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P&I/Watson Wyatt world's 300 largest retirement plans
Ranked by total assets, in millions of U.S. dollars.
| RANK | manager | Country | Assets |
| 1 | Government Pension Investment | Japan | $418,9761 |
| 2 | ABP | Netherlands | $188,505 |
| 3 | California Public Employees | U.S. | $148,840 |
| 4 | Federal Retirement Thrift | U.S. | $118,815 |
| 5 | New York State Common | U.S. | $106,843 |
| 6 | Local Government Officials | Japan | $105,0961 |
| 7 | California State Teachers | U.S. | $103,277 |
| 8 | National Pension | Korea | $100,2892 |
| 9 | Florida State Board | U.S. | $92,310 |
| 10 | Postal Savings Fund | Taiwan | $91,537 |
| 11 | General Motors | U.S. | $89,738 |
| 12 | Texas Teachers | U.S. | $77,836 |
| 13 | New York State Teachers | U.S. | $73,481 |
| 14 | National Public Service | Japan | $72,6231 |
| 15 | PGGM | Netherlands | $66,350 |
| 16 | New Jersey | U.S. | $63,591 |
| 17 | General Electric | U.S. | $61,622 |
| 18 | Central Provident Fund | Singapore | $60,770 |
| 19 | Public Schools Employees | Japan | $60,3341 |
| 20 | IBM | U.S. | $60,119 |
| 21 | Employees Provident | Malaysia | $58,476 |
| 22 | Boeing | U.S. | $58,230 |
| 23 | Wisconsin Investment Board | U.S. | $57,982 |
| 24 | Ontario Teachers | Canada | $57,493 |
| 25 | North Carolina | U.S. | $56,300 |
| 26 | Verizon | U.S. | $54,591 |
| 27 | Canada Pension | Canada | $53,8953 |
| 28 | Ohio Public Employees | U.S. | $53,691 |
| 29 | Organization for Worker's | Japan | $52,2891 |
| 30 | New York City Retirement | U.S. | $51,892 |
| 31 | Ohio State Teachers | U.S. | $48,463 |
| 32 | Pension Fund Association | Japan | $47,205 |
| 33 | Michigan Retirement | U.S. | $46,878 |
| 34 | British Telecommunications | U.K. | $46,681 |
| 35 | Government Employees | South Africa | $45,779* |
| 36 | Ford Motor | U.S. | $44,899 |
| 37 | ATP | Denmark | $44,382 |
| 38 | Pennsylvania School Employees | U.S. | $43,525 |
| 39 | University of California | U.S. | $42,951 |
| 40 | Washington State Board | U.S. | $42,461 |
| 41 | Qubec Government & Public | Canada | $42,407 |
| 42 | Georgia Teachers | U.S. | $39,432 |
| 43 | Oregon Public Employees | U.S. | $38,689 |
| 44 | British Coal Pension Schemes | U.K. | $36,793 |
| 45 | Lucent Technologies | U.S. | $36,684 |
| 46 | New York City Teachers | U.S. | $36,675 |
| 47 | SBC Communications | U.S. | $36,540 |
| 48 | Bayerische Versorgungskammer | Germany | $36,401 |
| 49 | Universities Superannuation | U.K. | $36,307 |
| 50 | Minnesota State Board | U.S. | $36,282 |
| 51 | Virginia Retirement | U.S. | $36,237 |
| 52 | Lockheed Martin | U.S. | $32,940 |
| 53 | Electricity Supply Pension | U.K. | $31,5863 |
| 54 | Massachusetts PRIM | U.S. | $29,300 |
| 55 | Illinois Teachers | U.S. | $27,987 |
