Largest employer retirement plans by participants

What this page shows

These are the 50 U.S. employer benefit plans covering the most participants in the loaded public Form 5500 dataset (latest loaded filing year 2023). Ranking by participants highlights the plans that touch the most employees — the largest 401(k) and pension plans by people covered — rather than the largest asset pools. Bars show each plan's reported participant count relative to the largest.

Plans ranked50
Combined participants (top 50)29,863,631
Largest single plan2,614,052National Education Association Of The United States
Top 50 · by participants

Ranked by participants covered

Reported participant counts from public Form 5500 filings. Bars show relative scale.

  1. 1
    Nea Members Insurance Plan2,614,052 participants
    National Education Association Of The United States, DC
  2. 2
    Walmart 401(K) Plan1,881,721 participants
    Walmart Inc., AR
  3. 3
    Trustees Of International Brotherhood Teamsters Voluntary Employee Ben, DC
  4. 4
    Walmart Inc., AR
  5. 5
    Group Health & Welfare Plan1,295,394 participants
    Amazon.Com Services, LLC, WA
  6. 6
    American Federation Of Teachers Benefit Trust, DC
  7. 7
    A Single-Employer Plan1,214,063 participants
    Amazon.Com Services,LLC, WA
  8. 8
    Target Corporation, MN
  9. 9
    Government Employees Health Association, Inc., MO
  10. 10
    Wal-Mart Associates, Inc., AR
  11. 11
    Trustees Of The National Electrical Benefit Fund, MD
  12. 12
    Western Conference Of Teamsters Pension Trust Fund Board Of Trustees, WA
  13. 13
    Fedex Corporation, TN
  14. 14
    International Brotherhood Of Electrical Workers' Pension Benefit Fund, DC
  15. 15
    Express Services, Inc., OK
  16. 16
    Board Of Trustees Of The Teamsters - Ups 401k National Savings Plan, GA
  17. 17
    Adp Totalsource, Inc., FL
  18. 18
    General Motors LLC & Others, MI
  19. 19
    Sagewell Healthcare Benefits Trust, PA
  20. 20
    Paychex Retirement LLC, NY
  21. 21
    Target Corporation 401(K) Plan496,792 participants
    Target Corporation, MN
  22. 22
    The Home Depot Futurebuilder460,862 participants
    The Home Depot, Inc., GA
  23. 23
    Home Depot Usa, Inc., GA
  24. 24
    Fedex Corporation, TN
  25. 25
    Ufcw Consolidated Pension Fund368,281 participants
    Bd Of Trustees Ufcw Consolidated Pension Fund, GA
  26. 26
    At&T Pension Benefit Plan367,883 participants
    At&T Inc., TX
  27. 27
    United Parcel Service Of America, Inc., GA
  28. 28
    Hca 401(K) Plan361,146 participants
    Hca Inc., TN
  29. 29
    Trustees Of Central States, Se And Sw Areas Pension Fund, IL
  30. 30
    Adp Totalsource Group, Inc., FL
  31. 31
    General Motors LLC, MI
  32. 32
    Lowes 401(K) Plan332,243 participants
    Lowes Companies Inc, NC
  33. 33
    Cvs Health Corporation, RI
  34. 34
    Starbucks Corporation, WA
  35. 35
    Board Of Trustees Of The Uaw-Gm Veba Trust Fund, MI
  36. 36
  37. 37
    Cvs Health Corp, RI
  38. 38
    Insperity Holdings, Inc., TX
  39. 39
    At&T Inc., TX
  40. 40
    Cvs Pharmacy, Inc., RI
  41. 41
    At&T Inc., TX
  42. 42
    Wells Fargo & Company, CA
  43. 43
    Lowes Welfare Plan301,592 participants
    Lowes Companies Inc, NC
  44. 44
    Iam National Pension Fund297,410 participants
    Board Of Trustees Of The I.A.M. National Pension Fund, DC
  45. 45
    Jpmorgan Chase Bank, National Association, NJ
  46. 46
    Jpmorgan Chase Bank, National Association, NJ
  47. 47
    Board Of Trustees Of 1199seiu Health Care Employees Pension Fund, NY
  48. 48
    Walgreen Co., IL
  49. 49
    Trinet 401k Plan270,372 participants
    Trinet Hr Iii, Inc., FL
  50. 50
    Unitedhealth Group Incorporated, MN

Frequently asked questions

Which employer retirement plans cover the most people?
Ranked by reported participant count in the loaded public Form 5500 dataset, the largest is Nea Members Insurance Plan (National Education Association Of The United States), covering 2,614,052 participants. This page lists the top 50 employer plans by participants.
How is this different from the largest plans by assets?
Ranking by participants surfaces the plans that cover the most employees — typically very large employers’ 401(k) and pension plans. Ranking by assets instead surfaces big asset pools, which are often custodial master trusts rather than single employers. The two lists answer different questions.
What counts as a participant?
Participants are the covered individuals a plan reports on its Form 5500 — generally active, retired, and separated employees (and beneficiaries) with an account or accrued benefit. Figures are as reported.

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