New York › Professional, scientific and technical services › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Elevator Division Retirement Benefit Plan
Sponsored by Board of Trustees Elevator Division Retirement Plan, Long Island City, 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 Oct 2025, Elevator Division Retirement Benefit Plan covered 5,146 participants and held $258M in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees Elevator Division Retirement Plan of Long Island City, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $50,160 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below the $176,808 median for defined benefit plans in professional, scientific and technical services. 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 $5.0M for the year ($3,093 per active participant) and benefits paid were $8.1M. 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 $641K: $125 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $1.6M. 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 $74.1M in 2009 to $258M in 2024 (up 248%), and participants from 3,821 to 5,146 (up 35%).
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 | $50,160 | $87,623 | $176,808 | $86,221 |
| Employer contributions per active participant | $3,093 | $9,468 | $35,855 | $10,244 |
| Schedule C compensation per participant | $125 | $232 | $450 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.30% | 0.30% | 0.42% |
| Administrative expenses per participant | $313 | $396 | $596 | $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), professional, scientific and technical services (277) 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 | 5,146 | $258M | $50,160 | $5.0M | — | $641K |
| 2023 | 5,089 | $229M | $44,975 | $5.0M | — | $538K |
| 2022 | 4,994 | $190M | $37,992 | $4.9M | — | $365K |
| 2021 | 5,024 | $181M | $36,033 | $4.8M | — | $546K |
| 2020 | 5,131 | $208M | $40,622 | $4.8M | — | $527K |
| 2019 | 4,886 | $165M | $33,691 | $5.2M | — | $475K |
| 2018 | 4,655 | $155M | $33,249 | $2.3M | — | $447K |
| 2017 | 4,515 | $142M | $31,553 | $2.7M | — | $502K |
| 2016 | 4,394 | $139M | $31,530 | $2.7M | — | $544K |
| 2015 | 3,528 | $121M | $34,163 | $2.4M | — | $529K |
| 2014 | 4,217 | $117M | $27,843 | $2.7M | — | $413K |
| 2013 | 4,119 | $112M | $27,307 | $3.4M | — | $486K |
| 2012 | 4,008 | $101M | $25,170 | $3.3M | — | $435K |
| 2011 | 3,983 | $87.6M | $21,992 | $3.2M | — | $487K |
| 2010 | 3,895 | $78.6M | $20,169 | $3.3M | — | $487K |
| 2009 | 3,821 | $74.1M | $19,392 | $2.9M | — | $552K |
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$228,877,556
- Employer contributions$5,004,538
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$5,004,538
- Total income, including investment results$39,000,066
- Benefits paid$8,146,420
- Administrative expenses$1,608,926
- Total expenses$9,755,346
- Net income$29,244,720
- Net transfers$0
- Net assets, end of year$258,122,276
Participants
- Active participants1,618
- Retired or separated, receiving benefits1,288
- Retired or separated, entitled to future benefits2,240
- Total participants, end of year5,146
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Grassi & Co., Cpa's, P.C. | Accounting (including auditing) | $142,069 | $0 |
| Segal & Co. | Actuarial | $136,753 | $0 |
| Loomis Sayles & Company, L.P. | Investment management | $135,552 | $0 |
| RBC Global Asset Management Inc. | Investment advisory (plan) | $85,687 | $0 |
| Columbia Threadneedle Investments | Investment advisory (plan) | $47,074 | $0 |
| Reynolds Securities | Investment advisory (plan) | $45,625 | $0 |
| Whitestar Advisors, LLC | Investment advisory (plan) | $25,000 | $0 |
| BNY Mellon Securities Corporation | Investment advisory (plan) | $11,408 | $0 |
| Calfee, Halter & Griswold LLP | Legal | $6,880 | $0 |
| Amalgamated Bank of NY | Custodial (securities) | $5,250 | $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$613,875
- Investment advisory and management fees$518,720
- Salaries and allowances$272,480
- Actuarial fees$136,753
- Legal fees$67,098
- Total administrative expenses$1,608,926
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.
- Common/collective trusts$123M · 47.6%
- Corporate stocks$81.6M · 31.5%
- Real estate$27.4M · 10.6%
- Other investments$17.1M · 6.6%
- Cash (interest and non-interest bearing)$8.3M · 3.2%
- Receivables$1.2M · 0.5%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmGrassi & Co., Cpas,p.c.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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 related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 541990: All Other Professional, Scientific, & Technical Services.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| National Grid USA Companies Final Average Pay Pension Plan | National Grid USA Service Company, Inc. | 6,047 | $1.87B | $308,861 |
| Pension Plan of the Segal Company | The Segal Group, Inc. | 2,348 | $470M | $200,319 |
| IBM Personal Pension Plan | International Business Machines Corporation | 144,666 | $17.6B | $121,482 |
| Ogilvy & Mather Account Balance Defined Benefit Continuation Pension Plan | The Ogilvy Group, LLC | 2,229 | $171M | $76,500 |
| Young & Rubicam LLC Career Cash Balance Continuation Plan | Young & Rubicam LLC | 2,078 | $60.5M | $29,119 |
| Weil, Gotshal & Manges Employees' Pension Plan | Weil, Gotshal & Manges LLP | 1,956 | $122M | $62,307 |
Defined benefit plans in professional, scientific and technical services closest in size.
Questions and answers
How big is Elevator Division Retirement Benefit Plan?
5,146 participants at the end of the plan year ending 31 Oct 2025, of whom 1,618 were active employees, with net assets of $258,122,276. 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 Board of Trustees Elevator Division Retirement Plan contribute per participant?
The filing reports $5,004,538 in employer contributions for the year, which is $3,093 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 $641,298 in compensation to service provider organisations, $125 per participant or 0.25% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $1,608,926. 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 Elevator Division Retirement Plan. Investment advisory or management: Loomis Sayles & Company, L.P., RBC Global Asset Management Inc. and Columbia Threadneedle Investments. Trustee or custodian: Amalgamated Bank of NY. The financial statements were audited by Grassi & Co., Cpas,p.c.. 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 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 17 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 13-3523453, plan 001, received 17 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.