| 56 | Consignia Pension Schemes | U.K. | $27,8483 |
| 57 | Maryland State Retirement | U.S. | $27,360 |
| 58 | Colorado Employees | U.S. | $27,161 |
| 59 | Los Angeles County Employees | U.S. | $26,468 |
| 60 | Private Schools Employees | Japan | $26,3871 |
| 61 | Northrop Grumman | U.S. | $25,700 |
| 62 | Metaal/tech. Bedrijven | Netherlands | $25,567 |
| 63 | Ontario Municipal Employees | Canada | $25,279 |
| 64 | Teamsters, Western Conf. | U.S. | $25,021 |
| 65 | Tennessee Consolidated | U.S. | $24,710 |
| 66 | AT&T | U.S. | $24,511 |
| 67 | Railways Pensions | U.K. | $24,174 |
| 68 | Pennsylvania Employees | U.S. | $23,831 |
| 69 | Alabama Retirement | U.S. | $23,611 |
| 70 | Bundes Pensionskasse | Switzerland | $23,585 |
| 71 | National Railroad | U.S. | $23,518 |
| 72 | DaimlerChrysler | U.S. | $22,971 |
| 73 | South Carolina Retirement | U.S. | $22,950 |
| 74 | DuPont | U.S. | $22,871 |
| 75 | United Nations Joint Staff | U.S. | $22,400 |
| 76 | Scottish Public Pensions | U.K. | $21,335 |
| 77 | Raytheon | U.S. | $21,250 |
| 78 | Royal Bank of Scotland Group | U.K. | $21,031 |
| 79 | Falketrygfondet | Norway | $20,771 |
| 80 | United Technologies | U.S. | $20,462 |
| 81 | Exxon Mobil | U.S. | $20,408 |
| 82 | Missouri Public Schools | U.S. | $20,272 |
| 83 | Shell Contributory Pension | U.K. | $20,177 |
| 84 | Previ | Brazil | $20,087 |
| 85 | BVV | Germany | $20,083 |
| 86 | BellSouth | U.S. | $19,969 |
| 87 | Bouwnijverheid | Netherlands | $19,951 |
| 88 | Lattice Group | U.K. | $19,841 |
| 89 | AP Fonden 3 | Sweden | $19,674 |
| 90 | AP Fonden 2 | Sweden | $19,538 |
| 91 | Public Institute/Social Security | Kuwait | $19,226 |
| 92 | AP Fonden 1 | Sweden | $19,223 |
| 93 | Arizona State Retirement | U.S. | $19,134 |
| 94 | Texas Employees | U.S. | $18,843 |
| 95 | Utah State Retirement | U.S. | $18,819 |
| 96 | AP Fonden 4 | Sweden | $18,791 |
| 97 | Connecticut Retirement | U.S. | $18,578 |
| 98 | Citigroup | U.S. | $18,449 |
| 99 | Barclays Bank U.K. | U.K. | $18,282 |
| 100 | PME | Netherlands | $18,089 |
| 101 | BP | U.K. | $17,713 |
| 102 | Honeywell | U.S. | $17,500 |
| 103 | British Airways | U.K. | $17,164 |
| 104 | Local Government Pensions | Finland | $17,145 |
| 105 | Lloyds TSB Group | U.K. | $17,050 |
| 106 | Altria Group | U.S. | $16,810 |
| 107 | Teamsters Central States | U.S. | $16,532 |
| 108 | State Super | Australia | $16,4782 |
| 109 | Nippon Telegraph & Telephone | Japan | $15,860 |
| 110 | Iowa Employees | U.S. | $15,749 |
| 111 | Phillips | Netherlands | $15,720 |
| 112 | Bae Systems Pension Scheme | U.K. | $15,513 |
| 113 | Qubec Pension | Canada | $15,4893 |
| 114 | Mississippi Employees | U.S. | $15,401 |
| 115 | Kantons Zurich | Switzerland | $15,294 |
| 116 | Shell | Netherlands | $15,263 |
| 117 | Illinois Municipal | U.S. | $15,136 |
