Ohio › Manufacturing › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Libbey Salaried Cash Balance Pension Plan
Sponsored by Libbey Glass LLC, Toledo, OH
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.
Libbey Glass LLC of Toledo, Ohio sponsors Libbey Salaried Cash Balance Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 981 participants (107 active) and $55.6M in net assets.
Net assets came to $56,655 per participant, well below the $86,583 median for defined benefit plans with 500 to 999 participants and 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.
Schedule C lists 7 service provider organisations paid $5,000 or more, with reported compensation of $273K: $279 per participant, well below the same-size median of $377. Administrative expenses charged to the plan were $368K. 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 $88.5M in 2020 to $55.6M in 2024 (down 37%), and participants from 1,175 to 981 (down 17%).
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 | $56,655 | $86,583 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $6,915 | $10,244 |
| Schedule C compensation per participant | $279 | $377 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.49% | 0.48% | 0.47% | 0.42% |
| Administrative expenses per participant | $376 | $591 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 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 | 981 | $55.6M | $56,655 | — | — | $273K |
| 2023 | 1,023 | $59.9M | $58,564 | — | — | $0 |
| 2022 | 1,058 | $63.2M | $59,771 | — | — | $0 |
| 2021 | 1,108 | $87.7M | $79,156 | — | — | $0 |
| 2020 | 1,175 | $88.5M | $75,345 | — | — | $0 |
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$59,910,669
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$691,826
- Benefits paid$4,655,002
- Administrative expenses$368,495
- Total expenses$5,023,497
- Net income−$4,331,671
- Net transfers$0
- Net assets, end of year$55,578,998
Participants
- Active participants107
- Retired or separated, receiving benefits428
- Retired or separated, entitled to future benefits318
- Total participants, end of year981
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial | $149,813 | $0 |
| Legal & General Invt MGMT America | Investment management | $53,327 | $0 |
| Clearsted Advisors, LLC | Investment advisory (plan) | $22,134 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $17,664 | $0 |
| Northern Trust Corp. | Other services | $14,102 | $0 |
| Clifton Larson Allen LLP | Accounting (including auditing) | $9,626 | $0 |
| State Street Bank & Trust | Other services | $6,729 | $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
- Recordkeeping fees$123,000
- Investment advisory and management fees$92,891
- Other administrative expenses$91,772
- Actuarial fees$26,813
- Trustee and custodial fees$24,393
- IQPA audit fees$9,626
- Total administrative expenses$368,495
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.
- U.S. Government securities$51.6M · 92.9%
- Common/collective trusts$2.3M · 4.1%
- Cash (interest and non-interest bearing)$1.7M · 3.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCliftonLarsonAllen LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $20,000,000
- 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 plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 327210: Glass & Glass Product Mfg.
Other plans of Libbey Glass LLC
| Plan | Participants | Net assets |
|---|---|---|
| Libbey Hourly Retirement Plan | 2,256 | $203M |
| Libbey Supplemental Retirement Plan | 840 | $41.4M |
| Libbey Retirement Savings Plan | 669 | $107M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The J. M. Smucker Company Represented Employees' Retirement Plan | The J.M. Smucker Company | 1,035 | $71.3M | $68,847 |
| Gibson Greetings, Inc. Retirement Income Plan | American Greetings Corporation | 902 | $47.8M | $52,987 |
| The Wooster Brush Company Retirement Plan | The Wooster Brush Company | 1,106 | $56.4M | $50,978 |
| KTH Parts Industries, Inc. Associate Retirement Plan | KTH Parts Industries, Inc. | 790 | $89.6M | $113,371 |
| The J.M. Smucker Company Employees' Retirement Plan | The J.M. Smucker Company | 1,147 | $91.4M | $79,712 |
| Koroseal Interior Products Retirement Income Plan | Koroseal Interior Products, LLC | 656 | $33.3M | $50,727 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Libbey Salaried Cash Balance Pension Plan?
981 participants at the end of the plan year ending 31 Dec 2024, of whom 107 were active employees, with net assets of $55,578,998. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Libbey Glass LLC 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 $273,395 in compensation to service provider organisations, $279 per participant or 0.49% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $368,495. 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 Libbey Glass LLC. Investment advisory or management: Legal & General Invt MGMT America and Clearsted Advisors, LLC. Trustee or custodian: Northern Trust Company. The financial statements were audited by CliftonLarsonAllen LLP. 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 14 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 22-2784107, plan 003, received 14 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.