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

Willis Towers Watson Pension Plan for U.S. Employees

Corporate pensionArlington, VA
Assets
$2.8B
Total assets, Dec 31, 2024 reported
Funded
91.4%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
28
1 managers on Schedule C
Plan sponsor: Willis Towers Watson US LLC
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 7.0%
  • Non-interest-bearing cash 0.4%
  • Other investments 33.1%
  • 103-12 investment entities 3.0%
  • Common/collective trusts 56.5%
Consultants and advisers
3 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
28 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Treasury US 10 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$103M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Treasury US 15 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$107M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Treasury U.S. 20 Year Key Rate Duracollective trustBlackrockFixed income$98.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024TSY U.S. 25+ Yr Key Rate Dur Nl Fdcollective trustBlackrockPooled vehicles$177M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Gt Diversified Equity Fundcollective trustTowers Watson Investment Services,Hedge / diversifiers$468M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Gt Long Credit Fundcollective trustTowers Watson Investment Services,Private credit$1.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$347M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Treasury U.S. 5 Year Key Rate Duratcollective trustBlackrock GroupFixed income$86.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Gt Diversified Credit Fundcollective trustTowers Watson Investment Services,Private credit$218M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024WTW Liquid Diversifiers Fund, Ltd103 12 ieTowers Watson Investment Services, Inc.Hedge / diversifiers$84.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Treasury US 10 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$97.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Treasury US 15 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$106M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Treasury U.S. 20 Year Key Rate Duracollective trustBlackrockFixed income$83.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023TSY U.S. 25+ Yr Key Rate Dur Nl Fdcollective trustBlackrockPooled vehicles$165M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Legal & General Treasury 15+ Stripscollective trustLegal and GeneralFixed income$4.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Diversified Equity Fundcollective trustTowers Watson Investment Services,Hedge / diversifiers$566M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Long Credit Fundcollective trustTowers Watson Investment Services,Private credit$160M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$374M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Treasury U.S. 5 Year Key Rate Duratcollective trustBlackrock GroupFixed income$21.6M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023WTW Gt Diversified Credit Fundcollective trustTowers Watson Investment Services,Private credit$67.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Treasury US 10 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$61.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Treasury US 15 Yr Key Rate Durationcollective trustBlackrock Institutional TrustFixed income$54.0M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Treasury U.S. 20 Year Key Rate Duracollective trustBlackrockFixed income$44.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022TSY U.S. 25+ Yr Key Rate Dur Nl Fdcollective trustBlackrockPooled vehicles$114M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Legal & General Treasury 15+ Stripscollective trustLegal and GeneralFixed income$57.5M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022WTW Gt Diversified Equity Fundcollective trustTowers Watson Investment Services,Hedge / diversifiers$598M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022WTW Gt Long Credit Fundcollective trustTowers Watson Investment Services,Private credit$144M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022WTW Gt Real Asset Fundcollective trustTowers Watson Investment Services,Real assets$404M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$2.8B Dec 31, 2024 reported Form 5500
$3.1B (2023-12) · $3.1B (2022-12)
Plan assets
$3.1B Jan 1, 2024 reported Form 5500
$3.1B (2023-01) · $3.8B (2022-01)
Net assets
$2.8B Dec 31, 2024 reported Form 5500
$3.1B (2023-12) · $3.1B (2022-12)
Funded ratio
91.4% Jan 1, 2024 reported Form 5500
94.4% (2023-01) · 100.5% (2022-01)
Funding target
$3.1B Jan 1, 2024 reported Form 5500
$3.0B (2023-01) · $2.8B (2022-01)
Discount rate
5.19% Jan 1, 2024 reported Form 5500
5.27% (2023-01) · 5.45% (2022-01)
Participants
28,429 Jan 1, 2024 reported Form 5500
27,854 (2023-01) · 27,431 (2022-01)
Contributions
$25.4M Dec 31, 2024 reported Form 5500
$17.9M (2023-12) · $16.1M (2022-12)
Benefits paid
$240M Dec 31, 2024 reported Form 5500
$160M (2023-12) · $163M (2022-12)
Net investment income
$-265M Dec 31, 2024 reported Form 5500
$-3.6M (2023-12) · $-733M (2022-12)
