New York › Manufacturing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Upstate New York Bakery Drivers and Industry Pension Fund
Sponsored by Trustees of the Upstate New York Bakery Drivers and Industry Pension F, Syracuse, 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.
Upstate New York Bakery Drivers and Industry Pension Fund is a defined benefit pension plan sponsored by Trustees of the Upstate New York Bakery Drivers and Industry Pension F of Syracuse, New York. For the plan year ending 30 Jun 2025 it reported 2,265 participants, 555 of them active, and net assets of $105M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $46,245 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $67,961 median for defined benefit plans in manufacturing. 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 $4.4M for the year ($7,940 per active participant) and benefits paid were $9.7M. 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 $611K: $270 per participant, below the same-size median of $325. Administrative expenses charged to the plan were $914K. 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 $83.8M in 2009 to $105M in 2024 (up 25%), and participants from 2,348 to 2,265 (down 4%).
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 | $46,245 | $87,935 | $67,961 | $86,221 |
| Employer contributions per active participant | $7,940 | $10,593 | $6,915 | $10,244 |
| Schedule C compensation per participant | $270 | $325 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.58% | 0.41% | 0.47% | 0.42% |
| Administrative expenses per participant | $404 | $513 | $498 | $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), manufacturing (1,532) 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 | 2,265 | $105M | $46,245 | $4.4M | — | $611K |
| 2023 | 2,296 | $102M | $44,505 | $5.4M | — | $593K |
| 2022 | 2,276 | $102M | $44,622 | $4.0M | — | $698K |
| 2021 | 2,258 | $104M | $45,990 | $3.7M | — | $938K |
| 2020 | 2,226 | $117M | $52,456 | $3.4M | — | $743K |
| 2019 | 2,225 | $100M | $45,077 | $4.1M | — | $819K |
| 2018 | 2,269 | $103M | $45,458 | $3.7M | — | $951K |
| 2017 | 2,305 | $105M | $45,680 | $9.6M | — | $1.3M |
| 2016 | 2,313 | $98.7M | $42,669 | $3.6M | — | $917K |
| 2015 | 2,292 | $97.3M | $42,442 | $3.3M | — | $924K |
| 2014 | 2,278 | $103M | $45,314 | $3.6M | — | $1.2M |
| 2013 | 2,290 | $108M | $47,108 | $2.8M | — | $1.1M |
| 2012 | 2,289 | $100M | $43,852 | $5.3M | — | $1.4M |
| 2011 | 2,250 | $93.4M | $41,524 | $2.5M | — | $1.3M |
| 2010 | 2,315 | $94.9M | $41,010 | $2.7M | — | $1.2M |
| 2009 | 2,348 | $83.8M | $35,689 | $2.6M | — | $847K |
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$102,182,682
- Employer contributions$4,406,765
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$4,406,765
- Total income, including investment results$13,181,207
- Benefits paid$9,703,768
- Administrative expenses$914,089
- Total expenses$10,617,857
- Net income$2,563,350
- Net transfers$0
- Net assets, end of year$104,746,032
Participants
- Active participants555
- Retired or separated, receiving benefits770
- Retired or separated, entitled to future benefits700
- Total participants, end of year2,265
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Nys Teamsters Pension & Retirement | Plan Administrator | $104,682 | $0 |
| Investment Performance Services, LL | Investment advisory (plan) | $80,000 | $0 |
| O'Sullivan Associates | Actuarial | $66,350 | $0 |
| Morgan, Lewis & Bockius LLP | Legal | $62,626 | $0 |
| Joseph McCarthy & Associates | Other services | $55,171 | $0 |
| Teal,becker & Chiaramonte CPAS PC | Accounting (including auditing) | $47,500 | $0 |
| Wedge Capital Management LLP | 'Soft dollars' commissions; Investment management fees paid directly by plan | $41,881 | $0 |
| Hamilton Lane Advisors | Investment management fees paid indirectly by plan | $0 | $41,252 |
| Bisceglie & Demarco, LLC | Legal | $41,073 | $0 |
| JPMorgan Chase Bank | Investment management; Investment advisory (plan); Trustee (discretionary) | $31,473 | $0 |
| U.S. Bank National Association | Other fees | $20,859 | $0 |
| Chartwell Investment Partners, LLC | Investment management | $18,477 | $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
- Other administrative expenses$237,592
- Investment advisory and management fees$181,797
- Contract administrator fees$104,681
- Legal fees$103,699
- Salaries and allowances$88,255
- Actuarial fees$66,350
- Recordkeeping fees$60,171
- IQPA audit fees$42,500
- Trustee and custodial fees$20,847
- Other trustee fees and expenses$8,197
- Total administrative expenses$914,089
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.
- Partnership/joint venture interests$41.4M · 39.4%
- Common/collective trusts$32.8M · 31.3%
- Corporate stocks$17.0M · 16.2%
- Corporate debt instruments$4.0M · 3.8%
- 103-12 investment entities$3.9M · 3.7%
- Receivables$3.8M · 3.6%
- Cash (interest and non-interest bearing)$2.0M · 1.9%
- Other investments$56K · 0.1%
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 PC
- 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)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 311800: Bakeries, Tortilla & Dry Pasta Mfg.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Moog Inc. Employees' Retirement Plan | Moog Inc. | 2,274 | $477M | $209,868 |
| TDK U. S. a. Corporation Retirement Plan | TDK U.S.A Corporation | 2,136 | $252M | $118,116 |
| Ala Lithographic Industry Pension Plan | Board of Trustees Ala Lithographic Industry Pension Plan | 2,345 | −$103M | — |
| Momentive Performance Materials Inc. Pension Plan | Momentive Performance Materials Inc. | 1,947 | $135M | $69,094 |
| Sumitomo Rubber USA, LLC 1950 Pension Plan | Sumitomo Rubber USA, LLC | 2,882 | $329M | $114,192 |
| Local 381 Pension Fund | Board of Trustees Local 381 Pension | 1,917 | $99.7M | $51,986 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Upstate New York Bakery Drivers and Industry Pension Fund?
2,265 participants at the end of the plan year ending 30 Jun 2025, of whom 555 were active employees, with net assets of $104,746,032. 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 Trustees of the Upstate New York Bakery Drivers and Industry Pension F contribute per participant?
The filing reports $4,406,765 in employer contributions for the year, which is $7,940 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 $611,344 in compensation to service provider organisations, $270 per participant or 0.58% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $914,089. 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 Trustees of the Upstate New York Bakery Drivers and Industry Pension F. Recordkeeping or administration: Nys Teamsters Pension & Retirement. Investment advisory or management: Investment Performance Services, LL, JPMorgan Chase Bank and Chartwell Investment Partners, LLC. Trustee or custodian: JPMorgan Chase Bank. The financial statements were audited by Teal, Becker & Chiaramonte, CPAS PC. 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 2 Mar 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 15-0612437, plan 001, received 2 Mar 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.