New York › Wholesale trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Feb 2024 to 31 Jan 2025
Local 522 Pension Fund
Sponsored by Board of Trustees of Local 522 Pension Fund, Brooklyn, NY
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.
Local 522 Pension Fund is a defined benefit pension plan sponsored by Board of Trustees of Local 522 Pension Fund of Brooklyn, New York. For the plan year ending 31 Jan 2025 it reported 2,458 participants, 846 of them active, and net assets of $123M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $50,020 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and below the $61,809 median for defined benefit plans in wholesale trade. 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 $3.7M for the year ($4,424 per active participant) and benefits paid were $6.4M. 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 $635K: $259 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $780K. 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 $58.8M in 2009 to $123M in 2024 (up 109%), and participants from 1,903 to 2,458 (up 29%).
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 | $50,020 | $87,935 | $61,809 | $86,221 |
| Employer contributions per active participant | $4,424 | $10,593 | $8,409 | $10,244 |
| Schedule C compensation per participant | $259 | $325 | $346 | $344 |
| Schedule C compensation, share of net assets | 0.52% | 0.41% | 0.54% | 0.42% |
| Administrative expenses per participant | $317 | $513 | $540 | $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), wholesale trade (157) 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 | 2,458 | $123M | $50,020 | $3.7M | — | $635K |
| 2023 | 2,451 | $108M | $44,201 | $3.4M | — | $545K |
| 2022 | 2,403 | $100M | $41,749 | $3.3M | — | $524K |
| 2021 | 2,474 | $113M | $45,658 | $3.2M | — | $514K |
| 2020 | 2,323 | $103M | $44,382 | $3.0M | — | $453K |
| 2019 | 2,392 | $94.4M | $39,463 | $3.0M | — | $522K |
| 2018 | 2,235 | $85.6M | $38,298 | $2.7M | — | $468K |
| 2017 | 2,349 | $89.4M | $38,040 | $2.5M | — | $502K |
| 2016 | 2,164 | $79.5M | $36,718 | $2.5M | — | $458K |
| 2015 | 2,079 | $73.4M | $35,291 | $2.3M | — | $482K |
| 2014 | 2,106 | $76.7M | $36,418 | $2.2M | — | $478K |
| 2013 | 2,056 | $73.1M | $35,571 | $2.2M | — | $498K |
| 2012 | 1,998 | $66.9M | $33,495 | $2.0M | — | $668K |
| 2011 | 2,046 | $63.7M | $31,112 | $2.0M | — | $723K |
| 2010 | 2,211 | $64.4M | $29,119 | $2.0M | — | $621K |
| 2009 | 1,903 | $58.8M | $30,891 | $1.9M | — | $751K |
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$108,336,322
- Employer contributions$3,742,954
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$3,742,954
- Total income, including investment results$21,773,202
- Benefits paid$6,380,143
- Administrative expenses$779,517
- Total expenses$7,159,660
- Net income$14,613,542
- Net transfers$0
- Net assets, end of year$122,949,864
Participants
- Active participants846
- Retired or separated, receiving benefits638
- Retired or separated, entitled to future benefits800
- Total participants, end of year2,458
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| United Teamster Fund | Contract Administrator | $162,879 | $0 |
| Eagle Capital Management | Investment management | $129,082 | $0 |
| Calibre CPA Group, LLP | Accounting (including auditing) | $53,904 | $0 |
| Bridgeway Benefit Technologies | Recordkeeping and information management | $48,296 | $0 |
| Morgan Stanley Smith Barney, LLC | Investment advisory (plan) | $40,000 | $0 |
| Principal Custody Solutions | Custodial (securities) | $37,227 | $0 |
| Automatic Data Processing | Recordkeeping and information management | $31,649 | $0 |
| First Actuarial Consulting, LLC | Actuarial | $30,000 | $0 |
| Intercontinental Real Estate Corp. | Investment management | $28,197 | $0 |
| Pbi Research Services | Other services | $19,950 | $0 |
| Cary Kane, PLLC | Legal | $19,848 | $0 |
| Union Labor Life Insurance Company | Investment management | $14,753 | $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
- Other administrative expenses$233,496
- Investment advisory and management fees$226,669
- Contract administrator fees$162,879
- Trustee and custodial fees$37,227
- IQPA audit fees$32,650
- Actuarial fees$30,000
- Recordkeeping fees$21,254
- Legal fees$19,848
- Other trustee fees and expenses$15,494
- Total administrative expenses$779,517
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.
- Registered investment companies (mutual funds)$87.6M · 71.2%
- Corporate stocks$15.4M · 12.5%
- Cash (interest and non-interest bearing)$5.8M · 4.7%
- U.S. Government securities$5.7M · 4.6%
- Other investments$3.0M · 2.4%
- Pooled separate accounts$2.7M · 2.2%
- Real estate$1.9M · 1.5%
- Receivables$564K · 0.5%
- Corporate debt instruments$372K · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $100,000
- 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 423300: Lumber & Other Construction Materials.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Employees Security Fund of the Elec Ind Pension Plan | Joint Pension Comm of the Ees Sec Fund of the Elec Prod Ind | 6,883 | $153M | $22,266 |
| Oce Employees' Cash Accumulation Plan | Cusa Acquisition LLC | 2,260 | $157M | $69,356 |
| Teamsters Local 277 Pension | Teamsters Local 277 Pension Board of Trustees | 1,611 | $27.7M | $17,169 |
| Pernod Ricard USA, LLC Employees' Retirement Plan | Pernod Ricard USA, LLC | 1,590 | $229M | $144,320 |
| Suburban Wholesalers Association Pension Plan | Trustee of Suburban Wholesalers Association Pension Plan | 996 | $22.2M | $22,314 |
| LVMH Affiliates' Retirement Plan, Wines & Spirits | Moet Hennessy USA Inc. | 898 | $131M | $146,277 |
Defined benefit plans in wholesale trade closest in size.
Questions and answers
How big is Local 522 Pension Fund?
2,458 participants at the end of the plan year ending 31 Jan 2025, of whom 846 were active employees, with net assets of $122,949,864. 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 of Local 522 Pension Fund contribute per participant?
The filing reports $3,742,954 in employer contributions for the year, which is $4,424 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 $635,422 in compensation to service provider organisations, $259 per participant or 0.52% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $779,517. 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 of Local 522 Pension Fund. Recordkeeping or administration: United Teamster Fund, Bridgeway Benefit Technologies and Automatic Data Processing. Investment advisory or management: Eagle Capital Management, Morgan Stanley Smith Barney, LLC and Intercontinental Real Estate Corp.. Trustee or custodian: Principal Custody Solutions. The financial statements were audited by Calibre CPA Group, PLLC. 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 Feb 2024 to 31 Jan 2025, received by the Department of Labor on 10 Nov 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 11-6171611, plan 001, received 10 Nov 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.