Retirement & Pension Plans in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
NAICS 52511Revenue
$965.3bn
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
17,809
Businesses
52,133
Wages
$X.Xbn
Retirement & Pension Plans in the US industry analysis
The Retirement & Pension Plans industry plays a crucial role in providing financial security and stability to individuals in their retirement years. Shifting demographics, government regulations and advancements in technology is changing the industry. In response to these changes the industry is focusing on offering more flexible and personalized retirement plans to meet the unique needs of different segments of the population.
Trends and Insights
- Defined contribution plans, such as 401(k) plans, became more popular as employers shifted away from offering traditional defined benefit pensions. A defined benefit pension plan is a type of retirement plan where an employer promises a specific monthly payment to employees upon retirement.
- The number of people enrolled in defined benefit plans has been on the decline. Many employers strive to find cheaper alternatives.
- Geographical spread of private retirement plans corresponds to the employment and income distribution, with sponsored plans mirroring employment patterns. Companies offer these programs to employees to attract and retain a strong workforce.
- Market regulation has a substantial impact on the level of concentration. Regulations, such as compliance and licensing requirements, minimum funding levels, and restrictions on product offerings, can influence the number of providers and their competitiveness in a given market.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 3.3 % over the past five years, to reach an estimated $965.3bn in 2024.
Trends and Insights
Defined contribution plans lower costs for employers
- Defined contribution plans, such as 401(k) plans, have become more popular as employers have shifted away from offering traditional defined benefit pensions.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Retirements & pension plans are expected to increase environmental, social, and governance (ESG) investing
- Individuals are increasingly demanding investments that align with their values. A growing trend that is expected to continue during the outlook period is ESG investing.
Biggest companies in the Retirement & Pension Plans in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
California Public Employees' Retirement System | 55,513.3 | 16,930.0 | 30.5 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Private defined benefit plans, State and local government defined benefit plans and Federal defined benefit plans. Private defined benefit plans is the largest segment of the Retirement & Pension Plans in the US.
Trends and Insights
Private defined benefit plans are decreasing in popularity
- Private defined benefit plans are retirement plans sponsored by employers in the private sector, offering a set benefit amount to employees upon retirement based on factors such as their salary and years of service.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Life Insurance & Annuities in the US
Complementors
- Portfolio Management in the US
- Health & Medical Insurance in the US
- Health & Welfare Funds in the US
International industries
- Global Pension Funds
- Superannuation Funds in Australia
- Superannuation Funds in New Zealand
- Pension Funding in the UK
- Pension Funding in Ireland
Table of Contents
About this industry
Industry definition
This industry is composed of private and public pension funds that provide retirement saving and income benefits exclusively for the sponsor’s employees or members. This industry only includes defined benefit plans and excludes defined contribution plans. Revenue in this industry refers to total contributions plus investment gains, while establishments refer to the number of funds. Fees from portfolio management or other third-party services are not included in this report.
What's included in this industry?
Providing defined benefit plans to beneficiariesCollecting employer and employee contributionsInvesting in assets to meet obligationsCompanies
California Public Employees' Retirement SystemPurchase this report to view all 1 major companies in this industry.
Related Terms
DEFINED BENEFIT (DB) PLANDEFINED CONTRIBUTION (DC) PLANINDIVIDUAL RETIREMENT ACCOUNT (IRA)PENSION FUNDROTH IRATAX QUALIFIED PLANIndustry Code
NAICS 52511 - Retirement & Pension Plans in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Defined contribution plans, such as 401(k) plans, became more popular as employers shifted away from offering traditional defined benefit pensions. A defined benefit pension ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The number of people enrolled in defined benefit plans has been on the decline. Many employers strive to find cheaper alternatives.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Geographical spread of private retirement plans corresponds to the employment and income distribution, with sponsored plans mirroring employment patterns. Companies offer the...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Market regulation has a substantial impact on the level of concentration. Regulations, such as compliance and licensing requirements, minimum funding levels, and restrictions...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
California legislators proposed bills that would require the California Public Employees' Retirement System to divest from fossil fuel companies and increase climate disclosur...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of California Public Employees' Retirement System's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for California Public Employees' Retirement System, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulation regarding public and private pensions are expected to emerge over the coming years to salvage underfunded pensions. A pension fund becomes insolvent when it is no ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit margins decreased over the last five years. Industry profit has not returned to its pre-pandemic levels.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Retirement & Pension Plans in the US industry in United States in 2024?
The market size of the Retirement & Pension Plans in the US industry in United States is $965.3bn in 2024.
How many businesses are there in the Retirement & Pension Plans in the US industry in 2024?
There are 52,133 businesses in the Retirement & Pension Plans in the US industry in United States, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Retirement & Pension Plans in the US industry in United States grown or declined over the past 5 years?
The market size of the Retirement & Pension Plans in the US industry in United States has been declining at a CAGR of 3.3 % between 2019 and 2024.
What is the forecast growth of the Retirement & Pension Plans in the US industry in United States over the next 5 years?
Over the next five years, the Retirement & Pension Plans in the US industry in United States is expected to grow.
What are the biggest companies in the Retirement & Pension Plans in the US market in United States?
The biggest company operating in the Retirement & Pension Plans market in United States is California Public Employees' Retirement System
What does the Retirement & Pension Plans in the US in United States include?
Providing defined benefit plans to beneficiaries and Collecting employer and employee contributions are part of the Retirement & Pension Plans in the US industry.
Which companies have the highest market share in the Retirement & Pension Plans in the US in United States?
The company holding the most market share in United States is California Public Employees' Retirement System.
How competitive is the Retirement & Pension Plans in the US industry in United States?
The level of competition is moderate and steady in the Retirement & Pension Plans in the US industry in United States.
