Connecticut › Finance and insurance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
The Citigroup Pension Plan
Sponsored by Citigroup Inc., Stamford, CT
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.
Citigroup Inc. of Stamford, Connecticut sponsors The Citigroup Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 119,922 participants (14,217 active) and $9.84B in net assets.
Net assets came to $82,064 per participant, below the $88,040 median for defined benefit plans with 25,000 or more 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.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $64.2M: $535 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $76.5M. 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 $10.0B in 2009 to $9.84B in 2024 (down 2%), and participants from 236,370 to 119,922 (down 49%).
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 | $82,064 | $88,040 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $7,849 | $10,244 |
| Schedule C compensation per participant | $535 | $143 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.65% | 0.26% | 0.32% | 0.42% |
| Administrative expenses per participant | $638 | $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 | 119,922 | $9.84B | $82,064 | — | — | $64.2M |
| 2023 | 124,841 | $10.3B | $82,697 | — | — | $65.2M |
| 2022 | 129,539 | $10.3B | $79,893 | — | — | $57.5M |
| 2021 | 134,727 | $13.2B | $98,222 | — | — | $70.6M |
| 2020 | 140,511 | $13.6B | $96,876 | — | — | $60.4M |
| 2019 | 146,466 | $13.0B | $88,536 | — | — | $53.1M |
| 2018 | 153,227 | $12.1B | $79,083 | $425M | — | $51.0M |
| 2017 | 158,035 | $13.0B | $82,143 | $145M | — | $57.2M |
| 2016 | 179,350 | $12.5B | $69,964 | $50.0M | — | $50.5M |
| 2015 | 190,236 | $12.8B | $67,118 | $326M | — | $50.9M |
| 2014 | 194,602 | $13.3B | $68,199 | $74.0M | — | $48.5M |
| 2013 | 202,534 | $12.8B | $63,407 | $100M | — | $53.0M |
| 2012 | 206,955 | $12.8B | $61,649 | — | — | $52.4M |
| 2011 | 219,742 | $12.2B | $55,294 | — | — | $38.3M |
| 2010 | 226,828 | $11.7B | $51,539 | $1000M | — | $0 |
| 2009 | 236,370 | $10.0B | $42,486 | $4.7M | — | $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$10,323,958,393
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$456,826,316
- Benefits paid$862,943,012
- Administrative expenses$76,543,199
- Total expenses$939,486,211
- Net income−$482,659,895
- Net transfers$0
- Net assets, end of year$9,841,298,498
Participants
- Active participants14,217
- Retired or separated, receiving benefits44,375
- Retired or separated, entitled to future benefits61,330
- Total participants, end of year119,922
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson | Actuarial | $9,004,594 | $0 |
| Citigroup | Consulting (general); Investment management | $5,499,212 | $0 |
| KKR & Co. L.P | Investment management | $4,425,258 | $0 |
| Ik Partners | Investment management | $4,096,535 | $0 |
| Woodline Partners LP | Investment management fees paid indirectly by plan; Other investment fees and expenses; Other fees | $0 | $2,445,447 |
| Sixth Cinven Fund LP | Investment management | $2,147,789 | $0 |
| Gso Energy Market Opportunities Fun | Investment management | $1,833,070 | $0 |
| Pentwater Capital Management LP | Investment management | $0 | $1,795,718 |
| Benson Elliot Capital MGMT LLP | Investment management | $229,618 | $1,558,438 |
| BlackRock Institutional Trust Co., | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $1,691,350 | $0 |
| Bank of New York Mellon | Recordkeeping and information management; Trustee (bank, trust company, or similar financial institution); Trustee (directed); Investment management | $1,569,568 | $0 |
| Western Asset Management Co., LLC | Investment management | $1,436,845 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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
- Investment advisory and management fees$46,567,561
- Other administrative expenses$18,125,472
- Actuarial fees$9,004,594
- Trustee and custodial fees$1,569,568
- Legal fees$901,468
- IQPA audit fees$286,611
- Contract administrator fees$87,925
- Total administrative expenses$76,543,199
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 debt instruments$4.86B · 48.6%
- Partnership/joint venture interests$2.61B · 26.1%
- Corporate stocks$584M · 5.8%
- Registered investment companies (mutual funds)$506M · 5.1%
- U.S. Government securities$490M · 4.9%
- Common/collective trusts$444M · 4.4%
- Other investments$321M · 3.2%
- Receivables$114M · 1.1%
- Cash (interest and non-interest bearing)$64.2M · 0.6%
- Insurance company general account$3.4M · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmKPMG LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $300,000,000
- 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 related1CCash balance or similar plan1ECode section 401(h) arrangement3HPlan sponsor(s) is (are) a member(s) of a controlled group3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 523900: Other Financial Investment Activities (including portfolio management & investment advice).
Other plans of Citigroup Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Citi Retirement Savings Plan | 117,332 | $26.9B |
Similar plans in Connecticut
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Retirement Plan for Employees of Aetna Inc. | Aetna Inc. | 49,504 | $5.19B | $104,891 |
| The Hartford Retirement Plan for U.S. Employees | The Hartford Financial Services Group, Inc. | 20,823 | $3.39B | $163,021 |
| The Nassau Companies of New York Employee Pension Plan | The Nassau Companies of New York | 3,707 | $487M | $131,319 |
| Knights of Columbus Agents Pension Plan | Knights of Columbus Supreme Council | 3,071 | $264M | $85,907 |
| Liberty Bank Pension Plan | Liberty Bank | 1,483 | $149M | $100,433 |
| Knights of Columbus Retirement Plan for Non-Bargaining Unit Employees | Knights of Columbus Supreme Council | 1,120 | $290M | $258,490 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is The Citigroup Pension Plan?
119,922 participants at the end of the plan year ending 31 Dec 2024, of whom 14,217 were active employees, with net assets of $9,841,298,498. 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 Citigroup 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 $64,184,584 in compensation to service provider organisations, $535 per participant or 0.65% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $76,543,199. 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 Citigroup Inc.. Recordkeeping or administration: Bank of New York Mellon. Investment advisory or management: Citigroup, KKR & Co. L.P and Ik Partners. Trustee or custodian: BlackRock Institutional Trust Co., and Bank of New York Mellon. The financial statements were audited by KPMG 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 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 52-1568099, plan 020, 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.