State by plan year
California retirement plan filings, 2023
Plan years beginning in 2023, as filed with the Department of Labor.
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.
For plan years beginning in 2023, 15,565 pension plans based in California filed the full Form 5500, 8,234 of them with 100 or more participants (7,873 defined contribution, 361 defined benefit).
Those filings reported 13,426,581 participant records and $1.21T in net assets, 11.0% of the national total. Employers contributed $33.8B, participants $51.9B, and $84.5B was paid in benefits.
475 filings were marked as a plan's first return and 598 as its final return. A further 129,224 small plans filed the short Form 5500-SF, with 2,870,380 participants and $149.7B in net assets.
Against 2022: large plans down 13%, participant records down 2%, net assets up 16%.
California and the United States, 2023
| Measure | California | United States | California share |
|---|---|---|---|
| Pension plans on Form 5500 | 15,565 | 130,947 | 11.9% |
| Plans with 100+ participants | 8,234 | 73,434 | 11.2% |
| Participant records | 13,426,581 | 137,576,381 | 9.8% |
| Net assets | $1.21T | $11.02T | 11.0% |
| Employer contributions | $33.8B | $284.7B | 11.9% |
| Participant contributions | $51.9B | $371.1B | 14.0% |
| Benefits paid | $84.5B | $917.7B | 9.2% |
| First returns | 475 | 4,567 | 10.4% |
| Final returns | 598 | 5,242 | 11.4% |
| Small plans on Form 5500-SF | 129,224 | 716,521 | 18.0% |
Median plan, 2023
| Plans with 100+ participants | CA: DC | US: DC | CA: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $46,606 | $47,338 | $92,711 | $81,709 |
| Employer contributions per active participant | $2,150 | $2,068 | $10,642 | $9,899 |
| Schedule C compensation per participant | $96.65 | $108 | $393 | $319 |
| Administrative expenses per participant | $90.52 | $102 | $563 | $553 |
Change from 2022
| Measure | 2022 | 2023 | Change |
|---|---|---|---|
| Plans with 100+ participants | 9,418 | 8,234 | down 13% |
| Participant records | 13,749,930 | 13,426,581 | down 2% |
| Net assets | $1.04T | $1.21T | up 16% |
| Employer contributions | $32.9B | $33.8B | up 3% |
| Median DC assets per participant | $33,270 | $46,606 | up 40% |
All California plans, providers and the largest plans
Questions and answers
How many retirement plans filed in California for 2023?
15,565 pension plans on the full Form 5500 (8,234 with 100 or more participants) and 129,224 small plans on Form 5500-SF.
How many new and terminated plans were there?
475 full-form filings were marked as a first return and 598 as a final return. A final return is filed when a plan terminates or merges into another plan.
What was the median plan like?
The median defined contribution plan with 100 or more participants held $46,606 per participant, and the median employer contribution was $2,150 per active participant.
Why is the state the sponsor's state?
Form 5500 records the plan sponsor's address, not where participants live. A national employer's plan is counted once, in the state of its headquarters filing address.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 and Form 5500-SF research files for 2023, public domain, with filings received through 24 Aug 2026. First and final returns are the filer's own check-boxes on the form. See the methodology.