DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

Corporate pension

Usaa Pension Plan

Corporate pensionSAN Antonio, TX
Assets
$4.6B
Total assets, Dec 31, 2024 reported
Funded
103.3%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
19
none on the tape
Plan sponsor: United Services Automobile Association
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 0.4%
  • Non-interest-bearing cash 0.0%
  • Corporate debt instruments (other) 24.1%
  • Corporate debt instruments (preferred) 0.9%
  • U.S. Government securities 26.3%
  • Other investments 0.4%
  • Partnership/joint venture interests 12.4%
  • Common/collective trusts 28.4%
  • Registered investment companies 0.4%
Consultants and advisers
5 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
4 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
19 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$126M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$60.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Emerging Markets Indx Sl Sf Cl IIcollective trustState Street Gbl EquityPublic equity$127M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Ssga Sp 500 Idx Sec Lnd Ser IIcollective trustState Street - Russell 2000Pooled vehicles$554M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Russell Small Mid Cap Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$140M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024World Developed Ex US Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$288M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$149M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$211M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Emerging Markets Indx Sl Sf Cl IIcollective trustState Street Gbl EquityPublic equity$113M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Ssga Sp 500 Idx Sec Lnd Ser IIcollective trustState Street - Russell 2000Pooled vehicles$513M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Russell Small Mid Cap Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$136M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023World Developed Ex US Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$306M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Jpmcb Strategic Property Fundcollective trustJ.P. Morgan ChaseReal estate$184M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Collective Short Term Investment Fdcollective trustThe Northern Trust CompanyCash$43.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Pimco Collective Investment Trustcollective trustSEI Trust CompanyPooled vehicles$38.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Emerging Markets Indx Sl Sf Cl IIcollective trustState Street Gbl EquityPublic equity$74.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Ssga Sp 500 Idx Sec Lnd Ser IIcollective trustState Street - Russell 2000Pooled vehicles$339M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Russell Small Mid Cap Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$95.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022World Developed Ex US Indx Sl Sf Clcollective trustState Street Gbl EquityPooled vehicles$236M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$4.6B Dec 31, 2024 reported Form 5500
$4.7B (2023-12) · $4.9B (2022-12)
Plan assets
$4.3B Jan 1, 2024 reported Form 5500
$4.3B (2023-01) · $5.6B (2022-01)
Net assets
$4.3B Dec 31, 2024 reported Form 5500
$4.4B (2023-12) · $4.4B (2022-12)
Funded ratio
103.3% Jan 1, 2024 reported Form 5500
102.8% (2023-01) · 112.0% (2022-01)
Funding target
$2.8B Jan 1, 2024 reported Form 5500
$2.8B (2023-01) · $2.7B (2022-01)
Discount rate
5.16% Jan 1, 2024 reported Form 5500
5.31% (2023-01) · 5.49% (2022-01)
Participants
48,880 Jan 1, 2024 reported Form 5500
47,664 (2023-01) · 46,251 (2022-01)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $0 (2022-12)
Benefits paid
$245M Dec 31, 2024 reported Form 5500
$356M (2023-12) · $335M (2022-12)
Net investment income
$-138M Dec 31, 2024 reported Form 5500
$29.0M (2023-12) · $-1.3B (2022-12)
Investment management fees
$8.6M Dec 31, 2024 reported Form 5500
$4.4M (2023-12) · $7.2M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 202448,880$4.3B$2.8B103.3%$4.6B$565Mn/an/a
2023 to Dec 31, 202347,664$4.3B$2.8B102.8%$4.7B$461Mn/an/a
2022 to Dec 31, 202246,251$5.6B$2.7B112.0%$4.9B$370Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
9 events
  • Dec 31, 2024Manager relationship endedinference
    Pacific Investment Management Co. no longer appears on Usaa Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Pacific Investmt Management Co LLCaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Western Asset no longer appears on Usaa Pension Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Legg Mason, Inc and Subsidiariesaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    Usaa Pension Plan no longer reports Collective Short Term Investment Fd (last held $43M at 2022-12-31; absent from the 2023-12-31 filing)
    with Collective Short Term Investment Fdaskebsa.dol.gov
  • Dec 31, 2023Holding started
    Usaa Pension Plan first reports an interest in NT Collective Short Term Investment (Northern Trust Collective Eafe Inde): $211M at 2023-12-31
    with Northern Trust Collective Eafe Indeaskebsa.dol.gov
  • Dec 31, 2023Holding endedinference
    Usaa Pension Plan no longer reports Pimco Collective Investment Trust (last held $39M at 2022-12-31; absent from the 2023-12-31 filing)
    with Pimco Collective Investment Trustaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Nisa Investment Advisors, LLC appears on Usaa Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Nisa Investment Advisors, LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Goldman Sachs Asset Management appears on Usaa Pension Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Goldman Sachs Asset Managementaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Usaa Pension Plan funded ratio 112.0% -> 102.8% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    Usaa Pension Plan plan assets $5.6B -> $4.3B (-23.3%, 2022-01-01 to 2023-01-01)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 740959140-001
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.