Michigan › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Iron Workers Defined Contribution Pension Fund Plan
Sponsored by Board of Trustees, Iron Workers Local No. 25, Troy, MI
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.
Board of Trustees, Iron Workers Local No. 25 of Troy, Michigan sponsors Iron Workers Defined Contribution Pension Fund Plan, a profit-sharing plan. Its Form 5500 for the plan year ending 30 Apr 2025 shows 5,583 participants (5,493 active) and $231M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $41,407 per participant, well below the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well below 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 $28.5M during the year, or $5,196 per active participant against a same-size median of $2,424; participants contributed — and $94K arrived as rollovers and other contributions. Benefits paid out totalled $10.8M.
Schedule C lists 12 service provider organisations paid $5,000 or more, with reported compensation of $1.5M: $270 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.6M. 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 $783K in 2010 to $231M in 2024 (up 29424%), and participants from 422 to 5,583 (up 1223%).
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 | $41,407 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $5,196 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $270 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.65% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $278 | $54.85 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 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 | 5,583 | $231M | $41,407 | $28.5M | — | $1.5M |
| 2023 | 5,426 | $195M | $35,954 | $26.2M | — | $892K |
| 2022 | 4,736 | $156M | $32,926 | $21.3M | — | $795K |
| 2021 | 4,782 | $137M | $28,564 | $19.8M | — | $779K |
| 2020 | 4,619 | $131M | $28,456 | $17.5M | — | $688K |
| 2019 | 4,074 | $85.7M | $21,041 | $14.4M | — | $518K |
| 2018 | 3,764 | $76.0M | $20,193 | $12.9M | — | $506K |
| 2017 | 3,504 | $61.2M | $17,469 | $13.1M | — | $316K |
| 2016 | 4,114 | $44.9M | $10,924 | $10.0M | — | $231K |
| 2015 | 3,048 | $32.1M | $10,521 | $9.2M | — | $145K |
| 2014 | 2,075 | $12.3M | $5,934 | $5.9M | — | $81K |
| 2013 | 1,790 | $6.3M | $3,534 | $3.2M | — | $58K |
| 2012 | 733 | $2.8M | $3,862 | $947K | — | $62K |
| 2011 | 576 | $1.7M | $3,028 | $945K | — | $43K |
| 2010 | 422 | $783K | $1,855 | $757K | — | $51K |
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$195,086,359
- Employer contributions$28,543,172
- Participant contributions—
- Rollovers and other contributions$94,027
- Total contributions$28,637,199
- Total income, including investment results$48,482,419
- Benefits paid$10,842,130
- Administrative expenses$1,551,497
- Total expenses$12,393,627
- Net income$36,088,792
- Net transfers$0
- Net assets, end of year$231,175,151
Participants
- Active participants5,493
- Retired or separated, receiving benefits7
- Retired or separated, entitled to future benefits42
- Participants with account balances4,951
- Total participants, end of year5,583
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Ins Co. of America | Plan Administrator; Investment management | $961,906 | $0 |
| Taft Stettinius & Hollister LLP | Legal | $127,688 | $0 |
| Iron Workers Local No. 25 | Plan Administrator; Investment management | $93,097 | $0 |
| Littler Mendelson PC | Legal | $87,812 | $0 |
| Hessian & McKasy, PA | Legal | $85,892 | $0 |
| Asherkelly | Legal | $38,603 | $0 |
| Plante & Moran, PLLC | Accounting (including auditing) | $35,405 | $0 |
| Benesys, Inc. | Plan Administrator | $28,201 | $0 |
| Nepc, LLC | Consulting (pension) | $18,333 | $0 |
| Slevin & Hart, PC | Legal | $15,916 | $0 |
| Withumsmith+brown, PC | Consulting (general) | $10,594 | $0 |
| Marsh & McLennan Agency, LLC | Insurance agents and brokers; Insurance services | $0 | $5,660 |
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$961,906
- Legal fees$356,364
- Other administrative expenses$167,356
- IQPA audit fees$35,405
- Contract administrator fees$26,646
- Trustee and custodial fees$3,758
- Other trustee fees and expenses$62
- Total administrative expenses$1,551,497
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)$214M · 92.3%
- Insurance company general account$10.2M · 4.4%
- Receivables$4.9M · 2.1%
- Cash (interest and non-interest bearing)$2.6M · 1.1%
- Other investments$3,005 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPlante & Moran, PLLC
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 236200: Nonresidential Building Construction.
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| IBEW Local No. 58 Annuity Fund | Board of Trustees of the IBEW Local No. 58 Annuity Fund | 6,150 | $919M | $149,383 |
| Millwrights' Local 1102 Supplemental Pension Fund | Millwrights' Local 1102 Supplemental Pension Fund | 5,173 | $0 | — |
| Construction Industry Retirement Fund of Rockford | Joint Board of Trustees of Construction Industry of Rockford, Illinois | 11,408 | $619M | $54,301 |
| IBEW Local 347 Retirement and 401(k) Plan | IBEW Local No. 347 & Iowa Chapter of Neca, Joint Board of Trustees | 3,517 | $431M | $122,538 |
| Holcim (US) Inc. Retirement Savings Plan | Amrize North America Inc. | 11,601 | $1.27B | $109,525 |
| Pipefitters Local No 636 Defined Contribution Retirement Trust and Plan | Pipefitters Local 636 Defined Contribution Retirement Trust | 3,387 | $281M | $83,097 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Iron Workers Defined Contribution Pension Fund Plan?
5,583 participants at the end of the plan year ending 30 Apr 2025, of whom 5,493 were active employees, with net assets of $231,175,151. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Board of Trustees, Iron Workers Local No. 25 contribute per participant?
The filing reports $28,543,172 in employer contributions for the year, which is $5,196 per active participant; the median for plans of the same type and size was $2,424 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 $1,509,107 in compensation to service provider organisations, $270 per participant or 0.65% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $1,551,497. 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, Iron Workers Local No. 25. Recordkeeping or administration: Empower Annuity Ins Co. of America, Iron Workers Local No. 25 and Benesys, Inc.. Investment advisory or management: Empower Annuity Ins Co. of America and Iron Workers Local No. 25. The financial statements were audited by Plante & Moran, PLLC. 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 13 Feb 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 27-2392474, plan 001, received 13 Feb 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.