Ohio › Manufacturing › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Parker Defined Benefit Pension Plan
Sponsored by Parker Hannifin Corporation, Cleveland, OH
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.
Parker Defined Benefit Pension Plan is a cash balance pension plan sponsored by Parker Hannifin Corporation of Cleveland, Ohio. For the plan year ending 31 Dec 2024 it reported 37,405 participants, 7,621 of them active, and net assets of $3.40B.
Net assets came to $90,865 per participant, close to the $88,040 median for defined benefit plans with 25,000 or more participants and well above the $67,961 median for defined benefit plans in manufacturing. 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 13 service provider organisations paid $5,000 or more, with reported compensation of $7.6M: $203 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $25.2M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
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 | $90,865 | $88,040 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $6,915 | $10,244 |
| Schedule C compensation per participant | $203 | $143 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.22% | 0.26% | 0.47% | 0.42% |
| Administrative expenses per participant | $673 | $306 | $498 | $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), manufacturing (1,532) 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 | 37,405 | $3.40B | $90,865 | — | — | $7.6M |
| 2023 | 40,612 | $3.59B | $88,301 | — | — | $4.3M |
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$3,586,072,176
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$204,262,424
- Benefits paid$366,386,194
- Administrative expenses$25,160,945
- Total expenses$391,547,139
- Net income−$187,284,715
- Net transfers$0
- Net assets, end of year$3,398,787,461
Participants
- Active participants7,621
- Retired or separated, receiving benefits20,720
- Retired or separated, entitled to future benefits4,286
- Total participants, end of year37,405
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Consulting (general) | $2,947,537 | $0 |
| Aon Investment USA Inc. | Investment management | $2,000,000 | $0 |
| Parametric Portfolio Associate | Investment management | $835,118 | $0 |
| Pacific Investment Management | Investment management | $421,809 | $0 |
| Aon Consulting Inc. | Consulting (general); Investment management | $406,917 | $0 |
| JP Morgan Chase Bank N.A. | Investment management | $321,618 | $0 |
| Legal & General Investment | Investment management | $237,359 | $0 |
| Baker & Hostetler LLP | Legal | $224,897 | $0 |
| Ventas Life Science and Healthcare | Investment management | $69,601 | $0 |
| CliftonLarsonAllen LLP | Accounting (including auditing) | $65,752 | $0 |
| State Street Bank and Trust | Investment management | $49,177 | $0 |
| Parker Hannifin Corp. | Direct payment from the plan; Account maintenance fees | $16,536 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 1 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
- Other administrative expenses$18,154,899
- Investment advisory and management fees$3,359,554
- Contract administrator fees$3,355,843
- Legal fees$224,897
- IQPA audit fees$65,752
- Total administrative expenses$25,160,945
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$1.66B · 47.4%
- Partnership/joint venture interests$735M · 21.0%
- Corporate debt instruments$583M · 16.7%
- Registered investment companies (mutual funds)$313M · 9.0%
- Other investments$93.3M · 2.7%
- U.S. Government securities$91.6M · 2.6%
- Receivables$11.6M · 0.3%
- Cash (interest and non-interest bearing)$11.3M · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBober, Markey, Fedorovich & Company
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $40,000,000
- 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 related1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 333900: Other General Purpose Machinery Mfg.
Other plans of Parker Hannifin Corporation
| Plan | Participants | Net assets |
|---|---|---|
| Parker Retirement Savings Plan | 42,434 | $9.01B |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pension Plan for Eaton Corporation Employees | Eaton Corporation | 44,528 | $2.44B | $54,902 |
| Marathon Petroleum Retirement Plan | Marathon Petroleum Company LP | 23,452 | $2.21B | $94,083 |
| GE Aerospace Pension Plan | General Electric Company, Operating As GE Aerospace | 118,868 | $19.0B | $160,003 |
| The Goodyear Tire & Rubber Company 1950 Pension Plan | The Goodyear Tire & Rubber Company | 21,375 | $2.12B | $99,101 |
| Nestle Pension Plan | Nestle USA, Inc. | 19,961 | $1.68B | $84,259 |
| The Goodyear Tire & Rubber Company Salaried Pension Plan | The Goodyear Tire & Rubber Company | 13,970 | $897M | $64,190 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Parker Defined Benefit Pension Plan?
37,405 participants at the end of the plan year ending 31 Dec 2024, of whom 7,621 were active employees, with net assets of $3,398,787,461. 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 Parker Hannifin Corporation 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 $7,610,968 in compensation to service provider organisations, $203 per participant or 0.22% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $25,160,945. 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 Parker Hannifin Corporation. Investment advisory or management: Aon Investment USA Inc., Parametric Portfolio Associate and Pacific Investment Management. The financial statements were audited by Bober, Markey, Fedorovich & Company. 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 14 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 34-0451060, plan 080, received 14 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.