Louisiana › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Pan-American Life Insurance Company Employees' Retirement Benefit Plan
Sponsored by Pan-American Life Insurance Group, Inc., New Orleans, LA
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.
Pan-American Life Insurance Company Employees' Retirement Benefit Plan is a defined benefit pension plan sponsored by Pan-American Life Insurance Group, Inc. of New Orleans, Louisiana. For the plan year ending 31 Dec 2024 it reported 917 participants, 98 of them active, and net assets of $114M.
Net assets came to $124,729 per participant, well above the $86,583 median for defined benefit plans with 500 to 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.
Employer contributions were $841K for the year ($8,585 per active participant) and benefits paid were $10.2M. 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 4 service provider organisations paid $5,000 or more, with reported compensation of $672K: $733 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $1.4M. 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 $139M in 2017 to $114M in 2024 (down 17%), and participants from 790 to 917 (up 16%).
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 | $124,729 | $86,583 | $119,983 | $86,221 |
| Employer contributions per active participant | $8,585 | $10,758 | $7,849 | $10,244 |
| Schedule C compensation per participant | $733 | $377 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.59% | 0.48% | 0.32% | 0.42% |
| Administrative expenses per participant | $1,547 | $591 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 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 | 917 | $114M | $124,728 | $841K | — | $672K |
| 2023 | 1,087 | $122M | $111,922 | — | — | $598K |
| 2022 | 741 | $107M | $144,713 | — | — | $621K |
| 2021 | 745 | $139M | $187,008 | — | — | $811K |
| 2020 | 757 | $150M | $197,712 | $0 | $0 | $559K |
| 2019 | 768 | $141M | $184,040 | $0 | $0 | $466K |
| 2018 | 784 | $129M | $164,212 | $275K | $0 | $342K |
| 2017 | 790 | $139M | $175,347 | $1.5M | $0 | $59K |
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$121,658,769
- Employer contributions$841,303
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$841,303
- Total income, including investment results$4,351,851
- Benefits paid$10,215,525
- Administrative expenses$1,418,784
- Total expenses$11,634,309
- Net income−$7,282,458
- Net transfers$0
- Net assets, end of year$114,376,311
Participants
- Active participants98
- Retired or separated, receiving benefits553
- Retired or separated, entitled to future benefits213
- Participants with account balances0
- Total participants, end of year917
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $287,240 | $0 |
| Pimco | Investment advisory (plan) | $284,076 | $0 |
| Alliant | Investment advisory (plan) | $55,000 | $910 |
| Bourgeois Bennett, LLC | Accounting (including auditing) | $45,000 | $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$747,468
- Investment advisory and management fees$339,076
- Contract administrator fees$287,240
- IQPA audit fees$45,000
- Total administrative expenses$1,418,784
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$107M · 93.2%
- Pooled separate accounts$2.8M · 2.5%
- Cash (interest and non-interest bearing)$2.7M · 2.4%
- Receivables$2.2M · 1.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBourgeois Bennett, LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- 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
1ABenefits are primarily pay related1IFrozen plan3CPlan not intended to be qualified3DPre-approved pension plan3JU.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.
Similar plans in Louisiana
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Electricians Pension Plan, IBEW 995 | Trustees of the Electricians Pension Plan, IBEW 995 | 1,385 | $77.6M | $56,029 |
| Neighbors Federal Credit Union Cash Balance Defined Benefit Plan and Trust | Neighbors Federal Credit Union | 267 | $67.8M | $254,108 |
| Retirement Plan for Employees of la Capitol Federal Credit Union | La Capitol Federal Credit Union | 255 | $124M | $486,086 |
| Bank of Commerce & Trust Company Pension Plan | Bank of Commerce | 118 | $10.1M | $85,513 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Pan-American Life Insurance Company Employees' Retirement Benefit Plan?
917 participants at the end of the plan year ending 31 Dec 2024, of whom 98 were active employees, with net assets of $114,376,311. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Pan-American Life Insurance Group, Inc. contribute per participant?
The filing reports $841,303 in employer contributions for the year, which is $8,585 per active participant; the median for plans of the same type and size was $10,758 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 $672,226 in compensation to service provider organisations, $733 per participant or 0.59% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $1,418,784. 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 Pan-American Life Insurance Group, Inc.. Recordkeeping or administration: Principal Life Insurance Company. Investment advisory or management: Pimco and Alliant. The financial statements were audited by Bourgeois Bennett, LLC. 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 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 20-5816271, 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.