California › Professional, scientific and technical services › 100 to 249 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Hay Benefits Practice Group Pension Plan
Sponsored by Korn Ferry, Los Angeles, 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.
Hay Benefits Practice Group Pension Plan is a defined benefit pension plan sponsored by Korn Ferry of Los Angeles, California. For the plan year ending 30 Jun 2025 it reported 152 participants, 10 of them active, and net assets of $19.4M.
Net assets came to $127,349 per participant, well above the $80,635 median for defined benefit plans with 100 to 249 participants and well below the $176,808 median for defined benefit plans in professional, scientific and technical services. 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 $555K for the year ($55,462 per active participant) and benefits paid were $1.9M. 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 5 service provider organisations paid $5,000 or more, with reported compensation of $238K: $1,565 per participant, well above the same-size median of $451. Administrative expenses charged to the plan were $361K. 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 $24.9M in 2015 to $19.4M in 2024 (down 22%), and participants from 192 to 152 (down 21%).
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 | $127,349 | $80,635 | $176,808 | $86,221 |
| Employer contributions per active participant | $55,462 | $9,975 | $35,855 | $10,244 |
| Schedule C compensation per participant | $1,565 | $451 | $450 | $344 |
| Schedule C compensation, share of net assets | 1.2% | 0.52% | 0.30% | 0.42% |
| Administrative expenses per participant | $2,373 | $582 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 100 to 249 participants (1,156 plans), professional, scientific and technical services (277) 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 | 152 | $19.4M | $127,349 | $555K | — | $238K |
| 2023 | 152 | $19.3M | $127,230 | $626K | — | $204K |
| 2022 | 153 | $19.6M | $128,288 | $517K | — | $210K |
| 2021 | 154 | $20.2M | $131,461 | $96K | — | $214K |
| 2020 | 160 | $26.7M | $166,844 | $233K | $0 | $252K |
| 2019 | 168 | $25.2M | $150,250 | $493K | — | $234K |
| 2018 | 191 | $26.1M | $136,864 | $320K | — | $142K |
| 2017 | 193 | $25.6M | $132,798 | $122K | — | $210K |
| 2016 | 193 | $26.2M | $135,705 | $127K | — | $136K |
| 2015 | 192 | $24.9M | $129,484 | — | — | $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$19,338,575
- Employer contributions$554,615
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$554,615
- Total income, including investment results$2,258,810
- Benefits paid$1,879,745
- Administrative expenses$360,634
- Total expenses$2,240,379
- Net income$18,431
- Net transfers$0
- Net assets, end of year$19,357,006
Participants
- Active participants10
- Retired or separated, receiving benefits92
- Retired or separated, entitled to future benefits38
- Total participants, end of year152
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Towers Watson Investment Services | Investment management | $125,000 | $0 |
| Willis Towers Watson US LLC | Actuarial | $58,956 | $0 |
| Wilmington Trust Company | Trustee (bank, trust company, or similar financial institution) | $29,684 | $0 |
| Barsz Gowie Amon & Fultz, LLC. | Accounting (including auditing) | $12,415 | $0 |
| William E. Howe & Co. | Accounting (including auditing) | $11,760 | $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
- Investment advisory and management fees$128,195
- Other administrative expenses$119,624
- Actuarial fees$58,956
- Trustee and custodial fees$29,684
- IQPA audit fees$24,175
- Total administrative expenses$360,634
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$18.6M · 95.8%
- Cash (interest and non-interest bearing)$617K · 3.2%
- Receivables$197K · 1.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBarsz Gowie Amon & Fultz, LLC.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 related1IFrozen plan3HPlan 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 541600: Management, Scientific, & Technical Consulting Services.
Other plans of Korn Ferry
| Plan | Participants | Net assets |
|---|---|---|
| Korn Ferry 401(k) Savings Plan | 4,130 | $478M |
| Korn Ferry Interim Staff Professionals (Isp) 401(k) Savings Plan | 920 | $12.7M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Intercam Financial Services Inc. Cash Balance Plan | Intercam Financial Services Inc. | 154 | $2.3M | $15,021 |
| Littler Mendelson P.C. Cash Balance Pension Plan | Littler Mendelson P.C. | 142 | $27.7M | $195,321 |
| Fenwick & West LLP Partners' Pension Plan II | Fenwick & West LLP | 163 | $59.9M | $367,727 |
| Buchalter Cash Balance Pension Plan | Buchalter, a Professional Corporation | 127 | $32.1M | $252,886 |
| Lewis Brisbois Bisgaard & Smith LLP Cash Balance Pension Plan III | Lewis Brisbois Bisgaard & Smith LLP | 166 | $54.8M | $330,306 |
| Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP Retirement Plan for Partners | Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP | 127 | $79.9M | $629,217 |
Defined benefit plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Hay Benefits Practice Group Pension Plan?
152 participants at the end of the plan year ending 30 Jun 2025, of whom 10 were active employees, with net assets of $19,357,006. Among defined benefit plans that places it in the 100 to 249 participants band, which held 1,156 plans in plan year 2024.
What does Korn Ferry contribute per participant?
The filing reports $554,615 in employer contributions for the year, which is $55,462 per active participant; the median for plans of the same type and size was $9,975 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 $237,815 in compensation to service provider organisations, $1,565 per participant or 1.2% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $360,634. 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 Korn Ferry. Investment advisory or management: Towers Watson Investment Services. Trustee or custodian: Wilmington Trust Company. The financial statements were audited by Barsz Gowie Amon & Fultz, LLC.. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 14 Apr 2026. 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 95-2623879, plan 007, received 14 Apr 2026; 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.