Navy Federal Credit Union Employees' Retirement Plan
Corporate pension, based in Merrifield, Virginia, reporting $2.3B in assets, for 24,473 participants.
Composed from this allocator's classification, location and filed figures.
Nothing material in the last 90 days. Last change: 31 Dec 2025, AON Hewitt Investment Consulting no longer appears on Navy Federal Credit Union Employees' Retirement Plan's Schedule C as pension consultant (plan year 2025 vs 2024).
2 more advisers, 1 more manager, 13 more commitments and 9 more dated events
Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Capital path
who backs this record, through what, into what; each name opens its own path- Credit Suisse Floating Rate Trust4 commitments
- S&p 500 Flagship Nl Fund4 commitments
- Parametric Defensive Equity Fund4 commitments
- State Street Global Advisors Trust Company4 commitments
- Parametric Portfolio Associates4 commitments
- Legal and General2 commitments
Relationship network
28 connected entities16 observed commitments11 repeat counterparties15 dated commitments shown here, 2022 to 2025
From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.
- Sponsor
- Fund or vehicle
- Service provider
- Organization
›How strength and recency are read
Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Size, funding, policy and commitments, with their basesCorporate pensionShowHide
Allocation policy
- Interest-bearing cash 3.3%
- Corporate debt instruments (other) 7.8%
- U.S. Government securities 1.9%
- Other investments 0.2%
- Partnership/joint venture interests 6.6%
- 103-12 investment entities 6.8%
- Common/collective trusts 30.9%
- Registered investment companies 38.8%
- Common stock 3.0%
Consultants and advisers
- Towers Watson Investment Services, Pension consultantthrough Dec 31, 2025 Form 5500
- AON Investments USA Inc Pension consultantthrough Dec 31, 2022 Form 5500
- Principal Trust Co. Custodianthrough Dec 31, 2025 Form 5500
+2 more consultants and advisers advise this allocator
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
People
Manager roster
- State Street Global Advisors Trust Company4 rows, latest Dec 31, 2025
- Parametric Portfolio Associates4 rows, latest Dec 31, 2025
- Legal and General2 rows, latest Dec 31, 2025
+1 more manager received commitments
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
- Parametric Portfolio Associatesplan years
- Sands Capital Management, LLCplan years 2022
- Great Lakes Advisorsplan years 2025
+4 more Schedule C managers
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What changed
- Dec 31, 2025Consultant changedinferenceAON Hewitt Investment Consulting no longer appears on Navy Federal Credit Union Employees' Retirement Plan's Schedule C as pension consultant (plan year 2025 vs 2024)with AON Investments USA Incaskebsa.dol.gov
- Dec 31, 2025Manager relationship startedTowers Watson Investment Svc, Inc appears on Navy Federal Credit Union Employees' Retirement Plan's Schedule C as investment manager (plan year 2025 vs 2024)with Towers Watson Investment Services,askebsa.dol.gov
- Dec 31, 2025Manager relationship startedLegal & General Invs Mngt America appears on Navy Federal Credit Union Employees' Retirement Plan's Schedule C as investment manager (plan year 2025 vs 2024)with Legal & General Inv Mgmt Americaaskebsa.dol.gov
- Dec 31, 2025Manager relationship endedinferenceSands Capital Management, LLC no longer appears on Navy Federal Credit Union Employees' Retirement Plan's Schedule C as investment manager (plan year 2025 vs 2024)with Sands Capital Management, LLCaskebsa.dol.gov
- Dec 31, 2025Assets changedNavy Federal Credit Union Employees' Retirement Plan total assets $2.1B -> $2.3B (+10.7%, 2024-12-31 to 2025-12-31)
+9 more dated events
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Commitments
| Date | Fund | Manager | Bucket | Amount | Vintage | Status | Source |
|---|---|---|---|---|---|---|---|
| as of Dec 31, 2025 | Legal & General Treasury 15+ Stripscollective trust | Legal and General | Fixed income | $225M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | Credit Suisse Floating Rate Trustcollective trust | Wilmington Trust, Na | Private credit | $40.1M held | Disclosed holding | askebsa.dol.gov | |
| as of Dec 31, 2025 | S&p 500 Flagship Nl Fundcollective trust | State Street Global Advisors Trust Company | Pooled vehicles | $175M held | Disclosed holding | askebsa.dol.gov |
+13 more commitments
Every fund and manager this allocator committed to, with the amount, date and source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Size and funding
Form 5500 filings
| Plan year | Participants | Assets (SB market) | Funding target | FTAP | Total assets (H) | Partnerships / JV | Master trust | Real estate |
|---|---|---|---|---|---|---|---|---|
| 2025 to Dec 31, 2025 | 24,473 | $2.1B | $1.5B | 106.4% | $2.3B | $151M | Not disclosed | Not disclosed |
| 2024 to Dec 31, 2024 | 22,380 | $2.0B | $1.4B | 108.2% | $2.1B | Not disclosed | Not disclosed | Not disclosed |
| 2023 to Dec 31, 2023 | 19,921 | $1.7B | $1.3B | 102.1% | $2.0B | Not disclosed | Not disclosed | Not disclosed |
| 2022 to Dec 31, 2022 | 19,648 | $2.1B | $1.2B | 140.4% | $1.8B | Not disclosed | Not disclosed | Not disclosed |
- Wellington Management codes 51 68 $447,961 PY2025
- Willis Towers Watson US LLC codes 11 49 50 56 $430,600 PY2025
- Metropolitan West Asset Mgmt, LLC codes 28 51 $364,297 PY2025
+55 more service providers
Every name, record and relationship behind this count, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Provenance
Provenance
Navy Federal Credit Union Employees' Retirement Plan sits on 8 traced paths of capital across the graphs.
DFX traced 8 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Manager relationship started2025-12-31source on record
- Consultant changed2025-12-31source on record
- Manager relationship started2025-12-31source on record
+11 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
›Connections
every published relationship on the graph
+16 connections on the graph
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.