New York › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Bakery Drivers Local 550 and Industry Pension Fund
Sponsored by BD of Trustees Bakery Drivers Local 550 and Industry Pension Fund, Floral Park, 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, Bakery Drivers Local 550 and Industry Pension Fund covered 1,009 participants and held −$14.0M in net assets. The plan is a defined benefit pension plan sponsored by BD of Trustees Bakery Drivers Local 550 and Industry Pension Fund of Floral Park, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Employer contributions were $94K for the year ($5,900 per active participant) and benefits paid were $5.3M. 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 4 service provider organisations paid $5,000 or more, with reported compensation of $131K: $130 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $313K. 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 $92.2M in 2009 to −$14.0M in 2024 (down 115%), and participants from 2,118 to 1,009 (down 52%).
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 | — | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $5,900 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $130 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | — | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $310 | $513 | $650 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), transportation and warehousing (227) 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 | 1,009 | −$14.0M | −$13,891 | $94K | — | $131K |
| 2023 | 1,012 | −$7.6M | −$7,558 | $92K | — | $113K |
| 2022 | 1,055 | −$1.5M | −$1,401 | $92K | — | $418K |
| 2021 | 1,094 | $8.4M | $7,677 | $16K | — | $170K |
| 2020 | 1,122 | $18.6M | $16,542 | — | — | $191K |
| 2019 | 1,154 | $26.9M | $23,336 | — | — | $174K |
| 2017 | 1,210 | $48.1M | $39,726 | $0 | — | $247K |
| 2016 | 1,260 | $59.3M | $47,086 | $7.3M | — | $375K |
| 2015 | 1,836 | $57.1M | $31,089 | $2.0M | — | $643K |
| 2014 | 1,862 | $68.3M | $36,701 | $2.3M | — | $570K |
| 2013 | 1,910 | $79.9M | $41,844 | $2.4M | — | $662K |
| 2012 | 1,949 | $85.1M | $43,664 | $3.4M | — | $728K |
| 2011 | 1,995 | $84.2M | $42,185 | $72.9M | — | $810K |
| 2010 | 2,121 | $88.1M | $41,527 | $5.9M | — | $728K |
| 2009 | 2,118 | $92.2M | $43,547 | $6.0M | — | $640K |
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−$7,649,404
- Employer contributions$94,400
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$94,400
- Total income, including investment results$139,934
- Benefits paid$5,318,240
- Administrative expenses$312,771
- Total expenses$6,506,429
- Net income−$6,366,495
- Net transfers$0
- Net assets, end of year−$14,015,899
Participants
- Active participants16
- Retired or separated, receiving benefits586
- Retired or separated, entitled to future benefits196
- Total participants, end of year1,009
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Weaver & Tidwell LLP | Accounting (including auditing) | $48,954 | $0 |
| Administrative Service Professional | Contract Administrator | $29,367 | $0 |
| Spivak Lipton,llp | Legal | $27,600 | $0 |
| The Segal Company | Actuarial | $25,000 | $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
- Salaries and allowances$106,871
- Other administrative expenses$71,993
- IQPA audit fees$48,954
- Contract administrator fees$29,367
- Legal fees$27,600
- Actuarial fees$25,000
- Investment advisory and management fees$2,986
- Total administrative expenses$312,771
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)$1.0M · 74.0%
- Buildings and other property used in plan operation$340K · 24.5%
- Receivables$21K · 1.5%
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, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
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 484110: General Freight Trucking, Local.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Teamsters Bakery Drivers and Industry Pension Fund | Board of Trustee of Teamsters Bakery Drivers and Industry Pension Fund | 1,035 | $72.5M | $70,025 |
| Allied Aviation New York Services Pension Plan | Allied New York Services, Inc. | 536 | $34.4M | $64,231 |
| Air France USA Retirement Plan | Air France USA | 1,157 | $22.9M | $19,757 |
| Transport Workers Union of America AFL-CIO Local 100 Staff Pension Plan | Transport Workers Union of Amer AFL-CIO Local 100 Staff Pension Plan | 416 | $40.4M | $97,228 |
| Brotherhood of Locomotive Engineers and Trainmen Long Island Pension Fund | Board of Trustees | 1,163 | $88.0M | $75,700 |
| Local 804 Pension Fund | Board of Trustees of Local 804 Pension Fund | 248 | $17.6M | $70,934 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Bakery Drivers Local 550 and Industry Pension Fund?
1,009 participants at the end of the plan year ending 31 Oct 2025, of whom 16 were active employees, with net assets of −$14,015,899. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does BD of Trustees Bakery Drivers Local 550 and Industry Pension Fund contribute per participant?
The filing reports $94,400 in employer contributions for the year, which is $5,900 per active participant; the median for plans of the same type and size was $10,593 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 $130,921 in compensation to service provider organisations, $130 per participant. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $312,771. 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 Bakery Drivers Local 550 and Industry Pension Fund. Recordkeeping or administration: Administrative Service Professional. The financial statements were audited by Weaver and Tidwell, 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 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 13 Aug 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 13-6626195, plan 001, received 13 Aug 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.