California › Finance and insurance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Farmers Group, Inc. 401(k) Savings Plan
Sponsored by Farmers Group, Inc., Woodland Hills, 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.
Farmers Group, Inc. of Woodland Hills, California sponsors Farmers Group, Inc. 401(k) Savings Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 28,962 participants (17,891 active) and $4.89B in net assets.
Net assets came to $168,943 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $92,294 median for defined contribution 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.
The employer contributed $147M during the year, or $8,235 per active participant against a same-size median of $2,417; participants contributed $174M. Benefits paid out totalled $469M.
Schedule C lists 13 service provider organisations paid $5,000 or more, with reported compensation of $5.9M: $205 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 $1.31B in 2009 to $4.89B in 2024 (up 272%), and participants from 30,078 to 28,962 (down 4%).
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 | $168,943 | $62,774 | $92,294 | $53,102 |
| Employer contributions per active participant | $8,235 | $2,417 | $3,564 | $2,175 |
| Schedule C compensation per participant | $205 | $36.41 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.12% | 0.07% | 0.17% | 0.26% |
| Administrative expenses per participant | $174 | $38.81 | $130 | $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), finance and insurance (4,391) 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 | 28,962 | $4.89B | $168,943 | $147M | $174M | $5.9M |
| 2023 | 30,557 | $4.55B | $149,066 | $168M | $186M | $6.1M |
| 2022 | 31,855 | $4.04B | $126,669 | $168M | $191M | $5.5M |
| 2021 | 31,370 | $4.66B | $148,453 | $154M | $253M | $5.5M |
| 2020 | 27,210 | $4.10B | $150,767 | $145M | $156M | $5.0M |
| 2019 | 27,476 | $3.57B | $129,811 | $156M | $150M | $5.2M |
| 2018 | 24,866 | $2.91B | $116,827 | $71.5M | $144M | $5.4M |
| 2017 | 24,613 | $3.06B | $124,325 | $73.0M | $138M | $5.1M |
| 2016 | 24,139 | $2.61B | $108,322 | $69.8M | $131M | $4.7M |
| 2015 | 23,894 | $2.40B | $100,302 | $69.8M | $126M | $5.7M |
| 2014 | 24,197 | $2.36B | $97,515 | $68.2M | $120M | $6.1M |
| 2013 | 24,739 | $2.21B | $89,427 | $68.0M | $114M | $985K |
| 2012 | 25,846 | $1.86B | $72,059 | $69.4M | $122M | $341K |
| 2011 | 26,209 | $1.58B | $60,153 | $67.7M | $118M | $499K |
| 2010 | 25,820 | $1.54B | $59,452 | $64.2M | $113M | $456K |
| 2009 | 30,078 | $1.31B | $43,697 | $50.9M | $64.7M | $721K |
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$4,554,998,257
- Employer contributions$147,332,531
- Participant contributions$173,954,445
- Rollovers and other contributions$0
- Total contributions$321,286,976
- Total income, including investment results$821,508,679
- Benefits paid$468,738,812
- Administrative expenses$5,042,816
- Total expenses$481,120,902
- Net income$340,387,777
- Net transfers−$2,444,651
- Net assets, end of year$4,892,941,383
Participants
- Active participants17,891
- Retired or separated, receiving benefits563
- Retired or separated, entitled to future benefits10,385
- Participants with account balances28,334
- Total participants, end of year28,962
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wellington | Investment management | $1,248,337 | $0 |
| The Vanguard Group | Recordkeeping and information management; Consulting (general); Investment management; Securities brokerage; Participant loan processing; Participant communication | $1,208,522 | $0 |
| American Century | Investment management | $941,601 | $0 |
| Mondrian | Investment management | $809,510 | $0 |
| Mellon Bank of New York | Custodial (securities) | $646,952 | $0 |
| Goldman Sachs | Investment management | $378,756 | $0 |
| Pimco | Investment management | $288,141 | $0 |
| Vanguard Advisers Inc. | Investment advisory (participants) | $146,440 | $0 |
| Ernst & Young US LLP | Accounting (including auditing) | $100,425 | $0 |
| BlackRock | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $97,649 | $0 |
| Towers Watson Investment Services, | Consulting (general) | $46,176 | $0 |
| Charles Schwab | Other fees | $16,135 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 1 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$3,678,192
- Recordkeeping fees$1,019,124
- Other administrative expenses$232,367
- IQPA audit fees$100,425
- Legal fees$12,708
- Total administrative expenses$5,042,816
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$3.56B · 71.3%
- Corporate stocks$523M · 10.5%
- Registered investment companies (mutual funds)$276M · 5.5%
- Insurance company general account$159M · 3.2%
- Other investments$107M · 2.1%
- Receivables$95.2M · 1.9%
- Pooled separate accounts$81.9M · 1.6%
- U.S. Government securities$65.8M · 1.3%
- Corporate debt instruments$65.5M · 1.3%
- Participant loans$56.4M · 1.1%
- Cash (interest and non-interest bearing)$3.0M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmErnst & Young
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $20,000,000
- 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) feature2S401(k) plan or 403(b) plan that provides for automatic enrollment2RParticipant-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 524290: Other Insurance Related Activities (including third-party administration of Insurance and pension funds).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Directors Guild of America - Producer Pension Plan Supplemental Benefit Plan | Board of Trustees, Directors Guild of America - | 25,726 | $2.30B | $89,400 |
| Northwest Carpenters Individual Account Pension Plan | Board of Trustees, Northwest Carpenters Individual Account Pension Pla | 21,456 | $707M | $32,938 |
| Visa 401(k) Plan | Visa Inc. | 19,688 | $5.19B | $263,761 |
| Capital Retirement Savings Plan | Capital Group Companies, Inc. | 12,306 | $8.15B | $662,044 |
| LPL Financial LLC Profit Sharing 401(k) Plan | LPL Financial LLC | 10,827 | $940M | $86,787 |
| Blue Shield of California Tax Deferred Salary Investment Plan | California Physicians Service, DBA Blue Shield of Ca | 10,619 | $1.68B | $158,484 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Farmers Group, Inc. 401(k) Savings Plan?
28,962 participants at the end of the plan year ending 31 Dec 2024, of whom 17,891 were active employees, with net assets of $4,892,941,383. 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 Farmers Group, Inc. contribute per participant?
The filing reports $147,332,531 in employer contributions for the year, which is $8,235 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 $5,941,352 in compensation to service provider organisations, $205 per participant or 0.12% 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 $5,042,816. 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 Farmers Group, Inc.. Recordkeeping or administration: The Vanguard Group. Investment advisory or management: Wellington, The Vanguard Group and American Century. Trustee or custodian: Mellon Bank of New York and BlackRock. The financial statements were audited by Ernst & Young. 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 17 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 95-0725935, plan 002, received 17 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.