New York › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Pension, Hospitalization & Benefit Plan of the Electrical Industry - Pension Trust Acct
Sponsored by BD of TR of the Pension, Hosp & Benefit PL of the Elec Ind-Pension, Flushing, 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 30 Sep 2025, Pension, Hospitalization & Benefit Plan of the Electrical Industry - Pension Trust Acct covered 40,749 participants and held $5.24B in net assets. The plan is a defined benefit pension plan sponsored by BD of TR of the Pension, Hosp & Benefit PL of the Elec Ind-Pension of Flushing, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $128,644 per participant, well above the $88,040 median for defined benefit plans with 25,000 or more participants and well above 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 $128M for the year ($8,119 per active participant) and benefits paid were $338M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $19.8M: $486 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $20.1M. 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 $2.23B in 2009 to $5.24B in 2024 (up 135%), and participants from 36,436 to 40,749 (up 12%).
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 | $128,644 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $8,119 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $486 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.38% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $492 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 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 |
|---|---|---|---|---|---|---|
| 2024 | 40,749 | $5.24B | $128,644 | $128M | — | $19.8M |
| 2023 | 41,042 | $4.94B | $120,288 | $163M | — | $16.8M |
| 2022 | 40,780 | $4.38B | $107,401 | $164M | — | $14.8M |
| 2021 | 40,710 | $4.21B | $103,528 | $205M | — | $14.0M |
| 2020 | 40,697 | $4.75B | $116,806 | $183M | — | $13.3M |
| 2019 | 40,828 | $4.02B | $98,442 | $182M | — | $12.0M |
| 2018 | 40,342 | $3.87B | $96,023 | $202M | — | $12.9M |
| 2017 | 39,779 | $3.80B | $95,407 | $167M | — | $11.5M |
| 2016 | 39,274 | $3.62B | $92,191 | $184M | — | $10.7M |
| 2015 | 38,919 | $3.31B | $85,092 | $175M | — | $10.0M |
| 2014 | 38,621 | $3.06B | $79,127 | $160M | — | $9.8M |
| 2013 | 37,398 | $3.09B | $82,749 | $150M | — | $8.9M |
| 2012 | 37,349 | $2.83B | $75,736 | $149M | — | $7.2M |
| 2011 | 37,071 | $2.63B | $70,836 | $198M | — | $7.2M |
| 2010 | 36,429 | $2.31B | $63,412 | $174M | — | $6.8M |
| 2009 | 36,436 | $2.23B | $61,105 | $119M | — | $7.0M |
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$4,936,863,815
- Employer contributions$127,741,428
- Participant contributions—
- Rollovers and other contributions$1,908,875
- Total contributions$129,650,303
- Total income, including investment results$663,002,455
- Benefits paid$337,687,665
- Administrative expenses$20,058,806
- Total expenses$357,746,471
- Net income$305,255,984
- Net transfers$0
- Net assets, end of year$5,242,119,799
Participants
- Active participants15,733
- Retired or separated, receiving benefits13,579
- Retired or separated, entitled to future benefits8,929
- Total participants, end of year40,749
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Joint Industry Board | Plan Administrator | $7,419,303 | $0 |
| State Street Bank & Trust Company | Custodial (securities); Investment management | $4,204,321 | $0 |
| Columbia MGT Investment Advisers | Investment management | $1,139,439 | $1,295,200 |
| BlackRock Institutional Trust Co. NA | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $1,495,695 | $0 |
| Alliant Insurance Services, Inc. | Insurance services | $743,735 | $0 |
| New York Life Insurance Co. | Investment management | $574,578 | $0 |
| Insight North America, LLC | Investment management | $558,010 | $0 |
| National Real Estate Advisors, LLC | Investment management | $451,041 | $0 |
| Prudential Insurance Co. of America | Investment management | $338,161 | $0 |
| Schroder Investment Management N.A | Investment management | $337,403 | $0 |
| Asb Capital Management LLC | Investment management | $265,049 | $0 |
| Milliman Inc. | Actuarial | $204,928 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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
- Contract administrator fees$7,419,303
- Investment advisory and management fees$5,601,779
- Trustee and custodial fees$4,249,531
- Other administrative expenses$2,382,510
- Actuarial fees$204,928
- Legal fees$185,755
- IQPA audit fees$15,000
- Total administrative expenses$20,058,806
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$1.91B · 36.1%
- Partnership/joint venture interests$1.46B · 27.7%
- Corporate stocks$458M · 8.7%
- Other investments$451M · 8.5%
- U.S. Government securities$362M · 6.9%
- Corporate debt instruments$340M · 6.4%
- Cash (interest and non-interest bearing)$107M · 2.0%
- Pooled separate accounts$73.2M · 1.4%
- 103-12 investment entities$56.6M · 1.1%
- Receivables$49.7M · 0.9%
- Registered investment companies (mutual funds)$17.8M · 0.3%
- Buildings and other property used in plan operation$117K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmRSM US LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- 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 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 |
|---|---|---|---|---|
| New York District Council of Carpenters Pension PL | Board of Trustees of Nycdcc Pension Fund | 30,149 | $5.21B | $172,686 |
| Mason Tenders' District Council Pension Fund | Board of Trustees Mason Tenders District Council Pension Fund | 19,759 | $1.93B | $97,816 |
| Excavators Union Local 731 Pension Fund | Excavators Union Pension Fund Loca | 11,892 | $3.01B | $253,288 |
| Upstate New York Engineers Pension Fund | BD of Trust Upstate New York Engineers Pension Fund | 6,843 | $454M | $66,319 |
| Metal Trades Branch Local 638 Pension Fund | Metal Trades Branch Local 638 Pension Fund | 6,271 | $1.02B | $162,632 |
| Sheet Metal Workers Local Union No. 28 Pension Fund | Board of Trustees of SMW Lu No. 28 Pension Fund | 5,570 | $364M | $65,370 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Pension, Hospitalization & Benefit Plan of the Electrical Industry - Pension Trust Acct?
40,749 participants at the end of the plan year ending 30 Sep 2025, of whom 15,733 were active employees, with net assets of $5,242,119,799. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does BD of TR of the Pension, Hosp & Benefit PL of the Elec Ind-Pension contribute per participant?
The filing reports $127,741,428 in employer contributions for the year, which is $8,119 per active participant; the median for plans of the same type and size was $6,524 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 $19,791,853 in compensation to service provider organisations, $486 per participant or 0.38% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $20,058,806. 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 TR of the Pension, Hosp & Benefit PL of the Elec Ind-Pension. Recordkeeping or administration: Joint Industry Board. Investment advisory or management: State Street Bank & Trust Company, Columbia MGT Investment Advisers and BlackRock Institutional Trust Co. NA. Trustee or custodian: State Street Bank & Trust Company and BlackRock Institutional Trust Co. NA. The financial statements were audited by RSM 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. 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 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 13 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 13-6123601, plan 001, received 13 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.