Defined Benefit (Pension) · DOL Form 5500 · 2024
Philips North America LLC Pension Plan
Data updated 2026-08-06
- $477M
- Total assets
- 1,514
- Participants
- 97th
- Percentile by assets
- $314,780
- Avg per participant
Official DOL plan name: Philips North America Pension Plan · Sponsored by Philips North America LLC · Massachusetts · Manufacturing
$477M in assets, 1,514 participants
Philips North America LLC's Philips North America Pension Plan reported $477M in total assets and 1,514 participants in its 2024 DOL Form 5500 filing, ranking in the 97th 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.
- 97th percentile by assets (of 116,472 plans)
- #16,090 in Manufacturing (16,886 peers)
Coverage in Massachusetts
Philips North America Pension Plan covers 1,514 participants in Massachusetts, 2.4x the typical Massachusetts plan (state average ~641 per filing). Assets: $477M.
- $477M
- total plan assets (2024 EOY)
- 1,514
- covered participants
- 97th
- percentile by assets (of 116,472 plans)
- $314,780
- avg assets per participant
The plan reported a net loss of $13M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Philips North America Pension Plan reported net income rose from -$15M in the plan year 2023 filing to -$13M in the plan year 2024 filing.
- Philips North America Pension Plan reported participants fell from 1,670 in the plan year 2023 filing to 1,514 in the plan year 2024 filing.
- Philips North America Pension Plan end-of-year assets fell from $489M in the plan year 2023 filing to $477M in the plan year 2024 filing.
Participants vs Massachusetts filers
In Massachusetts, the average filing covers about 641 participants across 3,941 plans. Philips North America Pension Plan reports 1,514 participants - 2.4x that state average ($477M EOY assets).
Massachusetts filing particulars
| Total Assets (Beginning of Year) | $489M |
|---|---|
| Net Assets (End of Year) | $476M |
| Net Income | -$13M |
| Employer EIN | 133429115 |
| Plan Effective Date | 2016-08-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Philips North America LLC)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 21,726 | $5.7B |
| 2023 | 2 | 20,790 | $6.3B |
| 2024 | 2 | 19,902 | $6.8B |
Nearby Defined Benefit (Pension) Plans in Massachusetts
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
Philips North America Pension Plan vs. nearby Defined Benefit (Pension) plans in Massachusetts, assets vs. participants
- Liberty Mutual Retirement Benefit Plan $6.3B · 34,910
- Massachusetts Institute of Technology Basic Retirement Plan $5.9B · 12,533
- N. Atlantic States Carp. Pension Fund $5.1B · 16,946
- N. Atlantic States Carp. Guaranteed Annuity Fund $3.8B · 10,943
- Massachusetts Laborers' Pension Fund $2.5B · 10,203
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Philips North America Pension Plan by total assets, not by location.
- W.R. Grace & Co. Retirement Plan for Salaried Employees (MD) $477M · 541
- Brown-Forman Corporation Salaried Employees Retirement Plan (KY) $478M · 1,237
- Pvh Consolidated Pension Plan (NJ) $475M · 3,878
- Iue-Cwa Pension Plan (NY) $475M · 532
Frequently Asked Questions
How did Philips North America Pension Plan assets move in 2024? ▼
How have Philips North America LLC plan assets changed over time? ▼
Where does Philips North America Pension Plan rank by assets among Form 5500 filers? ▼
Which Defined Benefit (Pension) plans are similar in size to Philips North America Pension Plan? ▼
Next read for Philips North America Pension Plan
Filing takeaways
Ways to act on Philips North America Pension Plan's numbers.
- By total assets, Philips North America Pension 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 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