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Retirement plan

USAA PENSION PLAN

UNITED SERVICES AUTOMOBILE ASSOCIATIONEIN 74-0959140Plan #001PY 2023
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9800 FREDERICKSBURG ROAD, D SVC E - SAN ANTONIO, TX 782884002210-498-1450LinkedIn1-10 employeesinsurance
Other plans on this EIN
1 filing
#002Retirement-$9.84B assets
Prospect flagsLow returnsWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
BRETT SEYBOLD
Signed 10/11/2024
(210) 498-1450
Plan administrator signer
ASA WATERMAN
Signed 10/04/2024
Plan administrator entity
USAA BENEFITS ADMINISTRATION COMMITTEE
EIN 740959140
P.O. BOX 34178 · SAN ANTONIO, TX 782654178
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Summary metrics

Total assets (EOY)
$4725.7M
-4.6% from 2016
Total participants
48,325
+1.8% from 2016
Average account balance
$0
No prior year
Annual return
3.68%
-8.91 pp from 2016

Benchmarks

See 30 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort30 peers
Snapshot2023
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$0
median $4,724
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
3.68%
median 9.60%
Overall peer rank
14th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$4.57B
Average account balance
Total assets / participants with a balance (line 6g)
$93K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
18,975
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
Not enough data
0 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
Not enough data
0 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+1.85%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 11 by compensation
ProviderService typeCompensation
FIDELITY MANAGEMENT TRUST COMPANY3 years
Service code 15 · EIN 04-3275867
Recordkeeping
$2,026,417
JPMORGAN CHASE BANK, N.A.5 years
Service code 24 · EIN 13-4994650
Discretionary Trustee
$1,490,233
INSIGHT INVESTMENT3 years
Service code 28 · EIN 82-0983489
Investment Management
$1,287,046
THE NORTHERN TRUST COMPANY9+ years
Service code 19 · EIN 36-1561860
Securities Custodian
$1,090,747
NISA INVESTMENT ADVISORS, LLC1 year
Service code 28 · EIN 48-1140940
Investment Management
$611,409
MACQUARIE INVESTMENT MGMT ADVISERS4 years
Service code 28 · EIN 23-2859590
Investment Management
$400,290
PACIFIC INVESTMENT MANAGEMENT CO.9+ years
Service code 28 · EIN 33-0629048
Investment Management
$336,804
WESTERN ASSET9+ years
Service code 28 · EIN 52-1200960
Investment Management
$177,009
GOLDMAN SACHS ASSET MANAGEMENT8 years
Service code 28 · EIN 13-3575636
Investment Management
$45,928
MELLON CAPITAL MANAGEMENT5 years
Service code 28 · EIN 25-1442864
Investment Management
$36,027

Enrolled actuary

1 attachment
SB

KRISTY THORNTON

MERCER
Enrollment #2305881
4400 COMERICA BANK TOWER
1717 MAIN STREET
DALLAS, TX 75201
(850) 559-6063
Signed 2024-07-01

Top hat statement on fileNQDC

Filed April 23, 2001 (most recent of 5 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes1A1C1E3F3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$12.1M
$402 / participant
  • Investment mgmt$4M36.1%
  • Other trustee fees$1M9.1%
  • Contract admin$2M16.7%
  • Other / not subdivided$5M38.0%
% of EOY assets
0.257%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
ERNST & YOUNG LLP
Auditor EIN
346565596
Audit fees
$6,570
Opinion code
Unqualified