New York › Transportation and warehousing › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Local 295 I.B.T. Employer Group Pension Trust Fund
Sponsored by Trustees of Local 295 I.B.T. Employer Group Pension Trust Fund, New York, 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 295 I.B.T. Employer Group Pension Trust Fund is a defined benefit pension plan sponsored by Trustees of Local 295 I.B.T. Employer Group Pension Trust Fund of New York, New York. For the plan year ending 30 Jun 2025 it reported 5,521 participants, 1,494 of them active, and net assets of $640M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $115,904 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $20.6M for the year ($13,806 per active participant) and benefits paid were $43.6M. 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 $1.9M: $346 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $2.4M. 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 $388M in 2009 to $640M in 2024 (up 65%), and participants from 5,110 to 5,521 (up 8%).
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 | $115,904 | $87,623 | $94,853 | $86,221 |
| Employer contributions per active participant | $13,806 | $9,468 | $12,821 | $10,244 |
| Schedule C compensation per participant | $346 | $232 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.30% | 0.30% | 0.43% | 0.42% |
| Administrative expenses per participant | $438 | $396 | $650 | $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), transportation and warehousing (227) 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 | 5,521 | $640M | $115,904 | $20.6M | — | $1.9M |
| 2023 | 5,541 | $615M | $110,957 | $21.1M | — | $1.9M |
| 2022 | 5,573 | $568M | $101,921 | $20.7M | — | $2.1M |
| 2021 | 5,551 | $550M | $99,018 | $19.0M | — | $2.1M |
| 2020 | 5,386 | $631M | $117,184 | $16.9M | — | $2.2M |
| 2019 | 5,358 | $517M | $96,496 | $15.1M | — | $2.1M |
| 2018 | 5,393 | $518M | $96,118 | $13.8M | — | $2.2M |
| 2017 | 5,300 | $516M | $97,452 | $12.4M | — | $2.0M |
| 2016 | 5,238 | $488M | $93,144 | $15.3M | — | $1.9M |
| 2015 | 5,085 | $455M | $89,400 | $9.8M | — | $1.9M |
| 2014 | 5,046 | $488M | $96,729 | $9.9M | — | $2.2M |
| 2013 | 5,062 | $492M | $97,292 | $8.4M | — | $2.0M |
| 2012 | 5,080 | $443M | $87,148 | $7.6M | — | $2.2M |
| 2011 | 5,108 | $417M | $81,688 | $7.5M | — | $2.5M |
| 2010 | 5,141 | $444M | $86,274 | $6.4M | — | $2.4M |
| 2009 | 5,110 | $388M | $75,932 | $5.3M | — | $2.4M |
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$614,810,227
- Employer contributions$20,625,445
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$20,625,445
- Total income, including investment results$71,119,007
- Benefits paid$43,609,860
- Administrative expenses$2,415,800
- Total expenses$46,025,660
- Net income$25,093,347
- Net transfers$0
- Net assets, end of year$639,903,574
Participants
- Active participants1,494
- Retired or separated, receiving benefits2,298
- Retired or separated, entitled to future benefits1,402
- Total participants, end of year5,521
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Savasta and Company, Inc. | Actuarial; Contract Administrator | $533,781 | $0 |
| Columbia Management Investment Adv. | Investment management | $331,172 | $0 |
| Jennison Associates | Investment management | $246,771 | $0 |
| Stacey Braun Associates, Inc. | Investment management | $219,996 | $0 |
| Quan-Vest Consultants, Inc. | Investment advisory (plan) | $105,000 | $0 |
| Horizon Actuarial Services, LLC | Actuarial | $102,753 | $0 |
| Western Asset Management | Investment management | $92,475 | $0 |
| Morgan, Lewis & Bockius, LLP | Legal | $89,060 | $0 |
| Calibre CPA Group, PLLC | Accounting (including auditing) | $54,712 | $0 |
| US Bank, NA | Direct payment from the plan | $42,158 | $0 |
| Pitta, LLP | Legal | $34,740 | $0 |
| Washington Capital Management, Inc. | Investment management | $33,183 | $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
- Investment advisory and management fees$1,150,575
- Contract administrator fees$518,781
- Other administrative expenses$398,396
- Legal fees$123,800
- Actuarial fees$117,753
- IQPA audit fees$54,712
- Trustee and custodial fees$42,207
- Recordkeeping fees$9,576
- Total administrative expenses$2,415,800
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)$307M · 48.0%
- Corporate stocks$87.9M · 13.7%
- U.S. Government securities$78.2M · 12.2%
- Other investments$72.5M · 11.3%
- Common/collective trusts$47.5M · 7.4%
- Pooled separate accounts$16.4M · 2.6%
- Cash (interest and non-interest bearing)$14.6M · 2.3%
- 103-12 investment entities$8.2M · 1.3%
- Corporate debt instruments$5.0M · 0.8%
- Receivables$2.8M · 0.4%
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, $500,000
- 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 484110: General Freight Trucking, Local.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Local 282 Pension Trust Fund | Board of Trustees of Local 282 | 7,375 | $1.35B | $183,358 |
| Local 91 Pension Fund | Local 91 Pension Fund Board of Trustees | 4,797 | $206M | $43,011 |
| Teamsters Local 210 Affiliated Pension Trust Fund | Board of Trustees Teamsters Local 210 Affiliated Pension Trust Fund | 7,579 | $155M | $20,393 |
| Road Carriers Local 707 Pension Fund | Board of Trustees of the Road Carriers Local 707 Pension Fund | 3,554 | $663M | $186,517 |
| Division 1181 Atu - NY Employees Pension Fund and Plan | Board of Trustees of Division 1181 Atu - NY Employess Pension Fund and | 14,070 | $824M | $58,574 |
| Local 807 Labor Management Pension Fund | Board of Trustees Local 807 Labor- Management Pension Fund | 3,513 | $116M | $32,903 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Local 295 I.B.T. Employer Group Pension Trust Fund?
5,521 participants at the end of the plan year ending 30 Jun 2025, of whom 1,494 were active employees, with net assets of $639,903,574. 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 Trustees of Local 295 I.B.T. Employer Group Pension Trust Fund contribute per participant?
The filing reports $20,625,445 in employer contributions for the year, which is $13,806 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 $1,908,215 in compensation to service provider organisations, $346 per participant or 0.30% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $2,415,800. 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 Trustees of Local 295 I.B.T. Employer Group Pension Trust Fund. Recordkeeping or administration: Savasta and Company, Inc.. Investment advisory or management: Columbia Management Investment Adv., Jennison Associates and Stacey Braun Associates, Inc.. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 9 Apr 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 11-6172155, plan 001, received 9 Apr 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.