Illinois › Finance and insurance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
State Farm Insurance Companies Retirement Plan for United States Employees
Sponsored by State Farm Mutual Automobile Insurance Company, Bloomington, 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.
State Farm Mutual Automobile Insurance Company of Bloomington, Illinois sponsors State Farm Insurance Companies Retirement Plan for United States Employees, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 114,467 participants (39,712 active) and $37.7B in net assets.
Net assets came to $329,660 per participant, well above the $88,040 median for defined benefit plans with 25,000 or more participants and well above the $119,983 median for defined benefit plans in finance and insurance. 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 $8.5M: $73.82 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $23.0M. 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 $12.2B in 2009 to $37.7B in 2024 (up 210%), and participants from 105,643 to 114,467 (up 8%).
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 | $329,660 | $88,040 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $7,849 | $10,244 |
| Schedule C compensation per participant | $73.82 | $143 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.02% | 0.26% | 0.32% | 0.42% |
| Administrative expenses per participant | $201 | $306 | $433 | $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), finance and insurance (690) 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 | 114,467 | $37.7B | $329,660 | — | — | $8.4M |
| 2023 | 115,468 | $35.2B | $305,208 | — | — | $8.3M |
| 2022 | 116,786 | $32.1B | $275,104 | — | — | $7.7M |
| 2021 | 118,864 | $36.7B | $308,686 | — | — | $8.1M |
| 2020 | 120,188 | $32.2B | $267,809 | — | — | $147K |
| 2019 | 115,665 | $29.3B | $253,090 | — | — | $136K |
| 2018 | 115,118 | $25.0B | $216,970 | — | — | $228K |
| 2017 | 115,257 | $26.5B | $229,757 | $2.10B | — | $110K |
| 2016 | 112,354 | $22.3B | $198,323 | $500M | — | $361K |
| 2015 | 110,449 | $20.4B | $184,505 | $500M | — | $21K |
| 2014 | 108,352 | $20.8B | $192,015 | $1.00B | — | $0 |
| 2013 | 111,099 | $19.0B | $171,348 | $1.00B | $0 | $0 |
| 2012 | 106,806 | $16.3B | $152,672 | $500M | — | $0 |
| 2011 | 105,454 | $15.0B | $142,446 | $1.60B | — | $153K |
| 2010 | 105,484 | $13.3B | $126,211 | $500M | — | $467K |
| 2009 | 105,643 | $12.2B | $115,041 | $400M | $0 | $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$35,241,763,781
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$3,640,991,202
- Benefits paid$1,124,512,296
- Administrative expenses$23,028,447
- Total expenses$1,147,540,743
- Net income$2,493,450,459
- Net transfers$0
- Net assets, end of year$37,735,214,240
Participants
- Active participants39,712
- Retired or separated, receiving benefits43,258
- Retired or separated, entitled to future benefits25,966
- Total participants, end of year114,467
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Recordkeeping and information management | $5,019,426 | $13,823 |
| Capital International, Inc. | Investment management | $2,006,838 | $0 |
| JP Morgan Chase Bank, N.A. | Custodial (other than securities) | $584,456 | $269,900 |
| The Northern Trust Company | Investment management | $238,174 | $0 |
| Aon | Actuarial | $189,807 | $0 |
| PricewaterhouseCoopers | Accounting (including auditing) | $127,861 | $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$14,861,885
- Recordkeeping fees$5,019,426
- Investment advisory and management fees$2,245,012
- Trustee and custodial fees$584,456
- Actuarial fees$189,807
- IQPA audit fees$127,861
- Total administrative expenses$23,028,447
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.
- Corporate stocks$26.2B · 69.5%
- Corporate debt instruments$6.83B · 18.1%
- U.S. Government securities$2.89B · 7.7%
- Registered investment companies (mutual funds)$902M · 2.4%
- Other investments$738M · 2.0%
- Receivables$129M · 0.3%
- Cash (interest and non-interest bearing)$1.3M · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPricewaterhouseCoopers
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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 related3FPlan 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 524150: Direct Insurance (except Life, Health & Medical) Carriers.
Other plans of State Farm Mutual Automobile Insurance Company
| Plan | Participants | Net assets |
|---|---|---|
| State Farm 401(k) Savings Plan | 101,896 | $19.0B |
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Zurich American Insurance Company Retirement Account Plan | Zurich American Insurance Company | 18,921 | $1.20B | $63,657 |
| BMO U.S. Pension Plan | BMO Financial Corp. | 18,124 | $1.25B | $68,839 |
| Carpenters Pension Fund of Illinois | Board of Trustees of Carpenters Pension Fund of Illinois | 17,735 | $2.23B | $125,643 |
| Discover Financial Services Pension Plan | Discover Financial Services | 11,889 | $482M | $40,531 |
| Arthur J. Gallagher & Co. Employees' Pension Plan | Arthur J. Gallagher (Illinois), LLC | 5,137 | $313M | $60,991 |
| Old Republic International Employees Retirement Plan | Old Republic International Corp. | 4,693 | $519M | $110,648 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is State Farm Insurance Companies Retirement Plan for United States Employees?
114,467 participants at the end of the plan year ending 31 Dec 2024, of whom 39,712 were active employees, with net assets of $37,735,214,240. 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 State Farm Mutual Automobile Insurance Company 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 $8,450,285 in compensation to service provider organisations, $73.82 per participant or 0.02% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $23,028,447. 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 State Farm Mutual Automobile Insurance Company. Recordkeeping or administration: Alight Solutions LLC. Investment advisory or management: Capital International, Inc. and The Northern Trust Company. Trustee or custodian: JP Morgan Chase Bank, N.A.. The financial statements were audited by PricewaterhouseCoopers. 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 16 Jun 2026. 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 37-0533100, plan 001, received 16 Jun 2026; 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.