Defined Benefit (Pension) · DOL Form 5500 · 2023

North Carolina Mutual Insurance Company Pension Plan

Data updated 2026-08-11

$224M
Total assets
1,225
Participants
95th
Percentile by assets
$183,015
Avg per participant
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Official DOL plan name: Nc Farm Bureau Mutual Insurance Company Retirement Plan · Sponsored by North Carolina Mutual Insurance Company · North Carolina · Finance & Insurance

$224M in assets, 1,225 participants

North Carolina Mutual Insurance Company's Nc Farm Bureau Mutual Insurance Company Retirement Plan reported $224M in total assets and 1,225 participants in its 2023 DOL Form 5500 filing, ranking in the 95th 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.

  • 95th percentile by assets (of 127,072 plans)
  • #8,177 in Finance & Insurance (8,869 peers)

Where Nc Farm Bureau Mutual Insurance Company Retirement Plan sits by assets

Nc Farm Bureau Mutual Insurance Company Retirement Plan sits in the top 5% of all filed plans by assets, $224M for 1,225 participants (~$183,015/participant), up 6.3% in 2023.

$224M
total plan assets (2023 EOY)
1,225
covered participants
95th
percentile by assets (of 127,072 plans)
$183,015
avg assets per participant

Where Nc Farm Bureau Mutual Insurance Company Retirement Plan sits by total assets

Nc Farm Bureau Mutual Insurance Company Retirement Plan vs every filed plan by assets

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

$224,193,032 Top 5% higher than 95% of 127,068 filed plans

This plan $0 $2,010,000,000 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

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Nc Farm Bureau Mutual Insurance Company Retirement Plan reported net income fell from $17M in the plan year 2022 filing to $13M in the plan year 2023 filing.
  • Nc Farm Bureau Mutual Insurance Company Retirement Plan end-of-year assets rose from $211M in the plan year 2022 filing to $224M in the plan year 2023 filing.
  • Nc Farm Bureau Mutual Insurance Company Retirement Plan reported participants rose from 1,168 in the plan year 2022 filing to 1,225 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
North Carolina
Industry
Finance & Insurance

Nc Farm Bureau Mutual Insurance Company Retirement Plan vs the 2023 asset distribution

By assets, Nc Farm Bureau Mutual Insurance Company Retirement Plan outranks 95% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 2.2x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$211M
Net Assets (End of Year)$224M
Net Income$13M
Employer EIN560586973
Plan Effective Date1957-07-01
Filing StatusFILING RECEIVED

Sponsor Plan History (North Carolina Mutual Insurance Company)

$240M$260M$280M$300M 202220232024 $251M $289M ▲ +15.1%
Total plan assets by year, all North Carolina Mutual Insurance Company plans on file
Year Plans Participants Total Assets
2022 2 2,437 $251M
2023 2 2,514 $271M
2024 2 2,735 $289M

Nearby Defined Benefit (Pension) Plans in North Carolina

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

Nc Farm Bureau Mutual Insurance Company Retirement Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -1000001000020000300004000050000 -505101520 Total assets ($B) Participants Nc Farm Bureau Mutua…, Total assets ($B): 0.224193032 · Participants: 1225Nc Farm Bureau Mutua…Honeywell Retirement…, Total assets ($B): 16.613752395 · Participants: 11145Honeywell Retirement…Truist Financial Cor…, Total assets ($B): 14.582387965 · Participants: 45818Truist Financial Cor…Duke Energy Retireme…, Total assets ($B): 4.0264 · Participants: 14485Duke Energy Retireme…Duke Energy Legacy P…, Total assets ($B): 3.3721 · Participants: 371Duke Energy Legacy P…Employees' Retiremen…, Total assets ($B): 2.616859519 · Participants: 21020Employees' Retiremen…
Nc Farm Bureau Mutual Insurance Company Retirement Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants
Compare Nc Farm Bureau Mutual Insurance Company … side-by-side with 3 peers →

Similar-Sized Defined Benefit (Pension) Plans Nationally

Defined Benefit (Pension) plans in other states closest to Nc Farm Bureau Mutual Insurance Company Retirement Plan by total assets, not by location.

Frequently Asked Questions

How did Nc Farm Bureau Mutual Insurance Company Retirement Plan assets move in 2023? ▼
Nc Farm Bureau Mutual Insurance Company Retirement Plan grew at a solid clip - up 6.3% during 2023, from $211M to $224M. Reported net income was $13M.
How have North Carolina Mutual Insurance Company plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), North Carolina Mutual Insurance Company's sponsor-wide assets grew 15.1%, from $251M to $289M.
Where does Nc Farm Bureau Mutual Insurance Company Retirement Plan rank by assets among Form 5500 filers? ▼
Nc Farm Bureau Mutual Insurance Company Retirement Plan ranks in the 95th 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 Nc Farm Bureau Mutual Insurance Company Retirement Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Paul Weiss Rifkind Wharton & Garrison LLP Employees' Pension & Retirement Plan in NY ($224M, 178 participants).

Next read for Nc Farm Bureau Mutual Insurance Company …

Scale reading

Ways to act on Nc Farm Bureau Mutual Insurance Company Retirement Plan's numbers.

  • By total assets, Nc Farm Bureau Mutual Insurance Company Retirement Plan ranks in the top 5% of all filed plans by assets. See the largest plans
  • Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in North Carolina. Compare plans
  • North Carolina Mutual Insurance Company's sponsor-wide assets have grown 15.1% since 2022 across 3 plan years on file. More Finance & Insurance 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 560586973.

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.