| 118 | Bank of America | U.S. | $15,100 |
| 119 | AFP Provida | Chile | $14,972 |
| 120 | Siemens | Germany | $14,479 |
| 121 | Hospitals of Ontario | Canada | $14,411 |
| 122 | Nevada Public Employees | U.S. | $14,361 |
| 123 | UBS | Switzerland | $14,208 |
| 124 | British Steel | U.K. | $13,552 |
| 125 | Novartis | Switzerland | $13,523 |
| 126 | Georgia Employees | U.S. | $13,498 |
| 127 | United Parcel Service | U.S. | $13,417 |
| 128 | Labor Insurance Fund | Taiwan | $13,4084 |
| 129 | Alaska Investment Board | U.S. | $13,339 |
| 130 | HSBC Bank | U.K. | $13,210 |
| 131 | Dow Chemical | U.S. | $13,111 |
| 132 | Shell Oil | U.S. | $12,986 |
| 133 | American Airlines | U.S. | $12,962 |
| 134 | Prudential | U.S. | $12,942 |
| 135 | Artsenpensioenfondsen | Netherlands | $12,905 |
| 136 | B.C. Municipal | Canada | $12,748 |
| 137 | Qwest | U.S. | $12,655 |
| 138 | Huisartsen | Netherlands | $12,552 |
| 139 | Banamex Aegon | Mexico | $12,488 |
| 140 | Eastman Kodak | U.S. | $12,479 |
| 141 | Kentucky Retirement | U.S. | $12,422 |
| 142 | Pfizer | U.S. | $12,409 |
| 143 | BP America | U.S. | $12,300 |
| 144 | 3M | U.S. | $12,294 |
| 145 | State Farm | U.S. | $12,224 |
| 146 | Kentucky Teachers | U.S. | $12,161 |
| 147 | Greater Manchester | U.K. | $12,1423 |
| 148 | National Pensions Reserve | Ireland | $12,001 |
| 149 | Strathclyde Pension Fund | U.K. | $11,845 |
| 150 | Hewlett-Packard | U.S. | $11,814 |
| 151 | Spoorwegpensioenfonds | Netherlands | $11,741 |
| 152 | ICI | U.K. | $11,709 |
| 153 | San Francisco City & County | U.S. | $11,661 |
| 154 | Illinois State Universities | U.S. | $11,638 |
| 155 | United Methodist Church | U.S. | $11,598 |
| 156 | Kommunernes | Denmark | $11,555 |
| 157 | Bancomer | Mexico | $11,408 |
| 158 | AFP Habitat | Chile | $11,379 |
| 159 | Delta Air Lines | U.S. | $11,273 |
| 160 | United Airlines | U.S. | $11,135 |
| 161 | FedEx | U.S. | $11,080 |
| 162 | Alcoa | U.S. | $10,939 |
| 163 | Migros-Genossenschafts-Bund | Switzerland | $10,866 |
| 164 | JPMorgan Chase | U.S. | $10,773 |
| 165 | Los Angeles Fire & Police | U.S. | $10,674 |
| 166 | Toyota Motor | Japan | $10,6551 |
| 167 | Louisiana Teachers | U.S. | $10,514 |
| 168 | Tokyo Municipal Government | Japan | $10,5051 |
| 169 | Matsushita Electric Industrial | Japan | $10,4871 |
| 170 | BBC | U.K. | $10,312 |
| 171 | National Electric | U.S. | $10,297 |
| 172 | ChevronTexaco | U.S. | $10,290 |
| 173 | Caterpillar | U.S. | $10,273 |
| 174 | National Pension Association | Japan | $10,2631 |
| 175 | Texas Municipal Retirement | U.S. | $10,250 |
| 176 | United States Steel | U.S. | $10,189 |
| 177 | Delphi | U.S. | $10,169 |
| 178 | Indiana Public Employees | U.S. | $10,078 |
| 179 | PG&E | U.S. | $10,058 |
| 180 | Texas County & District | U.S. | $10,002 |
