New Jersey › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
UA Plumbers Local 24 Pension Fund
Sponsored by Plumbers Pension Fund Local 24 Board of Trustees, 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.
UA Plumbers Local 24 Pension Fund is a defined benefit pension plan sponsored by Plumbers Pension Fund Local 24 Board of Trustees of West Trenton, New Jersey. For the plan year ending 30 Apr 2025 it reported 1,701 participants, 569 of them active, and net assets of $208M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $122,122 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and above the $100,593 median for defined benefit 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.
Employer contributions were $8.0M for the year ($13,990 per active participant) and benefits paid were $14.2M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $1.1M: $624 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.4M. 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 $59.8M in 2009 to $208M in 2024 (up 248%), and participants from 1,026 to 1,701 (up 66%).
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 | $122,122 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $13,990 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $624 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.51% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $796 | $513 | $596 | $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), construction (655) 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 | 1,701 | $208M | $122,122 | $8.0M | — | $1.1M |
| 2023 | 1,699 | $199M | $116,939 | $8.9M | — | $986K |
| 2022 | 1,727 | $188M | $109,042 | $8.4M | — | $565K |
| 2021 | 1,748 | $191M | $109,273 | $7.9M | — | $821K |
| 2020 | 1,775 | $203M | $114,644 | $8.4M | — | $611K |
| 2019 | 1,805 | $174M | $96,167 | $8.9M | — | $506K |
| 2018 | 1,804 | $178M | $98,877 | $9.1M | — | $568K |
| 2017 | 1,811 | $173M | $95,458 | $9.3M | — | $569K |
| 2016 | 1,834 | $165M | $89,817 | $8.4M | — | $542K |
| 2015 | 1,845 | $154M | $83,364 | $7.5M | — | $556K |
| 2014 | 1,931 | $159M | $82,459 | $7.8M | — | $675K |
| 2013 | 1,921 | $151M | $78,470 | $6.3M | — | $629K |
| 2012 | 1,937 | $142M | $73,177 | $6.0M | — | $724K |
| 2011 | 1,951 | $136M | $69,625 | $5.2M | — | $733K |
| 2010 | 1,980 | $138M | $69,546 | $3.4M | — | $502K |
| 2009 | 1,026 | $59.8M | $58,257 | $3.5M | — | $310K |
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$198,680,397
- Employer contributions$7,960,385
- Participant contributions—
- Rollovers and other contributions$898,764
- Total contributions$8,859,149
- Total income, including investment results$24,570,873
- Benefits paid$14,167,244
- Administrative expenses$1,354,766
- Total expenses$15,522,010
- Net income$9,048,863
- Net transfers$0
- Net assets, end of year$207,729,260
Participants
- Active participants569
- Retired or separated, receiving benefits659
- Retired or separated, entitled to future benefits264
- Total participants, end of year1,701
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| I E Shaffer & Co. | Plan Administrator | $168,886 | $0 |
| J P Morgan Investment Advisors | Investment management fees paid directly by plan | $119,295 | $0 |
| Eagle Capital Management | Investment management | $117,597 | $0 |
| Sage Advisory | Investment management fees paid directly by plan | $97,505 | $0 |
| WCM Investment Management LLC | Investment management | $96,873 | $0 |
| Plumbers Local Union No. 24 | Contract Administrator | $74,657 | $0 |
| Crawford Investment Counsel, Inc. | Investment management | $70,358 | $0 |
| Weaver C. Barksdale & Associates | Investment management fees paid directly by plan | $68,325 | $0 |
| The Union Labor Life Insurance Co. | Investment management | $59,614 | $0 |
| Basil Castrovinci Associates | Actuarial | $51,146 | $0 |
| Amalgamated Bank | Custodial (securities) | $49,797 | $0 |
| Morgan Stanley Graystone | Investment management | $34,000 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$776,381
- Other administrative expenses$243,925
- Contract administrator fees$168,886
- IQPA audit fees$59,115
- Legal fees$55,313
- Actuarial fees$51,146
- Total administrative expenses$1,354,766
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$38.4M · 18.5%
- Corporate stocks$36.0M · 17.3%
- Partnership/joint venture interests$32.3M · 15.5%
- Registered investment companies (mutual funds)$32.0M · 15.4%
- Corporate debt instruments$30.4M · 14.6%
- Common/collective trusts$19.5M · 9.4%
- Pooled separate accounts$11.2M · 5.4%
- Cash (interest and non-interest bearing)$5.3M · 2.6%
- Receivables$2.7M · 1.3%
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
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 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| U.A. Local Union No. 322 Pension Plan | Trustees, U.A. Local 322 Pension Fund | 1,733 | $144M | $82,837 |
| Bricklayers & Allied Craftworkers Local No. 4 of New Jersey Pension Plan | B.A.C. Local No. 4 Pension Fund | 1,601 | $141M | $88,320 |
| Plumbers Local 9 Pension Plan | Plumbers Local 9 Pension Fund | 1,867 | $307M | $164,493 |
| IBEW Local 269 Pension Plan | IBEW Local 269 Pension Fund | 1,589 | $220M | $138,215 |
| Local 734 Pension Fund | Board of Trustees Local 734 Pension Fund | 1,992 | $48.2M | $24,185 |
| Local 147 Construction Workers Retirement Plan | Local 147 Construction Workers Retirement Plan | 1,489 | $180M | $120,809 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is UA Plumbers Local 24 Pension Fund?
1,701 participants at the end of the plan year ending 30 Apr 2025, of whom 569 were active employees, with net assets of $207,729,260. 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 Plumbers Pension Fund Local 24 Board of Trustees contribute per participant?
The filing reports $7,960,385 in employer contributions for the year, which is $13,990 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 $1,061,856 in compensation to service provider organisations, $624 per participant or 0.51% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,354,766. 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 Plumbers Pension Fund Local 24 Board of Trustees. Recordkeeping or administration: I E Shaffer & Co. and Plumbers Local Union No. 24. Investment advisory or management: Eagle Capital Management, WCM Investment Management LLC and Crawford Investment Counsel, Inc.. Trustee or custodian: Amalgamated Bank. 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 2 Feb 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 22-6042823, plan 001, received 2 Feb 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.