Pennsylvania › Wholesale trade › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Bingaman & Son Lumber, Inc. Employee Stock Ownership Plan
Sponsored by Bingaman & Son Lumber, Inc., Kreamer, PA
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, Bingaman & Son Lumber, Inc. Employee Stock Ownership Plan covered 220 participants and held $3.9M in net assets. The plan is an employee stock ownership plan sponsored by Bingaman & Son Lumber, Inc. of Kreamer, Pennsylvania.
Net assets came to $17,784 per participant, well below the $60,185 median for defined contribution plans with 100 to 249 participants and well below the $65,557 median for defined contribution plans in wholesale trade. 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 $291K during the year, or $1,523 per active participant against a same-size median of $2,447; participants contributed —. Benefits paid out totalled $256K.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $15K: $69.76 per participant, well below the same-size median of $194. Administrative expenses charged to the plan were $18K. 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 $619K in 2009 to $3.9M in 2024 (up 532%), and participants from 203 to 220 (up 8%).
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 | $17,784 | $60,185 | $65,557 | $53,102 |
| Employer contributions per active participant | $1,523 | $2,447 | $2,107 | $2,175 |
| Schedule C compensation per participant | $69.76 | $194 | $153 | $123 |
| Schedule C compensation, share of net assets | 0.39% | 0.32% | 0.27% | 0.26% |
| Administrative expenses per participant | $81.13 | $176 | $147 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), wholesale trade (3,526) 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 | 220 | $3.9M | $17,786 | $291K | — | $15K |
| 2023 | 223 | $3.9M | $17,511 | $168K | — | $16K |
| 2022 | 220 | $4.3M | $19,495 | $61K | — | $15K |
| 2021 | 220 | $3.4M | $15,255 | $195K | — | $17K |
| 2020 | 218 | $2.7M | $12,541 | $279K | $0 | $16K |
| 2019 | 225 | $2.5M | $11,120 | $214K | $0 | $16K |
| 2018 | 231 | $3.5M | $15,009 | $139K | $0 | $19K |
| 2017 | 236 | $3.5M | $14,843 | $127K | $0 | $5,000 |
| 2016 | 224 | $2.7M | $11,839 | $138K | $0 | $30K |
| 2015 | 219 | $2.1M | $9,817 | $171K | $0 | $12K |
| 2014 | 193 | $2.1M | $10,694 | $128K | $0 | $16K |
| 2013 | 185 | $1.3M | $6,897 | $152K | $0 | $9,000 |
| 2012 | 181 | $1.1M | $6,017 | $145K | — | $9,000 |
| 2011 | 169 | $924K | $5,467 | $133K | — | $9,000 |
| 2010 | 176 | $739K | $4,199 | $90K | — | $9,000 |
| 2009 | 203 | $619K | $3,049 | $42K | — | $9,000 |
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$3,904,764
- Employer contributions$290,800
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$290,800
- Total income, including investment results$335,692
- Benefits paid$256,318
- Administrative expenses$17,848
- Total expenses$327,917
- Net income$7,775
- Net transfers$0
- Net assets, end of year$3,912,539
Participants
- Active participants191
- Retired or separated, receiving benefits1
- Retired or separated, entitled to future benefits26
- Participants with account balances220
- Total participants, end of year220
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal | Recordkeeping and information management; Custodial (securities); Participant communication | $15,347 | $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$15,348
- Other administrative expenses$2,500
- Total administrative expenses$17,848
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.
- Employer securities$5.0M · 82.2%
- Cash (interest and non-interest bearing)$849K · 13.8%
- Registered investment companies (mutual funds)$237K · 3.9%
- Receivables$3,603 · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
2IStock bonus2PLeveraged ESOP2QThe employer maintaining this ESOP is an S corporation3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 423300: Lumber & Other Construction Materials.
Other plans of Bingaman & Son Lumber, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Bingaman & Son Lumber, Inc. Profit Sharing Plan | 212 | $20.6M |
Similar plans in Pennsylvania
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Advanced Lubrication Specialties 401(k) Plan | Advanced Lubrication Specialties Inc. | 224 | $15.4M | $68,960 |
| Penn Veterinary 401(k) Plan | Penn Veterinary Supply | 220 | $10.2M | $46,457 |
| R F Fager Company 401(k) Profit Sharing Plan and Trust | R F Fager Company, LLC | 239 | $10.6M | $44,420 |
| Agriteer 401(k) Plan | Agriteer LLC | 218 | $9.9M | $45,351 |
| Stephenson Equipment, Inc. Employee Stock Ownership Plan | Stephenson Equipment, Inc. | 243 | −$56.0M | — |
| Bingaman & Son Lumber, Inc. Profit Sharing Plan | Bingaman & Son Lumber, Inc. | 212 | $20.6M | $97,129 |
Defined contribution plans in wholesale trade closest in size.
Questions and answers
How big is Bingaman & Son Lumber, Inc. Employee Stock Ownership Plan?
220 participants at the end of the plan year ending 31 Dec 2024, of whom 191 were active employees, with net assets of $3,912,539. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Bingaman & Son Lumber, Inc. contribute per participant?
The filing reports $290,800 in employer contributions for the year, which is $1,523 per active participant; the median for plans of the same type and size was $2,447 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 $15,347 in compensation to service provider organisations, $69.76 per participant or 0.39% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $17,848. 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 Bingaman & Son Lumber, Inc.. Recordkeeping or administration: Principal. Trustee or custodian: Principal. 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 27 Aug 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 23-1694390, plan 002, received 27 Aug 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.