ending 31 Dec 2024 it reported 14,409 participants, 2,246 of them active, and net assets of $1.72B.
Net assets came to $119,411 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and close to 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.
Schedule C lists 12 service provider organisations paid $5,000 or more, with reported compensation of $10.4M: $725 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $6.4M. 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 $2.13B in 2010 to $1.72B in 2024 (down 19%), and participants from 27,542 to 14,409 (down 48%).
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 | $119,411 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $725 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.61% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $441 | $396 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 14,409 | $1.72B | $119,411 | — | — | $10.4M |
| 2023 | 14,958 | $1.79B | $119,830 | — | — | $11.2M |
| 2022 | 15,500 | $1.82B | $117,123 | — | — | $12.7M |
| 2021 | 16,141 | $2.40B | $148,746 | — | — | $13.4M |
| 2020 | 16,709 | $2.35B | $140,426 | — | — | $11.8M |
| 2019 | 17,369 | $2.17B | $124,649 | — | — | $13.0M |
| 2018 | 18,007 | $1.99B | $110,654 | — | — | $12.8M |
| 2017 | 22,433 | $2.33B | $103,748 | — | — | $13.1M |
| 2016 | 23,150 | $2.20B | $95,138 | — | — | $12.7M |
| 2015 | 24,057 | $2.23B | $92,870 | — | — | $13.1M |
| 2014 | 24,801 | $2.38B | $96,037 | — | — | $12.4M |
| 2013 | 25,920 | $2.32B | $89,354 | $0 | — | $13.0M |
| 2012 | 26,371 | $2.32B | $88,098 | $26K | — | $13.0M |
| 2011 | 27,004 | $2.29B | $84,750 | $260M | — | $12.5M |
| 2010 | 27,542 | $2.13B | $77,304 | $727M | — | $11.5M |
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$1,792,414,233
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$73,636,694
- Benefits paid$139,102,736
- Administrative expenses$6,361,473
- Total expenses$145,464,209
- Net income−$71,827,515
- Net transfers$0
- Net assets, end of year$1,720,586,718
Participants
- Active participants2,246
- Retired or separated, receiving benefits6,992
- Retired or separated, entitled to future benefits3,569
- Total participants, end of year14,409
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alliance Bernstein L.P. | Plan Administrator; Investment management | $3,759,793 | $0 |
| Morgan Stanley | Investment management | $3,727,595 | $0 |
| Milliman, Inc. | Actuarial | $1,217,027 | $0 |
| Highbridge | Investment management | $523,004 | $0 |
| NP Railcar Investments II LLC | Investment management | $322,191 | $0 |
| Asf VII B L.P | Other services | $298,391 | $0 |
| The Northern Trust Company | Other services | $183,845 | $0 |
| Equitable | Other services | $175,183 | $0 |
| PricewaterhouseCoopers, LLP | Accounting (including auditing) | $125,000 | $0 |
| Kilpatrick Townsend LLP | Legal | $57,528 | $0 |
| Alight Solutions | Consulting (pension) | $32,141 | $0 |
| Lbi Software, Inc. | Consulting (pension) | $18,400 | $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$2,570,892
- Investment advisory and management fees$1,989,857
- Actuarial fees$1,217,027
- Recordkeeping fees$183,845
- Salaries and allowances$175,183
- IQPA audit fees$125,000
- Legal fees$57,528
- Contract administrator fees$32,141
- Trustee and custodial fees$10,000
- Total administrative expenses$6,361,473
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.
- Corporate debt instruments$762M · 44.3%
- Corporate stocks$428M · 24.8%
- Other investments$408M · 23.7%
- U.S. Government securities$61.8M · 3.6%
- Pooled separate accounts$39.6M · 2.3%
- Receivables$11.4M · 0.7%
- Cash (interest and non-interest bearing)$8.7M · 0.5%
- Registered investment companies (mutual funds)$1.9M · 0.1%
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, $25,000,000
- 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 plan3DPre-approved pension plan3HPlan 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 524140: Direct Life, Health, & Medical Insurance Carriers.
Other plans of Equitable Financial Life Insurance Company
| Plan | Participants | Net assets |
|---|---|---|
| The Equitable 401(k) Plan | 13,002 | $2.65B |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| 32BJ School Workers Pension Fund | Board of Trustees of the 32BJ School Workers Pension Fund | 15,019 | $598M | $39,849 |
| YWCA Retirement Fund, Inc. | YWCA Retirement Fund, Inc. | 11,316 | $400M | $35,367 |
| Pentegra Defined Benefit Plan for Financial Inst | Board of Directors of Pentegra Defined Benefit Plan | 15,292 | $3.01B | $196,895 |
| The Guardian Home Office Employees' Retirement Pla | The Guardian Life Insurance Company of America | 7,536 | $1.25B | $166,509 |
| American Express Retirement Plan | American Express Company and Its Participating Subsidiaries | 16,121 | $1.01B | $62,481 |
| Mufg Bank, Ltd. Retirement Plan | Mufg Bank, Ltd. | 5,878 | $1.01B | $172,531 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Equitable Retirement Plan?
14,409 participants at the end of the plan year ending 31 Dec 2024, of whom 2,246 were active employees, with net assets of $1,720,586,718. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Equitable Financial Life Insurance Company 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 $10,440,098 in compensation to service provider organisations, $725 per participant or 0.61% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $6,361,473. 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 Equitable Financial Life Insurance Company. Recordkeeping or administration: Alliance Bernstein L.P.. Investment advisory or management: Alliance Bernstein L.P., Morgan Stanley and Highbridge. 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 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 13-5570651, plan 011, 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.