Connecticut › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
International Brotherhood of Electrical Workers Local Union No. 99 Retirement Plan
Sponsored by Board of Trustees IBEW Local Union No. 99 Retirement Plan, Wallingford, CT
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.
Board of Trustees IBEW Local Union No. 99 Retirement Plan of Wallingford, Connecticut sponsors International Brotherhood of Electrical Workers Local Union No. 99 Retirement Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 May 2025 shows 1,595 participants (804 active) and $109M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $68,592 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $100,593 median for defined benefit plans in construction. 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 $7.9M for the year ($9,888 per active participant) and benefits paid were $4.8M. 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 14 service provider organisations paid $5,000 or more, with reported compensation of $767K: $481 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.2M. 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 $38.1M in 2009 to $109M in 2024 (up 187%), and participants from 1,308 to 1,595 (up 22%).
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 | $68,592 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $9,888 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $481 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.70% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $739 | $513 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), construction (655) 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 | 1,595 | $109M | $68,592 | $8.0M | — | $767K |
| 2023 | 1,513 | $101M | $66,814 | $7.1M | — | $687K |
| 2022 | 1,456 | $88.7M | $60,931 | $6.1M | — | $810K |
| 2021 | 1,394 | $90.3M | $64,753 | $4.7M | — | $906K |
| 2020 | 1,379 | $90.8M | $65,871 | $4.8M | — | $626K |
| 2019 | 1,363 | $70.6M | $51,800 | $5.0M | — | $613K |
| 2018 | 1,341 | $69.4M | $51,745 | $4.6M | — | $622K |
| 2017 | 1,322 | $69.5M | $52,570 | $4.3M | — | $574K |
| 2016 | 1,277 | $64.9M | $50,853 | $4.0M | — | $545K |
| 2015 | 1,244 | $59.5M | $47,851 | $3.4M | — | $509K |
| 2014 | 1,228 | $60.2M | $49,026 | $3.2M | — | $507K |
| 2013 | 1,252 | $57.5M | $45,910 | $3.2M | — | $447K |
| 2012 | 1,268 | $51.7M | $40,809 | $3.0M | — | $454K |
| 2011 | 1,305 | $45.1M | $34,569 | $3.3M | — | $439K |
| 2010 | 1,301 | $45.7M | $35,093 | $3.5M | — | $426K |
| 2009 | 1,308 | $38.1M | $29,124 | $3.2M | — | $608K |
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$101,090,353
- Employer contributions$7,949,958
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$7,949,958
- Total income, including investment results$14,256,010
- Benefits paid$4,762,330
- Administrative expenses$1,179,037
- Total expenses$5,941,367
- Net income$8,314,643
- Net transfers$0
- Net assets, end of year$109,404,996
Participants
- Active participants804
- Retired or separated, receiving benefits341
- Retired or separated, entitled to future benefits345
- Total participants, end of year1,595
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Segal | Actuarial | $141,380 | $0 |
| Wedge Capital Management LLP | Investment management fees paid directly by plan; 'Soft dollars' commissions | $117,316 | $0 |
| Ward, Fisher and Company, LLP | Accounting (including auditing) | $94,925 | $0 |
| Rodio and Ursillo, Ltd. | Legal | $61,280 | $0 |
| Brandes Investment Partners LLC | Investment management fees paid directly by plan | $57,065 | $0 |
| BNY Mellon Investment Adviser, Inc. | Investment management | $49,540 | $0 |
| Zenith American Solutions | Plan Administrator | $48,500 | $0 |
| Grosvenor Capital Management, L.P. | Investment management | $43,079 | $0 |
| Segal Marco Advisors | Investment management fees paid directly by plan | $40,000 | $0 |
| Bank of America | Investment management | $32,765 | $0 |
| Invesco Trust Company | Investment management | $28,798 | $0 |
| Mesirow Financial Private Equity | Investment management | $25,294 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 2 smaller rows are not shown. 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
- Trustee and custodial fees$568,947
- Contract administrator fees$143,557
- Actuarial fees$141,380
- Other administrative expenses$128,948
- IQPA audit fees$94,925
- Legal fees$61,280
- Investment advisory and management fees$40,000
- Total administrative expenses$1,179,037
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 stocks$30.8M · 28.0%
- Registered investment companies (mutual funds)$22.9M · 20.8%
- Common/collective trusts$21.1M · 19.2%
- Partnership/joint venture interests$13.5M · 12.3%
- Pooled separate accounts$8.4M · 7.6%
- Other investments$6.7M · 6.1%
- Cash (interest and non-interest bearing)$5.3M · 4.8%
- Receivables$1.3M · 1.2%
- Real estate$236K · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWard, Fisher & Company
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in Connecticut
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Connecticut Plumbers & Pipefitters Pension Plan | Board of Trustees, CT Plumbers & Pipefitters Pension Fund | 3,090 | $304M | $98,252 |
| Iron Workers' Locals No. 15 & 424 Pension Plan | Board of Trustees-Iron Workers' Locals No. 15 & 424 | 1,425 | $87.9M | $61,676 |
| International Union of Operating Engineers Local Union No. 478, A-C-D-E Pension Plan | Board of Trustees I.U.O.E. Local 478 Pension Plan | 5,230 | $751M | $143,630 |
| I.B.E.W. Local Union No. 90 Pension Fund | Joint Board of Trustees I.B.E.W. Local 90 Pension Fund | 1,096 | $94.4M | $86,166 |
| Connecticut Laborers' Pension Plan | Connecticut Laborers' Pension Fund Board of Trustees | 7,019 | $600M | $85,451 |
| Southern CT IBEW Pension Plan | Board of Trustees-Southern CT IBEW Pension Fund | 1,007 | $57.8M | $57,402 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is International Brotherhood of Electrical Workers Local Union No. 99 Retirement Plan?
1,595 participants at the end of the plan year ending 31 May 2025, of whom 804 were active employees, with net assets of $109,404,996. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Board of Trustees IBEW Local Union No. 99 Retirement Plan contribute per participant?
The filing reports $7,949,958 in employer contributions for the year, which is $9,888 per active participant; the median for plans of the same type and size was $10,593 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 $767,304 in compensation to service provider organisations, $481 per participant or 0.70% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,179,037. 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 IBEW Local Union No. 99 Retirement Plan. Recordkeeping or administration: Zenith American Solutions. Investment advisory or management: BNY Mellon Investment Adviser, Inc., Grosvenor Capital Management, L.P. and Bank of America. The financial statements were audited by Ward, Fisher & Company. 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 16 Mar 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 05-6049538, plan 001, received 16 Mar 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.