California › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Kaiser Permanente Tax Sheltered Annuity Plan
Sponsored by Kaiser Foundation Health Plan, Inc., Oakland, 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, Kaiser Permanente Tax Sheltered Annuity Plan covered 105,882 participants and held $13.8B in net assets. The plan is a 401(k) plan sponsored by Kaiser Foundation Health Plan, Inc. of Oakland, California.
Net assets came to $130,803 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $30,764 median for defined contribution plans in health care and social assistance. 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 $71.9M during the year, or $897 per active participant against a same-size median of $2,417; participants contributed $808M and $62.2M arrived as rollovers and other contributions. Benefits paid out totalled $983M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $5.3M: $50.44 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $5.0M. 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 $1.83B in 2018 to $13.8B in 2024 (up 656%), and participants from 33,596 to 105,882 (up 215%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $130,803 | $62,774 | $30,764 | $53,102 |
| Employer contributions per active participant | $897 | $2,417 | $1,536 | $2,175 |
| Schedule C compensation per participant | $50.44 | $36.41 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.04% | 0.07% | 0.31% | 0.26% |
| Administrative expenses per participant | $46.97 | $38.81 | $86.53 | $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), health care and social assistance (9,402) 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 | 105,882 | $13.8B | $130,803 | $71.9M | $808M | $5.3M |
| 2023 | 110,792 | $12.3B | $110,804 | $30.0M | $252M | $1.4M |
| 2022 | 37,575 | $2.86B | $76,067 | $26.4M | $227M | $1.2M |
| 2021 | 34,365 | $3.31B | $96,326 | $26.1M | $220M | $1.9M |
| 2020 | 33,324 | $2.84B | $85,305 | $34.6M | $200M | $1.2M |
| 2019 | 33,290 | $2.33B | $69,976 | $26.5M | $185M | $1.4M |
| 2018 | 33,596 | $1.83B | $54,499 | $28.1M | $170M | $1.1M |
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$12,276,186,295
- Employer contributions$71,900,067
- Participant contributions$808,193,831
- Rollovers and other contributions$62,200,746
- Total contributions$942,294,644
- Total income, including investment results$2,561,985,207
- Benefits paid$983,055,477
- Administrative expenses$4,973,112
- Total expenses$988,512,372
- Net income$1,573,472,835
- Net transfers$0
- Net assets, end of year$13,849,659,130
Participants
- Active participants80,148
- Retired or separated, receiving benefits2,212
- Retired or separated, entitled to future benefits22,838
- Participants with account balances104,754
- Total participants, end of year105,882
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Vanguard Advisers Inc. | Investment advisory (participants) | $3,959,711 | $0 |
| The Vanguard Group, Inc. | Recordkeeping and information management; Custodial (securities); Participant loan processing; Participant communication | $1,309,001 | $0 |
| Charles Schwab & Co., Inc. | Other fees | $53,551 | $0 |
| Qdro Consultants Co. LLC | Consulting (general) | $18,000 | $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$4,973,112
- Total administrative expenses$4,973,112
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)$13.0B · 93.8%
- Insurance company general account$593M · 4.3%
- Participant loans$163M · 1.2%
- Other investments$100M · 0.7%
- Receivables$3.0M · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBaker Tilly US, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $85,000,000
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2RParticipant-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 621491: HMO Medical Centers.
Other plans of Kaiser Foundation Health Plan, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Kaiser Permanente Retirement Plan | 205,262 | $34.4B |
| Kaiser Permanente 401(k) Retirement Plan | 179,236 | $22.5B |
| Kaiser Permanente Supplemental Savings and Retirement Plan | 51,649 | $5.67B |
| Kaiser Permanente Supplemental Savings and Retirement Plan for Union Groups | 15,526 | $833M |
| Kaiser Permanente Tax Sheltered Annuity Plan | 11,400 | $1.24B |
| Kaiser Permanente Northwest Supplemental Retirement Plan | 521 | $61.4M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Kaiser Permanente 401(k) Retirement Plan | Kaiser Foundation Health Plan, Inc. | 179,236 | $22.5B | $125,762 |
| Sutter Health 403(b) Savings Plan | Sutter Health | 78,643 | $7.63B | $96,993 |
| Kaiser Permanente Supplemental Savings and Retirement Plan | Kaiser Foundation Health Plan, Inc. | 51,649 | $5.67B | $109,733 |
| Ensign Services, Inc. 401(k) Retirement Savings Plan | Ensign Services, Inc. | 44,562 | $374M | $8,388 |
| Stanford Health Care Retirement Savings Plan | Stanford Health Care | 39,275 | $6.93B | $176,479 |
| The Permanente Medical Group, Inc. Salary Deferral Plan | The Permanente Medical Group, Inc. | 30,066 | $9.88B | $328,692 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is Kaiser Permanente Tax Sheltered Annuity Plan?
105,882 participants at the end of the plan year ending 31 Dec 2024, of whom 80,148 were active employees, with net assets of $13,849,659,130. 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 Kaiser Foundation Health Plan, Inc. contribute per participant?
The filing reports $71,900,067 in employer contributions for the year, which is $897 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 $5,340,263 in compensation to service provider organisations, $50.44 per participant or 0.04% 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 $4,973,112. 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 Kaiser Foundation Health Plan, Inc.. Recordkeeping or administration: The Vanguard Group, Inc.. Investment advisory or management: Vanguard Advisers Inc.. Trustee or custodian: The Vanguard Group, 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. 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 1 Sep 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 94-1340523, plan 039, received 1 Sep 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.