California › Information › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
SSL Pension Plan
Sponsored by Maxar Space, LLC, Palo Alto, CA
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, SSL Pension Plan covered 2,868 participants and held $321M in net assets. The plan is a defined benefit pension plan sponsored by Maxar Space, LLC of Palo Alto, California.
Net assets came to $111,813 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $76,035 median for defined benefit plans in information. 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 $2.1M for the year ($5,982 per active participant) and benefits paid were $53.3M. 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 $1.8M: $618 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $4.4M. 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 $348M in 2012 to $321M in 2024 (down 8%), and participants from 4,290 to 2,868 (down 33%).
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 | $111,813 | $87,935 | $76,035 | $86,221 |
| Employer contributions per active participant | $5,982 | $10,593 | $7,015 | $10,244 |
| Schedule C compensation per participant | $618 | $325 | $354 | $344 |
| Schedule C compensation, share of net assets | 0.55% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $1,525 | $513 | $671 | $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), information (147) 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 | 2,868 | $321M | $111,813 | $2.1M | — | $1.8M |
| 2023 | 3,184 | $358M | $112,511 | — | — | $1.6M |
| 2022 | 3,240 | $346M | $106,846 | — | — | $2.3M |
| 2021 | 3,282 | $461M | $140,605 | — | — | $2.5M |
| 2020 | 3,317 | $444M | $133,806 | $0 | — | $2.1M |
| 2019 | 3,358 | $434M | $129,214 | $40.9M | — | $1.9M |
| 2018 | 3,408 | $355M | $104,303 | $10.5M | — | $2.0M |
| 2017 | 3,437 | $399M | $116,058 | $9.6M | — | $1.9M |
| 2016 | 3,473 | $367M | $105,686 | $4.9M | — | $2.0M |
| 2015 | 4,124 | $390M | $94,501 | $3.5M | — | $2.3M |
| 2014 | 4,190 | $414M | $98,717 | — | — | $2.4M |
| 2013 | 4,247 | $417M | $98,265 | $40.1M | $1.3M | $1.6M |
| 2012 | 4,290 | $348M | $81,044 | $9.1M | $313K | $299K |
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$358,235,112
- Employer contributions$2,117,461
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,117,461
- Total income, including investment results$20,146,348
- Benefits paid$53,327,837
- Administrative expenses$4,373,051
- Total expenses$57,700,888
- Net income−$37,554,540
- Net transfers$0
- Net assets, end of year$320,680,572
Participants
- Active participants354
- Retired or separated, receiving benefits1,562
- Retired or separated, entitled to future benefits581
- Total participants, end of year2,868
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Russell Trust Company | Trustee (bank, trust company, or similar financial institution); Investment management | $1,168,865 | $0 |
| Milliman | Actuarial; Recordkeeping and information management | $455,586 | $0 |
| UBS Consulting | Investment advisory (plan) | $70,000 | $0 |
| Moss Adams | Accounting (including auditing) | $47,775 | $0 |
| State Street | Custodial (other than securities) | $30,192 | $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$2,533,801
- Investment advisory and management fees$1,238,865
- Actuarial fees$455,586
- Legal fees$66,832
- IQPA audit fees$47,775
- Trustee and custodial fees$30,192
- Total administrative expenses$4,373,051
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$316M · 98.5%
- Receivables$4.8M · 1.5%
- Partnership/joint venture interests$101K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBaker Tilly US, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 related3HPlan sponsor(s) is (are) a member(s) of a controlled group1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 517000: Telecommunications (including paging, cellular, satellite, cable & other program distribution, resellers, other telecommunications, & internet service providers).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Directv Bargained Pension Plan | Directv Entertainment Holdings LLC | 3,544 | $17.7M | $4,984 |
| Media Guild Retirement Plan | Media Guild Retirement Plan | 1,797 | $164M | $91,182 |
| Disney Salaried Pension Plan a | TWDC Enterprises 18 Corp. | 18,186 | $4.20B | $231,183 |
| American Radio Association Pension Plan | Board of Trustees Ara Pension Plan | 263 | $48.7M | $185,044 |
| Disney Salaried Pension Plan D | TWDC Enterprises 18 Corp. | 34,883 | $10.4B | $298,735 |
| Disney Associated Companies' Retirement Plan | TWDC Enterprises 18 Corp. | 53,294 | $1.83B | $34,345 |
Defined benefit plans in information closest in size.
Questions and answers
How big is SSL Pension Plan?
2,868 participants at the end of the plan year ending 31 Dec 2024, of whom 354 were active employees, with net assets of $320,680,572. 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 Maxar Space, LLC contribute per participant?
The filing reports $2,117,461 in employer contributions for the year, which is $5,982 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 $1,772,418 in compensation to service provider organisations, $618 per participant or 0.55% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $4,373,051. 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 Maxar Space, LLC. Recordkeeping or administration: Milliman. Investment advisory or management: Russell Trust Company and UBS Consulting. Trustee or custodian: Russell Trust Company and State Street. The financial statements were audited by Baker Tilly US, 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 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 23-1602217, plan 020, 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.