Finance & Insurance Retirement Plans
8,881 ERISA-covered retirement plans in the Finance & Insurance industry, holding $1.5T for 7,662,116 participants per 2024 Form 5500 filings.
$1.5T across 8,881 plans
According to DOL Form 5500 filings (plan year 2024), the Finance & Insurance industry sponsors 8,881 ERISA-covered retirement plans holding $1.5T for 7,662,116 participants, ranking #2 of 21 industries by plan assets, with 76.6% structured as 401(k)s.
- #2 of 21 industries
- 76.6% 401(k) plans
The industry in one line
Finance & Insurance sponsors 8,881 ERISA-covered retirement plans holding $1.5T for 7,662,116 participants, the 2nd-largest industry by plan assets.
- $1.5T
- total plan assets
- 8,881
- employer plans
- $167M
- average plan size
- 76.6%
- of plans are 401(k)s
What the Finance & Insurance Industry Plan Filings Show
The Finance & Insurance industry sponsors 8,881 ERISA-covered retirement plans according to 2024 Form 5500 filings, ranking #2 of 21 industries on PlainRetire by total plan assets. Within the industry, 76.6% of plans are 401(k) defined-contribution arrangements (6,799 plans), with the remainder split across defined-benefit pension plans, profit-sharing arrangements, ESOPs, and money-purchase plans. The average plan in Finance & Insurance holds $167M in end-of-year assets and covers 863 participants.
Industry-level totals reflect aggregate sponsor disclosures on Form 5500 Schedule H and Schedule I and provide a useful frame for benchmarking individual employer plans. They are not a substitute for plan-specific Summary Plan Description review when evaluating any single plan. Industry classification is self-reported by sponsors based on the primary economic activity of the sponsoring employer. Plans whose sponsor industry has changed across years (mergers, restructurings) carry the most-recent classification on file.
Plan Type Breakdown (Finance & Insurance)
| Plan Type | Plans | Participants | Total Assets |
|---|---|---|---|
| 401(k) | 6,799 | 5,825,827 | $1.1T |
| Defined Benefit (Pension) | 863 | 1,402,005 | $389.9B |
| Money Purchase | 124 | 97,411 | $15.0B |
| Profit Sharing | 539 | 212,702 | $12.8B |
| ESOP | 512 | 103,354 | $10.3B |
| Other | 40 | 20,355 | $1.9B |
| IRA-Based | 4 | 462 | $11M |
Largest Finance & Insurance Plans by Assets
Top 30 Finance & Insurance retirement plans ranked by 2024 end-of-year total assets.
| # | Plan | Sponsor | State | Type | Participants | Assets |
|---|---|---|---|---|---|---|
| 1 | JPMorgan Chase 401(k) Savings Plan | JPMorgan Chase Bank, National Association | NJ | 401(k) | 185,532 | $52.9B |
| 2 | State Farm Insurance Companies Retirement Plan for United States Employees | State Farm Mutual Automobile Insurance Company | IL | Defined Benefit (Pension) | 41,619 | $37.7B |
| 3 | Fidelity Retirement Savings Plan | Fmr LLC | MA | 401(k) | 66,907 | $34.2B |
| 4 | Central Pension Fund of the Iuoe & Participating Employers | Board of Trustees of the Cpf of the Iuoe and Participating Employers | DC | Defined Benefit (Pension) | 103,525 | $27.4B |
| 5 | Citi Retirement Savings Plan | Citigroup Inc. | CT | 401(k) | 78,741 | $23.2B |
| 6 | Morgan Stanley 401(k) Plan | Morgan Stanley Domestic Holdings, LLC | NY | 401(k) | 53,860 | $22.2B |
| 7 | State Farm 401(k) Savings Plan | State Farm Mutual Automobile Insurance Company | IL | 401(k) | 63,297 | $19.0B |
| 8 | JPMorgan Chase Retirement Plan | JPMorgan Chase Bank, National Association | NJ | Defined Benefit (Pension) | 83,812 | $16.1B |
| 9 | Truist Financial Corporation Pension Plan | Truist Financial Corporation | NC | Defined Benefit (Pension) | 38,548 | $14.7B |
| 10 | The Cigna Group 401(k) Plan | The Cigna Group | PA | 401(k) | 63,634 | $14.2B |
| 11 | The Goldman Sachs 401(k) Plan | The Goldman Sachs Group, Inc. | NY | 401(k) | 23,227 | $12.8B |
| 12 | Edward D. Jones & Co. Profit Sharing and 401(k) Plan | Edward D. Jones & Co., L.P. | MO | 401(k) | 47,254 | $12.4B |
| 13 | Elevance Health 401(k) Plan | Ath Holding Company, LLC | IN | 401(k) | 73,120 | $12.1B |
| 14 | The Prudential Merged Retirement Plan | The Prudential Insurance Company of America | NJ | Defined Benefit (Pension) | 16,233 | $12.0B |
