Massachusetts › Manufacturing › 250 to 499 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Babcock Power Pension Plan
Sponsored by Babcock Power Inc., Danvers, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Babcock Power Pension Plan is a cash balance pension plan sponsored by Babcock Power Inc. of Danvers, Massachusetts. For the plan year ending 30 Sep 2025 it reported 336 participants, 11 of them active, and net assets of $26.4M.
Net assets came to $78,567 per participant, below the $87,254 median for defined benefit plans with 250 to 499 participants and above the $67,961 median for defined benefit plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Employer contributions were $1.1M for the year ($100,083 per active participant) and benefits paid were $8.0M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $444K: $1,320 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $1.5M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $55.7M in 2009 to $26.4M in 2024 (down 53%), and participants from 1,491 to 336 (down 77%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $78,567 | $87,254 | $67,961 | $86,221 |
| Employer contributions per active participant | $100,083 | $11,032 | $6,915 | $10,244 |
| Schedule C compensation per participant | $1,320 | $413 | $299 | $344 |
| Schedule C compensation, share of net assets | 1.7% | 0.51% | 0.47% | 0.42% |
| Administrative expenses per participant | $4,529 | $596 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), manufacturing (1,532) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 336 | $26.4M | $78,568 | $1.1M | $0 | $444K |
| 2023 | 563 | $34.3M | $60,915 | $72K | $0 | $207K |
| 2022 | 579 | $32.8M | $56,677 | $1.9M | $0 | $264K |
| 2021 | 590 | $33.3M | $56,508 | $74K | — | $185K |
| 2020 | 598 | $44.7M | $74,687 | $2.1M | — | $336K |
| 2019 | 867 | $58.5M | $67,464 | $4.4M | — | $252K |
| 2018 | 887 | $53.2M | $59,945 | $4.7M | — | $308K |
| 2017 | 1,050 | $47.8M | $45,562 | $1.7M | — | $272K |
| 2016 | 1,073 | $51.7M | $48,144 | $1.5M | — | $267K |
| 2015 | 1,110 | $54.2M | $48,835 | $3.0M | — | $570K |
| 2014 | 1,136 | $50.1M | $44,138 | — | — | $306K |
| 2013 | 1,409 | $57.5M | $40,819 | — | — | $290K |
| 2012 | 1,431 | $54.2M | $37,856 | — | — | $204K |
| 2011 | 1,453 | $62.5M | $42,992 | — | — | $169K |
| 2010 | 1,478 | $58.5M | $39,601 | — | — | $189K |
| 2009 | 1,491 | $55.7M | $37,390 | — | — | $144K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$34,294,532
- Employer contributions$1,100,910
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$1,100,910
- Total income, including investment results$1,664,348
- Benefits paid$8,038,376
- Administrative expenses$1,521,854
- Total expenses$9,560,230
- Net income−$7,895,882
- Net transfers$0
- Net assets, end of year$26,398,650
Participants
- Active participants11
- Retired or separated, receiving benefits192
- Retired or separated, entitled to future benefits89
- Total participants, end of year336
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Merrill Lynch Retirement Services | Actuarial; Claims processing; Recordkeeping and information management; Participant communication | $237,641 | $0 |
| McCarter & English, LLP | Legal | $117,459 | $0 |
| Bank of America | Custodial (securities); Trustee (bank, trust company, or similar financial institution); Investment management | $88,516 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$907,779
- Other administrative expenses$339,565
- Legal fees$174,894
- Trustee and custodial fees$81,116
- IQPA audit fees$18,500
- Total administrative expenses$1,521,854
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Corporate debt instruments$25.1M · 91.1%
- Receivables$1.4M · 5.1%
- U.S. Government securities$557K · 2.0%
- Cash (interest and non-interest bearing)$482K · 1.7%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBaker Newman & Noyes LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar plan1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 333900: Other General Purpose Machinery Mfg.
Other plans of Babcock Power Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Babcock Power Savings Plan | 1,877 | $225M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Hollingsworth & Vose Company Collectively Bargained Pension Plan | Hollingsworth & Vose Company | 398 | $36.2M | $90,893 |
| Sappi North America, Inc. Cumberland Mills Hourly Employees' Retirement Plan | Sappi North America, Inc. | 335 | $41.1M | $122,671 |
| Hollingsworth & Vose Company Retirement Plan | Hollingsworth & Vose Company | 461 | $69.5M | $150,782 |
| Rand-Whitney Retirement Plan for Members of Bargaining Units | Rand-Whitney Group, LLC | 310 | $5.2M | $16,823 |
| Sappi North America, Inc. Retirement Plan for Salaried Employees | Sappi North America, Inc. | 603 | $85.4M | $141,570 |
| National Nonwovens Inc. Retirement Plan | National Nonwovens Inc. | 246 | $2.0M | $8,258 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Babcock Power Pension Plan?
336 participants at the end of the plan year ending 30 Sep 2025, of whom 11 were active employees, with net assets of $26,398,650. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Babcock Power Inc. contribute per participant?
The filing reports $1,100,910 in employer contributions for the year, which is $100,083 per active participant; the median for plans of the same type and size was $11,032 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $443,616 in compensation to service provider organisations, $1,320 per participant or 1.7% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $1,521,854. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Babcock Power Inc.. Recordkeeping or administration: Merrill Lynch Retirement Services. Investment advisory or management: Bank of America. Trustee or custodian: Bank of America. The financial statements were audited by Baker Newman & Noyes LLC. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 15 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-3719625, plan 001, received 15 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.