Maryland › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Service Benefit Plan Administrative Services Corp. Retirement Plan
Sponsored by Service Benefit Plan Administrative Services Corporation, Owings Mills, 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.
In the plan year ending 31 Dec 2024, Service Benefit Plan Administrative Services Corp. Retirement Plan covered 267 participants and held $53.2M in net assets. The plan is a cash balance pension plan sponsored by Service Benefit Plan Administrative Services Corporation of Owings Mills, Maryland.
Net assets came to $199,431 per participant, well above the $87,254 median for defined benefit plans with 250 to 499 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 5 service provider organisations paid $5,000 or more, with reported compensation of $270K: $1,011 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $273K. 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 $34.9M in 2009 to $53.2M in 2024 (up 53%), and participants from 392 to 267 (down 32%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), 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 | $199,431 | $87,254 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $11,032 | $7,849 | $10,244 |
| Schedule C compensation per participant | $1,011 | $413 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.51% | 0.51% | 0.32% | 0.42% |
| Administrative expenses per participant | $1,022 | $596 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 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 | 267 | $53.2M | $199,431 | — | — | $270K |
| 2023 | 277 | $54.9M | $198,119 | $6.1M | — | $295K |
| 2022 | 288 | $48.9M | $169,771 | — | — | $218K |
| 2021 | 304 | $64.8M | $213,109 | — | — | $316K |
| 2020 | 313 | $64.6M | $206,300 | $2.8M | — | $297K |
| 2019 | 321 | $59.0M | $183,695 | $2.3M | — | $220K |
| 2018 | 322 | $51.8M | $160,997 | $2.2M | — | $307K |
| 2017 | 322 | $53.8M | $166,953 | $2.2M | — | $284K |
| 2016 | 328 | $47.9M | $146,174 | $1.0M | — | $296K |
| 2015 | 337 | $45.4M | $134,855 | — | — | $373K |
| 2014 | 339 | $48.8M | $143,867 | $687K | — | $345K |
| 2013 | 354 | $47.5M | $134,308 | $632K | — | $354K |
| 2012 | 367 | $42.9M | $116,916 | $1.9M | — | $329K |
| 2011 | 376 | $37.7M | $100,255 | $2.6M | — | $229K |
| 2010 | 379 | $38.2M | $100,702 | $1.7M | — | $230K |
| 2009 | 392 | $34.9M | $88,939 | $849K | — | $257K |
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$54,879,000
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$3,030,000
- Benefits paid$4,388,000
- Administrative expenses$273,000
- Total expenses$4,661,000
- Net income−$1,631,000
- Net transfers$0
- Net assets, end of year$53,248,000
Participants
- Active participants127
- Retired or separated, receiving benefits79
- Retired or separated, entitled to future benefits54
- Total participants, end of year267
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting, Inc. | Actuarial | $177,632 | $0 |
| Dodge and Cox | Investment management | $27,533 | $0 |
| Callan Associate, Inc. | Investment management | $25,583 | $0 |
| Hood River Capital Management | Investment management | $20,370 | $0 |
| State Street Bank & Trust Co. | Trustee (bank, trust company, or similar financial institution) | $18,928 | $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$178,000
- Investment advisory and management fees$74,000
- Trustee and custodial fees$19,000
- Contract administrator fees$2,000
- Total administrative expenses$273,000
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$13.9M · 26.2%
- U.S. Government securities$13.7M · 25.8%
- Corporate debt instruments$8.9M · 16.7%
- Cash (interest and non-interest bearing)$7.2M · 13.6%
- Registered investment companies (mutual funds)$3.9M · 7.4%
- Common/collective trusts$3.2M · 5.9%
- Other investments$2.1M · 4.0%
- Receivables$199K · 0.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmSB & Company, LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
1ABenefits are primarily pay related1CCash balance or similar plan1IFrozen plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524140: Direct Life, Health, & Medical Insurance Carriers.
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| First United Corporation Pension Plan | First United Corporation | 299 | $55.7M | $186,155 |
| Securityplus Federal Credit Union Retirement Pension Plan | Securityplus Federal Credit Union | 202 | $34.0M | $168,128 |
| Municipal Employees Credit Union of Baltimore Defined Benefit Plan | Municipal Employees Credit Union of Baltimore | 404 | $49.0M | $121,369 |
| American Postal Workers Union Health Plan Management Staff Pension Plan | American Postal Workers Union, AFL-CIO Health Plan | 170 | $27.3M | $160,751 |
| American Postal Workers Union Health Plan Employee Pension Plan | American Postal Workers Union AFL-CIO Health Plan | 406 | $67.1M | $165,348 |
| International Association of Heat & Frost Insulators and Allied Workers 13 Pension | Allied Workers 13 Pension Fund | 152 | $17.1M | $112,817 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Service Benefit Plan Administrative Services Corp. Retirement Plan?
267 participants at the end of the plan year ending 31 Dec 2024, of whom 127 were active employees, with net assets of $53,248,000. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Service Benefit Plan Administrative Services Corporation 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 $270,046 in compensation to service provider organisations, $1,011 per participant or 0.51% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $273,000. 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 Service Benefit Plan Administrative Services Corporation. Investment advisory or management: Dodge and Cox, Callan Associate, Inc. and Hood River Capital Management. Trustee or custodian: State Street Bank & Trust Co.. The financial statements were audited by SB & Company, LLC. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 12 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 20-1907367, plan 004, received 12 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.