New Jersey › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Iron Workers Pension Plan
Sponsored by Iron Workers District Council Phila Vicinity Retirement and Pension, Springfield, 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.
Iron Workers District Council Phila Vicinity Retirement and Pension of Springfield, New Jersey sponsors Iron Workers Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 30 Sep 2025 shows 4,756 participants (1,518 active) and $439M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $92,345 per participant, above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and below 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 $29.6M for the year ($19,531 per active participant) and benefits paid were $49.9M. 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 $2.4M: $506 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $2.9M. 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 $311M in 2009 to $439M in 2024 (up 41%), and participants from 5,241 to 4,756 (down 9%).
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 | $92,345 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $19,531 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $506 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.55% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $605 | $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 | 4,756 | $439M | $92,345 | $29.6M | — | $2.4M |
| 2023 | 4,783 | $426M | $88,962 | $30.9M | — | $2.9M |
| 2022 | 4,788 | $375M | $78,344 | $30.7M | — | $2.1M |
| 2021 | 4,803 | $363M | $75,618 | $29.7M | — | $2.4M |
| 2020 | 4,872 | $446M | $91,538 | $30.3M | — | $2.3M |
| 2019 | 5,022 | $393M | $78,311 | $27.8M | — | $1.6M |
| 2018 | 5,038 | $406M | $80,569 | $32.1M | — | $2.4M |
| 2017 | 5,107 | $408M | $79,954 | $37.1M | — | $3.0M |
| 2016 | 5,124 | $389M | $75,887 | $39.1M | — | $2.4M |
| 2015 | 4,958 | $356M | $71,877 | $37.3M | — | $2.4M |
| 2014 | 4,898 | $341M | $69,721 | $30.5M | — | $2.5M |
| 2013 | 5,010 | $373M | $74,468 | $28.6M | — | $2.3M |
| 2012 | 5,112 | $347M | $67,869 | $27.1M | — | $2.0M |
| 2011 | 5,074 | $323M | $63,726 | $28.9M | — | $1.8M |
| 2010 | 5,103 | $292M | $57,218 | $28.4M | — | $1.6M |
| 2009 | 5,241 | $311M | $59,387 | $26.5M | — | $1.6M |
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$425,504,658
- Employer contributions$29,647,443
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$29,647,443
- Total income, including investment results$66,477,181
- Benefits paid$49,910,122
- Administrative expenses$2,877,109
- Total expenses$52,787,231
- Net income$13,689,950
- Net transfers$0
- Net assets, end of year$439,194,608
Participants
- Active participants1,518
- Retired or separated, receiving benefits2,013
- Retired or separated, entitled to future benefits732
- Total participants, end of year4,756
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Iron Workers Local 11 Welfrae Fund | Contract Administrator | $427,086 | $0 |
| Morgan Stanley | Investment management | $321,527 | $0 |
| WCM Investment Management | Investment management | $277,370 | $0 |
| The Segal Company | Actuarial; Insurance agents and brokers | $157,490 | $0 |
| JP Morgan Chase | Investment management | $119,661 | $0 |
| Intercontinental Real Estate Corp. | Investment management | $117,528 | $0 |
| Lord Abbett & Co. | Investment management | $116,069 | $0 |
| GW&K Investments | Investment management | $81,106 | $0 |
| Patriot Financial, LP | Investment management | $71,759 | $0 |
| Amalgamated Bank | Custodial (securities) | $69,080 | $0 |
| Manning & Napier Advisors | Investment management fees paid directly by plan; 'Soft dollars' commissions; Securities brokerage commissions and fees; Other investment fees and expenses | $66,072 | $0 |
| Dolan McEniry Capital | Investment management | $59,359 | $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$1,495,234
- Other administrative expenses$482,970
- Contract administrator fees$407,773
- Actuarial fees$157,490
- Legal fees$98,873
- Trustee and custodial fees$93,272
- Salaries and allowances$90,078
- IQPA audit fees$45,187
- Other trustee fees and expenses$6,232
- Total administrative expenses$2,877,109
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.
- Partnership/joint venture interests$110M · 23.6%
- Corporate stocks$86.2M · 18.5%
- Registered investment companies (mutual funds)$79.0M · 17.0%
- Corporate debt instruments$65.0M · 14.0%
- Common/collective trusts$53.2M · 11.4%
- U.S. Government securities$38.3M · 8.2%
- Receivables$18.2M · 3.9%
- Cash (interest and non-interest bearing)$10.1M · 2.2%
- Pooled separate accounts$5.9M · 1.3%
- Buildings and other property used in plan operation$16K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmFischer Dorwart, P.C.
- 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
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 238100: Foundation, Structure, & Building Exterior Contractors (including framing carpentry, masonry, glass, roofing, & siding).
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| New Jersey Building Laborers Statewide Pension Fund | BD of Trustees New Jersey Building Laborers Statewide Pension Fund | 7,137 | $534M | $74,753 |
| Joint Pension Fund of Local Union No 102 | Joint Pension Fund of Local Union No 102 IBEW Board of Trustees | 4,355 | $718M | $164,767 |
| Operating Engineers Local No. 825 Pension Fund | Operating Engineers Local No. 825 Pension Fund | 11,674 | $1.19B | $101,903 |
| Joint Pension Fund Local Union IBEW | Joint Pension Fund Local Union 164 IBEW | 4,105 | $599M | $145,915 |
| Heavy and General Laborers' Local Unions 472 and 172 of New Jersey Pension Fund | Board of Trustees H&GL Local Unions 472 & 172 of NJ Pension Fund | 14,241 | $1.75B | $122,935 |
| Refrigeration, A/c & Service Div. (Ua-Nj) Pension Plan | Refrigeration, A/c & Service Div. (Ua-Nj) Pension Fund | 3,374 | $410M | $121,467 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Iron Workers Pension Plan?
4,756 participants at the end of the plan year ending 30 Sep 2025, of whom 1,518 were active employees, with net assets of $439,194,608. 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 Iron Workers District Council Phila Vicinity Retirement and Pension contribute per participant?
The filing reports $29,647,443 in employer contributions for the year, which is $19,531 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 $2,406,746 in compensation to service provider organisations, $506 per participant or 0.55% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $2,877,109. 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 Iron Workers District Council Phila Vicinity Retirement and Pension. Recordkeeping or administration: Iron Workers Local 11 Welfrae Fund. Investment advisory or management: Morgan Stanley, WCM Investment Management and JP Morgan Chase. Trustee or custodian: Amalgamated Bank. The financial statements were audited by Fischer Dorwart, P.C.. 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 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 6 Jul 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 23-6529504, plan 001, received 6 Jul 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.