Pennsylvania › Finance and insurance › 100 to 249 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
International Association of Heat and Frost Insulators and Allied Workers Local No. 40 Pension Fund
Sponsored by International Association of Heat and Frost Insulators and Allied Work, Pittsburg, PA
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.
International Association of Heat and Frost Insulators and Allied Work of Pittsburg, Pennsylvania sponsors International Association of Heat and Frost Insulators and Allied Workers Local No. 40 Pension Fund, a defined benefit pension plan. Its Form 5500 for the plan year ending 30 Jun 2025 shows 218 participants (95 active) and $26.1M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $119,788 per participant, well above the $80,635 median for defined benefit plans with 100 to 249 participants and close to 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.
Employer contributions were $1.5M for the year ($15,266 per active participant) and benefits paid were $1.4M. 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 6 service provider organisations paid $5,000 or more, with reported compensation of $169K: $775 per participant, well above the same-size median of $451. Administrative expenses charged to the plan were $260K. 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 $6.6M in 2009 to $26.1M in 2024 (up 295%), and participants from 181 to 218 (up 20%).
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 | $119,788 | $80,635 | $119,983 | $86,221 |
| Employer contributions per active participant | $15,266 | $9,975 | $7,849 | $10,244 |
| Schedule C compensation per participant | $775 | $451 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.65% | 0.52% | 0.32% | 0.42% |
| Administrative expenses per participant | $1,191 | $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 | 218 | $26.1M | $119,789 | $1.4M | — | $169K |
| 2023 | 224 | $23.6M | $105,393 | $1.6M | — | $145K |
| 2022 | 214 | $20.7M | $96,636 | $1.7M | — | $119K |
| 2021 | 214 | $18.9M | $88,393 | $1.8M | — | $134K |
| 2020 | 207 | $20.9M | $101,053 | $1.7M | — | $119K |
| 2019 | 219 | $16.7M | $76,393 | $1.4M | — | $107K |
| 2018 | 208 | $15.9M | $76,370 | $1.5M | — | $104K |
| 2017 | 187 | $14.7M | $78,631 | $1.6M | — | $99K |
| 2016 | 207 | $13.3M | $64,208 | $1.5M | — | $93K |
| 2015 | 201 | $11.9M | $59,035 | $1.4M | — | $82K |
| 2014 | 205 | $11.4M | $55,824 | $1.9M | — | $84K |
| 2013 | 198 | $10.4M | $52,662 | $1.5M | — | $84K |
| 2012 | 183 | $8.6M | $47,202 | $1.1M | — | $84K |
| 2011 | 185 | $8.1M | $43,616 | $1.2M | — | $83K |
| 2010 | 189 | $8.0M | $42,381 | $1.5M | — | $106K |
| 2009 | 181 | $6.6M | $36,564 | $979K | — | $101K |
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$23,608,113
- Employer contributions$1,450,273
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,450,273
- Total income, including investment results$4,149,152
- Benefits paid$1,383,761
- Administrative expenses$259,707
- Total expenses$1,643,468
- Net income$2,505,684
- Net transfers$0
- Net assets, end of year$26,113,797
Participants
- Active participants95
- Retired or separated, receiving benefits81
- Retired or separated, entitled to future benefits21
- Total participants, end of year218
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Merrill Lynch, Pierce, Fenner and S | Custodial (other than securities) | $84,843 | $0 |
| Pimco | Investment management | $28,450 | $0 |
| O'Sullivan Associates, Inc. | Actuarial | $20,240 | $0 |
| Teal, Becker & Chiaramonte CPAS PC | Accounting (including auditing) | $14,750 | $0 |
| Robeco Boston Partners | Investment management | $14,379 | $0 |
| Sga International | Investment management | $6,188 | $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$155,396
- Contract administrator fees$47,675
- Actuarial fees$20,240
- IQPA audit fees$14,750
- Other administrative expenses$12,513
- Legal fees$7,500
- Other trustee fees and expenses$1,633
- Total administrative expenses$259,707
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$15.5M · 59.4%
- U.S. Government securities$4.7M · 17.8%
- Registered investment companies (mutual funds)$4.7M · 17.8%
- Cash (interest and non-interest bearing)$861K · 3.3%
- Receivables$425K · 1.6%
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
- 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)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524210: Insurance Agencies & Brokerages.
Similar plans in Pennsylvania
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Essa Bank and Trust Pension Plan | Essa Bank and Trust | 219 | $20.8M | $94,757 |
| Penn Security Bank and Trust Company Employees' Pension Plan | Peoples Security Bank & Trust Company | 218 | $18.5M | $85,007 |
| Patriot Federal Credit Union Retirement Pension Plan | Patriot Federal Credit Union | 225 | $51.2M | $227,455 |
| Ameriserv Financial Pension Plan | Ameriserv Financial | 215 | $62.5M | $290,661 |
| Philadelphia Federal Credit Union Defined Benefit Plan and Trust | Philadelphia Federal Credit Union | 262 | $109M | $415,032 |
| Retirement Plan for Employees of Hamlin Bank and Trust Company | Hamlin Bank and Trust Company | 197 | $28.0M | $142,233 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is International Association of Heat and Frost Insulators and Allied Workers Local No. 40 Pension Fund?
218 participants at the end of the plan year ending 30 Jun 2025, of whom 95 were active employees, with net assets of $26,113,797. 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 International Association of Heat and Frost Insulators and Allied Work contribute per participant?
The filing reports $1,450,273 in employer contributions for the year, which is $15,266 per active participant; the median for plans of the same type and size was $9,975 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 $168,850 in compensation to service provider organisations, $775 per participant or 0.65% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $259,707. 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 International Association of Heat and Frost Insulators and Allied Work. Investment advisory or management: Pimco, Robeco Boston Partners and Sga International. Trustee or custodian: Merrill Lynch, Pierce, Fenner and S. The financial statements were audited by Teal, Becker & Chiaramonte, CPAS. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 11 Apr 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 14-6033598, plan 001, received 11 Apr 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.