New York › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Local 475 Pension Plan
Sponsored by Board of Trustees Local 475 Pension Plan, Pelham, 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.
In the plan year ending 31 Dec 2025, Local 475 Pension Plan covered 1,438 participants and held $95.5M in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees Local 475 Pension Plan of Pelham, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $59,082 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 $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 $1.1M for the year ($3,623 per active participant) and benefits paid were $6.3M. 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 10 service provider organisations paid $5,000 or more, with reported compensation of $543K: $377 per participant, above the same-size median of $325. Administrative expenses charged to the plan were $828K. 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 $71.4M in 2009 to $95.5M in 2025 (up 34%), and participants from 2,017 to 1,438 (down 29%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $59,082 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $3,769 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $367 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.62% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $597 | $513 | $596 | $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), 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 |
|---|---|---|---|---|---|---|
| 2025 | 1,438 | $95.5M | $66,379 | $1.1M | — | $543K |
| 2024 | 1,489 | $88.0M | $59,082 | $1.2M | — | $546K |
| 2023 | 1,509 | $82.9M | $54,955 | $1.1M | — | $572K |
| 2022 | 1,526 | $78.0M | $51,103 | $951K | — | $570K |
| 2021 | 1,542 | $97.5M | $63,230 | — | $865K | $462K |
| 2020 | 1,586 | $89.5M | $56,440 | $928K | — | $515K |
| 2019 | 1,574 | $84.5M | $53,675 | $858K | — | $515K |
| 2018 | 1,572 | $76.0M | $48,337 | $751K | — | $543K |
| 2017 | 1,600 | $82.9M | $51,793 | $787K | — | $542K |
| 2016 | 1,617 | $76.9M | $47,556 | $717K | — | $464K |
| 2015 | 1,649 | $76.7M | $46,519 | $660K | — | $508K |
| 2014 | 1,696 | $82.1M | $48,416 | $713K | — | $510K |
| 2013 | 1,754 | $82.4M | $46,993 | $825K | — | $533K |
| 2012 | 1,780 | $73.6M | $41,350 | $825K | — | $490K |
| 2011 | 1,824 | $70.5M | $38,626 | $788K | — | $433K |
| 2010 | 1,917 | $76.3M | $39,802 | $1.1M | — | $499K |
| 2009 | 2,017 | $71.4M | $35,392 | $1.0M | — | $433K |
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$87,973,111
- Employer contributions$1,068,769
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,068,769
- Total income, including investment results$14,649,995
- Benefits paid$6,341,993
- Administrative expenses$827,931
- Total expenses$7,169,924
- Net income$7,480,071
- Net transfers$0
- Net assets, end of year$95,453,182
Participants
- Active participants295
- Retired or separated, receiving benefits662
- Retired or separated, entitled to future benefits366
- Total participants, end of year1,438
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Ceres Partners LLC | Investment management | $162,990 | $0 |
| Carret Asset Management | Investment management | $94,319 | $0 |
| Basil Castrovinci Associates, Inc. | Consulting (pension) | $54,041 | $0 |
| Rreef America Reit II, Inc. | Investment management | $52,793 | $0 |
| Dahab Associates, Inc. | Investment advisory (plan) | $50,350 | $0 |
| Citrin Cooperman & Company, LLP | Accounting (including auditing) | $34,412 | $0 |
| Barnes, Iaccarino & Shepherd LLP | Legal | $31,415 | $0 |
| Johnson Institutional Management | Investment management | $23,460 | $0 |
| Wilmington Trust | Investment management fees paid indirectly by plan; Direct payment from the plan | $23,370 | $0 |
| UBS Farmland Investors LLC | Investment management | $15,429 | $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
- Trustee and custodial fees$254,582
- Other administrative expenses$185,266
- Investment advisory and management fees$168,129
- Salaries and allowances$100,086
- Actuarial fees$54,041
- IQPA audit fees$34,412
- Legal fees$31,415
- Total administrative expenses$827,931
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)$37.5M · 39.3%
- Corporate stocks$19.6M · 20.5%
- Common/collective trusts$13.5M · 14.1%
- Partnership/joint venture interests$7.7M · 8.0%
- Real estate$5.6M · 5.9%
- U.S. Government securities$5.1M · 5.4%
- Corporate debt instruments$4.3M · 4.5%
- Cash (interest and non-interest bearing)$1.5M · 1.6%
- Receivables$608K · 0.6%
- Other investments$34K · 0.0%
- Participant loans$11K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCitrin Cooperman & Company, LLP
- 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
1ABenefits are primarily pay related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Bricklayers & Allied Craftworkers, Loc 2, Albany NY Pension Fund | Bot Bricklayers & Allied Craftworkers,l 2, Albany,ny Pens FD | 1,447 | $128M | $88,207 |
| Pension Plan of the IUOE Local 137 137A 137B 137C 137R, AFL-CIO | BD of Trustees Pension Plan of the IUOE 137 137A 137B 137C 137R Aflcio | 1,436 | $296M | $205,861 |
| United Association Local 7 Pension Plan | United Association Local 7 Pension Plan | 1,498 | $281M | $187,351 |
| Laborers' Local No. 17 Pension Fund | Laborers' International Union of N.A. Local No. 17 Pension Fund | 1,432 | $142M | $99,052 |
| IBEW Local Union 363 Pension | IBEW Lu 363 Pension | 1,621 | $157M | $96,975 |
| U.A. Local 13 Pension Fund | United Associated Pension Fund Local 13 | 1,417 | $373M | $263,314 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Local 475 Pension Plan?
1,438 participants at the end of the plan year ending 31 Dec 2025, of whom 295 were active employees, with net assets of $95,453,182. 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 Local 475 Pension Plan contribute per participant?
The filing reports $1,068,769 in employer contributions for the year, which is $3,623 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 $542,579 in compensation to service provider organisations, $377 per participant or 0.57% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $827,931. 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 Local 475 Pension Plan. Investment advisory or management: Ceres Partners LLC, Carret Asset Management and Rreef America Reit II, Inc.. The financial statements were audited by Citrin Cooperman & Company, 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 2025 to 31 Dec 2025, received by the Department of Labor on 31 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 13-2571151, plan 002, received 31 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.