Maryland › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Sprinkler Industry Supplemental Pension Fund
Sponsored by Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees, Landover, MD
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.
Sprinkler Industry Supplemental Pension Fund is a profit-sharing plan sponsored by Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees of Landover, Maryland. For the plan year ending 31 Dec 2024 it reported 29,607 participants, 28,099 of them active, and net assets of $2.94B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $99,312 per participant, well above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $54,962 median for defined contribution 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.
The employer contributed $206M during the year, or $7,330 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $133M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $6.4M: $215 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $7.3M. 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 $1.22B in 2009 to $2.94B in 2024 (up 142%), and participants from 25,219 to 29,607 (up 17%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $99,312 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $7,330 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $215 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.22% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $247 | $38.81 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 plans), construction (4,204) and all US plans (63,460). 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 | 29,607 | $2.94B | $99,312 | $206M | — | $6.4M |
| 2023 | 27,884 | $2.62B | $93,894 | $192M | — | $5.0M |
| 2022 | 26,562 | $2.30B | $86,570 | $174M | — | $5.0M |
| 2021 | 25,800 | $2.45B | $95,126 | $156M | — | $4.8M |
| 2020 | 25,205 | $2.19B | $86,794 | $148M | — | $4.6M |
| 2019 | 24,636 | $2.14B | $86,746 | $137M | — | $4.5M |
| 2018 | 23,934 | $1.75B | $73,115 | $117M | — | $4.3M |
| 2017 | 23,536 | $1.73B | $73,514 | $104M | — | $5.2M |
| 2016 | 22,822 | $1.54B | $67,620 | $94.2M | — | $5.6M |
| 2015 | 22,321 | $1.42B | $63,830 | $86.0M | — | $5.4M |
| 2014 | 22,165 | $1.39B | $62,586 | $79.8M | — | $5.6M |
| 2013 | 22,395 | $1.32B | $59,128 | $77.5M | — | $5.9M |
| 2012 | 22,666 | $1.21B | $53,314 | $71.3M | — | $6.1M |
| 2011 | 23,144 | $1.13B | $48,677 | $63.9M | — | $5.9M |
| 2010 | 24,075 | $1.16B | $48,179 | $70.0M | — | $6.2M |
| 2009 | 25,219 | $1.22B | $48,258 | $85.6M | — | $5.2M |
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$2,618,150,063
- Employer contributions$205,959,916
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$205,959,916
- Total income, including investment results$462,826,883
- Benefits paid$133,329,956
- Administrative expenses$7,321,782
- Total expenses$140,651,738
- Net income$322,175,145
- Net transfers$0
- Net assets, end of year$2,940,325,208
Participants
- Active participants28,099
- Retired or separated, receiving benefits539
- Retired or separated, entitled to future benefits836
- Participants with account balances29,607
- Total participants, end of year29,607
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| JP Morgan Investment Management Inc. | Investment management; Investment advisory (plan) | $1,151,598 | $0 |
| Western Asset | Investment management | $1,081,593 | $0 |
| John Hancock Retirement Plan Servic | Recordkeeping fees | $983,990 | $0 |
| Comerica Bank | Custodial (securities) | $906,766 | $0 |
| Ullico Investment Advisors Inc. | Investment management | $729,221 | $0 |
| Invesco Advisors, Inc. | Investment management | $689,565 | $0 |
| Pimco | 'Soft dollars' commissions | $223,239 | $0 |
| Investment Performance Services | Investment advisory (plan) | $178,750 | $0 |
| Global Retirement Partners | Other services | $164,578 | $0 |
| Calibre CPA Group, PLLC | Accounting (including auditing) | $152,183 | $0 |
| Basys, Inc. | Other services | $39,570 | $0 |
| Segal Select Insurance Services | Insurance brokerage commissions and fees | $0 | $19,648 |
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
- Investment advisory and management fees$4,403,236
- Recordkeeping fees$1,123,207
- Salaries and allowances$780,035
- Other administrative expenses$710,226
- Legal fees$161,367
- IQPA audit fees$83,913
- Other trustee fees and expenses$59,798
- Total administrative expenses$7,321,782
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$1.10B · 33.1%
- U.S. Government securities$489M · 14.7%
- Corporate debt instruments$459M · 13.8%
- Insurance company general account$459M · 13.8%
- Registered investment companies (mutual funds)$333M · 10.0%
- Receivables$264M · 7.9%
- 103-12 investment entities$118M · 3.5%
- Cash (interest and non-interest bearing)$107M · 3.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $8,000,000
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| National Electrical 401(k) Plan | Trustees of the National Electrical 401(k) Plan | 30,463 | $176M | $5,762 |
| International Painters and Allied Trades Industry Annuity Plan | Intl Painters & Allied Trades Ind. Pension Fund- | 25,947 | $635M | $24,457 |
| National Electrical Annuity Plan | Trustees of the National Electrical Annuity Plan | 195,719 | $19.2B | $97,856 |
| Mid-Atlantic Regional Council of Carpenters' Annuity Fund | Board of Trustees Mid-Atlantic Regional Council of Carpenters' Annuity | 13,746 | $126M | $9,141 |
| Board of Electrical Workers Local #26 I.A. Individual Account Plan | BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund | 13,624 | $1.30B | $95,246 |
| The Whiting-Turner Contracting Company 401(k) Plan | The Whiting-Turner Contracting Company | 6,803 | $1.19B | $174,245 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Sprinkler Industry Supplemental Pension Fund?
29,607 participants at the end of the plan year ending 31 Dec 2024, of whom 28,099 were active employees, with net assets of $2,940,325,208. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees contribute per participant?
The filing reports $205,959,916 in employer contributions for the year, which is $7,330 per active participant; the median for plans of the same type and size was $2,417 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 $6,368,742 in compensation to service provider organisations, $215 per participant or 0.22% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $7,321,782. 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 Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees. Recordkeeping or administration: John Hancock Retirement Plan Servic. Investment advisory or management: JP Morgan Investment Management Inc., Western Asset and Ullico Investment Advisors Inc.. Trustee or custodian: Comerica Bank. The financial statements were audited by Calibre CPA Group, PLLC. 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 11 Oct 2025. 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 14-1595069, plan 001, received 11 Oct 2025; 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.