| 181 | Wells Fargo | U.S. | $9,972 |
| 182 | Qubec Teachers' | Canada | $9,887 |
| 183 | B.C. Public Service | Canada | $9,847 |
| 184 | International Paper | U.S. | $9,777 |
| 185 | Procter & Gamble | U.S. | $9,718 |
| 186 | World Bank | U.S. | $9,667 |
| 187 | General Dynamics | U.S. | $9,581 |
| 188 | Illinois State Board | U.S. | $9,524 |
| 189 | Ontario Pension Board | Canada | $9,482 |
| 190 | Chicago Public School Teachers | U.S. | $9,432 |
| 191 | Labor Pension Fund | Taiwan | $9,347 |
| 192 | Kaiser | U.S. | $9,325 |
| 193 | ING St. Psf. | Netherlands | $9,288 |
| 194 | SBB Pensionskasse | Switzerland | $9,257 |
| 195 | Lonmodtagernes Dyrtidsfond | Denmark | $9,116 |
| 196 | Kansas Public Employees | U.S. | $9,051 |
| 197 | Bank of Botswana | Botswana | $8,972 |
| 198 | Canadian National Railways | Canada | $8,958 |
| 199 | PK Post | Switzerland | $8,935 |
| 200 | B.C. Teachers' | Canada | $8,843 |
| 201 | City of Zurich | Switzerland | $8,837 |
| 202 | West Midlands Metropolitan | U.K. | $8,8015 |
| 203 | BCE Master Trust | Canada | $8,747 |
| 204 | Exelon | U.S. | $8,738 |
| 205 | New Mexico Public Employees | U.S. | $8,633 |
| 206 | Grafische Bedrijven | Netherlands | $8,509 |
| 207 | Federal Reserve Employees | U.S. | $8,425 |
| 208 | Deere | U.S. | $8,360 |
| 209 | Wachovia | U.S. | $8,352 |
| 210 | Johnson & Johnson | U.S. | $8,187 |
| 211 | Zenkoku Shinyo Kinko | Japan | $8,182 |
| 212 | Consolidated Edison | U.S. | $8,170 |
| 213 | Southern Co. | U.S. | $8,105 |
| 214 | Viacom | U.S. | $8,092 |
| 215 | Ohio Police & Fire | U.S. | $8,073 |
| 216 | Merrill Lynch | U.S. | $7,954 |
| 217 | West Yorkshire | U.K. | $7,920 |
| 218 | Hawaii Employees | U.S. | $7,863 |
| 219 | Motorola | U.S. | $7,733 |
| 220 | Petros | Brazil | $7,6266 |
| 221 | ABN AMRO | Netherlands | $7,590 |
| 222 | CGNU | U.K. | $7,566 |
| 223 | Rolls-Royce | U.K. | $7,5413 |
| 224 | AFP Cuprum | Chile | $7,531 |
| 225 | Bayer Pensionskasse | Germany | $7,531 |
| 226 | Mizuho Financial Group | Japan | $7,4921 |
| 227 | Ohio School Employees | U.S. | $7,461 |
| 228 | Local Authorities Pension Board | Canada | $7,448 |
| 229 | OPSEU | Canada | $7,435 |
| 230 | MetLife | U.S. | $7,400 |
| 231 | Abbott Laboratories | U.S. | $7,264 |
| 232 | RRPE Qubec | Canada | $7,261 |
| 233 | Arkansas Teachers | U.S. | $7,158 |
| 234 | Xerox | U.S. | $7,145 |
| 235 | Hydro-Quebec | Canada | $7,137 |
| 236 | UniSuper | Australia | $7,1142 |
| 237 | Tennessee Valley Authority | U.S. | $7,111 |
| 238 | Los Angeles City Employees | U.S. | $7,079 |
| 239 | Operating Engineers Int'l | U.S. | $7,013 |
| 240 | Idaho Public Employees | U.S. | $6,933 |
| 241 | GlaxoSmithKline | U.K. | $6,925 |
| 242 | Maine State Retirement | U.S. | $6,922 |
| 243 | TKP-TPG KPN Pensioen | Netherlands | $6,896 |
