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

American Express Retirement Plan

Corporate pensionNEW York, NY
Assets
$1.1B
Total assets, Sep 30, 2025 reported
Funded
97.3%
Oct 1, 2024
Private markets target
n/a
policy Sep 30, 2025
Commitments
11
1 managers on Schedule C
Plan sponsor: American Express Company and Its Participating Subsidiaries
Allocation policy
Form 5500, as of Sep 30, 2025
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 1.1%
  • Non-interest-bearing cash 0.2%
  • Corporate debt instruments (other) 29.2%
  • U.S. Government securities 24.5%
  • Other investments 2.8%
  • Partnership/joint venture interests 18.0%
  • Common/collective trusts 14.5%
  • Registered investment companies 4.5%
Consultants and advisers
3 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
3 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
11 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Sep 30, 2025Msci Acwi Equity Index Non-Lendablecollective trustBlackrock Institutional TrustPublic equity$88.9M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025GQG Partners Emerging Mkt Fundcollective trustReliance Trust CompanyPooled vehicles$45.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Short Term Investment Fundscollective trustBlackrock Institutional TrustCash$25.1M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Msci Acwi Equity Index Non-Lendablecollective trustBlackrock Institutional TrustPublic equity$161M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024GQG Partners Emerging Mkt Fundcollective trustReliance Trust CompanyPooled vehicles$50.9M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Sustainable Growth Adv Global Citcollective trustVirtus Investment Advisors (via)Pooled vehicles$47.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Short Term Investment Fundscollective trustBlackrock Institutional TrustCash$28.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Msci Acwi Equity Index Non-Lendablecollective trustBlackrock Institutional TrustPublic equity$205M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023GQG Partners Emerging Mkt Fundcollective trustReliance Trust CompanyPooled vehicles$79.7M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Sustainable Growth Adv Global Citcollective trustVirtus Investment Advisors (via)Pooled vehicles$70.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Short Term Investment Fundscollective trustBlackrock Institutional TrustCash$39.9M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$1.1B Sep 30, 2025 reported Form 5500
$1.2B (2024-09) · $1.0B (2023-09)
Plan assets
$1.1B Oct 1, 2024 reported Form 5500
$951M (2023-10) · $948M (2022-10)
Net assets
$1.0B Sep 30, 2025 reported Form 5500
$1.1B (2024-09) · $951M (2023-09)
Funded ratio
97.3% Oct 1, 2024 reported Form 5500
100.8% (2023-10) · 102.5% (2022-10)
Funding target
$913M Oct 1, 2024 reported Form 5500
$959M (2023-10) · $961M (2022-10)
Discount rate
5.28% Oct 1, 2024 reported Form 5500
5.06% (2023-10) · 5.23% (2022-10)
Participants
17,067 Oct 1, 2024 reported Form 5500
17,834 (2023-10) · 18,509 (2022-10)
Contributions
$0 Sep 30, 2025 reported Form 5500
$0 (2024-09) · $0 (2023-09)
Benefits paid
$84.4M Sep 30, 2025 reported Form 5500
$76.2M (2024-09) · $63.9M (2023-09)
Net investment income
$-50.5M Sep 30, 2025 reported Form 5500
$107M (2024-09) · $3.0M (2023-09)
Investment management fees
$2.4M Sep 30, 2025 reported Form 5500
$2.2M (2024-09) · $2.1M (2023-09)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Sep 30, 202517,067$1.1B$913M97.3%$1.1B$198Mn/an/a
2023 to Sep 30, 202417,834$951M$959M100.8%$1.2B$209Mn/an/a
2022 to Sep 30, 202318,509$948M$961M102.5%$1.0B$237Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
6 events
  • Sep 30, 2025Holding endedinference
    American Express Retirement Plan no longer reports Sustainable Growth Adv Global Cit (Virtus Investment Advisors (via)) (last held $48M at 2024-09-30; absent from the 2025-09-30 filing)
    with Virtus Investment Advisors (via)askebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Legal & General Invest Mgmt America no longer appears on American Express Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Legal & General Inv Mgmt Americaaskebsa.dol.gov
  • Oct 1, 2024Funded status changed
    American Express Retirement Plan funded ratio 100.8% -> 97.3% (2023-10-01 to 2024-10-01)
    askebsa.dol.gov
  • Oct 1, 2024Assets changed
    American Express Retirement Plan plan assets $951M -> $1.1B (+11.2%, 2023-10-01 to 2024-10-01)
    askebsa.dol.gov
  • Sep 30, 2024Assets changed
    American Express Retirement Plan total assets $1.0B -> $1.2B (+13.8%, 2023-09-30 to 2024-09-30)
    askebsa.dol.gov
  • Dec 31, 2023Manager relationship started
    Fiam appears on American Express Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Fidelity Institutional Asset Mgmt Taskebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 134922250-005
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.