Illinois › Professional, scientific and technical services › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Baxter International Inc. and Subsidiaries Pension Plan
Sponsored by Baxter International Inc., Deerfield, IL
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, Baxter International Inc. and Subsidiaries Pension Plan covered 8,771 participants and held $1.31B in net assets. The plan is a defined benefit pension plan sponsored by Baxter International Inc. of Deerfield, Illinois.
Net assets came to $149,121 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and 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 7 service provider organisations paid $5,000 or more, with reported compensation of $1.6M: $184 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $9.5M. 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 $2.50B in 2009 to $1.31B in 2024 (down 48%), and participants from 42,938 to 8,771 (down 80%).
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 | $149,121 | $87,623 | $176,808 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $35,855 | $10,244 |
| Schedule C compensation per participant | $184 | $232 | $450 | $344 |
| Schedule C compensation, share of net assets | 0.12% | 0.30% | 0.30% | 0.42% |
| Administrative expenses per participant | $1,082 | $396 | $596 | $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), 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 | 8,771 | $1.31B | $149,121 | — | — | $1.6M |
| 2023 | 8,824 | $1.38B | $156,255 | — | — | $0 |
| 2022 | 8,862 | $1.29B | $145,065 | — | — | $0 |
| 2021 | 5,372 | $654M | $121,826 | — | — | $0 |
| 2020 | 5,403 | $646M | $119,539 | — | — | $0 |
| 2019 | 8,273 | $703M | $84,986 | — | — | $0 |
| 2018 | 25,651 | $2.85B | $110,963 | — | — | $0 |
| 2017 | 29,716 | $4.12B | $138,733 | $115M | — | $15.9M |
| 2016 | 30,024 | $3.58B | $119,355 | — | — | $13.4M |
| 2015 | 30,328 | $3.50B | $115,567 | $691M | — | $16.7M |
| 2014 | 32,312 | $3.25B | $100,625 | $100M | — | $16.6M |
| 2013 | 32,644 | $3.00B | $91,995 | — | — | $15.8M |
| 2012 | 33,330 | $2.79B | $83,726 | — | — | $19.0M |
| 2011 | 42,143 | $2.93B | $69,496 | $0 | — | $0 |
| 2010 | 42,533 | $2.93B | $68,983 | $200M | — | $0 |
| 2009 | 42,938 | $2.50B | $58,152 | $300M | — | $0 |
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$1,378,797,654
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results−$2,362,470
- Benefits paid$59,003,344
- Administrative expenses$9,492,466
- Total expenses$68,495,810
- Net income−$70,858,280
- Net transfers$0
- Net assets, end of year$1,307,939,374
Participants
- Active participants1,522
- Retired or separated, receiving benefits2,995
- Retired or separated, entitled to future benefits3,851
- Total participants, end of year8,771
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions | Recordkeeping and information management | $463,328 | $0 |
| Willis Towers Watson | Actuarial | $335,232 | $0 |
| Gamco Investors, Inc. | Investment management | $282,910 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $235,931 | $0 |
| Crowe LLP | Accounting (including auditing) | $197,854 | $0 |
| Baxter International | Plan Administrator | $73,751 | $0 |
| Winston and Strawn | Legal | $23,494 | $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$8,343,294
- Actuarial fees$335,232
- Investment advisory and management fees$282,910
- Trustee and custodial fees$235,931
- IQPA audit fees$197,854
- Salaries and allowances$73,751
- Legal fees$23,494
- Total administrative expenses$9,492,466
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.
- Master trust investment accounts$1.31B · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCrowe LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $30,000,000
- 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 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 541990: All Other Professional, Scientific, & Technical Services.
Other plans of Baxter International Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Baxter International Inc. and Subsidiaries U.S. Retirement Savings Plan | 29,847 | $4.58B |
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Grant Thornton Advisors LLC Employees' Retirement Plan | Grant Thornton Advisors LLC | 17,013 | $528M | $31,026 |
| Group Retirement Income Plan No. 10 | CC Services, Inc. | 6,523 | $2.03B | $310,690 |
| Baxter Healthcare of Puerto Rico Pension Plan | Baxter Healthcare of Puerto Rico LLC | 6,342 | $243M | $38,393 |
| Sidley Austin LLP Retirement Plan | Sidley Austin LLP | 2,842 | $349M | $122,703 |
| BCOM3 Cash Balance Plan | MMS USA Holdings, Inc. | 2,252 | $135M | $59,731 |
| The Retirement Income Plan for Employees of Ul LLC | Ul LLC | 1,978 | $262M | $132,316 |
Defined benefit plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Baxter International Inc. and Subsidiaries Pension Plan?
8,771 participants at the end of the plan year ending 31 Dec 2024, of whom 1,522 were active employees, with net assets of $1,307,939,374. 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 Baxter International Inc. 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 $1,612,500 in compensation to service provider organisations, $184 per participant or 0.12% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $9,492,466. 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 Baxter International Inc.. Recordkeeping or administration: Alight Solutions and Baxter International. Investment advisory or management: Gamco Investors, Inc.. Trustee or custodian: Northern Trust Company. The financial statements were audited by Crowe 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 36-0781620, plan 003, 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.