New Jersey › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Mar 2024 to 28 Feb 2025
Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Plan
Sponsored by Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Fund, West Trenton, NJ
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.
Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Fund of West Trenton, New Jersey sponsors Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Plan, a defined contribution plan. Its Form 5500 for the plan year ending 28 Feb 2025 shows 2,730 participants (2,308 active) and $418M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $152,995 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 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 $18.1M during the year, or $7,859 per active participant against a same-size median of $2,045; participants contributed — and $49K arrived as rollovers and other contributions. Benefits paid out totalled $19.5M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $393K: $144 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $440K. 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 $131M in 2009 to $418M in 2024 (up 218%), and participants from 1,892 to 2,730 (up 44%).
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 | $152,995 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $7,859 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $144 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.09% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $161 | $82.20 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 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 | 2,730 | $418M | $152,995 | $18.1M | — | $393K |
| 2023 | 2,655 | $381M | $143,653 | $16.9M | — | $290K |
| 2022 | 2,515 | $332M | $131,991 | $15.8M | — | $258K |
| 2021 | 2,227 | $342M | $153,692 | $14.1M | — | $723K |
| 2020 | 2,158 | $330M | $152,995 | $12.0M | — | $344K |
| 2019 | 2,120 | $291M | $137,387 | $12.4M | — | $370K |
| 2018 | 2,155 | $271M | $125,841 | $11.6M | — | $253K |
| 2017 | 2,053 | $262M | $127,661 | $11.8M | — | $245K |
| 2016 | 1,976 | $238M | $120,314 | $10.7M | — | $215K |
| 2015 | 1,935 | $212M | $109,383 | $10.3M | — | $215K |
| 2014 | 1,895 | $210M | $110,651 | $9.5M | — | $209K |
| 2013 | 1,888 | $191M | $101,419 | $8.9M | — | $200K |
| 2012 | 1,856 | $170M | $91,829 | $8.1M | — | $161K |
| 2011 | 1,858 | $156M | $84,213 | $8.6M | — | $164K |
| 2010 | 1,869 | $147M | $78,627 | $8.5M | — | $172K |
| 2009 | 1,892 | $131M | $69,358 | $8.5M | — | $166K |
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$381,400,036
- Employer contributions$18,137,984
- Participant contributions—
- Rollovers and other contributions$49,315
- Total contributions$18,187,299
- Total income, including investment results$56,195,979
- Benefits paid$19,478,570
- Administrative expenses$440,255
- Total expenses$19,918,825
- Net income$36,277,154
- Net transfers$0
- Net assets, end of year$417,677,190
Participants
- Active participants2,308
- Retired or separated, receiving benefits170
- Retired or separated, entitled to future benefits226
- Participants with account balances2,516
- Total participants, end of year2,730
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| I.E. Shaffer & Co. | Contract Administrator | $242,125 | $0 |
| Empower Annuity Insurance Company | Legal | $90,500 | $0 |
| Gerson & Associates | Accounting (including auditing) | $36,249 | $0 |
| Reynolds Consulting Services | Investment advisory (plan) | $24,342 | $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
- Contract administrator fees$242,125
- Legal fees$54,954
- Recordkeeping fees$52,242
- IQPA audit fees$36,249
- Other administrative expenses$30,343
- Investment advisory and management fees$24,342
- Total administrative expenses$440,255
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)$276M · 66.0%
- Insurance company general account$137M · 32.8%
- Cash (interest and non-interest bearing)$2.1M · 0.5%
- Receivables$1.6M · 0.4%
- Participant loans$1.6M · 0.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmGerson & Assoc CPAS and Advisors PC
- 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
2GTotal 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 New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Hovnanian Savings and Investment Retirement Plan | Hovnanian Enterprises, Inc. | 3,080 | $439M | $142,471 |
| IBEW Local 351 Surety Plan | IBEW Local 351 Surety Fund Trustees | 2,688 | $676M | $251,508 |
| Joint Annuity Fund Local 164 IBEW | Joint Annuity Fund Local 164 IBEW | 3,793 | $925M | $243,908 |
| Laborers' International Union of North America Local Union No. 616 DC Retirement Plan | Liuna 616 DC Retirement Plan | 2,636 | $12.4M | $4,696 |
| IBEW Local Union No 102 Surety Plan | IBEW Local Union No 102 Surety Plan Board of Trustees | 3,912 | $684M | $174,957 |
| U a Local 322 Annuity Fund | United Association Local 322 Annuity Fund | 2,531 | $149M | $58,675 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Plan?
2,730 participants at the end of the plan year ending 28 Feb 2025, of whom 2,308 were active employees, with net assets of $417,677,190. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Fund contribute per participant?
The filing reports $18,137,984 in employer contributions for the year, which is $7,859 per active participant; the median for plans of the same type and size was $2,045 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 $393,216 in compensation to service provider organisations, $144 per participant or 0.09% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $440,255. 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 Refrigeration, A/c & Service Div. (Ua-Nj) Annuity Fund. Recordkeeping or administration: I.E. Shaffer & Co. and Empower Annuity Insurance Company. Investment advisory or management: Reynolds Consulting Services. The financial statements were audited by Gerson & Assoc CPAS and Advisors 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 Mar 2024 to 28 Feb 2025, received by the Department of Labor on 29 Sep 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 22-2585171, plan 002, received 29 Sep 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.