Texas › Mining › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Aramco U.S. Retirement Income Plan
Sponsored by Aramco Shared Benefits Company, 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.
Aramco Shared Benefits Company of Houston, Texas sponsors Aramco U.S. Retirement Income Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 1,794 participants (1,416 active) and $1.54B in net assets.
Net assets came to $860,603 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $88,081 median for defined benefit plans in mining. 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 $0 for the year ($0 per active participant) and benefits paid were $151M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $12.3M: $6,846 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $7.4M. 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 $2.24B in 2019 to $1.54B in 2024 (down 31%), and participants from 2,876 to 1,794 (down 38%).
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 | $860,603 | $87,935 | $88,081 | $86,221 |
| Employer contributions per active participant | $0 | $10,593 | $13,585 | $10,244 |
| Schedule C compensation per participant | $6,846 | $325 | $409 | $344 |
| Schedule C compensation, share of net assets | 0.80% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $4,140 | $513 | $591 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), mining (78) 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 | 1,794 | $1.54B | $860,603 | $0 | — | $12.3M |
| 2023 | 1,871 | $1.70B | $905,971 | $50.0M | — | $12.3M |
| 2022 | 1,933 | $1.63B | $844,065 | $50.0M | — | $15.0M |
| 2021 | 2,084 | $2.11B | $1,014,189 | — | — | $14.9M |
| 2020 | 2,325 | $2.20B | $948,195 | — | — | $16.1M |
| 2019 | 2,876 | $2.24B | $779,074 | $100M | $0 | $9.1M |
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$1,695,071,000
- Employer contributions$0
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$7,106,000
- Benefits paid$150,829,000
- Administrative expenses$7,427,000
- Total expenses$158,256,000
- Net income−$151,150,000
- Net transfers$0
- Net assets, end of year$1,543,921,000
Participants
- Active participants1,416
- Retired or separated, receiving benefits93
- Retired or separated, entitled to future benefits277
- Total participants, end of year1,794
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| De Shaw Valence Fund | Investment management | $0 | $2,765,623 |
| JP Morgan Chase Bank N.A. | Accounting (including auditing); Recordkeeping and information management; Consulting (pension); Custodial (securities); Trustee (bank, trust company, or similar financial institution); Trustee (directed); Investment advisory (plan); Investment management; Other services | $1,548,339 | $0 |
| Jefferies International Limited | Investment advisory (plan); Valuation (appraisals, etc.); Foreign entity | $952,034 | $0 |
| Goldman Sachs Vintage VII | Investment management; Foreign entity | $925,832 | $0 |
| Pacific Investment Management Pimco | Investment management | $827,975 | $0 |
| Related Fund Manager Core Sma | Investment management | $603,318 | $0 |
| Partners Group Real Estate Sec 2017 | Investment management | $534,582 | $0 |
| Magnetar Constellation Fund | Investment management; Foreign entity | $0 | $403,615 |
| Gateway Fund III | Investment management; Foreign entity | $360,748 | $0 |
| Capula Global Relative Value Fund | Investment management; Foreign entity | $0 | $348,925 |
| Polymer Asia (Cayman) Fund Ltd. | Investment management; Foreign entity | $0 | $336,485 |
| Realterm Logistics | Investment management | $257,729 | $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
- Other trustee fees and expenses$4,622,000
- Investment advisory and management fees$2,616,000
- Other administrative expenses$189,000
- Total administrative expenses$7,427,000
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$619M · 33.8%
- Other investments$450M · 24.6%
- U.S. Government securities$307M · 16.8%
- Partnership/joint venture interests$120M · 6.6%
- Common/collective trusts$119M · 6.5%
- Registered investment companies (mutual funds)$76.6M · 4.2%
- Receivables$74.9M · 4.1%
- Real estate$63.7M · 3.5%
- Cash (interest and non-interest bearing)$1.5M · 0.1%
- Corporate stocks$791K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmPricewaterhouseCoopers LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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 related1ECode section 401(h) arrangement3HPlan 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 211120: Crude Petroleum Extraction.
Other plans of Aramco Shared Benefits Company
| Plan | Participants | Net assets |
|---|---|---|
| Aramco U.S. Savings Plan | 3,703 | $2.89B |
Similar plans in Texas
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Retirement Plan of Marathon Oil Company | Marathon Oil Company | 2,595 | $240M | $92,390 |
| Occidental Oil & Gas Consolidated Retirement Plan | Occidental Petroleum Corporation | 1,506 | $67.4M | $44,736 |
| The Rowan Pension Plan | Ensco International Incorporated | 3,476 | $474M | $136,330 |
| Halliburton Retirement Plan | Halliburton Company | 1,496 | $31.6M | $21,096 |
| Conocophillips Retirement Plan | Conocophillips Company | 10,055 | $1.42B | $141,210 |
| Noble Services Company LLC Salaried Employees' Retirement Plan | Noble Services Company LLC | 1,030 | $141M | $136,569 |
Defined benefit plans in mining closest in size.
Questions and answers
How big is Aramco U.S. Retirement Income Plan?
1,794 participants at the end of the plan year ending 31 Dec 2024, of whom 1,416 were active employees, with net assets of $1,543,921,000. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Aramco Shared Benefits Company contribute per participant?
The filing reports $0 in employer contributions for the year, which is $0 per active participant; the median for plans of the same type and size was $10,593 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 $12,281,731 in compensation to service provider organisations, $6,846 per participant or 0.80% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $7,427,000. 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 Aramco Shared Benefits Company. Recordkeeping or administration: JP Morgan Chase Bank N.A.. Investment advisory or management: De Shaw Valence Fund, JP Morgan Chase Bank N.A. and Jefferies International Limited. Trustee or custodian: JP Morgan Chase Bank N.A.. The financial statements were audited by PricewaterhouseCoopers 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 14 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 84-4364434, plan 001, received 14 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.