California › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Csaa Insurance Group Cash Balance Retirement Plan
Sponsored by Csaa Insurance Services, Inc., Walnut Creek, CA
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, Csaa Insurance Group Cash Balance Retirement Plan covered 8,001 participants and held $754M in net assets. The plan is a cash balance pension plan sponsored by Csaa Insurance Services, Inc. of Walnut Creek, California.
Net assets came to $94,178 per participant, above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below 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.
Employer contributions were $65.0M for the year ($32,762 per active participant) and benefits paid were $49.0M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 7 service provider organisations paid $5,000 or more, with reported compensation of $2.7M: $343 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $27.0M. 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 $784M in 2015 to $754M in 2024 (down 4%), and participants from 10,493 to 8,001 (down 24%).
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 | $94,178 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | $32,762 | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $343 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.36% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $3,379 | $396 | $433 | $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), 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 | 8,001 | $754M | $94,178 | $65.0M | — | $2.7M |
| 2023 | 8,405 | $728M | $86,595 | — | — | $3.1M |
| 2022 | 8,605 | $703M | $81,697 | — | — | $2.3M |
| 2021 | 8,850 | $985M | $111,330 | — | — | $3.2M |
| 2020 | 9,335 | $1.00B | $107,265 | — | — | $3.1M |
| 2019 | 9,404 | $957M | $101,779 | $10.6M | — | $3.1M |
| 2018 | 9,307 | $837M | $89,956 | $8.0M | — | $3.0M |
| 2017 | 9,312 | $914M | $98,199 | $70.0M | — | $3.2M |
| 2016 | 10,605 | $796M | $75,102 | $0 | $0 | $3.2M |
| 2015 | 10,493 | $784M | $74,741 | $0 | $0 | $4.9M |
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$727,828,796
- Employer contributions$65,000,000
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$65,000,000
- Total income, including investment results$101,701,710
- Benefits paid$48,978,109
- Administrative expenses$27,032,116
- Total expenses$76,010,225
- Net income$25,691,485
- Net transfers$0
- Net assets, end of year$753,520,281
Participants
- Active participants1,984
- Retired or separated, receiving benefits2,503
- Retired or separated, entitled to future benefits3,430
- Participants with account balances0
- Total participants, end of year8,001
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley Investment MGMT | Investment management | $1,160,333 | $0 |
| Pacific Investment Management Co. | Investment management | $644,831 | $0 |
| Principal Life Insurance Company | Contract Administrator; Recordkeeping and information management | $461,796 | $0 |
| Nisa Investment Advisors L.L.C. | Investment management | $200,000 | $0 |
| Callan LLC | Consulting (pension) | $196,263 | $0 |
| Delaware Charter Guarantee | Trustee (bank, trust company, or similar financial institution) | $62,830 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $20,019 | $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$19,096,466
- Investment advisory and management fees$7,349,854
- Recordkeeping fees$462,546
- Trustee and custodial fees$64,795
- Actuarial fees$56,860
- Contract administrator fees$1,595
- Total administrative expenses$27,032,116
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$227M · 27.7%
- Registered investment companies (mutual funds)$136M · 16.6%
- U.S. Government securities$105M · 12.8%
- Corporate debt instruments$102M · 12.5%
- Corporate stocks$94.4M · 11.5%
- Receivables$77.8M · 9.5%
- Other investments$68.6M · 8.3%
- Cash (interest and non-interest bearing)$8.2M · 1.0%
- Partnership/joint venture interests$1.7M · 0.2%
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, $15,000,000
- 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 related1CCash balance or similar plan1ECode section 401(h) arrangement1IFrozen plan
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 Csaa Insurance Services, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Csaa Insurance Group 401(k) Plan | 5,287 | $872M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Directors Guild of America-Producer Pension Plan Basic Benefit Plan | Board of Trustees, Directors Guild of America- | 14,707 | $2.46B | $167,178 |
| Blue Shield of California Employees Retirement Plan | California Physicians Service DBA Blue Shield of California | 6,718 | $561M | $83,520 |
| Producer-Writers Guild of America Pension Plan | Board of Directors Producer-Writers Guild of America Pension Plan | 20,228 | $4.42B | $218,416 |
| Visa Retirement Plan | Visa Inc. | 5,844 | $1.29B | $221,403 |
| Carpenters Labor-Management Pension Plan | United Brotherhood of Carpenters Labor-Mgmt PF Trustee | 24,299 | $1.18B | $48,612 |
| Pension Fund of Make-Up Artists & Hair Stylists Union - Local 798 - IATSE | Board of Trustees of Pension Fund of Makeup Artists & Hair Stylists | 1,879 | $172M | $91,309 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Csaa Insurance Group Cash Balance Retirement Plan?
8,001 participants at the end of the plan year ending 31 Dec 2024, of whom 1,984 were active employees, with net assets of $753,520,281. 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 Csaa Insurance Services, Inc. contribute per participant?
The filing reports $65,000,000 in employer contributions for the year, which is $32,762 per active participant; the median for plans of the same type and size was $9,468 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $2,746,072 in compensation to service provider organisations, $343 per participant or 0.36% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $27,032,116. 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 Csaa Insurance Services, Inc.. Recordkeeping or administration: Principal Life Insurance Company. Investment advisory or management: Morgan Stanley Investment MGMT, Pacific Investment Management Co. and Nisa Investment Advisors L.L.C.. Trustee or custodian: Delaware Charter Guarantee and 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 10 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 46-4417209, plan 001, received 10 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.