Investment management fees
$764,774 Dec 31, 2024 reported Form 5500
$547,470 (2023-12) · $486,219 (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 202428,429$3.1B$3.1B91.4%$2.8Bn/an/an/a
2023 to Dec 31, 202327,854$3.1B$3.0B94.4%$3.1Bn/an/an/a
2022 to Dec 31, 202227,431$3.8B$2.8B100.5%$3.1Bn/an/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
  • Blackrock Institutional Trust Co. codes 21 24 28 50 51 $496,261 PY2024
  • Northern Trust codes 21 28 50 51 62 $403,212 PY2024
  • Parametric codes 28 51 $262,360 PY2024
  • Deloitte and Touche LLP codes 10 50 $69,675 PY2024
  • Goldman Sachs Asset Management codes 28 50 $5,969 PY2024
  • Blkrk Trs US 10 Yr Key Rt Dur Nl Fd Sched. D C $103M PY2024
  • Blkrk Trs US 15yr Key Rt Fed Res Fd Sched. D C $107M PY2024
  • Blkrk Trs US 20yr Key Rt Fed Res Fd Sched. D C $98.0M PY2024
  • Blkrk Trs US 25yr Key Rt Fed Res Fd Sched. D C $177M PY2024
  • Legal & Gen Trs 15+ Strips Cit Fund Sched. D C PY2024
  • WTW Gt Diversified Equity Fund Sched. D C $468M PY2024
  • WTW Gt Long Credit Fund Sched. D C $1.2M PY2024
  • WTW Gt Real Asset Fund Sched. D C $347M PY2024
  • Blkrk Trs US 5yr Key Rt Due Nl Fd Sched. D C $86.9M PY2024
  • WTW Gt Diversified Credit Fund Sched. D C $218M PY2024
  • WTW Liquid Diversifiers Fund, Ltd Sched. D E $84.0M PY2024
  • Willis Towers Watson US LLC codes 11 PY2024
  • Northern Trust codes 21 28 50 51 62 $363,743 PY2023
  • Parametric codes 28 51 $278,500 PY2023
  • Blackrock Institutional Trust Co. codes 21 24 28 50 51 $244,546 PY2023
  • Deloitte and Touche LLP codes 10 50 $69,625 PY2023
  • Legal & General Inv Mgmt America codes 28 51 $24,424 PY2023
  • Blkrk Trs US 15yr Key Rt Fed Res Fd Sched. D C $106M PY2023
  • Blkrk Trs US 20yr Key Rt Fed Res Fd Sched. D C $83.0M PY2023
  • Blkrk Trs US 25yr Key Rt Fed Res Fd Sched. D C $165M PY2023
  • Legal & Gen Trs 15+ Strips Cit Fund Sched. D C $4.7M PY2023
  • WTW Gt Diversified Equity Fund Sched. D C $566M PY2023
  • WTW Gt Long Credit Fund Sched. D C $160M PY2023
  • WTW Gt Real Asset Fund Sched. D C $374M PY2023
  • Blkrk Trs US 5yr Key Rt Due Nl Fd Sched. D C $21.6M PY2023
  • WTW Gt Diversified Credit Fund Sched. D C $67.9M PY2023
  • Blkrk Trs US 10 Yr Key Rt Dur Nl Fd Sched. D C $97.0M PY2023
  • Willis Towers Watson US LLC codes 11 PY2023
  • Northern Trust codes 21 28 50 51 62 $338,300 PY2022
  • Parametric codes 28 51 $256,816 PY2022
  • Blackrock Institutional Trust Co. codes 21 24 28 50 51 $187,075 PY2022
  • Deloitte and Touche LLP codes 10 50 $65,001 PY2022
  • Legal & General Inv Mgmt America codes 28 51 $42,328 PY2022
  • Legal & Gen Trs 15+ Strips Cit Fund Sched. D C $57.5M PY2022
  • WTW Gt Diversified Equity Fund Sched. D C $598M PY2022
  • WTW Gt Long Credit Fund Sched. D C $144M PY2022
  • WTW Gt Real Asset Fund Sched. D C $404M PY2022
  • Blkrk Trs US 10 Yr Key Rt Dur Nl Fd Sched. D C $61.1M PY2022
  • Blkrk Trs US 15yr Key Rt Fed Res Fd Sched. D C $54.0M PY2022
  • Blkrk Trs US 20yr Key Rt Fed Res Fd Sched. D C $44.3M PY2022
  • Blkrk Trs US 25yr Key Rt Fed Res Fd Sched. D C $114M PY2022
  • Willis Towers Watson US LLC codes 11 PY2022
What changed
9 events
  • Dec 31, 2024Holding endedinference
    Willis Towers Watson Pension Plan for U.S. Employees no longer reports Legal & General Treasury 15+ Strips (Legal and General) (last held $5M at 2023-12-31; absent from the 2024-12-31 filing)
    with Legal and Generalaskebsa.dol.gov
  • Dec 31, 2024Holding started
    Willis Towers Watson Pension Plan for U.S. Employees first reports an interest in WTW Liquid Diversifiers Fund, Ltd: $84M at 2024-12-31
    with WTW Liquid Diversifiers Fund, Ltd.askebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Goldman Sachs Asset Management appears on Willis Towers Watson Pension Plan for U.S. Employees's Schedule C as investment manager (plan year 2024 vs 2023)
    with Goldman Sachs Asset Managementaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Legal & General Inv Mgmt America no longer appears on Willis Towers Watson Pension Plan for U.S. Employees's Schedule C as investment manager (plan year 2024 vs 2023)
    with Legal & General Inv Mgmt Americaaskebsa.dol.gov
  • Jan 1, 2024Funded status changed
    Willis Towers Watson Pension Plan for U.S. Employees funded ratio 94.4% -> 91.4% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Holding started
    Willis Towers Watson Pension Plan for U.S. Employees first reports an interest in WTW Gt Diversified Credit Fund (Towers Watson Investment Services,): $68M at 2023-12-31
    with Towers Watson Investment Services,askebsa.dol.gov
  • Dec 31, 2023Holding started
    Willis Towers Watson Pension Plan for U.S. Employees first reports an interest in Treasury U.S. 5 Year Key Rate Durat: $22M at 2023-12-31
    with Treasury U.S. 5 Year Key Rate Durataskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Willis Towers Watson Pension Plan for U.S. Employees funded ratio 100.5% -> 94.4% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    Willis Towers Watson Pension Plan for U.S. Employees plan assets $3.8B -> $3.1B (-19.1%, 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 530181291-004
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.