Arizona › Mining › 100 to 249 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Retirement Benefit Plan for Salaried Employees of Southern Copper Corporation
Sponsored by Southern Copper 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.
Retirement Benefit Plan for Salaried Employees of Southern Copper Corporation is a defined benefit pension plan sponsored by Southern Copper Corporation of Phoenix, Arizona. For the plan year ending 30 Apr 2025 it reported 146 participants, 0 of them active, and net assets of $8.5M.
Net assets came to $58,408 per participant, well below the $80,635 median for defined benefit plans with 100 to 249 participants and well below the $88,081 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.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $56K: $381 per participant, below the same-size median of $451. Administrative expenses charged to the plan were $56K. 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 $16.3M in 2012 to $8.5M in 2024 (down 48%), and participants from 169 to 146 (down 14%).
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 | $58,408 | $80,635 | $88,081 | $86,221 |
| Employer contributions per active participant | — | $9,975 | $13,585 | $10,244 |
| Schedule C compensation per participant | $381 | $451 | $409 | $344 |
| Schedule C compensation, share of net assets | 0.65% | 0.52% | 0.43% | 0.42% |
| Administrative expenses per participant | $381 | $582 | $591 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 100 to 249 participants (1,156 plans), mining (78) 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 | 146 | $8.5M | $58,411 | — | — | $56K |
| 2023 | 147 | $8.6M | $58,694 | — | — | $57K |
| 2022 | 151 | $9.5M | $63,026 | — | — | $60K |
| 2021 | 153 | $10.4M | $67,889 | — | — | $68K |
| 2020 | 155 | $12.2M | $78,742 | — | — | $73K |
| 2019 | 158 | $13.0M | $82,165 | — | — | $72K |
| 2018 | 161 | $12.5M | $77,932 | — | — | $70K |
| 2017 | 161 | $12.8M | $79,671 | — | — | $73K |
| 2016 | 162 | $13.8M | $84,926 | — | — | $76K |
| 2015 | 165 | $14.5M | $88,139 | — | — | $78K |
| 2014 | 166 | $15.1M | $90,988 | — | — | $80K |
| 2013 | 167 | $15.4M | $92,120 | $0 | — | $81K |
| 2012 | 169 | $16.3M | $96,657 | $0 | — | $90K |
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$8,627,527
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$699,924
- Benefits paid$744,245
- Administrative expenses$55,624
- Total expenses$799,869
- Net income−$99,945
- Net transfers$0
- Net assets, end of year$8,527,582
Participants
- Active participants0
- Retired or separated, receiving benefits83
- Retired or separated, entitled to future benefits45
- Total participants, end of year146
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Metropolitan Life Insurance Company | Contract Administrator; Custodial (other than securities); Insurance services; Investment management; Other services | $55,624 | $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
- Investment advisory and management fees$27,325
- Contract administrator fees$24,120
- Other administrative expenses$4,179
- Total administrative expenses$55,624
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.
- U.S. Government securities$4.7M · 50.4%
- Corporate debt instruments$3.8M · 40.1%
- Receivables$510K · 5.4%
- Registered investment companies (mutual funds)$339K · 3.6%
- Insurance company general account$53K · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBaker Tilly US, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- Blackout period during the year—
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 related1DFloor-offset plan1IFrozen 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.
Similar plans in Arizona
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| NMC Retirement Plan | BHP New Mexico Coal Inc. | 180 | $27.0M | $149,856 |
| Retirement Benefit Plan for Salaried Employees of Asarco LLC | Asarco LLC | 2,626 | $139M | $52,951 |
| Retirement Income Plan for Hourly-Rated Employees of Asarco LLC | Asarco LLC | 6,000 | $223M | $37,140 |
Defined benefit plans in mining closest in size.
Questions and answers
How big is Retirement Benefit Plan for Salaried Employees of Southern Copper Corporation?
146 participants at the end of the plan year ending 30 Apr 2025, of whom 0 were active employees, with net assets of $8,527,582. Among defined benefit plans that places it in the 100 to 249 participants band, which held 1,156 plans in plan year 2024.
What does Southern Copper Corporation contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $55,624 in compensation to service provider organisations, $381 per participant or 0.65% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $55,624. 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 Southern Copper Corporation. Recordkeeping or administration: Metropolitan Life Insurance Company. Investment advisory or management: Metropolitan Life Insurance Company. Trustee or custodian: Metropolitan Life Insurance Company. The financial statements were audited by Baker Tilly US, 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 17 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 13-3849074, plan 001, received 17 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.