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Form 5500 statement · plan year 1 Aug 2024 to 31 Jul 2025
Graphic Communications Union Local 51 Bindery Employers Pension Fund
Sponsored by Gcu L 51 Bindery Employers Pension Fund Bindery Employers Pension Fund, New York, 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 Jul 2025, Graphic Communications Union Local 51 Bindery Employers Pension Fund covered 276 participants and held −$29.6M in net assets. The plan is a defined benefit pension plan sponsored by Gcu L 51 Bindery Employers Pension Fund Bindery Employers Pension Fund of New York, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $104K: $376 per participant, below the same-size median of $413. Administrative expenses charged to the plan were $135K. 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 $148K in 2009 to −$29.6M in 2024 (down 20087%), and participants from 685 to 276 (down 60%).
The independent accountant's opinion on the financial statements was qualified.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | — | $87,254 | $76,035 | $86,221 |
| Employer contributions per active participant | — | $11,032 | $7,015 | $10,244 |
| Schedule C compensation per participant | $376 | $413 | $354 | $344 |
| Schedule C compensation, share of net assets | — | 0.51% | 0.46% | 0.42% |
| Administrative expenses per participant | $488 | $596 | $671 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), information (147) 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 | 276 | −$29.6M | −$107,178 | — | — | $104K |
| 2023 | 294 | −$27.1M | −$92,170 | — | — | $82K |
| 2022 | 331 | −$24.7M | −$74,517 | — | — | $68K |
| 2021 | 319 | −$22.7M | −$71,295 | — | — | $104K |
| 2020 | 367 | −$21.5M | −$58,493 | — | — | $81K |
| 2019 | 379 | −$20.4M | −$53,789 | — | — | $47K |
| 2018 | 425 | −$18.9M | −$44,518 | — | — | $62K |
| 2017 | 446 | −$17.4M | −$39,009 | — | — | $64K |
| 2016 | 477 | −$16.0M | −$33,639 | — | — | $86K |
| 2015 | 449 | −$14.8M | −$32,891 | — | — | $48K |
| 2014 | 581 | −$13.6M | −$23,461 | — | — | $44K |
| 2013 | 566 | −$12.5M | −$22,104 | — | — | $57K |
| 2012 | 593 | −$11.4M | −$19,223 | — | — | $60K |
| 2011 | 621 | −$10.3M | −$16,548 | — | — | $48K |
| 2010 | 662 | $136K | $205 | — | — | $18K |
| 2009 | 685 | $148K | $216 | — | — | $20K |
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−$27,097,986
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results—
- Benefits paid$247,833
- Administrative expenses$134,794
- Total expenses$2,482,812
- Net income−$2,482,812
- Net transfers$0
- Net assets, end of year−$29,580,798
Participants
- Active participants—
- Retired or separated, receiving benefits235
- Retired or separated, entitled to future benefits15
- Total participants, end of year276
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Gcc/ibt Local 1L | Contract Administrator | $72,340 | $0 |
| Rogoff & Company, P.C | Accounting (including auditing) | $25,000 | $0 |
| MBS II. Net LLC | Recordkeeping and information management | $6,500 | $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$105,600
- IQPA audit fees$25,000
- Legal fees$2,320
- Actuarial fees$1,874
- Total administrative expenses$134,794
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.
- Cash (interest and non-interest bearing)$184K · 98.6%
- Buildings and other property used in plan operation$2,552 · 1.4%
Audit and compliance answers, as filed
- Accountant's opinionQualified
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmRogoff & Company PC
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 511190: Other Publishers.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Alm Media, LLC Pension Plan | Alm Media, LLC | 283 | $9.1M | $32,312 |
| Group Pension Plan for Ees of Springer Science Business Media | Springer Science + Business Media,llc | 251 | $25.9M | $103,065 |
| Pension Plan of Locals 794 & 819, I.A.T.S.E. | Fox Corporation | 373 | $75.2M | $201,655 |
| Mettel Vip Plan | Manhattan Telecommunications Corp. | 190 | $24.0M | $126,199 |
| Pension Plan for Union Employees of Fox Television Stations, LLC | Fox Corporation | 383 | $42.3M | $110,415 |
| Gannett Retirement Plan for Certain Union Employees | Gannett Media Corp. | 169 | $10.1M | $59,738 |
Defined benefit plans in information closest in size.
Questions and answers
How big is Graphic Communications Union Local 51 Bindery Employers Pension Fund?
276 participants at the end of the plan year ending 31 Jul 2025, with net assets of −$29,580,798. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Gcu L 51 Bindery Employers Pension Fund Bindery Employers Pension Fund 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 $103,840 in compensation to service provider organisations, $376 per participant. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $134,794. 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 Gcu L 51 Bindery Employers Pension Fund Bindery Employers Pension Fund. Recordkeeping or administration: Gcc/ibt Local 1L and MBS II. Net LLC. The financial statements were audited by Rogoff & Company PC. 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 qualified opinion. The accountant's report attached to the filing at EFAST2 explains the basis for the opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Aug 2024 to 31 Jul 2025, received by the Department of Labor on 13 May 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 13-6415834, plan 001, received 13 May 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.