401(k) · DOL Form 5500 · 2023

Philips North America LLC 401(k) Plan

Data updated 2026-08-06

$5.8B
Total assets: 19,120
Participants: 100th
Percentile by assets: $302,264
Avg per participant

Official DOL plan name: Philips North America 401(k) Plan · Sponsored by Philips North America LLC · Massachusetts · Manufacturing

$5.8B in assets, 19,120 participants

Philips North America LLC's Philips North America 401(k) Plan reported $5.8B in total assets and 19,120 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)
#18,577 in Manufacturing (18,672 peers)

Coverage in Massachusetts

Philips North America 401(k) Plan covers 19,120 participants in Massachusetts, 30x the typical Massachusetts plan (state average ~641 per filing). Assets: $5.8B.

$5.8B
total plan assets (2023 EOY): 19,120
covered participants: 100th
percentile by assets (of 126,618 plans): $302,264
avg assets per participant

Philips North America 401(k) Plan reported net income rose from -$1.2B in the plan year 2022 filing to $599M in the plan year 2023 filing.
Philips North America 401(k) Plan end-of-year assets rose from $5.2B in the plan year 2022 filing to $5.8B in the plan year 2023 filing.
Philips North America 401(k) Plan reported participants fell from 19,750 in the plan year 2022 filing to 19,120 in the plan year 2023 filing.

See the national 2023→2024 release diff →

State

Massachusetts

Industry

Manufacturing

Participants vs Massachusetts filers

In Massachusetts, the average filing covers about 641 participants across 3,941 plans. Philips North America 401(k) Plan reports 19,120 participants - 30x that state average ($5.8B EOY assets).

Massachusetts filing particulars

Total Assets (Beginning of Year)	$5.2B
Net Assets (End of Year)	$5.8B
Net Income	$599M
Employer EIN	133429115
Plan Effective Date	1980-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Philips North America LLC)

Total plan assets by year, all Philips North America LLC plans on file

Year	Plans	Participants	Total Assets
2022	2	21,726	$5.7B
2023	2	20,790	$6.3B
2024	2	19,902	$6.8B

Nearby 401(k) Plans in Massachusetts

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

Philips North America 401(k) Plan vs. nearby 401(k) plans in Massachusetts, assets vs. participants

Fidelity Retirement Savings Plan $28.6B · 62,289
Liberty Mutual 401(k) Plan $10.6B · 37,052
Massachusetts Institute of Technology Supplemental 401(k) Plan $6.8B · 14,094
Boston Scientific Corporation 401(k) Retirement Savings Plan $5.8B · 19,881
State Street Salary Savings Program $5.7B · 12,168

Compare Philips North America 401(k) Plan side-by-side with 3 peers →

Scale composition for Philips North America 401(k) Plan

Philips North America 401(k) Plan reports $5.8B in end-of-year assets across 19,120 participants (0.050% of the $11.6T held by all Form 5500 filers in the national rollup , and 0.021% of 89,805,449 covered participants) - about $302,264 per participant (2.2x the national average assets-per-participant) . Net income for plan year 2023 was $599M.

This plan identity (EIN 133429115, plan #005) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $5.2B to $6.4B (+22.9%) while covered participants moved from 19,750 to 18,388 . Single-year sparse filers cannot show that trail.

Plan year	Participants	EOY assets	Filing
2022	19,750	$5.2B	Open filing
2023	19,120	$5.8B	This page
2024 · index core	18,388	$6.4B	Open filing

The same sponsor also keeps 2 other index-core plans on PlainRetire:

Philips North America 401(k) Plan (401(k), $6.4B, 18,388 participants)
Philips North America Pension Plan (Defined Benefit (Pension), $477M, 1,514 participants)

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Philips North America 401(k) Plan by total assets, not by location.

Siemens Medical Solutions USA, Inc. Savings Plan (PA) $5.8B · 13,340
Geico 401(k) Savings Plan (DC) $5.8B · 39,034
Danaher Corporation & Subsidiaries Savings Plan (DC) $5.8B · 29,441
Edison 401(k) Savings Plan (CA) $5.7B · 13,202

Frequently Asked Questions

How did Philips North America 401(k) Plan assets move in 2023? ▼

Philips North America 401(k) Plan grew at a solid clip - up 11.6% during 2023, from $5.2B to $5.8B. Reported net income was $599M.

How have Philips North America LLC plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Philips North America LLC's sponsor-wide assets grew 20.4%, from $5.7B to $6.8B.

Where does Philips North America 401(k) Plan rank by assets among Form 5500 filers? ▼

Philips North America 401(k) Plan ranks in the 100th percentile by end-of-year assets among 126,618 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 Philips North America 401(k) Plan? ▼

Among 401(k) plans in other states, the closest by assets is Siemens Medical Solutions USA, Inc. Savings Plan in PA ($5.8B, 13,340 participants).

Next read for Philips North America 401(k) Plan

Filing takeaways

Ways to act on Philips North America 401(k) Plan's numbers.

By total assets, Philips North America 401(k) 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 Massachusetts. Compare plans
Philips North America LLC's sponsor-wide assets have grown 20.4% since 2022 across 3 plan years on file. More Manufacturing plans

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 133429115.