Texas › Manufacturing › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
BP Retirement Accumulation Plan
Sponsored by BP Corporation North America Inc., Houston, TX
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.
BP Corporation North America Inc. of Houston, Texas sponsors BP Retirement Accumulation Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 28,766 participants (9,724 active) and $5.28B in net assets.
Net assets came to $183,389 per participant, well above 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 2 service provider organisations paid $5,000 or more, with reported compensation of $2.5M: $88.39 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $5.5M. 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 $6.14B in 2009 to $5.28B in 2024 (down 14%), and participants from 93,850 to 28,766 (down 69%).
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 | $183,389 | $88,040 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $6,915 | $10,244 |
| Schedule C compensation per participant | $88.39 | $143 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.05% | 0.26% | 0.47% | 0.42% |
| Administrative expenses per participant | $191 | $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 | 28,766 | $5.28B | $183,389 | — | — | $2.5M |
| 2023 | 29,200 | $5.49B | $188,124 | — | — | $2.2M |
| 2022 | 29,133 | $5.37B | $184,357 | — | — | $2.4M |
| 2021 | 29,854 | $7.27B | $243,621 | — | — | $2.9M |
| 2020 | 32,210 | $7.82B | $242,756 | — | — | $3.6M |
| 2019 | 40,984 | $7.71B | $188,163 | — | — | $4.0M |
| 2018 | 59,685 | $7.15B | $119,786 | — | — | $3.9M |
| 2017 | 61,973 | $7.75B | $125,081 | $9.9M | — | $4.4M |
| 2016 | 64,670 | $7.28B | $112,631 | $10.0M | — | $5.5M |
| 2015 | 67,670 | $7.44B | $109,940 | $126M | — | $5.1M |
| 2014 | 72,469 | $8.32B | $114,843 | $346M | — | $6.3M |
| 2013 | 80,968 | $7.83B | $96,721 | $180M | — | $5.7M |
| 2012 | 86,107 | $7.95B | $92,363 | $200M | — | $5.9M |
| 2011 | 87,544 | $7.32B | $83,631 | $354M | — | $5.0M |
| 2010 | 90,301 | $7.23B | $80,084 | $950M | — | $5.8M |
| 2009 | 93,850 | $6.14B | $65,413 | $837M | — | $6.7M |
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$5,493,227,071
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$19,335,993
- Benefits paid$231,708,589
- Administrative expenses$5,491,902
- Total expenses$237,200,491
- Net income−$217,864,498
- Net transfers$0
- Net assets, end of year$5,275,362,573
Participants
- Active participants9,724
- Retired or separated, receiving benefits4,977
- Retired or separated, entitled to future benefits13,012
- Total participants, end of year28,766
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Invsts Institutional Ops C | Contract Administrator; Recordkeeping and information management | $1,418,158 | $0 |
| Mercer Human Resources Consulting | Actuarial | $1,124,444 | $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$2,949,300
- Recordkeeping fees$1,418,158
- Actuarial fees$1,124,444
- Total administrative expenses$5,491,902
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$5.24B · 99.3%
- Other investments$19.7M · 0.4%
- Insurance company general account$16.0M · 0.3%
- Pooled separate accounts$37K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmDeloitte & Touche LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 related1CCash balance or similar plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 324110: Petroleum Refineries (including integrated).
Other plans of BP Corporation North America Inc.
| Plan | Participants | Net assets |
|---|---|---|
| BP Employee Savings Plan | 19,857 | $8.26B |
| BP Directsave Plan | 4,829 | $37.9M |
| BPX Energy Employee Savings Plan | 1,452 | $366M |
| Archaea Employee Savings Plan | 638 | $34.5M |
| BP Partnership Savings Plan | 420 | $36.6M |
Similar plans in Texas
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Shell Pension Plan | Shell USA, Inc. | 31,775 | $9.57B | $301,059 |
| Caterpillar Inc. Non-Contributory Pension Plan | Caterpillar Inc. | 23,789 | $2.37B | $99,674 |
| Caterpillar Inc. Retirement Income Plan | Caterpillar Inc. | 38,251 | $9.19B | $240,355 |
| Celanese Americas Retirement Pension Plan | Celanese Americas LLC | 17,027 | $1.85B | $108,702 |
| HP Inc. Pension Plan | HP Inc. | 48,302 | $4.59B | $95,109 |
| Phillips 66 Retirement Plan | Phillips 66 Company | 15,952 | $2.20B | $137,938 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is BP Retirement Accumulation Plan?
28,766 participants at the end of the plan year ending 31 Dec 2024, of whom 9,724 were active employees, with net assets of $5,275,362,573. 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 BP Corporation North America 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 $2,542,602 in compensation to service provider organisations, $88.39 per participant or 0.05% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $5,491,902. 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 BP Corporation North America Inc.. Recordkeeping or administration: Fidelity Invsts Institutional Ops C. The financial statements were audited by Deloitte & Touche 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 8 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 36-1812780, plan 050, received 8 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.