| 244 | Credit Suisse | Switzerland | $6,882 |
| 245 | Canada Post | Canada | $6,795 |
| 246 | ConocoPhillips | U.S. | $6,780 |
| 247 | FEFSS | Portugal | $6,778 |
| 248 | Magistrenes Pensionskasse | Denmark | $6,746 |
| 249 | Baden-Wurttembergische | Germany | $6,673* |
| 250 | Boilermaker-Blacksmith | U.S. | $6,615 |
| 251 | Public Service Pension Fund | Taiwan | $6,6027 |
| 252 | Southern Baptist Convention | U.S. | $6,544 |
| 253 | Mitsubishi Tokyo Financial Group | Japan | $6,5201 |
| 254 | Ford Motor (U.K.) | U.K. | $6,508 |
| 255 | Air Canada | Canada | $6,482 |
| 256 | J.C. Penney | U.S. | $6,472 |
| 257 | Prudential Staff | U.K. | $6,397 |
| 258 | Episcopal Church | U.S. | $6,389 |
| 259 | Georgia-Pacific | U.S. | $6,366 |
| 260 | Qubec Construction Industry | Canada | $6,363 |
| 261 | Northwest Airlines | U.S. | $6,331 |
| 262 | TRW | U.K. | $6,304 |
| 263 | Pensionskasse Hoechst | Germany | $6,287* |
| 264 | Civil Aviation Authority | U.K. | $6,271 |
| 265 | UMWA Health & Retirement | U.S. | $6,264 |
| 266 | Unilever | U.K. | $6,223 |
| 267 | Sygeplejersker | Denmark | $6,184 |
| 268 | Invensys | U.K. | $6,182 |
| 269 | New Mexico Educational | U.S. | $6,173 |
| 270 | National Rural Electric | U.S. | $6,141 |
| 271 | Siemens (U.S.) | U.S. | $6,136 |
| 272 | Hitachi | Japan | $6,1221 |
| 273 | Oklahoma Teachers | U.S. | $6,104 |
| 274 | Indiana Teachers | U.S. | $6,091 |
| 275 | Aetna | U.S. | $6,065 |
| 276 | Eli Lilly | U.S. | $6,045 |
| 277 | Unisys | U.S. | $6,039 |
| 278 | Sumitomo Mitsui Financial Group | Japan | $6,0341 |
| 279 | Bristol-Myers Squibb | U.S. | $5,983 |
| 280 | NEC | Japan | $5,9741 |
| 281 | AFP Santa Maria | Chile | $5,969 |
| 282 | 1199 Health Care Employees | U.S. | $5,953 |
| 283 | Bank One | U.S. | $5,933 |
| 284 | Wal-Mart Stores | U.S. | $5,865 |
| 285 | Laegernes Pensionskasse | Denmark | $5,8602 |
| 286 | Louisiana State Employees | U.S. | $5,843 |
| 287 | Allstate Insurance | U.S. | $5,814 |
| 288 | I.A.M. National | U.S. | $5,813 |
| 289 | Merck | U.S. | $5,810 |
| 290 | London Regional Transport | U.K. | $5,7623 |
| 291 | Fujitsu | Japan | $5,7511 |
| 292 | IBM U.K. | U.K. | $5,743 |
| 293 | Nebraska Investment Council | U.S. | $5,728 |
| 294 | Bernische Pensionskasse | Switzerland | $5,715 |
| 295 | Pensionskasse des Basler | Switzerland | $5,715 |
| 296 | Rhode Island Employees | U.S. | $5,688 |
| 297 | N.Y. State Def. Comp. | U.S. | $5,663 |
| 298 | Los Angeles Water & Power | U.S. | $5,651 |
| 299 | PepsiCo | U.S. | $5,636 |
| 300 | Montana Board of Investments | U.S. | $5,629 |
U.S. fund data from the P&I 1,000, published Jan. 26; all other fund data as of Dec. 31, unless noted. 1As of March 31, 2003; 2As of June 30, 2003; 3As of March 31; 4As of Aug. 31, 2003; 5As of May 30; 6As of Feb. 29; 7As of Nov. 30; *Estimate