Massachusetts › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Apr 2025 to 31 Mar 2026
Boston Plasterers & Cement Masons Local 534 Deferred Income Plan
Sponsored by Board of Trustees BPCM Local 534 Deferred Income Fund, Boston, 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.
In the plan year ending 31 Mar 2026, Boston Plasterers & Cement Masons Local 534 Deferred Income Plan covered 432 participants and held $49.7M in net assets. The plan is a money purchase plan sponsored by Board of Trustees BPCM Local 534 Deferred Income Fund of Boston, Massachusetts. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $101,792 per participant in plan year 2024, well above the $48,746 median for defined contribution plans with 250 to 499 participants and above the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $2.1M during the year, or $8,798 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $2.8M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $79K: $184 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $410K. 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 $26.2M in 2013 to $49.7M in 2025 (up 89%), and participants from 337 to 432 (up 28%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $101,792 | $48,746 | $92,294 | $53,102 |
| Employer contributions per active participant | $9,010 | $2,017 | $3,564 | $2,175 |
| Schedule C compensation per participant | $233 | $141 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.23% | 0.30% | 0.17% | 0.26% |
| Administrative expenses per participant | $829 | $133 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), finance and insurance (4,391) and all US plans (63,460). 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 |
|---|---|---|---|---|---|---|
| 2025 | 432 | $49.7M | $114,944 | $2.1M | — | $79K |
| 2024 | 446 | $45.4M | $101,791 | $2.4M | — | $104K |
| 2023 | 453 | $44.4M | $97,947 | $2.5M | — | $130K |
| 2022 | 482 | $42.3M | $87,678 | $2.7M | — | $100K |
| 2021 | 527 | $42.9M | $81,455 | $2.6M | — | $144K |
| 2020 | 495 | $41.0M | $82,865 | $2.3M | — | $123K |
| 2019 | 492 | $32.1M | $65,165 | $2.5M | — | $104K |
| 2018 | 466 | $33.4M | $71,745 | $2.5M | — | $81K |
| 2017 | 418 | $31.0M | $74,136 | $2.0M | — | $94K |
| 2016 | 356 | $28.9M | $81,281 | $1.5M | — | $85K |
| 2015 | 351 | $26.7M | $75,986 | $1.4M | — | $89K |
| 2014 | 351 | $27.7M | $78,877 | $1.6M | — | $92K |
| 2013 | 337 | $26.2M | $77,813 | $1.5M | — | $121K |
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$45,399,339
- Employer contributions$2,137,811
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,137,811
- Total income, including investment results$7,511,002
- Benefits paid$2,843,543
- Administrative expenses$410,388
- Total expenses$3,253,931
- Net income$4,257,071
- Net transfers$0
- Net assets, end of year$49,656,410
Participants
- Active participants243
- Retired or separated, receiving benefits55
- Retired or separated, entitled to future benefits125
- Participants with account balances432
- Total participants, end of year432
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Boston Trust Walden Company | Investment management | $37,479 | $0 |
| New England Pension Consultants | Investment advisory (plan) | $25,000 | $0 |
| Krakow & Souris LLC | Legal | $9,375 | $0 |
| Anchor Capital Advisors | Investment management | $7,466 | $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
- Salaries and allowances$183,865
- Other administrative expenses$116,465
- Investment advisory and management fees$76,001
- IQPA audit fees$14,265
- Recordkeeping fees$10,417
- Legal fees$9,375
- Total administrative expenses$410,388
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.
- Common/collective trusts$17.5M · 35.3%
- Registered investment companies (mutual funds)$16.4M · 32.9%
- Corporate debt instruments$4.7M · 9.4%
- U.S. Government securities$4.0M · 8.1%
- Real estate$3.5M · 7.0%
- Corporate stocks$2.2M · 4.4%
- Cash (interest and non-interest bearing)$942K · 1.9%
- Receivables$324K · 0.7%
- Other investments$91K · 0.2%
- Participant loans$87K · 0.2%
- Buildings and other property used in plan operation$7,566 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmNovak Francella, LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $800,000
- Blackout period during the yearNo
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
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Metro Credit Union 401(k) Plan | Metro Credit Union | 434 | $38.9M | $89,673 |
| Peoplesbank 401(k) Plan | Peoplesbank | 429 | $68.9M | $160,527 |
| Workers Federal Credit Union 401(k) Retirement Plan | Workers Federal Credit Union | 437 | $48.9M | $111,929 |
| Aligned Equity Holdings 401(k) Plan | Bip Aligned Equity Holdings LLC | 428 | $11.9M | $27,809 |
| Sbera 401(k) Plan As Adopted by Bristol County Savings Bank | Bristol County Savings Bank | 438 | $67.3M | $153,661 |
| Ta Associates Profit Sharing Plan | Ta Associates Management L.P. | 427 | $653M | $1,529,751 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Boston Plasterers & Cement Masons Local 534 Deferred Income Plan?
432 participants at the end of the plan year ending 31 Mar 2026, of whom 243 were active employees, with net assets of $49,656,410. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Board of Trustees BPCM Local 534 Deferred Income Fund contribute per participant?
The filing reports $2,137,811 in employer contributions for the year, which is $8,798 per active participant; the median for plans of the same type and size was $2,017 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 $79,320 in compensation to service provider organisations, $184 per participant or 0.16% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $410,388. 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 Board of Trustees BPCM Local 534 Deferred Income Fund. Investment advisory or management: Boston Trust Walden Company, New England Pension Consultants and Anchor Capital Advisors. The financial statements were audited by Novak Francella, 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. 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 Apr 2025 to 31 Mar 2026, received by the Department of Labor on 14 Aug 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 04-6544055, plan 001, received 14 Aug 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.