State retirement profile · Form 5500

Retirement Plans in Massachusetts

According to DOL Form 5500 filings (plan year 2024), employer-sponsored 401(k), pension, and other retirement plans headquartered in Massachusetts report the totals below.

Data updated 2026-07-24

3,941
Plans
$377.0B
Total assets
#12
By assets

$377.0B across 3,941 plans

According to DOL Form 5500 filings (plan year 2024), Massachusetts has 3,941 employer-sponsored retirement plans holding $377.0B in total assets for 2,525,983 participants, ranking 12th nationally by plan assets, with 79% structured as 401(k)s and an average of $96M per plan.

  • 12th nationally by plan assets
  • 79% 401(k) plans

The state in one line

Massachusetts hosts 3,941 employer-sponsored retirement plans holding $377.0B for 2,525,983 participants, the 12th-largest state by plan assets.

$377.0B
total plan assets
3,941
employer plans
$149,235
avg assets per participant
79%
of plans are 401(k)s
401(k) Plans
3,105
Participants
2,525,983

What the Form 5500 Data Shows for Massachusetts

Massachusetts: 3,941 employer-sponsored plans (3,105 401(k)), $377.0B aggregate assets, 2,525,983 participants. Average plan: $96M; largest is Fidelity Retirement Savings Plan at $34.2B. Leading sector by assets: Finance & Insurance (25%). These figures aggregate the 3,941 Form 5500 filings Massachusetts sponsors submitted for plan year 2024, counted by sponsor headquarters rather than participant residence; a plan administered in Massachusetts can cover workers across several states, and the methodology page details that HQ-vs-residence distinction. DOL Form 5500 methodology + HQ-vs-residence caveats →

Finance & Insurance leads Massachusetts plan assets (25%)

Among plans headquartered here, Finance & Insurance accounts for $93.4B across 346 filings, ahead of Manufacturing at $61.0B. Sector mix is a Form 5500-derived signal: it reflects where sponsors file from, not where every participant lives.

DOL Form 5500 plan year 2024

Massachusetts hosts 111 ESOP filings

Employee Stock Ownership Plans here hold $3.0B. ESOP density is uneven across states; when the count clears a meaningful floor, the ESOP ranking and industry pages are the better drill-downs than a 401(k)-only read.

DOL Form 5500 plan year 2024

Where Massachusetts sits in the Form 5500 corpus

Massachusetts ranks in the upper half by plan assets (#12 of 56). Its totals are large enough for industry-mix and largest-plan concentration to matter more than the headline alone.

DOL Form 5500 plan year 2024

Industry mix in Massachusetts

Top sectors by Form 5500 plan assets for sponsors headquartered here (plan year 2024).

Industry Plans Assets
Finance & Insurance 346 $93.4B
Manufacturing 543 $61.0B
Professional & Technical Services 927 $52.8B
Educational Services 200 $49.9B
Healthcare & Social Assistance 487 $38.8B

Largest Plans in Massachusetts

# Plan Name Type Participants Total Assets
1 Fidelity Retirement Savings Plan 401(k) 66,907 $34.2B
2 Liberty Mutual 401(k) Plan 401(k) 34,618 $11.4B
3 Massachusetts Institute of Technology Supplemental 401(k) Plan 401(k) 14,762 $7.7B
4 Boston Scientific Corporation 401(k) Retirement Savings Plan 401(k) 20,639 $6.8B
5 State Street Salary Savings Program 401(k) 12,777 $6.5B
6 Philips North America 401(k) Plan 401(k) 18,388 $6.4B
7 Liberty Mutual Retirement Benefit Plan Defined Benefit (Pension) 34,910 $6.3B
8 Takeda Pharmaceutical U.S.a., Inc. Savings and Retirement Plan 401(k) 23,253 $6.2B
9 Massachusetts Institute of Technology Basic Retirement Plan Defined Benefit (Pension) 12,533 $5.9B
10 N. Atlantic States Carp. Pension Fund Defined Benefit (Pension) 16,946 $5.1B
11 Fresenius Medical Care North America 401(k) Savings Plan 401(k) 63,238 $4.4B
12 Analog Devices, Inc. the Investment Partnership Plan 401(k) 6,957 $4.3B
13 Massmutual Thrift Plan 401(k) 13,502 $4.3B
14 Harvard University Tax Deferred Annuity Plan Other 24,395 $4.3B
15 N. Atlantic States Carp. Guaranteed Annuity Fund Defined Benefit (Pension) 10,943 $3.8B
16 The Tjx Companies, Inc. 401(k) Savings Plan 401(k) 285,277 $3.7B
17 Beth Israel Lahey 403(b) Retirement Savings Plan Other 33,591 $3.5B
18 Wellington Retirement and Pension Plan 401(k) 2,265 $3.2B
19 Boston University Retirement Plan Other 8,173 $3.0B
20 The Boston Consulting Group, Inc. Employees' Savings Plan and Profit Sharing Retirement Fund 401(k) 10,210 $2.9B
21 Northeastern University Retirement Plan Other 8,900 $2.6B
22 Massachusetts Laborers' Pension Fund Defined Benefit (Pension) 10,203 $2.5B
23 Massmutual Pension Plan Defined Benefit (Pension) 13,404 $2.5B
24 Bain and Company, Inc. 401(k) Savings Plan 401(k) 6,441 $2.4B
25 The Investment-Incentive Plan for John Hancock Employees 401(k) 5,046 $2.4B

Nearby States by Retirement Plan Footprint

States ranked adjacent to Massachusetts by total retirement plan assets.

Compare Massachusetts side-by-side with 3 peer states →

Frequently Asked Questions

What is the largest retirement plan headquartered in Massachusetts? ▼
The largest Form 5500 filing by assets with a headquarters address in Massachusetts is Fidelity Retirement Savings Plan ($34.2B, 66,907 participants).
Which industry leads Massachusetts retirement plan assets? ▼
Finance & Insurance leads with $93.4B across 346 plans headquartered here (25% of state plan assets).
How does Massachusetts compare to other states for retirement plans? ▼
Massachusetts ranks in the upper half by plan assets (#12 of 56). Its totals are large enough for industry-mix and largest-plan concentration to matter more than the headline alone.

Next read for Massachusetts

Industry-mix reading

Ways to act on Massachusetts's numbers.

Source: U.S. Department of Labor, EBSA Form 5500 public disclosure dataset. Shows the top 25 plans by total assets headquartered in Massachusetts, out of 122,942 ERISA-covered plans nationally. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - state is the plan sponsor's headquarters state as recorded on the Form 5500 filing.

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.