New Jersey › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
United Parcel Service, Inc. - Machinists Lodge 447 (Iamaw) Annuity Fund
Sponsored by Bd. of Trustees,ups Inc.-Machinists Lodge 447 (Iamaw) Annuity Fund, West Trenton, NJ
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.
Bd. of Trustees,ups Inc.-Machinists Lodge 447 (Iamaw) Annuity Fund of West Trenton, New Jersey sponsors United Parcel Service, Inc. - Machinists Lodge 447 (Iamaw) Annuity Fund, a money purchase plan. Its Form 5500 for the plan year ending 30 Apr 2025 shows 1,531 participants (1,096 active) and $64.1M in net assets.
Net assets came to $41,862 per participant, below the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $32,883 median for defined contribution 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.
The employer contributed $5.4M during the year, or $4,934 per active participant against a same-size median of $2,045; participants contributed —. Benefits paid out totalled $4.5M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $538K: $351 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $576K. 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 $21.0M in 2009 to $64.1M in 2024 (up 205%), and participants from 653 to 1,531 (up 134%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $41,862 | $50,295 | $32,883 | $53,102 |
| Employer contributions per active participant | $4,934 | $2,045 | $1,396 | $2,175 |
| Schedule C compensation per participant | $351 | $82.08 | $113 | $123 |
| Schedule C compensation, share of net assets | 0.84% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $376 | $82.20 | $97.79 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), transportation and warehousing (1,909) and all US plans (63,460). 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 | 1,531 | $64.1M | $41,862 | $5.4M | — | $538K |
| 2023 | 1,593 | $58.9M | $36,953 | $5.4M | — | $336K |
| 2022 | 1,561 | $53.7M | $34,389 | $5.5M | — | $326K |
| 2021 | 1,473 | $52.7M | $35,791 | $5.2M | — | $320K |
| 2020 | 1,237 | $57.1M | $46,153 | $4.9M | — | $289K |
| 2019 | 736 | $47.2M | $64,094 | $4.0M | — | $247K |
| 2018 | 712 | $45.5M | $63,944 | $3.9M | — | $260K |
| 2017 | 683 | $42.7M | $62,477 | $3.4M | — | $212K |
| 2016 | 654 | $39.5M | $60,394 | $2.9M | — | $147K |
| 2015 | 642 | $36.2M | $56,417 | $2.5M | — | $137K |
| 2014 | 622 | $35.6M | $57,275 | $2.4M | — | $132K |
| 2013 | 618 | $32.3M | $52,244 | $2.2M | — | $136K |
| 2012 | 614 | $29.3M | $47,787 | $2.1M | — | $229K |
| 2011 | 635 | $26.5M | $41,663 | $2.0M | — | $254K |
| 2010 | 664 | $24.1M | $36,361 | $1.8M | — | $227K |
| 2009 | 653 | $21.0M | $32,227 | $1.6M | — | $224K |
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$58,866,021
- Employer contributions$5,407,223
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$5,407,223
- Total income, including investment results$10,324,159
- Benefits paid$4,522,748
- Administrative expenses$576,083
- Total expenses$5,098,831
- Net income$5,225,328
- Net transfers$0
- Net assets, end of year$64,091,349
Participants
- Active participants1,096
- Retired or separated, receiving benefits10
- Retired or separated, entitled to future benefits425
- Participants with account balances1,531
- Total participants, end of year1,531
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Proskauer Rose LLP | Legal | $232,508 | $0 |
| I.E. Shaffer & Co. | Contract Administrator | $129,337 | $0 |
| Gallagher Fiduciary Advisors, LLC | Investment advisory (plan) | $77,270 | $0 |
| Western Asset Management Co. LLC | Custodial (securities) | $59,762 | $0 |
| Weaver and Tidwell LLP | Accounting (including auditing) | $26,875 | $0 |
| Amalgamated Bank | Custodial (securities) | $11,992 | $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
- Legal fees$232,508
- Investment advisory and management fees$137,032
- Recordkeeping fees$129,337
- Other administrative expenses$37,839
- IQPA audit fees$26,875
- Trustee and custodial fees$11,992
- Actuarial fees$500
- Total administrative expenses$576,083
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)$48.5M · 75.4%
- Common/collective trusts$13.8M · 21.4%
- Cash (interest and non-interest bearing)$1.6M · 2.5%
- Receivables$412K · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWeaver and Tidwell, L.L.P.
- 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
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 488490: Other Support Activities for Road Transportation.
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Academy Salary Savings Plan | Academy Bus, LLC | 1,927 | $48.5M | $25,175 |
| Metro-Ila Individual Account Retirement Plan | Board of Trustees Metro-Ila Individual Account Retirement Plan | 1,454 | $278M | $191,200 |
| Teamsters Local Union 500 - Severance Trust Fund | Teamsters Local Union 500 Severance Trust Fund Board of Trustees | 1,997 | $68.9M | $34,515 |
| Dana Transport Savings and Investment Plan | Dana Transport Inc. | 1,241 | $31.4M | $25,280 |
| Jack Cooper 401(k) Plan | Jack Cooper Investments, Inc. | 2,509 | $88.1M | $35,108 |
| Customized Distribution Services, Inc. 401(k) Plan | Customized Distribution Services, Inc. | 1,187 | $9.6M | $8,060 |
Defined contribution plans in transportation and warehousing closest in size.
Questions and answers
How big is United Parcel Service, Inc. - Machinists Lodge 447 (Iamaw) Annuity Fund?
1,531 participants at the end of the plan year ending 30 Apr 2025, of whom 1,096 were active employees, with net assets of $64,091,349. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Bd. of Trustees,ups Inc.-Machinists Lodge 447 (Iamaw) Annuity Fund contribute per participant?
The filing reports $5,407,223 in employer contributions for the year, which is $4,934 per active participant; the median for plans of the same type and size was $2,045 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 $537,744 in compensation to service provider organisations, $351 per participant or 0.84% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $576,083. 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,ups Inc.-Machinists Lodge 447 (Iamaw) Annuity Fund. Recordkeeping or administration: I.E. Shaffer & Co.. Investment advisory or management: Gallagher Fiduciary Advisors, LLC. Trustee or custodian: Western Asset Management Co. LLC and Amalgamated Bank. The financial statements were audited by Weaver and Tidwell, L.L.P.. 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 11 Feb 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 13-3031882, plan 001, received 11 Feb 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.