California › Professional, scientific and technical services › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Pension Plan of General Atomics
Sponsored by General Atomics, San Diego, 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.
General Atomics of San Diego, California sponsors Pension Plan of General Atomics, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 19,371 participants (12,456 active) and $1.02B in net assets.
Net assets came to $52,704 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 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 $84.2M for the year ($6,757 per active participant) and benefits paid were $37.8M. 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 9 service provider organisations paid $5,000 or more, with reported compensation of $4.1M: $213 per participant, below the same-size median of $232. Administrative expenses charged to the plan were $6.0M. 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 $185M in 2009 to $1.02B in 2024 (up 451%), and participants from 7,349 to 19,371 (up 164%).
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 | $52,704 | $87,623 | $176,808 | $86,221 |
| Employer contributions per active participant | $6,757 | $9,468 | $35,855 | $10,244 |
| Schedule C compensation per participant | $213 | $232 | $450 | $344 |
| Schedule C compensation, share of net assets | 0.40% | 0.30% | 0.30% | 0.42% |
| Administrative expenses per participant | $310 | $396 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 19,371 | $1.02B | $52,704 | $84.2M | — | $4.1M |
| 2023 | 18,560 | $937M | $50,473 | $97.8M | — | $3.1M |
| 2022 | 17,785 | $782M | $43,992 | $93.6M | — | $3.1M |
| 2021 | 16,980 | $984M | $57,950 | $102M | — | $3.8M |
| 2020 | 16,909 | $889M | $52,558 | $89.3M | — | $2.2M |
| 2019 | 16,766 | $703M | $41,959 | $73.1M | — | $2.6M |
| 2018 | 16,146 | $605M | $37,444 | $2.0M | — | $2.4M |
| 2017 | 14,270 | $645M | $45,165 | $170M | — | $2.1M |
| 2016 | 12,855 | $462M | $35,903 | $66.8M | — | $1.9M |
| 2015 | 11,442 | $399M | $34,835 | $59.0M | — | $1.5M |
| 2014 | 10,675 | $374M | $34,992 | $65.8M | — | $1.8M |
| 2013 | 10,057 | $316M | $31,415 | $45.0M | — | $1.6M |
| 2012 | 9,636 | $295M | $30,607 | $47.9M | — | $1.1M |
| 2011 | 9,108 | $239M | $26,230 | $32.9M | — | $1.3M |
| 2010 | 8,089 | $221M | $27,270 | $40.8M | — | $1.3M |
| 2009 | 7,349 | $185M | $25,210 | $24.6M | — | $1.0M |
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$936,784,178
- Employer contributions$84,170,000
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$84,170,000
- Total income, including investment results$127,966,971
- Benefits paid$37,825,207
- Administrative expenses$6,003,352
- Total expenses$43,828,559
- Net income$84,138,412
- Net transfers$0
- Net assets, end of year$1,020,922,590
Participants
- Active participants12,456
- Retired or separated, receiving benefits1,731
- Retired or separated, entitled to future benefits4,963
- Total participants, end of year19,371
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| BlackRock Financial Management | Investment management | $2,012,563 | $0 |
| Milliman USA | Actuarial; Claims processing; Recordkeeping and information management; Participant communication | $1,376,619 | $0 |
| Mercer | Actuarial | $203,995 | $0 |
| Northern Trust | Custodial (securities); Trustee (bank, trust company, or similar financial institution) | $164,260 | $0 |
| Wellington Trust Company | Investment management | $113,190 | $0 |
| SageView Advisory Group, LLC | Investment advisory (plan) | $110,000 | $0 |
| Prudential Trust Company | Investment management | $62,883 | $0 |
| Pillsbury Winthrop LLP | Legal | $49,009 | $0 |
| CBIZ CPAS P.C. | Accounting (including auditing) | $36,273 | $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$2,298,636
- Other administrative expenses$1,874,560
- Contract administrator fees$1,376,619
- Actuarial fees$203,995
- Trustee and custodial fees$164,260
- Legal fees$49,009
- IQPA audit fees$36,273
- Total administrative expenses$6,003,352
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$877M · 84.5%
- Receivables$98.9M · 9.5%
- Registered investment companies (mutual funds)$49.1M · 4.7%
- Partnership/joint venture interests$12.2M · 1.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCBIZ CPAS P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 related1CCash balance or similar plan1ECode section 401(h) arrangement3FPlan sponsor(s) received services of leased employees3HPlan 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 541990: All Other Professional, Scientific, & Technical Services.
Other plans of General Atomics
| Plan | Participants | Net assets |
|---|---|---|
| General Atomics 401(k) Retirement Savings Plan | 16,399 | $2.77B |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Aerospace Employees' Retirement Plan (Aerp) | The Aerospace Corporation | 7,438 | $2.14B | $287,832 |
| LLNS Defined Benefit Pension Plan | Lawrence Livermore National Security LLC | 3,570 | $3.86B | $1,082,275 |
| The Scripps Research Institute Cash Balance Retirement Plan | The Scripps Research Institute | 1,517 | $64.9M | $42,799 |
| Latham & Watkins Cash Balance Plan | Latham & Watkins LLP | 720 | $493M | $685,182 |
| Paul Hastings LLP Defined Benefit Retirement Plan for Partners | Paul Hastings LLP | 718 | $1.11B | $1,548,720 |
| Orrick, Herrington & Sutcliffe, LLP Partners' Pension Plan | Orrick, Herrington & Sutcliffe LLP | 484 | $287M | $592,883 |
Defined benefit plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Pension Plan of General Atomics?
19,371 participants at the end of the plan year ending 31 Dec 2024, of whom 12,456 were active employees, with net assets of $1,020,922,590. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does General Atomics contribute per participant?
The filing reports $84,170,000 in employer contributions for the year, which is $6,757 per active participant; the median for plans of the same type and size was $9,468 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 $4,128,792 in compensation to service provider organisations, $213 per participant or 0.40% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $6,003,352. 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 General Atomics. Recordkeeping or administration: Milliman USA. Investment advisory or management: BlackRock Financial Management, Wellington Trust Company and SageView Advisory Group, LLC. Trustee or custodian: Northern Trust. The financial statements were audited by CBIZ CPAS P.C.. 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 24 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 95-3735102, plan 001, received 24 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.