Retirement Plan Rankings

Plans ranked by assets, participants, income, and plan type. All data from DOL Form 5500 filings. For the national year-over-year release diff (matched-plan asset and participant movement), see What changed.

Headcount ≠ balance

Participant count and assets per worker rank different plans

Walmart 401(k) Plan enrolls the most participants (1,635,899), but The Boeing Company 401(k) Retirement Plan reports the highest assets per participant (about $530,227) — headcount and average balance are different leaderboards.

Mega-plan headcount vs assets per participant

Each dot is a plan with ≥25,000 participants; green = participant leader, gold = balance-per-participant leader (40 eligible).

Fewer workers · Higher balanceMany workers · Higher balanceFewer workers · Lower balanceMany workers · Lower balance0.325.250.175.11000255075100Participant count, percentile among large filersAssets per participant, percentileWalmart 401(k), Participant count, percentile among large filers: 100 · Assets per participant, percentile: 44Point, Participant count, percentile among large filers: 97 · Assets per participant, percentile: 31Point, Participant count, percentile among large filers: 95 · Assets per participant, percentile: 10Point, Participant count, percentile among large filers: 92 · Assets per participant, percentile: 0Point, Participant count, percentile among large filers: 90 · Assets per participant, percentile: 59Point, Participant count, percentile among large filers: 87 · Assets per participant, percentile: 15Point, Participant count, percentile among large filers: 85 · Assets per participant, percentile: 46Point, Participant count, percentile among large filers: 82 · Assets per participant, percentile: 49Point, Participant count, percentile among large filers: 79 · Assets per participant, percentile: 67Point, Participant count, percentile among large filers: 77 · Assets per participant, percentile: 36Point, Participant count, percentile among large filers: 74 · Assets per participant, percentile: 72Point, Participant count, percentile among large filers: 72 · Assets per participant, percentile: 26Point, Participant count, percentile among large filers: 69 · Assets per participant, percentile: 41Point, Participant count, percentile among large filers: 67 · Assets per participant, percentile: 8Point, Participant count, percentile among large filers: 64 · Assets per participant, percentile: 23Point, Participant count, percentile among large filers: 62 · Assets per participant, percentile: 79The Boeing, Participant count, percentile among large filers: 5 · Assets per participant, percentile: 100
Percentile ranks computed across Form 5500 filers with at least 25,000 participants in plan year 2024.
Read the chart (all plotted plans)
Plan Headcount pct Balance pct Participants Total assets Assets / participant
Walmart 401(k) Plan · participant leader 100 44 1,635,899 $50.8B $31,047
Amazon 401(k) Plan 97 31 1,209,303 $34.6B $28,606
Paychex Pooled Employer 401(k) Plan 95 10 610,098 $1.8B $2,899
Express Employment Professionals 401(k) Retirement Savings Plan 92 0 464,310 $2M $5
The Teamster - UPS National 401(k) Tax Deferred Savings Plan 90 59 452,126 $19.3B $42,708
Int'l Brotherhood of Electrical Workers' Pension Benefit Fund 87 15 450,729 $2.8B $6,119
Target Corporation 401(k) Plan 85 46 409,649 $14.4B $35,200
The Home Depot Futurebuilder 82 49 398,464 $14.1B $35,511
National Electrical Benefit Fund 79 67 332,362 $20.4B $61,307
Adp Totalsource Retirement Savings Plan 77 36 310,261 $9.2B $29,620
Hca 401(k) Plan 74 72 307,086 $23.8B $77,572
The Tjx Companies, Inc. 401(k) Savings Plan 72 26 285,277 $3.7B $12,851
Lowes 401(k) Plan 69 41 280,261 $8.6B $30,632
Allied Universal 401(k) Plan 67 8 253,169 $681M $2,692
Compass Group Retirement Plan 64 23 244,875 $2.5B $10,120
CVS Health Future Fund 401(k) Plan 62 79 240,493 $30.1B $125,109
The Boeing Company 401(k) Retirement Plan · balance leader 5 100 139,394 $73.9B $530,227

Source: U.S. Department of Labor Form 5500 annual return filings, plan year 2024. Assets per participant divides end-of-year plan assets by reported participants; it is not an individual account balance and does not predict retirement outcomes.

Largest Plans by Assets

Retirement plans with the most total assets under management.

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  1. 1 The Boeing Company 401(k) Retirement Plan $73.9B
  2. 2 Microsoft Corporation Savings Plus 401(k) Plan $65.6B
  3. 3 The Bank of America 401(k) Plan $62.9B
  4. 4 IBM 401(k) Plan $60.4B
  5. 5 Rtx Savings Plan $58.6B

Most Participants

Plans with the highest number of active participants.

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  1. 1 Walmart 401(k) Plan 1,635,899
  2. 2 Amazon 401(k) Plan 1,209,303
  3. 3 Paychex Pooled Employer 401(k) Plan 610,098
  4. 4 Express Employment Professionals 401(k) Retirement Savings Plan 464,310
  5. 5 The Teamster - UPS National 401(k) Tax Deferred Savings Plan 452,126

Highest Net Income

Plans that generated the most net income in the latest filing year.

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  1. 1 Microsoft Corporation Savings Plus 401(k) Plan $12.2B
  2. 2 Google LLC 401(k) Savings Plan $9.7B
  3. 3 Walmart 401(k) Plan $9.2B
  4. 4 Amazon 401(k) Plan $8.4B
  5. 5 JPMorgan Chase 401(k) Savings Plan $8.3B

Largest Pension Funds in the US

Private-sector defined benefit pension funds ranked by total assets.

