Pennsylvania › Retail trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Pension Plan-Amalgamated Meat Cutters & Retail Food Store Local 342
Sponsored by BD of Trustees of Pension Fund Amal Meat Cutters, Philadelphia, PA
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 Dec 2025, Pension Plan-Amalgamated Meat Cutters & Retail Food Store Local 342 covered 2,511 participants and held $1.1M in net assets. The plan is a defined benefit pension plan sponsored by BD of Trustees of Pension Fund Amal Meat Cutters of Philadelphia, Pennsylvania. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $410 per participant in plan year 2024, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $30,870 median for defined benefit plans in retail trade. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $291K: $116 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $322K. 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 $92.0M in 2009 to $1.1M in 2025 (down 99%), and participants from 4,462 to 2,511 (down 44%).
The independent accountant's opinion on the financial statements was qualified.
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $410 | $87,935 | $30,870 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $2,829 | $10,244 |
| Schedule C compensation per participant | $113 | $325 | $165 | $344 |
| Schedule C compensation, share of net assets | 27.5% | 0.41% | 0.59% | 0.42% |
| Administrative expenses per participant | $128 | $513 | $310 | $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), retail trade (132) 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 |
|---|---|---|---|---|---|---|
| 2025 | 2,511 | $1.1M | $440 | — | — | $291K |
| 2024 | 2,624 | $1.1M | $410 | — | — | $296K |
| 2023 | 2,821 | $1.2M | $434 | — | — | $399K |
| 2022 | 2,913 | $1.4M | $483 | — | — | $967K |
| 2021 | 3,055 | $10.2M | $3,325 | — | — | $1.1M |
| 2020 | 3,227 | $20.7M | $6,425 | — | — | $1.2M |
| 2019 | 3,351 | $30.6M | $9,134 | — | — | $1.1M |
| 2018 | 3,468 | $38.5M | $11,106 | — | — | $1.1M |
| 2017 | 3,562 | $52.1M | $14,638 | — | — | $1.1M |
| 2016 | 3,743 | $59.5M | $15,906 | — | — | $1.2M |
| 2015 | 3,743 | $70.9M | $18,948 | — | — | $1.4M |
| 2014 | 3,840 | $82.1M | $21,383 | — | — | $2.1M |
| 2013 | 3,937 | $74.1M | $18,811 | — | — | $2.4M |
| 2012 | 4,061 | $78.9M | $19,431 | — | — | $2.6M |
| 2011 | 4,200 | $85.0M | $20,231 | $17K | — | $2.3M |
| 2010 | 4,312 | $94.6M | $21,933 | $207K | — | $2.4M |
| 2009 | 4,462 | $92.0M | $20,614 | $131K | — | $2.6M |
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$1,075,925
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions$2,375,436
- Total contributions$2,375,436
- Total income, including investment results$9,328,671
- Benefits paid$8,976,358
- Administrative expenses$322,257
- Total expenses$9,298,615
- Net income$30,056
- Net transfers$0
- Net assets, end of year$1,105,981
Participants
- Active participants0
- Retired or separated, receiving benefits1,584
- Retired or separated, entitled to future benefits612
- Total participants, end of year2,511
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| CBIZ Retirement Plan Services | — | $252,628 | $0 |
| Novak Francella LLC | — | $24,162 | $0 |
| PNC Bank | Custodial (securities) | $7,377 | $0 |
| Cohen Weiss & Simon LLP | Legal | $7,300 | $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$231,503
- IQPA audit fees$24,000
- Trustee and custodial fees$22,095
- Actuarial fees$21,125
- Other administrative expenses$14,420
- Legal fees$7,300
- Salaries and allowances$1,652
- Recordkeeping fees$162
- Total administrative expenses$322,257
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.
- Cash (interest and non-interest bearing)$1.1M · 97.5%
- Other investments$22K · 1.9%
- Receivables$6,937 · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionQualified
- 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, $500,000
- 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)1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 445110: Supermarkets and Other Grocery (except Convenience) Stores.
Similar plans in Pennsylvania
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| UFCW 360 Shop Rite Pension Fund | UFCW 360 Shop Rite Pension Fund | 4,199 | $32.7M | $7,792 |
| United Food & Commercial Workers Pension Fund of Northeastern Pennsylvania | United Food & Commercial Workers Pension FD NE PA | 1,352 | $1.0M | $741 |
| UFCW Local 1776 & Participating Employers Pension Fund | UFCW Local 1776 & Participating Employers Pension Fund | 5,580 | $81.3M | $14,575 |
| UFCW Local 174 Commercial Pension Fund | Board of Trustees-Ufcw Local 174 Commercial Pension | 1,228 | $390K | $317 |
| The Rite Aid Pension Plan | Rite Aid Corporation | 5,976 | $117M | $19,650 |
| Woltz & Wind Ford, Inc. and Washington Ford, Inc. Retirement Plan | Woltz & Wind Ford, Inc. | 321 | $11.5M | $35,870 |
Defined benefit plans in retail trade closest in size.
Questions and answers
How big is Pension Plan-Amalgamated Meat Cutters & Retail Food Store Local 342?
2,511 participants at the end of the plan year ending 31 Dec 2025, of whom 0 were active employees, with net assets of $1,105,981. 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 BD of Trustees of Pension Fund Amal Meat Cutters contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $291,467 in compensation to service provider organisations, $116 per participant or 26.4% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $322,257. 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 BD of Trustees of Pension Fund Amal Meat Cutters. Trustee or custodian: PNC Bank. 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 qualified opinion. The accountant's report attached to the filing at EFAST2 explains the basis for the opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 14 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 11-1896845, plan 001, received 14 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.