Arizona › Mining › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Dec 2024 to 30 Nov 2025
Freeport Minerals Corporation Retirement Plan
Sponsored by Freeport Minerals Corporation, Phoenix, AZ
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 30 Nov 2025, Freeport Minerals Corporation Retirement Plan covered 14,934 participants and held $1.41B in net assets. The plan is a defined benefit pension plan sponsored by Freeport Minerals Corporation of Phoenix, Arizona.
Net assets came to $94,639 per participant, above the $87,332 median for defined benefit plans with 5,000 to 24,999 participants and above the $88,784 median for defined benefit plans in mining. 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 $45.0M for the year ($21,531 per active participant) and benefits paid were $114M. 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 11 service provider organisations paid $5,000 or more, with reported compensation of $5.4M: $361 per participant, well above the same-size median of $233. Administrative expenses charged to the plan were $17.6M. 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 $1.04B in 2009 to $1.41B in 2024 (up 36%), and participants from 24,877 to 14,934 (down 40%).
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 | $94,639 | $87,332 | $88,784 | $86,073 |
| Employer contributions per active participant | $21,531 | $9,482 | $14,286 | $10,170 |
| Schedule C compensation per participant | $361 | $233 | $395 | $344 |
| Schedule C compensation, share of net assets | 0.38% | 0.30% | 0.44% | 0.43% |
| Administrative expenses per participant | $1,177 | $397 | $595 | $526 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (660 plans), mining (81) and all US plans (5,366). 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 | 14,934 | $1.41B | $94,639 | $45.0M | — | $5.4M |
| 2023 | 15,481 | $1.44B | $93,155 | $60.0M | — | $5.9M |
| 2022 | 15,922 | $1.39B | $87,344 | $60.0M | — | $6.6M |
| 2021 | 16,134 | $1.45B | $89,882 | $46.9M | — | $7.0M |
| 2020 | 16,485 | $2.01B | $121,849 | $88.9M | — | $7.4M |
| 2019 | 16,889 | $1.83B | $108,399 | $81.4M | — | $5.9M |
| 2017 | 17,528 | $1.40B | $79,797 | $63.4M | — | $6.2M |
| 2016 | 17,825 | $1.50B | $84,273 | $78.1M | — | $5.8M |
| 2015 | 21,774 | $1.36B | $62,478 | $74.3M | — | $6.2M |
| 2014 | 23,492 | $1.38B | $58,626 | $36.3M | — | $6.1M |
| 2013 | 23,385 | $1.41B | $60,308 | $54.8M | — | $5.4M |
| 2012 | 23,629 | $1.29B | $54,529 | — | — | $5.4M |
| 2011 | 23,912 | $1.26B | $52,783 | $52.7M | — | $5.0M |
| 2010 | 24,269 | $1.15B | $47,578 | $81.4M | — | $4.8M |
| 2009 | 24,877 | $1.04B | $41,926 | $8.5M | — | $4.4M |
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$1,442,131,234
- Employer contributions$45,000,000
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$45,000,000
- Total income, including investment results$102,567,157
- Benefits paid$113,779,665
- Administrative expenses$17,573,055
- Total expenses$131,352,720
- Net income−$28,785,563
- Net transfers$0
- Net assets, end of year$1,413,345,671
Participants
- Active participants2,090
- Retired or separated, receiving benefits8,613
- Retired or separated, entitled to future benefits2,036
- Total participants, end of year14,934
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson | Plan Administrator | $2,053,871 | $0 |
| Meketa Investment Group, Inc. | Investment management | $834,318 | $0 |
| MetLife Investment Management | Contract Administrator; Plan Administrator; Investment management | $602,927 | $0 |
| Nisa Investment Advisors, L.L.C. | Investment management | $594,318 | $0 |
| Northern Trust Company | Contract Administrator; Investment management | $492,571 | $0 |
| Dodge & Cox | Investment management | $273,907 | $0 |
| Income Research and Management Inc. | Investment management | $258,976 | $0 |
| Mercer (U.S.) Inc. | Actuarial; Consulting (pension) | $185,265 | $0 |
| CliftonLarsonAllen LLP | Accounting (including auditing) | $53,148 | $0 |
| J.p.morgan Investment Management in | Trustee (discretionary); Investment advisory (plan); Investment management | $32,056 | $0 |
| Snell & Wilmer LLP | Investment management; Legal | $7,834 | $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
- Other administrative expenses$12,183,864
- Investment advisory and management fees$2,596,502
- Recordkeeping fees$2,053,871
- Trustee and custodial fees$492,571
- Actuarial fees$185,265
- IQPA audit fees$53,148
- Legal fees$7,834
- Total administrative expenses$17,573,055
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.
- Master trust investment accounts$1.38B · 97.9%
- Receivables$30.0M · 2.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCliftonLarsonAllen LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $30,000,000
- 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
1ABenefits are primarily pay related1IFrozen plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 212200: Metal Ore Mining.
Other plans of Freeport Minerals Corporation
| Plan | Participants | Net assets |
|---|---|---|
| Freeport-McMoran Pension Plan | 2,455 | $37.1M |
Similar plans in Arizona
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Retirement Income Plan for Hourly-Rated Employees of Asarco LLC | Asarco LLC | 6,000 | $223M | $37,140 |
| Retirement Benefit Plan for Salaried Employees of Asarco LLC | Asarco LLC | 2,626 | $139M | $52,951 |
| Freeport-McMoran Pension Plan | Freeport Minerals Corporation | 2,455 | $37.1M | $15,127 |
| NMC Retirement Plan | BHP New Mexico Coal Inc. | 180 | $27.0M | $149,856 |
| Retirement Benefit Plan for Salaried Employees of Southern Copper Corporation | Southern Copper Corporation | 146 | $8.5M | $58,408 |
Defined benefit plans in mining closest in size.
Questions and answers
How big is Freeport Minerals Corporation Retirement Plan?
14,934 participants at the end of the plan year ending 30 Nov 2025, of whom 2,090 were active employees, with net assets of $1,413,345,671. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 660 plans in plan year 2024.
What does Freeport Minerals Corporation contribute per participant?
The filing reports $45,000,000 in employer contributions for the year, which is $21,531 per active participant; the median for plans of the same type and size was $9,482 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 $5,389,191 in compensation to service provider organisations, $361 per participant or 0.38% of net assets. The same-size median among plans reporting any Schedule C compensation was $233 per participant. Administrative expenses on Schedule H were $17,573,055. 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 Freeport Minerals Corporation. Recordkeeping or administration: Willis Towers Watson, MetLife Investment Management and Northern Trust Company. Investment advisory or management: Meketa Investment Group, Inc., MetLife Investment Management and Nisa Investment Advisors, L.L.C.. Trustee or custodian: J.p.morgan Investment Management in. The financial statements were audited by CliftonLarsonAllen 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 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 Dec 2024 to 30 Nov 2025, received by the Department of Labor on 11 Sep 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 Sep 2026. This page shows the latest filing on record for EIN 13-1808503, plan 003, received 11 Sep 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.