California › Educational services › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Stanford Contributory Retirement Plan
Sponsored by The Board of Trustees of the Leland Stanford Junior University, Redwood City, 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, Stanford Contributory Retirement Plan covered 43,741 participants and held $12.6B in net assets. The plan is a 403(b) plan sponsored by The Board of Trustees of the Leland Stanford Junior University of Redwood City, California.
Net assets came to $287,331 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $73,018 median for defined contribution plans in educational services. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $267M during the year, or $11,002 per active participant against a same-size median of $2,417; participants contributed $382M. Benefits paid out totalled $604M.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $1.6M: $35.63 per participant, close to the same-size median of $36.41. Administrative expenses charged to the plan were $1.5M. 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 $3.18B in 2009 to $12.6B in 2024 (up 296%), and participants from 35,145 to 43,741 (up 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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $287,331 | $62,774 | $73,018 | $53,102 |
| Employer contributions per active participant | $11,002 | $2,417 | $2,838 | $2,175 |
| Schedule C compensation per participant | $35.63 | $36.41 | $95.66 | $123 |
| Schedule C compensation, share of net assets | 0.01% | 0.07% | 0.13% | 0.26% |
| Administrative expenses per participant | $35.25 | $38.81 | $89.26 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 plans), educational services (2,753) and all US plans (63,460). 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 | 43,741 | $12.6B | $287,331 | $267M | $382M | $1.6M |
| 2023 | 42,227 | $11.0B | $261,444 | $242M | $285M | $1.3M |
| 2022 | 40,248 | $9.39B | $233,198 | $218M | $255M | $1.3M |
| 2021 | 41,030 | $11.0B | $269,135 | $200M | $235M | $1.5M |
| 2020 | 40,110 | $9.76B | $243,218 | $193M | $219M | $1.3M |
| 2019 | 40,948 | $8.51B | $207,780 | $182M | $201M | $1.3M |
| 2018 | 39,560 | $7.08B | $178,905 | $171M | $187M | $1.3M |
| 2017 | 40,089 | $7.37B | $183,785 | $159M | $172M | $1.3M |
| 2016 | 38,429 | $6.29B | $163,686 | $148M | $160M | $1.4M |
| 2015 | 34,816 | $5.79B | $166,429 | $140M | $152M | $1.6M |
| 2014 | 33,729 | $5.74B | $170,089 | $132M | $141M | $1.4M |
| 2013 | 32,618 | $5.35B | $163,998 | $120M | $129M | $1.4M |
| 2012 | 31,772 | $4.56B | $143,415 | $112M | $119M | $1.4M |
| 2011 | 32,487 | $4.07B | $125,330 | $106M | $93.3M | $1.2M |
| 2010 | 24,955 | $3.55B | $142,380 | $100M | $81.5M | $1.3M |
| 2009 | 35,145 | $3.18B | $90,401 | $97.7M | $78.4M | $132K |
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$11,039,978,863
- Employer contributions$266,523,250
- Participant contributions$382,231,602
- Rollovers and other contributions—
- Total contributions$648,754,852
- Total income, including investment results$2,133,986,157
- Benefits paid$604,297,149
- Administrative expenses$1,541,857
- Total expenses$605,839,006
- Net income$1,528,147,151
- Net transfers$0
- Net assets, end of year$12,568,126,014
Participants
- Active participants24,225
- Retired or separated, receiving benefits151
- Retired or separated, entitled to future benefits19,211
- Participants with account balances41,492
- Total participants, end of year43,741
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Institutional Operations C | Participant loan processing | $838,893 | $0 |
| Strategic Advisors, Inc. | Investment advisory (plan) | $719,560 | $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
- Recordkeeping fees$1,541,557
- Legal fees$300
- Total administrative expenses$1,541,857
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.
- Registered investment companies (mutual funds)$9.68B · 77.0%
- Other investments$1.75B · 14.0%
- Insurance company general account$845M · 6.7%
- Cash (interest and non-interest bearing)$238M · 1.9%
- Participant loans$35.6M · 0.3%
- Receivables$8.6M · 0.1%
- Pooled separate accounts$3.5M · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBaker Tilly US, 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
2FERISA section 404(c) plan2GTotal participant-directed account plan2LCode section 403(b)(1) arrangement (annuity contracts)2MCode section 403(b)(7) accounts (custodial accounts for regulated investment company stock)2RParticipant-directed brokerage accounts provided as an investment option under the plan2TTotal or partial participant-directed account plan with a default investment account3HPlan 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 611000: Educational Services (including schools, colleges, & universities).
Other plans of The Board of Trustees of the Leland Stanford Junior University
| Plan | Participants | Net assets |
|---|---|---|
| Stanford University Staff Retirement Annuity Plan | 2,367 | $197M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| University of Southern California Defined Contribution Retirement Plan | University of Southern California | 44,381 | $5.01B | $112,948 |
| Caltech Base Retirement Plan | California Institute of Technology | 22,143 | $5.25B | $236,945 |
| University of Southern California Tax-Deferred Annuity Plan | University of Southern California | 46,627 | $4.82B | $103,337 |
| Caltech Voluntary Retirement Plan | California Institute of Technology | 11,613 | $2.34B | $201,138 |
| Think Together - 403(b) Erisa Plan | Think Together | 8,181 | $10.1M | $1,231 |
| National University Retirement Savings Plan | National University | 7,455 | $319M | $42,833 |
Defined contribution plans in educational services closest in size.
Questions and answers
How big is Stanford Contributory Retirement Plan?
43,741 participants at the end of the plan year ending 31 Dec 2024, of whom 24,225 were active employees, with net assets of $12,568,126,014. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does The Board of Trustees of the Leland Stanford Junior University contribute per participant?
The filing reports $266,523,250 in employer contributions for the year, which is $11,002 per active participant; the median for plans of the same type and size was $2,417 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 $1,558,453 in compensation to service provider organisations, $35.63 per participant or 0.01% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $1,541,857. 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 The Board of Trustees of the Leland Stanford Junior University. Recordkeeping or administration: Fidelity Institutional Operations C. Investment advisory or management: Strategic Advisors, Inc.. The financial statements were audited by Baker Tilly US, 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 94-1156365, 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.