The Form 5500 Annual Report is the primary source of information about the operations, funding, and investments of about 800,000 401(k) plans and other employer-sponsored retirement and welfare benefit plans across the United States. This report is jointly developed by the Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation.
Data in Action: Open Data for a Secure Retirement
One company compiles data about the retirement plan market from numerous sources, including Form 5500 data, and uses this data to rate 401(k) and 403(b) plans across quantitative metrics. The company also gathers data about financial advisors from FINRA and state insurance departments.
One investment advice company uses federal data to compare the investment offerings and fees charged by different retirement and investment plans.
One service offering financial advice to employees uses data from federal sources to provide financial guidance.