Defined Benefit (Pension) · DOL Form 5500 · 2023

Penske Truck Leasing Co., L.P. Pension Plan

Data updated 2026-08-25

$656M
Total assets Above avg plan size
15,110
Participants Very large workforce
98th
Percentile by assets National rank
$43,403
Avg per participant Low balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Penske Cash Balance Benefit Plan · Sponsored by Penske Truck Leasing Co., L.P. · Pennsylvania · Real Estate

$656M in assets, 15,110 participants

Penske Truck Leasing Co., L.P.'s Penske Cash Balance Benefit Plan reported $656M in total assets and 15,110 participants in its 2023 DOL Form 5500 filing, ranking in the 98th 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.

  • #4,714 in Real Estate (4,727 peers)

Coverage in Pennsylvania

Penske Cash Balance Benefit Plan covers 15,110 participants in Pennsylvania, 18x the typical Pennsylvania plan (state average ~822 per filing). Assets: $656M.

#4,714
in Real Estate (4,727 peers)
+6.1%
assets growth YoY
6.6×
vs typical plan assets (national mean)

Penske Cash Balance Benefit Plan's outsized position by total assets

Penske Cash Balance Benefit Plan vs every filed plan by assets

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

$655,816,884 Top 2% higher than 98% 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

Penske Cash Balance Benefit 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. Penske Cash Balance Benefit Plan is a mega filing (15,110 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Penske Cash Balance Benefit Plan reported net income rose from -$58M in the plan year 2022 filing to $38M in the plan year 2023 filing.
  • Penske Cash Balance Benefit Plan reported participants rose from 14,171 in the plan year 2022 filing to 15,110 in the plan year 2023 filing.
  • Penske Cash Balance Benefit Plan end-of-year assets rose from $618M in the plan year 2022 filing to $656M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 232518618 · Penske Truck Leasing Co., L.P. PY 2023 · Defined Benefit (Pension)

Penske Cash Balance Benefit Plan · $656M · 15,110 · 98th

  • VS-ST $656M
  • BOY 15,110
  • SCH 98th
  • EBSA Defined Benefit (Pension)
  • PART near Totalenergies Finance USA, Inc. Pension Plan
  • TYPE ind #4714

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 Real Estate retirement plans → · Plans in Pennsylvania →

Penske Cash Balance Benefit Plan in the asset neighbourhood

Northern California Electrical Workers Pension PlanNorthern California Electric…$657MTotalenergies Finance USA, Inc. Pension PlanTotalenergies Finance USA, I…$656MPenske Cash Balance Benefit PlanPenske Cash Balance Benefit …$656MKirkland & Ellis LLP 2011 Retirement PlanKirkland & Ellis LLP 2011 Re…$655MLegacy Allergan, Inc. Pension PlanLegacy Allergan, Inc. Pensio…$653M
End-of-year total assets ($M) among Penske Cash Balance Benefit Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Pennsylvania filing particulars

Total Assets (Beginning of Year)$618M
Net Assets (End of Year)$655M
Net Income$38M
Employer EIN232518618
Plan Effective Date1969-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Penske Truck Leasing Co., L.P.)

Sponsor-wide plan assets over time

All Penske Truck Leasing Co., L.P. plans reported in each filing year

Latest sponsor-wide plan assets
$2.5B 27.55041659876019% vs 2022
2024 filing year
$1.8B$2B$2.2B$2.4B$2.6B 202220232024 $1.98B $2.52B ▲ +27.3%
Year Plans Participants Total Assets
2022 5 41,117 $2.0B
2023 4 43,770 $2.3B
2024 5 55,942 $2.5B

Nearby Defined Benefit (Pension) Plans in Pennsylvania

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Penske Cash Balance Benefit Plan vs. nearby Defined Benefit (Pension) plans in Pennsylvania, assets vs. participants Scatter plot of 6 data points. 020000400006000080000 051015 Total assets ($B) Participants Penske Cash Balance Benefit Plan, Total assets ($B): 0.655816884 · Participants: 15110Penske Cash Balance Benefit PlanNational Elevator Industry Pension Plan, Total assets ($B): 11.224377797 · Participants: 27434National Elevator Industry Pension PlanSteelworkers Pension Trust, Total assets ($B): 6.602912146 · Participants: 47052Steelworkers Pension TrustThe PNC Financial Services Group, Inc. Pension Plan, Total assets ($B): 5.63715 · Participants: 63680The PNC Financial Services Group, Inc. Pension PlanConstellation Retirement Program, Total assets ($B): 5.323012123 · Participants: 5080Constellation Retirement ProgramThe Bank of New York Mellon Corporation Pension Plan, Total assets ($B): 5.257223708 · Participants: 7374The Bank of New York Mellon Corporation Pension Plan
Penske Cash Balance Benefit Plan vs. nearby Defined Benefit (Pension) plans in Pennsylvania, assets vs. participants
Compare Penske Cash Balance Benefit Plan side-by-side with 3 peers →

Scale composition for Penske Cash Balance Benefit Plan

Penske Cash Balance Benefit Plan reports $656M in end-of-year assets across 15,110 participants (0.005% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.016% of 93,925,755 covered participants) - about $43,403 per participant (31% of the national average assets-per-participant) . Net income for plan year 2023 was $38M.

This plan identity (EIN 232518618, plan #014) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $618M to $668M (+8.2%) while covered participants moved from 14,171 to 20,195 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 14,171 $618M Open filing
2023 15,110 $656M This page
2024 · index core 20,195 $668M Open filing

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

Penske Cash Balance Benefit Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Pennsylvania, the nearest Defined Benefit (Pension) by assets is Totalenergies Finance USA, Inc. Pension Plan in TX ($656M); by covered participants it is National Automatic Sprinkler Industry Pension Fund in MD (15,047 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($656M here).

Similar participant headcount

Nearest other-state filings by covered participants (15,110 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 Penske Cash Balance Benefit Plan assets move in 2023? ▼
Penske Cash Balance Benefit Plan grew at a solid clip - up 6.1% during 2023, from $618M to $656M. Reported net income was $38M.
How have Penske Truck Leasing Co., L.P. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Penske Truck Leasing Co., L.P.'s sponsor-wide assets grew 27.6%, from $2.0B to $2.5B.
Where does Penske Cash Balance Benefit Plan rank by assets among Form 5500 filers? ▼
Penske Cash Balance Benefit Plan ranks in the 98th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Penske Cash Balance Benefit Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Totalenergies Finance USA, Inc. Pension Plan in TX ($656M, 471 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Penske Cash Balance Benefit Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is National Automatic Sprinkler Industry Pension Fund in MD (15,047 participants, $4.5B 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 232518618.

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.