Pennsylvania › Construction › 250 to 499 participants
Form 5500 statement · plan year 1 Aug 2024 to 31 Jul 2025
Insulators Local No. 23 Annuity Fund
Sponsored by Insulators Local No. 23 Annuity Fund, Grantville, 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.
Insulators Local No. 23 Annuity Fund of Grantville, Pennsylvania sponsors Insulators Local No. 23 Annuity Fund, a profit-sharing plan. Its Form 5500 for the plan year ending 31 Jul 2025 shows 325 participants (302 active) and $37.0M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $113,780 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 participants and well above the $54,962 median for defined contribution 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.
The employer contributed $1.3M during the year, or $4,211 per active participant against a same-size median of $2,017; participants contributed — and $169K arrived as rollovers and other contributions. Benefits paid out totalled $1.7M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $231K: $712 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $255K. 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 $15.8M in 2009 to $37.0M in 2024 (up 133%), and participants from 627 to 325 (down 48%).
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 | $113,780 | $48,746 | $54,962 | $53,102 |
| Employer contributions per active participant | $4,211 | $2,017 | $2,728 | $2,175 |
| Schedule C compensation per participant | $712 | $141 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.63% | 0.30% | 0.33% | 0.26% |
| Administrative expenses per participant | $786 | $133 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), construction (4,204) 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 | 325 | $37.0M | $113,778 | $1.3M | — | $231K |
| 2023 | 338 | $33.7M | $99,601 | $1.2M | — | $183K |
| 2022 | 383 | $32.9M | $85,898 | $1.2M | — | $205K |
| 2021 | 430 | $31.6M | $73,600 | $1.2M | — | $126K |
| 2020 | 468 | $37.6M | $80,406 | $1.1M | — | $278K |
| 2019 | 551 | $33.2M | $60,180 | $999K | — | $216K |
| 2018 | 691 | $32.3M | $46,760 | $1.7M | — | $222K |
| 2017 | 515 | $29.9M | $58,128 | $1.5M | $113K | $170K |
| 2016 | 495 | $26.6M | $53,818 | $949K | $145K | $43K |
| 2015 | 519 | $23.8M | $45,792 | $1.2M | — | $132K |
| 2014 | 546 | $24.6M | $45,000 | $1.2M | — | $101K |
| 2013 | 501 | $23.7M | $47,363 | $876K | — | $95K |
| 2012 | 512 | $21.6M | $42,234 | $1.1M | — | $128K |
| 2011 | 539 | $18.6M | $34,584 | $1.2M | — | $112K |
| 2010 | 557 | $17.8M | $31,986 | $1.0M | — | $119K |
| 2009 | 627 | $15.8M | $25,262 | $1.4M | — | $128K |
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$33,664,779
- Employer contributions$1,271,600
- Participant contributions—
- Rollovers and other contributions$168,711
- Total contributions$1,440,311
- Total income, including investment results$5,309,157
- Benefits paid$1,740,008
- Administrative expenses$255,468
- Total expenses$1,995,476
- Net income$3,313,681
- Net transfers$0
- Net assets, end of year$36,978,460
Participants
- Active participants302
- Retired or separated, receiving benefits8
- Retired or separated, entitled to future benefits13
- Participants with account balances325
- Total participants, end of year325
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock Retirement Plan | Recordkeeping and information management | $155,572 | $0 |
| Graystone Investment Group | Investment management | $30,000 | $0 |
| Insulators Local 23 | Plan Administrator | $26,157 | $0 |
| JBM Computer Consultants | Other services | $10,659 | $0 |
| Alan Ross & Company, PC | Accounting (including auditing) | $9,100 | $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$185,572
- Other administrative expenses$27,745
- Contract administrator fees$21,129
- IQPA audit fees$11,403
- Legal fees$9,619
- Total administrative expenses$255,468
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.
- Registered investment companies (mutual funds)$35.1M · 95.0%
- Common/collective trusts$1.7M · 4.5%
- Receivables$142K · 0.4%
- Cash (interest and non-interest bearing)$17K · 0.0%
- Buildings and other property used in plan operation$2,500 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmAlan Ross & Company PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,500,000
- 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
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in Pennsylvania
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Quandel Enterprises, LLC and Subsidiaries Retirement Savings Plan | Quandel Enterprises, LLC | 326 | $46.6M | $142,859 |
| Stewart & Tate Employees Profit Sharing Plan | Stewart & Tate, Inc. | 314 | $27.9M | $88,927 |
| Warfel Construction Company Profit Sharing Plan | Warfel Construction Company | 329 | $24.0M | $72,850 |
| Nicholson Construction Company Employees 401(k) and Profit Sharing Plan | Nicholson Construction Company | 312 | $38.4M | $123,199 |
| Ambassador Home Improvements, Inc. 401(k) Profit Sharing Plan | Ambassador Home Improvements, Inc. | 330 | $12.9M | $39,201 |
| Leonard S. Fiore, Inc. Savings and Prevailing Wage Plan | Leonard S. Fiore, Inc. | 311 | $26.0M | $83,635 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Insulators Local No. 23 Annuity Fund?
325 participants at the end of the plan year ending 31 Jul 2025, of whom 302 were active employees, with net assets of $36,978,460. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Insulators Local No. 23 Annuity Fund contribute per participant?
The filing reports $1,271,600 in employer contributions for the year, which is $4,211 per active participant; the median for plans of the same type and size was $2,017 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 $231,488 in compensation to service provider organisations, $712 per participant or 0.63% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $255,468. 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 Insulators Local No. 23 Annuity Fund. Recordkeeping or administration: John Hancock Retirement Plan and Insulators Local 23. Investment advisory or management: Graystone Investment Group. The financial statements were audited by Alan Ross & Company 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 Aug 2024 to 31 Jul 2025, received by the Department of Labor on 11 May 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 25-1586636, plan 002, received 11 May 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.