New York › Retail trade › 5,000 to 24,999 participants
Form 5500 statement · plan year 29 Apr 2024 to 27 Apr 2025
Golub Corporation Employees Retirement Plan
Sponsored by Golub Corporation, Schenectady, 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.
Golub Corporation Employees Retirement Plan is a defined benefit pension plan sponsored by Golub Corporation of Schenectady, New York. For the plan year ending 27 Apr 2025 it reported 10,395 participants, 5,711 of them active, and net assets of $366M.
Net assets came to $35,257 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and above the $30,870 median for defined benefit plans in retail trade. 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 $3.0M for the year ($523 per active participant) and benefits paid were $29.1M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $1.7M: $160 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $3.2M. 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 $218M in 2009 to $366M in 2024 (up 68%), and participants from 14,636 to 10,395 (down 29%).
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 | $35,257 | $87,623 | $30,870 | $86,221 |
| Employer contributions per active participant | $523 | $9,468 | $2,829 | $10,244 |
| Schedule C compensation per participant | $160 | $232 | $165 | $344 |
| Schedule C compensation, share of net assets | 0.46% | 0.30% | 0.59% | 0.42% |
| Administrative expenses per participant | $307 | $396 | $310 | $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), retail trade (132) 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 | 10,395 | $366M | $35,257 | $3.0M | — | $1.7M |
| 2023 | 11,189 | $370M | $33,062 | $2.8M | — | $1.9M |
| 2022 | 12,516 | $364M | $29,058 | $11.4M | — | $2.3M |
| 2021 | 13,087 | $390M | $29,838 | $12.1M | — | $2.3M |
| 2020 | 13,865 | $405M | $29,243 | $12.8M | — | $1.9M |
| 2019 | 14,043 | $315M | $22,445 | $13.4M | — | $1.5M |
| 2018 | 14,877 | $355M | $23,852 | $13.0M | — | $1.8M |
| 2017 | 15,218 | $358M | $23,498 | $13.0M | — | $1.9M |
| 2016 | 15,689 | $356M | $22,695 | $13.0M | — | $1.8M |
| 2015 | 15,378 | $349M | $22,714 | $13.0M | — | $2.1M |
| 2014 | 15,914 | $376M | $23,648 | $15.0M | — | $2.1M |
| 2013 | 16,292 | $356M | $21,847 | $30.0M | — | $2.0M |
| 2012 | 15,976 | $314M | $19,644 | $28.8M | — | $1.6M |
| 2011 | 15,648 | $277M | $17,672 | $26.5M | — | $1.5M |
| 2010 | 15,016 | $257M | $17,089 | $32.9M | — | $1.5M |
| 2009 | 14,636 | $218M | $14,892 | $20.0M | — | $622K |
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$369,927,147
- Employer contributions$2,984,089
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,984,089
- Total income, including investment results$28,835,750
- Benefits paid$29,076,623
- Administrative expenses$3,190,043
- Total expenses$32,266,666
- Net income−$3,430,916
- Net transfers$0
- Net assets, end of year$366,496,231
Participants
- Active participants5,711
- Retired or separated, receiving benefits1,270
- Retired or separated, entitled to future benefits2,987
- Total participants, end of year10,395
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Karpus Management | Investment management | $583,419 | $0 |
| Non-Us Equity Managers | Investment management | $271,685 | $0 |
| Shapiro | Investment management | $180,928 | $0 |
| Jennison | Investment management | $137,006 | $0 |
| Eagle | Investment management | $126,851 | $0 |
| Aetna | Investment management | $96,591 | $0 |
| Capital Group | Investment management | $92,557 | $0 |
| Yacktman | Investment management | $73,967 | $0 |
| Granite | Investment management | $52,524 | $0 |
| Nuveen | Investment management | $23,573 | $0 |
| Harter Secrest & Emery LLP | Legal | $20,805 | $0 |
| Harding | Investment management | $7,697 | $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$1,739,786
- Other administrative expenses$1,429,452
- Legal fees$20,805
- Total administrative expenses$3,190,043
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.
- Corporate stocks$218M · 59.4%
- Partnership/joint venture interests$96.8M · 26.4%
- Registered investment companies (mutual funds)$20.4M · 5.6%
- Other investments$14.2M · 3.9%
- Cash (interest and non-interest bearing)$13.8M · 3.8%
- Receivables$2.6M · 0.7%
- Pooled separate accounts$1.0M · 0.3%
- Insurance company general account$8,876 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmTeal, Becker, & Chiaramonte, CPAS P
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 445110: Supermarkets and Other Grocery (except Convenience) Stores.
Other plans of Golub Corporation
| Plan | Participants | Net assets |
|---|---|---|
| Golub Corporation Profit Sharing Plan | 10,756 | $98.5M |
| Golub Corporation Qualified Security Plan | 349 | $15.3M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Essilorluxottica Pension Plan | Essilorluxottica USA Inc. | 15,947 | $723M | $45,343 |
| Foot Locker Retirement Plan | Foot Locker, Inc. | 9,887 | $359M | $36,341 |
| Local 338 Retirement Fund | Trustees Local 338 Retirement Fund | 17,068 | $604M | $35,416 |
| United Teamster Pension Fund a | Board of Trustees of United Teamster Pension Fund a | 6,859 | $343M | $49,950 |
| UFCW Local One Pension Fund | BRD of Ttees UFCW Local One Pension Fund | 18,198 | $967M | $53,163 |
| Union Mutual Fund Pension Plan | Board of Trustees of Union Mutual Fund Pension Plan | 5,177 | $64.3M | $12,423 |
Defined benefit plans in retail trade closest in size.
Questions and answers
How big is Golub Corporation Employees Retirement Plan?
10,395 participants at the end of the plan year ending 27 Apr 2025, of whom 5,711 were active employees, with net assets of $366,496,231. 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 Golub Corporation contribute per participant?
The filing reports $2,984,089 in employer contributions for the year, which is $523 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 $1,667,603 in compensation to service provider organisations, $160 per participant or 0.46% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $3,190,043. 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 Golub Corporation. Investment advisory or management: Karpus Management, Non-Us Equity Managers and Shapiro. The financial statements were audited by Teal, Becker, & Chiaramonte, CPAS P. 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 29 Apr 2024 to 27 Apr 2025, received by the Department of Labor on 23 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 14-0724820, plan 001, received 23 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.