| 15 | The Progressive 401(k) Plan | The Progressive Corporation & Its Participating Subsidiaries | OH | 401(k) | 62,521 | $11.5B |
| 16 | U.S. Bank 401(k) Savings Plan | U.S. Bancorp | MN | 401(k) | 73,109 | $11.4B |
| 17 | Liberty Mutual 401(k) Plan | Liberty Mutual Group Inc. | MA | 401(k) | 34,618 | $11.4B |
| 18 | The Vanguard Retirement and Savings Plan | The Vanguard Group, Inc. | PA | 401(k) | 18,066 | $11.1B |
| 19 | Usaa Retirement Savings Plan | United Services Automobile Association | TX | 401(k) | 37,273 | $10.9B |
| 20 | The Prudential Employee Savings Plan | The Prudential Insurance Company of America | NJ | 401(k) | 17,685 | $10.7B |
| 21 | The Travelers 401(k) Savings Plan | Travelers Companies, Inc. | MN | 401(k) | 30,233 | $10.4B |
| 22 | Ubs 401(k) Plan Trust | Ubs Ag | NJ | 401(k) | 21,350 | $10.2B |
| 23 | The PNC Financial Services Group, Inc. Incentive Savings Plan | The PNC Financial Services Group, Inc. | PA | 401(k) | 54,604 | $10.2B |
| 24 | The Citigroup Pension Plan | Citigroup Inc. | CT | Defined Benefit (Pension) | 15,906 | $10.0B |
| 25 | The Bank of New York Mellon Corporation 401(k) Savings Plan | The Bank of New York Mellon Corporation | PA | 401(k) | 24,183 | $9.9B |
| 26 | Truist Financial Corporation 401(k) Savings Plan | Truist Financial Corporation | NC | 401(k) | 52,699 | $9.2B |
| 27 | American Express Retirement Savings Plan | American Express Company and Its Participating Subsidiaries | NY | 401(k) | 25,030 | $9.1B |
| 28 | Schwabplan Retirement Savings and Investment Plan | The Charles Schwab Corporation | TX | 401(k) | 34,452 | $8.9B |
| 29 | Nationwide Savings Plan | Nationwide Mutual Insurance Company | OH | 401(k) | 24,370 | $8.3B |
| 30 | Metlife 401(k) Plan | Metlife Group, Inc. | NJ | 401(k) | 14,717 | $8.3B |
Nationwide industries with similar retirement plan scale
Two DOL Form 5500-derived peer sets for Finance & Insurance: nearest tracked industries by plan filing count (8,881 plans here) and nearest by aggregate plan assets ($1.5T here). Rows stay link-disjoint so each axis is a distinct neighborhood.
Similar plan count
Nearest other industries by reported employer plan filings.
- Retail Trade 8,594 plans
- Construction 9,435 plans
- Other Services 8,303 plans
- Wholesale Trade 6,322 plans
Similar total assets
Nearest other industries by aggregate end-of-year plan assets (plan-count peers above are excluded).
- Professional & Technical Services $1.4T · 21,045 plans
- Healthcare & Social Assistance $1.3T · 17,796 plans
- Information & Media $647.6B · 2,937 plans
- Transportation & Warehousing $625.8B · 3,472 plans
Questions about Finance & Insurance plans
How many retirement plans are in the Finance & Insurance industry? ▼
What's the average plan size in the Finance & Insurance industry? ▼
Where does this industry data come from? ▼
What plan types are most common in the Finance & Insurance industry? ▼
Related guides
See also these PlainRetire explainers for interpreting Form 5500 industry totals and comparing plans.
Explore from Finance & Insurance
What to do with Finance & Insurance plan data
8,881 plans across the Finance & Insurance sector offer a baseline for benchmarking your own plan.
- Compare reported plan assets, participants, and filing fields against Finance & Insurance peers using the Form 5500 search. Search Form 5500 filings
- See how this industry ranks against others for retirement plan coverage and assets. Industry coverage guide
- Use the fee calculator to estimate how plan fees compound over a career. 401(k) fee calculator
Industry classification is self-reported by plan sponsors on Form 5500. Plans may span multiple sectors.
Source: U.S. Department of Labor EBSA Form 5500 public-disclosure dataset, 2024 plan year. Industry classification self-reported by sponsors.
Reference: IRS Publication 560, Retirement Plans for Small Business.
Every figure on PlainRetire is rendered directly from the Department of Labor's Form 5500 annual return filings, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of 2026-08-25.