Defined Benefit (Pension) · DOL Form 5500 · 2024

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

Data updated 2026-08-25

$668M
Total assets Above avg plan size
20,195
Participants Very large workforce
98th
Percentile by assets National rank
$33,100
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

$668M in assets, 20,195 participants

Penske Truck Leasing Co., L.P.'s Penske Cash Balance Benefit Plan reported $668M in total assets and 20,195 participants in its 2024 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.

  • #4,588 in Real Estate (4,605 peers)

Coverage in Pennsylvania

Penske Cash Balance Benefit Plan covers 20,195 participants in Pennsylvania, 25x the typical Pennsylvania plan (state average ~822 per filing). Assets: $668M.

#4,588
in Real Estate (4,605 peers)
+1.9%
assets growth YoY
6.7×
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 2024 · DOL Form 5500

$668,455,521 Top 2% higher than 98% of 123,620 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 2024

Penske Cash Balance Benefit Plan's mega-plan peer group by participant headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Penske Cash Balance Benefit Plan is a mega filing (20,195 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Penske Cash Balance Benefit Plan reported net income fell from $38M in the plan year 2023 filing to $12M in the plan year 2024 filing.
  • Penske Cash Balance Benefit Plan reported participants rose from 15,110 in the plan year 2023 filing to 20,195 in the plan year 2024 filing.
  • Penske Cash Balance Benefit Plan end-of-year assets rose from $656M in the plan year 2023 filing to $668M in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 232518618 · Penske Truck Leasing Co., L.P. PY 2024 · Defined Benefit (Pension)

Penske Cash Balance Benefit Plan · $668M · 20,195 · 98th

  • TYPE $668M
  • NET 20,195
  • BOOK 98th
  • VS-ST Defined Benefit (Pension)
  • BOY near Sanofi US Group Pension Plan
  • SCH ind #4588

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

Howard University Employees' Retirement PlanHoward University Employees'…$670MScana Corporation Retirement PlanScana Corporation Retirement…$670MPenske Cash Balance Benefit PlanPenske Cash Balance Benefit …$668MSanofi US Group Pension Plan$668MAdm Retirement Plan$667M
End-of-year total assets ($M) among Penske Cash Balance Benefit Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2024.

Pennsylvania filing particulars

Total Assets (Beginning of Year)$656M
Net Assets (End of Year)$667M
Net Income$12M
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): 0.668455521 · Participants: 20195Penske Cash Balance Benefit PlanNational Elevator Industry Pension Plan, Total assets ($B): 12.213235301 · Participants: 28308National Elevator Industry Pension PlanSteelworkers Pension Trust, Total assets ($B): 7.234971663 · Participants: 46110Steelworkers Pension TrustThe PNC Financial Services Group, Inc. Pension Plan, Total assets ($B): 5.528998 · Participants: 58779The PNC Financial Services Group, Inc. Pension PlanThe Bank of New York Mellon Corporation Pension Plan, Total assets ($B): 5.178651926 · Participants: 6387The Bank of New York Mellon Corporation Pension PlanConstellation Retirement Program, Total assets ($B): 5.003720253 · Participants: 4809Constellation Retirement Program
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 $668M in end-of-year assets across 20,195 participants (0.005% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.022% of 93,925,755 covered participants) - about $33,100 per participant (24% of the national average assets-per-participant) . Net income for plan year 2024 was $12M.

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 Open filing
2024 · index core 20,195 $668M This page

The same sponsor also keeps 3 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 Sanofi US Group Pension Plan in NJ ($668M); by covered participants it is Equity-League Pension Trust Fund in NY (20,243 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($668M here).

Similar participant headcount

Nearest other-state filings by covered participants (20,195 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Penske Cash Balance Benefit Plan edged up modestly - up 1.9% during 2024, from $656M to $668M. Reported net income was $12M.
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 123,622 plans that reported assets for plan year 2024 (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 Sanofi US Group Pension Plan in NJ ($668M, 1,139 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 Equity-League Pension Trust Fund in NY (20,243 participants, $2.4B in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.