Illinois › Management of companies (holding companies) › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Pension Plan for Pactiv Evergreen
Sponsored by Pactiv LLC, Lake Forest, 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.
Pactiv LLC of Lake Forest, Illinois sponsors Pension Plan for Pactiv Evergreen, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 16,520 participants (3,039 active) and $866M in net assets.
Net assets came to $52,444 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below the $94,230 median for defined benefit plans in management of companies (holding companies). 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 6 service provider organisations paid $5,000 or more, with reported compensation of $3.7M: $226 per participant, close to the same-size median of $232. Administrative expenses charged to the plan were $5.8M. 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 $935M in 2022 to $866M in 2024 (down 7%), and participants from 19,659 to 16,520 (down 16%).
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 | $52,444 | $87,623 | $94,230 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $14,787 | $10,244 |
| Schedule C compensation per participant | $226 | $232 | $326 | $344 |
| Schedule C compensation, share of net assets | 0.43% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $349 | $396 | $519 | $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), management of companies (holding companies) (97) 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 | 16,520 | $866M | $52,444 | — | — | $3.7M |
| 2023 | 19,166 | $989M | $51,602 | — | — | $3.8M |
| 2022 | 19,659 | $935M | $47,578 | $188K | — | $69K |
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$989,004,119
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$13,584,347
- Benefits paid$139,165,173
- Administrative expenses$5,763,392
- Total expenses$144,928,565
- Net income−$131,344,218
- Net transfers$8,721,718
- Net assets, end of year$866,381,619
Participants
- Active participants3,039
- Retired or separated, receiving benefits4,719
- Retired or separated, entitled to future benefits7,255
- Total participants, end of year16,520
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Conduent HR Services, LLC | Claims processing; Recordkeeping and information management; Copying and duplicating; Participant communication | $2,913,852 | $0 |
| Aon Consulting Inc. | Actuarial | $335,275 | $0 |
| Northern Trust Company | Accounting (including auditing); Custodial (securities); Trustee (bank, trust company, or similar financial institution); Investment management; Securities brokerage; Valuation (appraisals, etc.) | $201,455 | $0 |
| Crowe LLP | Accounting (including auditing) | $149,756 | $0 |
| Pension Benefit Information, LLC | Other services | $114,265 | $0 |
| Bloomberg Finance LP | Other services | $24,610 | $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
- Contract administrator fees$2,913,852
- Other administrative expenses$2,163,054
- Actuarial fees$335,275
- Trustee and custodial fees$201,455
- IQPA audit fees$149,756
- Total administrative expenses$5,763,392
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$866M · 100.0%
- Insurance company general account$393K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCrowe LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,500,000
- 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 plan3FPlan sponsor(s) received services of leased employees3HPlan 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 551112: Offices of Other Holding Companies.
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| HSBC - North America (U.S.) Pension Plan | HSBC North America Holdings Inc. | 39,143 | $2.86B | $72,964 |
| Tribune Media Company Retirement Plan | Tribune Media Company | 15,861 | $1.09B | $68,603 |
| Cna Retirement Plan | Continental Casualty Company | 5,741 | $849M | $147,808 |
| Gatx Corporation Noncontributory Pension Plan for Salaried Employees | Gatx Corporation | 1,985 | $227M | $114,264 |
| Gatx Corporation Noncontributory Pension Plan for Hourly Employees | Gatx Corporation | 1,554 | $74.2M | $47,748 |
| The Baltimore Sun Company Employees' Retirement Plan | Tribune Media Company | 1,287 | $53.6M | $41,680 |
Defined benefit plans in management of companies (holding companies) closest in size.
Questions and answers
How big is Pension Plan for Pactiv Evergreen?
16,520 participants at the end of the plan year ending 31 Dec 2024, of whom 3,039 were active employees, with net assets of $866,381,619. 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 Pactiv LLC 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 $3,739,213 in compensation to service provider organisations, $226 per participant or 0.43% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $5,763,392. 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 Pactiv LLC. Recordkeeping or administration: Conduent HR Services, LLC. Investment advisory or management: Northern Trust Company. 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. 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 36-2552989, plan 042, 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.