National Rural Electric Cooperative Association
ARLINGTON, VA · Utilities · sponsor EIN 53-0116145 · 1 plan with Schedule H financials, latest plan year 2024
Plan terms
Plan terms are not published in public filings.
401(K) PENSION PLAN
Plan year 2024-01-01 to 2024-12-31 · $16,840,459,887 in assets · 79,674 participants with a balance · >$1B bucket, multiple-employer · plan number 444
At a glance
Recordkeeping fees per participant
not reported
Administrative expenses excluding investment management, per participant (headline)
$418.72
higher than 100% of the 1,045 plans of similar size (>$1B) that report it
= admin_excl_invmgmt / participants_with_balance. derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014161215NAL0003254097001, received 2025-10-14 · participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014161215NAL0003254097001, received 2025-10-14
Administrative expenses per participant
$594.08
higher than 99% of the 1,076 plans of similar size (>$1B) that report it
= admin_expenses / participants_with_balance. Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014161215NAL0003254097001, received 2025-10-14 · participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014161215NAL0003254097001, received 2025-10-14
Administrative expenses as a share of assets
0.281%
higher than 99% of the 1,076 plans of similar size (>$1B) that report it
= admin_expenses / assets_eoy. Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014161215NAL0003254097001, received 2025-10-14 · assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014161215NAL0003254097001, received 2025-10-14
Employer contributions per participant
$3,439
higher than 45% of the 1,135 plans of similar size (>$1B) that report it
= employer_contrib / participants_with_balance. Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014161215NAL0003254097001, received 2025-10-14 · participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014161215NAL0003254097001, received 2025-10-14
Employer share of total contributions
31.8%
higher than 45% of the 1,135 plans of similar size (>$1B) that report it
= employer_contrib / total_contrib. Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014161215NAL0003254097001, received 2025-10-14 · total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014161215NAL0003254097001, received 2025-10-14
Percentiles compare this plan with the Schedule H plans of the same asset bucket and plan year, excluding final filings; a percentile is shown only where at least 50 comparable plans report the figure. The match formula is not in the filing; only amounts are shown.
Plan features
2C · 2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2R participant brokerage window · 2T default investment (QDIA) · 3F · 3H controlled-group sponsor · 2X Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251014161215NAL0003254097001, received 2025-10-14
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| NRECA (recordkeeper) | PLAN SPONSOR | 14 Plan administrator; 15 Recordkeeping and information management; 28 Investment management; 29 Legal; 37 Participant loan processing; 38 Participant communication; 50 Direct payment from the plan | $26,188,572 | no |
| T ROWE PRICE ASSOCIATES INC | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 68 Soft dollars commissions | $5,055,832 | yes |
| BLACKROCK INSTITUTIONAL TRUST CO | INVESTMENT MANAGEMENT | 21 Trustee (bank, trust company or similar); 24 Trustee (discretionary); 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 68 Soft dollars commissions | $3,217,495 | no |
| VOYA INSTITUTIONAL PLAN SERVICES | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $1,843,033 | no |
| BLACKROCK FINANCIAL MANAGEMENT INC | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan | $1,597,342 | no |
| JACOBS LEVY EQUITY MANAGEMENT INC | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan | $1,139,434 | no |
| DECISIONPATH CONSULTING | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $908,992 | no |
| LOCKTON COMPANIES | INSURANCE AGENT | 22 Insurance agents and brokers; 50 Direct payment from the plan | $869,500 | no |
| CAPITAL INTERNATIONAL INC | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan | $819,264 | no |
| LSV ASSET MANAGEMENT | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan | $733,243 | no |
| PACIFIC INVESTMENT MANAGEMENT CO | INVESTMENT MANAGEMENT | 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan | $675,498 | yes |
| OPTOMI LLC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $524,002 | no |
| CHESAPEAKE BENEFIT PARTNERS LLC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $489,413 | no |
| ENTERPRISE IRON FIS INC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $432,459 | no |
| PINNACLE DATA SYSTEMS LLC | PARTICIPANT COMMUNICATION | 38 Participant communication; 50 Direct payment from the plan | $405,970 | no |
| CONVERGENZ LLC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $364,944 | no |
| EXPERIS IT SERVICES | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $324,329 | no |
| STATE STREET GLOBAL ADVISORS TRUST | INVESTMENT MANAGEMETN | 18 Custodial (other than securities); 19 Custodial (securities); 28 Investment management; 51 Investment management fees paid directly by plan | $309,476 | yes |
| NEUBERGER BERMAN GROUP LLC | INVESTMENT MANAGEMENT | 28 Investment management; 51 Investment management fees paid directly by plan | $294,021 | yes |
| STATE STREET BANK | TRUSTEE | 19 Custodial (securities); 25 Trustee (directed); 28 Investment management; 50 Direct payment from the plan; 51 Investment management fees paid directly by plan; 99 Other fees; 62 Float revenue; 63 Distribution (12b-1) fees | $290,171 | yes |
| FIS CAPITAL MARKETS US LLC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $281,344 | no |
| SIRIUS COMPUTER SOLUTIONS INC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $179,550 | no |
| RVK INC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $129,998 | no |
| SIGNATURE COMMERCIAL SOLUTIONS LLC | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $128,832 | no |
| BDO USA LLP | CONSULTANT | 16 Consulting (general); 50 Direct payment from the plan | $98,926 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251014161215NAL0003254097001, received 2025-10-14.
Full record
| Field | Value | Source |
|---|---|---|
| Plan sponsor | NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Plan name | 401(K) PENSION PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Sponsor EIN / plan number | 53-0116145 / 444 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Plan type | multiple-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Sponsor location | ARLINGTON, VA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Industry (business code) | 221100, Utilities | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Filing received | 2025-10-14 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Participants, beginning of year | 80,880 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Active participants | 61,593 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Participants, end of year | 80,475 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Participants with an account balance | 79,674 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total assets, beginning of year | $14,978,676,240 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total assets, end of year | $16,840,459,887 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Net assets, end of year | $16,717,296,057 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total income | $2,963,783,755 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Net income | $1,863,356,141 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Employer contributions | $274,033,905 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Participant contributions | $482,064,975 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Other contributions (incl. rollovers) | $106,555,614 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total contributions | $862,654,494 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Benefit payments | $1,053,094,927 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total expenses (incl. benefit payments) | $1,100,427,614 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Total administrative expenses | $47,332,687 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Contract administrator fees | $26,188,572 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| IQPA audit fees | $75,640 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Investment advisory and management fees | $13,971,604 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Administrative expenses excluding investment management | $33,361,083 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Held in common/collective trusts | $10,491,248,803 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Held in mutual funds | $211,548,867 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251014161215NAL0003254097001, received 2025-10-14 |
| Independent auditor | CLIFTONLARSONALLEN LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251014161215NAL0003254097001, received 2025-10-14 |
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $14,978,676,240 | $16,840,459,887 | 12.4% |
| Participants with a balance | 77,706 | 79,674 | 2.5% |
| Administrative expenses | $43,513,362 | $47,332,687 | 8.8% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $249,882,900 | $274,033,905 | 9.7% |
Prior filing 20241015145712NAL0030059745001, received 2024-10-15; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION; SEC registrant: NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (CIK 833018, matched by EIN).