401(k) · DOL Form 5500 · 2023

National Grid USA Service Company, Inc. 401(k) Plan

Data updated 2026-08-25

$5.9B
Total assets Very large vs avg
16,248
Participants Very large workforce
100th
Percentile by assets National rank
$362,962
Avg per participant High balance/head
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Official DOL plan name: National Grid USA Co. Incentive Thrift Plan · Sponsored by National Grid USA Service Company, Inc. · New York · Utilities

$5.9B in assets, 16,248 participants

National Grid USA Service Company, Inc.'s National Grid USA Co. Incentive Thrift Plan reported $5.9B in total assets and 16,248 participants in its 2023 DOL Form 5500 filing, ranking in the 100th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #710 in Utilities (721 peers)

Coverage in New York

National Grid USA Co. Incentive Thrift Plan covers 16,248 participants in New York, 20x the typical New York plan (state average ~798 per filing). Assets: $5.9B.

#710
in Utilities (721 peers)
+13.2%
assets growth YoY
59×
vs typical plan assets (national mean)

National Grid USA Co. Incentive Thrift Plan's outsized position by total assets

National Grid USA Co. Incentive Thrift Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$5,897,404,195 Highest reported value at or above every one of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

National Grid USA Co. Incentive Thrift Plan's mega-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. National Grid USA Co. Incentive Thrift Plan is a mega filing (16,248 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • National Grid USA Co. Incentive Thrift Plan reported net income rose from -$1.1B in the plan year 2022 filing to $688M in the plan year 2023 filing.
  • National Grid USA Co. Incentive Thrift Plan reported participants fell from 20,346 in the plan year 2022 filing to 16,248 in the plan year 2023 filing.
  • National Grid USA Co. Incentive Thrift Plan end-of-year assets rose from $5.2B in the plan year 2022 filing to $5.9B in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 041663150 · National Grid USA Service Company, Inc. PY 2023 · 401(k)

National Grid USA Co. Incentive Thrift Plan · $5.9B · 16,248 · 100th

  • RANK $5.9B
  • RANK 16,248
  • RANK 100th
  • RANK 401(k)
  • RANK near 401(k) Savings and Profit Sharing Plan for Employees of Nike, Inc.
  • RANK ind #710

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Utilities retirement plans → · Plans in New York →

National Grid USA Co. Incentive Thrift Plan in the asset neighbourhood

Basf Corporation Retirement Savings PlanBasf Corporation Retirement …$6.0BNational Grid USA Co. Incentive Thrift PlanNational Grid USA Co. Incent…$5.9B401(k) Savings and Profit Sharing Plan for Employees of Nike, Inc.401(k) Savings and Profit Sh…$5.9BExelon Corporation Employee Savings PlanExelon Corporation Employee …$5.8BJacobs 401(k) Plus Savings PlanJacobs 401(k) Plus Savings P…$5.8B
End-of-year total assets ($B) among National Grid USA Co. Incentive Thrift Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

New York filing particulars

Total Assets (Beginning of Year)$5.2B
Net Assets (End of Year)$5.9B
Net Income$688M
Employer EIN041663150
Plan Effective Date1984-09-01
Filing StatusFILING RECEIVED

Sponsor Plan History (National Grid USA Service Company, Inc.)

Sponsor-wide plan assets over time

All National Grid USA Service Company, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$13.5B 5.030290688647641% vs 2022
2024 filing year
$12.6B$12.8B$13B$13.2B$13.4B$13.6B 202220232024 $12.8B $13.5B ▲ +5.0%
Year Plans Participants Total Assets
2022 7 30,556 $12.8B
2023 7 25,487 $13.0B
2024 7 26,129 $13.5B

Nearby 401(k) Plans in New York

Peer 401(k) plans, same state, same plan type, ranked by total assets.

National Grid USA Co. Incentive Thrift Plan vs. nearby 401(k) plans in New York, assets vs. participants Scatter plot of 6 data points. 050000100000150000 020406080 Total assets ($B) Participants National Grid USA Co. Incentive Thrift Plan, Total assets ($B): 5.897404195 · Participants: 16248National Grid USA Co. Incentive Thrift PlanIBM 401 (K) Plus Plan, Total assets ($B): 57.428456306 · Participants: 54912IBM 401 (K) Plus PlanPfizer Savings Plan, Total assets ($B): 19.56134085 · Participants: 30033Pfizer Savings PlanMorgan Stanley 401(k) Plan, Total assets ($B): 19.235068266 · Participants: 55363Morgan Stanley 401(k) PlanThe Pepsico Savings Plan, Total assets ($B): 13.651296 · Participants: 133597The Pepsico Savings PlanThe Goldman Sachs 401(k) Plan, Total assets ($B): 11.428659742 · Participants: 24866The Goldman Sachs 401(k) Plan
National Grid USA Co. Incentive Thrift Plan vs. nearby 401(k) plans in New York, assets vs. participants
Compare National Grid USA Co. Incentive Thrift Plan side-by-side with 3 peers →

Scale composition for National Grid USA Co. Incentive Thrift Plan

National Grid USA Co. Incentive Thrift Plan reports $5.9B in end-of-year assets across 16,248 participants (0.048% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.017% of 93,925,755 covered participants) - about $362,962 per participant (2.6x the national average assets-per-participant) . Net income for plan year 2023 was $688M.

This plan identity (EIN 041663150, plan #007) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $5.2B to $6.4B (+23.5%) while covered participants moved from 20,346 to 17,179 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 20,346 $5.2B Open filing
2023 16,248 $5.9B This page
2024 · index core 17,179 $6.4B Open filing

The same sponsor also keeps 4 other index-core plans on PlainRetire:

National Grid USA Co. Incentive Thrift Plan's out-of-state 401(k) peers by assets and headcount

Outside New York, the nearest 401(k) by assets is 401(k) Savings and Profit Sharing Plan for Employees of Nike, Inc. in OR ($5.9B); by covered participants it is Parkview Health System, Inc. Retirement Savings Plan in IN (16,241 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($5.9B here).

Similar participant headcount

Nearest other-state filings by covered participants (16,248 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did National Grid USA Co. Incentive Thrift Plan assets move in 2023? ▼
National Grid USA Co. Incentive Thrift Plan grew at a solid clip - up 13.2% during 2023, from $5.2B to $5.9B. Reported net income was $688M.
How have National Grid USA Service Company, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), National Grid USA Service Company, Inc.'s sponsor-wide assets grew 5.0%, from $12.8B to $13.5B.
Where does National Grid USA Co. Incentive Thrift Plan rank by assets among Form 5500 filers? ▼
National Grid USA Co. Incentive Thrift Plan ranks in the 100th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which 401(k) plans are similar in size to National Grid USA Co. Incentive Thrift Plan? ▼
Among 401(k) plans in other states, the closest by assets is 401(k) Savings and Profit Sharing Plan for Employees of Nike, Inc. in OR ($5.9B, 40,345 participants).
Which 401(k) plans cover a similar participant headcount to National Grid USA Co. Incentive Thrift Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Parkview Health System, Inc. Retirement Savings Plan in IN (16,241 participants, $672M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 041663150.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.