New Jersey › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Teamsters Local 469 Pension Plan
Sponsored by Trustees of Teamsters Local No. 469 Pension Fund, Hazlet, 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.
In the plan year ending 31 Dec 2024, Teamsters Local 469 Pension Plan covered 1,401 participants and held $163M in net assets. The plan is a defined benefit pension plan sponsored by Trustees of Teamsters Local No. 469 Pension Fund of Hazlet, New Jersey. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $116,671 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $1.1M for the year ($15,258 per active participant) and benefits paid were $14.4M. 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 $561K: $400 per participant, above the same-size median of $325. Administrative expenses charged to the plan were $820K. 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 $107M in 2009 to $163M in 2024 (up 52%), and participants from 1,944 to 1,401 (down 28%).
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 | $116,671 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $15,258 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $400 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.34% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $585 | $513 | $650 | $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), transportation and warehousing (227) 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 | 1,401 | $163M | $116,672 | $1.1M | — | $561K |
| 2023 | 1,448 | $63.6M | $43,953 | $2.2M | — | $500K |
| 2022 | 1,490 | $68.5M | $45,999 | $4.2M | — | $512K |
| 2021 | 1,536 | $89.9M | $58,523 | $2.0M | — | $533K |
| 2020 | 1,576 | $90.8M | $57,640 | $1.9M | — | $658K |
| 2019 | 1,618 | $94.0M | $58,097 | $2.5M | — | $727K |
| 2018 | 1,650 | $93.3M | $56,546 | $1.4M | — | $658K |
| 2017 | 1,699 | $109M | $63,936 | $2.1M | — | $786K |
| 2016 | 1,738 | $107M | $61,812 | $1.7M | — | $853K |
| 2015 | 1,762 | $114M | $64,669 | $4.0M | — | $781K |
| 2014 | 1,781 | $121M | $68,012 | $1.6M | — | $836K |
| 2013 | 1,803 | $125M | $69,535 | $5.1M | — | $820K |
| 2012 | 1,823 | $114M | $62,338 | $4.4M | — | $764K |
| 2011 | 1,854 | $113M | $61,121 | $9.9M | — | $781K |
| 2010 | 1,903 | $116M | $60,697 | $9.3M | — | $762K |
| 2009 | 1,944 | $107M | $55,247 | $10.3M | — | $670K |
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$63,643,945
- Employer contributions$1,052,823
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,052,823
- Total income, including investment results$115,039,665
- Benefits paid$14,406,836
- Administrative expenses$820,112
- Total expenses$15,226,948
- Net income$99,812,717
- Net transfers$0
- Net assets, end of year$163,456,662
Participants
- Active participants69
- Retired or separated, receiving benefits651
- Retired or separated, entitled to future benefits368
- Total participants, end of year1,401
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Investment Performance Services | Consulting (general); Investment advisory (plan) | $125,000 | $0 |
| Westfield Capital Management | Investment management | $89,723 | $0 |
| O'Sullivan Associates, Inc. | Actuarial | $60,387 | $0 |
| Fabian & Byrn LLC | Contract Administrator | $59,105 | $0 |
| Wedge Capital Management, LLP | Investment management | $53,577 | $0 |
| Innovative Software Solutions, Inc. | Recordkeeping and information management | $44,870 | $0 |
| Amalgatrust | Investment management | $38,255 | $0 |
| MSPC | Accounting (including auditing) | $37,444 | $0 |
| Hardman Johnston Global Advisors LL | Investment management | $23,748 | $0 |
| Prudential Insurance Co. | Investment management | $22,027 | $0 |
| U.S. Bank National Association | Custodial (securities) | $6,588 | $0 |
| American Realty Advisors | Investment management | $0 | $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
- Investment advisory and management fees$378,653
- Other administrative expenses$234,266
- Actuarial fees$60,387
- Contract administrator fees$59,105
- Salaries and allowances$33,653
- IQPA audit fees$30,000
- Legal fees$7,516
- Recordkeeping fees$7,444
- Trustee and custodial fees$6,588
- Valuation and appraisal fees$2,500
- Total administrative expenses$820,112
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 debt instruments$96.2M · 58.8%
- Corporate stocks$21.2M · 13.0%
- Other investments$19.2M · 11.7%
- U.S. Government securities$5.9M · 3.6%
- Registered investment companies (mutual funds)$4.7M · 2.9%
- Insurance company general account$4.4M · 2.7%
- Cash (interest and non-interest bearing)$3.7M · 2.3%
- Common/collective trusts$3.2M · 2.0%
- 103-12 investment entities$3.2M · 1.9%
- Receivables$1.3M · 0.8%
- Real estate$575K · 0.4%
- Buildings and other property used in plan operation$1,605 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMSPC Certified Public Accountants &
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 484110: General Freight Trucking, Local.
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Ila Local 1478-2 Pension Plan | Board of Trustees Ila Local 1478-2 Pension Fund | 1,498 | $78.7M | $52,524 |
| Defined Benefit Plan of the Mid-Jersey Trucking Industry and Teamsters Local 701 Pension and Annuity Fund | Defined Benefit Plan of the Mid-Jersey Trucking Industry and Teamsters | 1,354 | $331M | $244,411 |
| Teamsters Local 814 Pension Fund | Board of Trustees of Teamsters Local 814 Pension Fund | 1,782 | $92.7M | $52,040 |
| Bakery Drivers & Salesmen Local 194 & Industry Pension Fund | Trustees Bakery Drivers & Salesmen Local 194 & Industry Pension Fund | 1,003 | $123M | $123,078 |
| Local 1964 Ila Retirement Fund | Local 1964 Ila Retirement Fund | 1,827 | $49.3M | $27,001 |
| Teamsters Local 408 Pension Plan | Trustees of Teamsters Local 408 Pension and Welfare Funds | 942 | $108M | $114,320 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Teamsters Local 469 Pension Plan?
1,401 participants at the end of the plan year ending 31 Dec 2024, of whom 69 were active employees, with net assets of $163,456,662. 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 Teamsters Local No. 469 Pension Fund contribute per participant?
The filing reports $1,052,823 in employer contributions for the year, which is $15,258 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 $560,724 in compensation to service provider organisations, $400 per participant or 0.34% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $820,112. 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 Teamsters Local No. 469 Pension Fund. Recordkeeping or administration: Fabian & Byrn LLC and Innovative Software Solutions, Inc.. Investment advisory or management: Investment Performance Services, Westfield Capital Management and Wedge Capital Management, LLP. Trustee or custodian: U.S. Bank National Association. The financial statements were audited by MSPC Certified Public Accountants &. 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 10 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 22-6172237, plan 001, received 10 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.