Connecticut › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
International Union of Operating Engineers Local Union No. 478, A-C-D-E Pension Plan
Sponsored by Board of Trustees I.U.O.E. Local 478 Pension Plan, Hamden, 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 I.U.O.E. Local 478 Pension Plan of Hamden, Connecticut sponsors International Union of Operating Engineers Local Union No. 478, A-C-D-E Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 5,230 participants (2,487 active) and $751M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $143,630 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well above 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 $34.5M for the year ($13,867 per active participant) and benefits paid were $37.8M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $1.8M: $353 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $4.9M. 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 $344M in 2009 to $751M in 2024 (up 118%), and participants from 4,767 to 5,230 (up 10%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $143,630 | $87,623 | $100,593 | $86,221 |
| Employer contributions per active participant | $13,867 | $9,468 | $13,292 | $10,244 |
| Schedule C compensation per participant | $353 | $232 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.30% | 0.46% | 0.42% |
| Administrative expenses per participant | $941 | $396 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 5,230 | $751M | $143,630 | $34.5M | — | $1.8M |
| 2023 | 5,112 | $690M | $134,892 | $33.3M | — | $1.7M |
| 2022 | 5,048 | $624M | $123,557 | $30.6M | — | $1.8M |
| 2021 | 4,962 | $710M | $143,001 | $28.3M | — | $2.2M |
| 2020 | 5,012 | $640M | $127,643 | $28.3M | — | $3.0M |
| 2019 | 4,965 | $571M | $114,964 | $28.0M | — | $2.9M |
| 2018 | 4,955 | $494M | $99,621 | $26.3M | — | $2.7M |
| 2017 | 4,920 | $521M | $105,886 | $26.1M | — | $2.8M |
| 2016 | 4,886 | $457M | $93,535 | $24.7M | — | $2.6M |
| 2015 | 4,832 | $433M | $89,700 | $24.1M | — | $2.3M |
| 2014 | 4,727 | $443M | $93,640 | $5.0M | — | $552K |
| 2013 | 4,727 | $439M | $92,800 | $21.7M | — | $2.4M |
| 2012 | 4,685 | $410M | $87,465 | $20.4M | — | $2.4M |
| 2011 | 4,683 | $376M | $80,319 | $19.8M | — | $2.1M |
| 2010 | 4,722 | $329M | $69,712 | $18.1M | — | $2.6M |
| 2009 | 4,767 | $344M | $72,243 | $18.2M | — | $2.2M |
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$689,567,474
- Employer contributions$34,486,450
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$34,486,450
- Total income, including investment results$104,306,557
- Benefits paid$37,765,953
- Administrative expenses$4,923,323
- Total expenses$42,689,276
- Net income$61,617,281
- Net transfers$0
- Net assets, end of year$751,184,755
Participants
- Active participants2,487
- Retired or separated, receiving benefits1,569
- Retired or separated, entitled to future benefits600
- Total participants, end of year5,230
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Loomis Sayles Trust Company | Investment management | $337,334 | $0 |
| Acadian Asset Management LLC | Investment management | $252,603 | $0 |
| LSV Asset Management | Investment management | $251,922 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $148,803 | $0 |
| Mackay Shields LLC | Investment management | $142,021 | $0 |
| Columbia MGMT Inv Adv LLC | Investment management | $137,166 | $0 |
| Reid & Riege, P.C. | Legal | $120,947 | $0 |
| State Street Bank and Trust Company | Custodial (securities); Investment management | $115,786 | $0 |
| The Segal Company | Actuarial | $103,020 | $0 |
| BlackRock Inst'l Trust Co. NA | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $98,314 | $0 |
| Schultheis & Panettieri, LLP | Accounting (including auditing) | $77,144 | $0 |
| Zenith American Solutions Inc. | Recordkeeping and information management | $60,805 | $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
- Investment advisory and management fees$3,247,865
- Other administrative expenses$1,213,582
- Legal fees$120,745
- Trustee and custodial fees$115,786
- Actuarial fees$102,540
- IQPA audit fees$62,000
- Contract administrator fees$60,805
- Total administrative expenses$4,923,323
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$413M · 54.5%
- Partnership/joint venture interests$113M · 14.8%
- Corporate stocks$70.6M · 9.3%
- U.S. Government securities$51.3M · 6.8%
- 103-12 investment entities$34.6M · 4.6%
- Corporate debt instruments$27.4M · 3.6%
- Cash (interest and non-interest bearing)$24.8M · 3.3%
- Receivables$12.0M · 1.6%
- Registered investment companies (mutual funds)$11.7M · 1.5%
- Buildings and other property used in plan operation$367K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmSchultheis & Panettieri, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
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 237310: Highway, Street, & Bridge.
Similar plans in Connecticut
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Connecticut Laborers' Pension Plan | Connecticut Laborers' Pension Fund Board of Trustees | 7,019 | $600M | $85,451 |
| Connecticut Plumbers & Pipefitters Pension Plan | Board of Trustees, CT Plumbers & Pipefitters Pension Fund | 3,090 | $304M | $98,252 |
| International Brotherhood of Electrical Workers Local Union No. 99 Retirement Plan | Board of Trustees IBEW Local Union No. 99 Retirement Plan | 1,595 | $109M | $68,592 |
| Iron Workers' Locals No. 15 & 424 Pension Plan | Board of Trustees-Iron Workers' Locals No. 15 & 424 | 1,425 | $87.9M | $61,676 |
| 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 |
| 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 Union of Operating Engineers Local Union No. 478, A-C-D-E Pension Plan?
5,230 participants at the end of the plan year ending 31 Dec 2024, of whom 2,487 were active employees, with net assets of $751,184,755. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Board of Trustees I.U.O.E. Local 478 Pension Plan contribute per participant?
The filing reports $34,486,450 in employer contributions for the year, which is $13,867 per active participant; the median for plans of the same type and size was $9,468 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 $1,845,865 in compensation to service provider organisations, $353 per participant or 0.25% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $4,923,323. 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 I.U.O.E. Local 478 Pension Plan. Recordkeeping or administration: Zenith American Solutions Inc.. Investment advisory or management: Loomis Sayles Trust Company, Acadian Asset Management LLC and LSV Asset Management. Trustee or custodian: State Street Bank and Trust Company and BlackRock Inst'l Trust Co. NA. The financial statements were audited by Schultheis & Panettieri, LLP. 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 19 Sep 2025. 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 06-0733831, plan 001, received 19 Sep 2025; 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.