New York › Finance and insurance › 100 to 249 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Jeff Bank Pension Plan
Sponsored by Jeff Bank, Jeffersonville, 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, Jeff Bank Pension Plan covered 143 participants and held $24.4M in net assets. The plan is a defined benefit pension plan sponsored by Jeff Bank of Jeffersonville, New York.
Net assets came to $170,457 per participant, well above the $80,635 median for defined benefit plans with 100 to 249 participants and well above the $119,983 median for defined benefit plans in finance and insurance. 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 2 service provider organisations paid $5,000 or more, with reported compensation of $69K: $482 per participant, above the same-size median of $451. Administrative expenses charged to the plan were $69K. 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 $8.1M in 2009 to $24.4M in 2024 (up 200%), and participants from 183 to 143 (down 22%).
The independent accountant's opinion on the financial statements was disclaimer, 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 | $170,457 | $80,635 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,975 | $7,849 | $10,244 |
| Schedule C compensation per participant | $482 | $451 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.28% | 0.52% | 0.32% | 0.42% |
| Administrative expenses per participant | $482 | $582 | $433 | $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), finance and insurance (690) 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 | 143 | $24.4M | $170,455 | — | — | $69K |
| 2023 | 144 | $23.5M | $163,167 | — | — | $75K |
| 2022 | 170 | $22.1M | $129,847 | — | — | $109K |
| 2021 | 172 | $19.7M | $114,773 | $1.0M | — | $120K |
| 2020 | 172 | $23.4M | $135,884 | $2.0M | — | $101K |
| 2019 | 173 | $19.1M | $110,532 | $500K | — | $84K |
| 2018 | 173 | $17.7M | $102,393 | $500K | — | $81K |
| 2017 | 174 | $17.0M | $97,977 | $1.5M | — | $77K |
| 2016 | 176 | $15.2M | $86,085 | $500K | — | $71K |
| 2015 | 176 | $14.0M | $79,801 | $500K | — | $67K |
| 2014 | 177 | $13.1M | $74,209 | $1.7M | — | $63K |
| 2013 | 178 | $11.9M | $67,090 | $500K | — | $61K |
| 2012 | 179 | $11.0M | $61,525 | $800K | — | $56K |
| 2011 | 180 | $9.9M | $55,272 | $852K | — | $50K |
| 2010 | 186 | $8.3M | $44,516 | $775K | — | $48K |
| 2009 | 183 | $8.1M | $44,454 | $750K | — | $53K |
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$23,496,498
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$1,879,632
- Benefits paid$931,827
- Administrative expenses$68,942
- Total expenses$1,000,769
- Net income$878,863
- Net transfers$0
- Net assets, end of year$24,375,361
Participants
- Active participants36
- Retired or separated, receiving benefits90
- Retired or separated, entitled to future benefits14
- Total participants, end of year143
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Milliman | Actuarial; Recordkeeping and information management; Consulting (pension); Investment advisory (plan) | $54,938 | $0 |
| Matrix | Trustee (bank, trust company, or similar financial institution) | $14,004 | $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
- Actuarial fees$34,938
- Investment advisory and management fees$20,000
- Trustee and custodial fees$14,004
- Total administrative expenses$68,942
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.
- Registered investment companies (mutual funds)$23.2M · 95.3%
- Cash (interest and non-interest bearing)$1.1M · 4.7%
Audit and compliance answers, as filed
- Accountant's opinionDisclaimer
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmSnodgrass, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 related3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522110: Commercial Banking.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Emblemhealth Services Company, LLC Cash Balance Plan and Trust for Collectively Bargained Employees | BRD of Trustees, Emblemhealth SRVC Co. Cash Bal. PLN for Coll Bar | 144 | $818K | $5,680 |
| Motion Picture Lab Tech Local 702 Pension Fund | Motion Picture Lab Tech Local 702 Pension Fund | 143 | $194K | $1,359 |
| Champlain National Bank Pension Plan As a Member of the New York State Bankers Retirement System | Champlain National Bank | 149 | $26.6M | $178,320 |
| Orange Bank & Trust Company Pension Plan As a Member of the New York State Bankers Retirement System | Orange Bank and Trust Company | 142 | $34.3M | $241,446 |
| Banco de la Nacion Argentina Retirement Plan | Banco de la Nacion Argentina | 153 | $21.2M | $138,541 |
| Teg Federal Credit Union Retirement Pension Plan | Teg Federal Credit Union | 137 | $17.3M | $126,423 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Jeff Bank Pension Plan?
143 participants at the end of the plan year ending 30 Sep 2025, of whom 36 were active employees, with net assets of $24,375,361. 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 Jeff Bank 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 $68,942 in compensation to service provider organisations, $482 per participant or 0.28% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $68,942. 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 Jeff Bank. Recordkeeping or administration: Milliman. Investment advisory or management: Milliman. Trustee or custodian: Matrix. The financial statements were audited by Snodgrass, P.C.. 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 disclaimer opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. A disclaimer of opinion was the usual result of a limited-scope audit under the rules in force before 2021 and is not by itself a finding about the plan.
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 14 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 14-0779859, plan 001, received 14 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.