New Jersey › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Mar 2024 to 28 Feb 2025
Teamsters Local 641 Pension Fund
Sponsored by Board of Trustees Teamsters Local 641 Pension Fund, Union, 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.
Teamsters Local 641 Pension Fund is a defined benefit pension plan sponsored by Board of Trustees Teamsters Local 641 Pension Fund of Union, New Jersey. For the plan year ending 28 Feb 2025 it reported 2,904 participants, 105 of them active, and net assets of $556M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $191,570 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well 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 $13.2M for the year ($126,020 per active participant) and benefits paid were $37.8M. 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 9 service provider organisations paid $5,000 or more, with reported compensation of $1.6M: $543 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $2.2M. 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 $230M in 2009 to $556M in 2024 (up 142%), and participants from 4,465 to 2,904 (down 35%).
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 | $191,570 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $126,020 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $543 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.28% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $759 | $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 | 2,904 | $556M | $191,570 | $13.2M | — | $1.6M |
| 2023 | 3,095 | $547M | $176,830 | $2.8M | — | $1.2M |
| 2022 | 3,245 | $553M | $170,296 | $3.5M | — | $432K |
| 2021 | 3,325 | −$7.9M | −$2,382 | $3.8M | — | $168K |
| 2020 | 3,500 | $3.1M | $887 | $4.2M | — | $299K |
| 2019 | 3,610 | $22.8M | $6,317 | $4.8M | — | $283K |
| 2018 | 3,696 | $54.1M | $14,628 | $4.0M | — | $314K |
| 2017 | 3,730 | $87.0M | $23,338 | $7.2M | — | $362K |
| 2016 | 3,826 | $112M | $29,159 | $9.0M | — | $406K |
| 2015 | 3,988 | $128M | $32,004 | $5.1M | — | $503K |
| 2014 | 3,988 | $164M | $41,118 | $4.9M | — | $881K |
| 2013 | 4,038 | $184M | $45,494 | $7.9M | — | $975K |
| 2012 | 4,112 | $191M | $46,445 | $5.8M | — | $1.0M |
| 2011 | 4,212 | $209M | $49,568 | $14.0M | — | $964K |
| 2010 | 4,300 | $227M | $52,701 | $3.4M | — | $1.2M |
| 2009 | 4,465 | $230M | $51,530 | $4.6M | — | $1.2M |
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$547,287,913
- Employer contributions$13,232,145
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$13,232,145
- Total income, including investment results$49,073,864
- Benefits paid$37,837,791
- Administrative expenses$2,205,278
- Total expenses$40,043,069
- Net income$9,030,795
- Net transfers$0
- Net assets, end of year$556,318,708
Participants
- Active participants105
- Retired or separated, receiving benefits1,663
- Retired or separated, entitled to future benefits563
- Total participants, end of year2,904
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Capital International | Investment management | $937,474 | $0 |
| Groom Law | Legal | $189,646 | $0 |
| Investment Performance Services LLC | Investment advisory (plan) | $100,000 | $0 |
| JP Morgan Chase Bank, N.A. | Investment management | $72,175 | $0 |
| Bridgeway Benefit Technologies | Recordkeeping and information management | $70,125 | $0 |
| U.S. Bank National Association | Custodial (securities) | $63,580 | $0 |
| Summit Actuarial Services, LLC | Actuarial | $62,750 | $0 |
| MSPC | Accounting (including auditing) | $53,928 | $0 |
| Gellert Seitz Busenkell & Brown LLC | Legal | $28,437 | $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$1,109,649
- Other administrative expenses$449,791
- Legal fees$278,083
- Salaries and allowances$187,497
- Trustee and custodial fees$63,580
- Actuarial fees$62,750
- IQPA audit fees$53,928
- Total administrative expenses$2,205,278
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$378M · 67.3%
- U.S. Government securities$120M · 21.3%
- Cash (interest and non-interest bearing)$35.5M · 6.3%
- Registered investment companies (mutual funds)$23.7M · 4.2%
- Receivables$4.9M · 0.9%
- Buildings and other property used in plan operation$48K · 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 Cpa's & Advisors
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
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 |
|---|---|---|---|---|
| Trucking Employees of North Jersey Pension Fund | Trucking Employees of North Jersey Pension Fund | 5,000 | $728M | $145,589 |
| Transportation Communications Union Pension Fund | Trustees of Transportation Comm International Union Pension Fund | 2,895 | $69.5M | $23,995 |
| Nysa-Ila Pension Trust Fund & Plan | Board of Trustees, Nysa-Ila Pension Trust Fund and Plan | 8,915 | $1.36B | $152,171 |
| Teamsters Employers Local 945 Pension Fund | Board of Trustees Teamsters Local 945 Pension Fund | 2,668 | $99.9M | $37,455 |
| Teamsters Pension Trust Fund of Philadelphia & Vic | Board of Trustees of Teamsters Pension Trust Fund of Philadelphia & VI | 24,600 | $2.48B | $100,749 |
| Metro Ila Pension Fund | Board of Trustees Metro Ila Pension Fund | 2,507 | $366M | $145,882 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Teamsters Local 641 Pension Fund?
2,904 participants at the end of the plan year ending 28 Feb 2025, of whom 105 were active employees, with net assets of $556,318,708. 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 Board of Trustees Teamsters Local 641 Pension Fund contribute per participant?
The filing reports $13,232,145 in employer contributions for the year, which is $126,020 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 $1,578,115 in compensation to service provider organisations, $543 per participant or 0.28% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $2,205,278. 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 Board of Trustees Teamsters Local 641 Pension Fund. Recordkeeping or administration: Bridgeway Benefit Technologies. Investment advisory or management: Capital International, Investment Performance Services LLC and JP Morgan Chase Bank, N.A.. Trustee or custodian: U.S. Bank National Association. The financial statements were audited by MSPC Cpa's & Advisors. 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 12 Dec 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 22-6220288, plan 001, received 12 Dec 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.