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  1. 1 Western Conference of Teamsters Pension Plan $56.4B
  2. 2 Central States, Southeast & Southwest Areas Pension Plan $48.2B
  3. 3 General Motors Hourly-Rate Employees Pension Plan $42.5B
  4. 4 Rtx Consolidated Pension Plan $41.6B
  5. 5 State Farm Insurance Companies Retirement Plan for United States Employees $37.7B

Largest 401(k) Plans

The biggest 401(k) plans in America by total assets.

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  1. 1 The Boeing Company 401(k) Retirement Plan $73.9B
  2. 2 Microsoft Corporation Savings Plus 401(k) Plan $65.6B
  3. 3 The Bank of America 401(k) Plan $62.9B
  4. 4 IBM 401(k) Plan $60.4B
  5. 5 Rtx Savings Plan $58.6B

Biggest 401(k) Providers

Recordkeepers ranked by Form 5500 Schedule C plans served.

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  1. 1 Fidelity Investments 11,624
  2. 2 Empower 9,428
  3. 3 Principal 6,324
  4. 4 ADP 4,211
  5. 5 John Hancock 3,036

Top States by Retirement Assets

States ranked by total retirement plan assets.

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  1. 1 California $1.3T
  2. 2 New York $1.1T
  3. 3 Texas $995.0B
  4. 4 Illinois $784.9B
  5. 5 New Jersey $676.8B

Largest ESOPs by Participants

Standalone employee stock ownership plans ranked by reported participants.

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  1. 1 Publix Super Markets, Inc. Employee Stock Ownership Plan & Trust $149K
  2. 2 Wawa, Inc. Employee Stock Ownership Plan $38K
  3. 3 Procter & Gamble Profit Sharing Trust & Employee Stock Ownership Plan $34K
  4. 4 U-Haul Holding Company Employee Stock Ownership Plan $21K
  5. 5 Winco Employee Stock Ownership Plan $17K

Biggest Asset Growth

Plans with the largest year-over-year dollar increase in total assets.

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  1. 1 Microsoft Corporation Savings Plus 401(k) Plan $12.4B
  2. 2 Google LLC 401(k) Savings Plan $9.7B
  3. 3 Walmart 401(k) Plan $9.3B
  4. 4 JPMorgan Chase 401(k) Savings Plan $8.4B
  5. 5 The Bank of America 401(k) Plan $8.1B

Biggest Asset Declines

Plans with the largest year-over-year dollar decrease in total assets.

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  1. 1 IBM Personal Pension Plan $7.0B
  2. 2 Shell Pension Plan $5.4B
  3. 3 3M Employee Retirement Income Plan $5.4B
  4. 4 Verizon Pension Plan for Associates $5.2B
  5. 5 GE Aerospace Retirement Savings Plan $4.7B

Biggest Participant Gains

Plans with the largest year-over-year increase in reported participants.

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  1. 1 The Tjx Companies, Inc. 401(k) Savings Plan 176,368
  2. 2 Paychex Pooled Employer 401(k) Plan 125,095
  3. 3 Trinet 401(k) Plan 62,638
  4. 4 Justworks Retirement Savings Plan 56,060
  5. 5 Kaiser Permanente Tax Sheltered Annuity Plan 49,120

Biggest Participant Declines

Plans with the largest year-over-year decrease in reported participants.

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  1. 1 Express Employment Professionals 401(k) Retirement Savings Plan 84,542
  2. 2 The Teamster - UPS National 401(k) Tax Deferred Savings Plan 58,385
  3. 3 Manpowergroup 401(k) Savings Plan 45,260
  4. 4 Cognizant Technology Solutions 401(k) Savings Plan 38,883
  5. 5 Real Estate Commission Retirement Savings Plan 30,620

How Plan Rankings Are Constructed

Ranking retirement plans is more subtle than ranking, say, restaurants or stocks. A "largest" plan is unambiguous when measured by participant count or asset total, both are reported in Form 5500 and audited by an independent accountant once a plan crosses the 100-participant threshold. But a "best" plan is contextual: the right benchmark for a multi-employer pension fund is different from the right benchmark for a single-employer 401(k), and both are different from the benchmark for an ESOP. PlainRetire's ranking pages stick to clearly defined, source-derived metrics, participant counts, plan assets, net contribution, employer contribution as a share of pay, and year-over-year asset or participant changes. Each metric has its own page so readers can decide which framing is relevant for their question.

Each ranking includes the underlying source (Form 5500 schedule and line item), the plan-year vintage, and a footnote when an aggregate excludes plans with incomplete or amended filings. Where a plan has filed multiple amendments, a sometimes-routine but sometimes-meaningful signal, the ranking uses the most recent accepted filing and notes the amendment count on the plan detail page. This approach lets readers see who is at the top of a particular ladder without conflating different scales of "size" or "growth."

Methodology and Limitations

Rankings are computed against the most recent annual dataset released by the Department of Labor. New plans, terminations, and significant amendments will not appear until the next annual release, which has roughly a seven-month publication lag from plan year end. Plans that file Form 5500-EZ (single-participant plans) are not included in the public datasets and therefore do not appear in PlainRetire rankings. International plans, government plans, and church plans (which are exempt from Title I of ERISA) are similarly outside the dataset and outside these rankings. When evaluating a ranking, consider the universe being compared: a national ranking of 401(k) sponsors will be dominated by Fortune 500 employers, while a state-level ranking will surface regionally significant plans that don't appear in the national list.

Asset and participant counts are reported by the plan sponsor and certified by an auditor for plans above 100 participants. Smaller plans rely on plan-sponsor attestation. Both are subject to standard data-quality caveats: corrections appear as amended filings in subsequent years, and PlainRetire reflects amendments as soon as DOL releases updated datasets.

Rankings derive from the same DOL Form 5500 corpus; download state aggregates: states.csv.