401(k) · DOL Form 5500 · 2023
National Grid USA Service Company, Inc. 401(k) Plan
Data updated 2026-08-06
- $5.9B
- Total assets
- 16,248
- Participants
- 100th
- Percentile by assets
- $362,962
- Avg per participant
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.
- 100th percentile by assets (of 126,618 plans)
- #708 in Utilities (719 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 ~795 per filing). Assets: $5.9B.
- $5.9B
- total plan assets (2023 EOY)
- 16,248
- covered participants
- 100th
- percentile by assets (of 126,618 plans)
- $362,962
- avg assets per participant
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.
Participants vs New York filers
In New York, the average filing covers about 795 participants across 8,491 plans. National Grid USA Co. Incentive Thrift Plan reports 16,248 participants - 20x that state average ($5.9B EOY assets).
New York filing particulars
| Total Assets (Beginning of Year) | $5.2B |
|---|---|
| Net Assets (End of Year) | $5.9B |
| Net Income | $688M |
| Employer EIN | 041663150 |
| Plan Effective Date | 1984-09-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (National Grid USA Service Company, Inc.)
| 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
- IBM 401 (K) Plus Plan $57.4B · 54,912
- Pfizer Savings Plan $19.6B · 30,033
- Morgan Stanley 401(k) Plan $19.2B · 55,363
- The Pepsico Savings Plan $13.7B · 133,597
- The Goldman Sachs 401(k) Plan $11.4B · 24,866
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 (0.051% of the $11.6T held by all Form 5500 filers in the national rollup , and 0.018% of 89,805,449 covered participants) - about $362,962 per participant (2.7x 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 (401(k), $6.4B, 17,179 participants)
- The Keyspan Retirement Plan (Defined Benefit (Pension), $2.2B, 2,580 participants)
- National Grid USA Companies Final Average Pay Pension Plan (Defined Benefit (Pension), $2.1B, 1,668 participants)
- The Retirement Income Plan of Keyspan Corporation (Defined Benefit (Pension), $1.6B, 1,054 participants)
Similar-Sized 401(k) Plans Nationally
401(k) plans in other states closest to National Grid USA Co. Incentive Thrift Plan by total assets, not by location.
- 401(k) Savings and Profit Sharing Plan for Employees of Nike, Inc. (OR) $5.9B · 40,345
- Exelon Corporation Employee Savings Plan (IL) $5.8B · 19,297
- Jacobs 401(k) Plus Savings Plan (TX) $5.8B · 15,739
- Basf Corporation Retirement Savings Plan (NJ) $6.0B · 12,806
Frequently Asked Questions
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Filing takeaways
Ways to act on National Grid USA Co. Incentive Thrift Plan's numbers.
- By total assets, National Grid USA Co. Incentive Thrift Plan ranks among the largest 1% of all filed plans. See the largest plans
- Compare it side-by-side against 3 similar 401(k) plans in New York. Compare plans
- National Grid USA Service Company, Inc.'s sponsor-wide assets have grown 5.0% since 2022 across 3 plan years on file. More Utilities plans