Puerto Rico › Manufacturing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
The Retirement Plan for Lilly Affiliate Employees in Puerto Rico
Sponsored by Lilly del Caribe, Inc., Carolina, PR
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.
The Retirement Plan for Lilly Affiliate Employees in Puerto Rico is a defined benefit pension plan sponsored by Lilly del Caribe, Inc. of Carolina, Puerto Rico. For the plan year ending 31 Dec 2024 it reported 2,771 participants, 1,198 of them active, and net assets of $335M.
Net assets came to $120,801 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $67,961 median for defined benefit plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $393K: $142 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $396K. 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 $204M in 2011 to $335M in 2024 (up 64%), and participants from 2,331 to 2,771 (up 19%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $120,801 | $87,935 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $6,915 | $10,244 |
| Schedule C compensation per participant | $142 | $325 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.12% | 0.41% | 0.47% | 0.42% |
| Administrative expenses per participant | $143 | $513 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), manufacturing (1,532) 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 | 2,771 | $335M | $120,801 | — | — | $393K |
| 2023 | 2,706 | $335M | $123,920 | — | — | $381K |
| 2022 | 2,645 | $324M | $122,423 | — | — | $390K |
| 2021 | 2,531 | $387M | $152,962 | — | — | $346K |
| 2020 | 2,485 | $340M | $136,699 | $8.6M | — | $351K |
| 2019 | 2,457 | $294M | $119,854 | — | — | $349K |
| 2018 | 2,483 | $255M | $102,835 | — | — | $356K |
| 2017 | 2,451 | $280M | $114,434 | — | — | $354K |
| 2016 | 2,456 | $250M | $101,841 | — | — | $361K |
| 2015 | 2,511 | $243M | $96,598 | — | — | $356K |
| 2014 | 2,466 | $256M | $103,788 | — | — | $306K |
| 2013 | 2,467 | $251M | $101,812 | — | — | $355K |
| 2012 | 2,421 | $230M | $95,150 | $9.0M | — | $437K |
| 2011 | 2,331 | $204M | $87,637 | — | — | $181K |
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$335,326,883
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$15,904,039
- Benefits paid$16,096,512
- Administrative expenses$395,880
- Total expenses$16,492,392
- Net income−$588,353
- Net transfers$0
- Net assets, end of year$334,738,530
Participants
- Active participants1,198
- Retired or separated, receiving benefits935
- Retired or separated, entitled to future benefits478
- Total participants, end of year2,771
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting, Inc. | Actuarial | $146,740 | $0 |
| Alight Solutions LLC | Recordkeeping and information management; Consulting (pension) | $128,417 | $0 |
| Banco Popular de Puerto Rico | Trustee (bank, trust company, or similar financial institution) | $46,193 | $0 |
| Plante & Moran PLLC | Accounting (including auditing) | $29,770 | $0 |
| Eli Lilly and Company | Contract Administrator | $21,368 | $0 |
| Ernst & Young LLP | Accounting (including auditing) | $20,120 | $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
- Actuarial fees$146,740
- Recordkeeping fees$128,417
- Other trustee fees and expenses$46,193
- Other administrative expenses$33,042
- Salaries and allowances$21,368
- IQPA audit fees$20,120
- Total administrative expenses$395,880
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.
- Master trust investment accounts$333M · 99.6%
- Receivables$1.4M · 0.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmErnst & Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $35,000,000
- 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 related3CPlan not intended to be qualified3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 325410: Pharmaceutical & Medicine Mfg.
Other plans of Lilly del Caribe, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| The Savings Plan for Lilly Affiliate Employees in Puerto Rico | 1,935 | $519M |
Similar plans in Puerto Rico
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Abbvie Puerto Rico Pension Plan | Abbvie Ltd. | 3,012 | $471M | $156,469 |
| Thermo King Puerto Rico Manufactura, Inc. Pension Plan | Thermo King Puerto Rico Manufactura, Inc. | 674 | $13.6M | $20,123 |
| MSD Puerto Rico Pension Plan | MSD International GMBH (Puerto Rico Branch), LLC | 4,661 | $412M | $88,464 |
| Cemex de Puerto Rico, Inc. Employees' Pension Plan | Cemex de Puerto Rico, Inc. | 553 | $24.5M | $44,232 |
| Components Pension Plan for Puerto Rico | GE Industrial of PR LLC | 6,143 | $163M | $26,532 |
| Retirement Plan for Employees of Bacardi Corporation | Bacardi Corporation | 414 | $50.3M | $121,503 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is The Retirement Plan for Lilly Affiliate Employees in Puerto Rico?
2,771 participants at the end of the plan year ending 31 Dec 2024, of whom 1,198 were active employees, with net assets of $334,738,530. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Lilly del Caribe, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $392,608 in compensation to service provider organisations, $142 per participant or 0.12% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $395,880. 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 Lilly del Caribe, Inc.. Recordkeeping or administration: Alight Solutions LLC and Eli Lilly and Company. Trustee or custodian: Banco Popular de Puerto Rico. The financial statements were audited by Ernst & Young 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 9 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 98-0167031, plan 020, received 9 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.