Top 10 large company 401(k) plans
September 18, 2016 9:15 PM
Overview
When it comes to assets in company retirement plans based on company plan size, some familiar names lead the list. New data from business intelligence data analytics firm miEdge found that the top 401(k) plans by asset size for companies with more than 1,000 actively enrolled employees hail from IBM Corp., Boeing and Wells Fargo.
The miEdge data comes from Form 5500 filings with the U.S. Department of Labor as of July 30. Government entities such as cities, towns and fire and police departments are not required to file and therefore are not reflected in this data. The same applies to church plans, as defined by ERISA.
Additionally, participation percentages for each company include retired or former employees who have left employment with the company, but still have their plans/balances in, accounting for participation rates of more than 100%.
The miEdge data comes from Form 5500 filings with the U.S. Department of Labor as of July 30. Government entities such as cities, towns and fire and police departments are not required to file and therefore are not reflected in this data. The same applies to church plans, as defined by ERISA.
Additionally, participation percentages for each company include retired or former employees who have left employment with the company, but still have their plans/balances in, accounting for participation rates of more than 100%.
10) Bank of America
End-year net assets: $20,092,246,525
Number of enrolled employees: 231,212
Percent of participation: 153.49%
Number of enrolled employees: 231,212
Percent of participation: 153.49%
Scott Eells/Bloomberg
9) JPMorgan Chase Bank, national association
End-year net assets: $21,171,219,234
Number of enrolled employees: 274,838
Percent of participation: 156.37%
Number of enrolled employees: 274,838
Percent of participation: 156.37%
Luke Sharett/Bloomberg
8) Exxon Mobil Corp.
End-year net assets: $22,297,000,000
Number of enrolled employees: 43,928
Percent of participation: 141.86%
Number of enrolled employees: 43,928
Percent of participation: 141.86%
7) Wal-Mart Stores Inc.
End-year net assets: $22,404,339,000
Number of enrolled employees: 937,522
Percent of participation: 68.45%
Number of enrolled employees: 937,522
Percent of participation: 68.45%
6) General Electric Co.
End-year net assets: $27,040,856,787
Number of enrolled employees: 237,279
Percent of participation: 181.71%
Number of enrolled employees: 237,279
Percent of participation: 181.71%
Edward Linsmier/Bloomberg
5) Lockheed Martin Co.
End-year net assets: $29,435,483,950
Number of enrolled employees: 120,220
Percent of participation: 147.52%
Number of enrolled employees: 120,220
Percent of participation: 147.52%
Daniel Acker/Bloomberg News
4) AT&T Inc.
End-year net assets: $30,083,208,000
Number of enrolled employees: 212,798
Percent of participation: 135.3%
Number of enrolled employees: 212,798
Percent of participation: 135.3%
Peter Foley/Bloomberg
3) Wells Fargo & Co.
End-year net assets: $35,234,958,706
Number of enrolled employees: 328,418
Percent of participation: 124.68%
Number of enrolled employees: 328,418
Percent of participation: 124.68%
Patrick T. Fallon/Bloomberg
2) The Boeing Co. and consolidated subsidiaries
End-year net assets: $47,130,387,730
Number of enrolled employees: 211,193
Percent of participation: 146.98%
Number of enrolled employees: 211,193
Percent of participation: 146.98%
Michael Nagle/Bloomberg
1) IBM Corp.
End-year net assets: $48,017,135,709
Number of enrolled employees: 191,921
Percent of participation: 208.95%
Number of enrolled employees: 191,921
Percent of participation: 208.95%
