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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%.
10) Bank of America
End-year net assets: $20,092,246,525
Number of enrolled employees: 231,212
Percent of participation: 153.49%
The JP Morgan Chase & Co. logo is displayed in front of the company's headquarters in New York, U.S., on Friday, July 6, 2012. Photographer: 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%
Gas prices are displayed as cars drive past an Exxon Mobil Corp. station in Cincinnati, Ohio, U.S. on Monday, Jan. 27, 2014. Exxon Mobil Corp. is scheduled to release their fourth quarter earnings on Thursday, Jan. 30, 2014. Exxon Mobil Corp. is scheduled to release earnings figures on Jan. 30. Photograper: Luke Sharrett/Bloomberg
8) Exxon Mobil Corp.
End-year net assets: $22,297,000,000
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%
6) General Electric Co.
End-year net assets: $27,040,856,787
Number of enrolled employees: 237,279
Percent of participation: 181.71%
The Lockheed Martin Corp. Innovation Demonstration Center stands in Orlando, Florida, U.S., on Thursday, June 4, 2015. The U.S. Defense Department is considering ordering as many as 450 F-35 aircraft from Lockheed Martin Corp., sending warplane output to the fastest in three decades as it gains confidence in the advanced fighter's performance. Photographer: 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%
A pedestrian walks past an AT&T Wireless store in New York on December 14, 2003. SBC Communications Inc. and BellSouth Corp. may create the biggest U.S. mobile-phone company by buying AT&T Wireless Services Inc. and merging it with their Cingular Wireless LLC venture, people familiar with the matter said. Photographer: Daniel Acker/Bloomberg News.
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%
The Wells Fargo Bank logo on 42nd Street in New York, U.S., on Wednesday, Oct.10, 2012. . Photographer: Peter Foley/Bloomberg *** Local Caption ***
3) Wells Fargo & Co.
End-year net assets: $35,234,958,706
Number of enrolled employees: 328,418
Percent of participation: 124.68%
HOLD EMBARGO UNTIL Friday, June 14th 2 a.m. Pacific***
Workers assemble a Boeing 747-800 Intercontinental Jumbo Jet airplane at the Boeing Everett Factory in Everett, Washington, U.S., on Wednesday, May 29, 2013. Photographer: Patrick T. Fallon/Bloomberg
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%
International Business Machines Corporation (IBM) signage is displayed on a monitor on the floor the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 20, 2016. U.S. stocks surged, with the S&P 500 Index jumping the most in four weeks, after the latest polls showed the U.K. campaign to remain in the European Union is gaining ground before Thursday's referendum. Photographer: Michael Nagle/Bloomberg
“I’m on track in saving for retirement because from a young age I learned these things,” says Adviser of the Year winner Julie Yusko. “I hope my experience can help others be in the best position so that we have fewer people who are approaching retirement age and wondering how they're ever going to retire.”