Florida › Wholesale trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Retirement Plan for Salaried Tropical Employees of Chiquita Brands, L.L.C.
Sponsored by Chiquita Brands, L.L.C. a Sub of Chiquita Brands Intl, Inc., Fort Lauderdale, FL
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.
Retirement Plan for Salaried Tropical Employees of Chiquita Brands, L.L.C. is a defined benefit pension plan sponsored by Chiquita Brands, L.L.C. a Sub of Chiquita Brands Intl, Inc. of Fort Lauderdale, Florida. For the plan year ending 31 Dec 2024 it reported 1,985 participants, 7 of them active, and net assets of $13.8M.
Net assets came to $6,958 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $61,809 median for defined benefit 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.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $194K: $97.58 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $407K. 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 $18.7M in 2009 to $13.8M in 2024 (down 26%), and participants from 3,860 to 1,985 (down 49%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $6,958 | $87,935 | $61,809 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $8,409 | $10,244 |
| Schedule C compensation per participant | $97.58 | $325 | $346 | $344 |
| Schedule C compensation, share of net assets | 1.4% | 0.41% | 0.54% | 0.42% |
| Administrative expenses per participant | $205 | $513 | $540 | $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), wholesale trade (157) 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 | 1,985 | $13.8M | $6,958 | — | — | $194K |
| 2023 | 2,042 | $14.9M | $7,286 | — | — | $214K |
| 2022 | 2,076 | $15.4M | $7,417 | — | — | $150K |
| 2021 | 2,106 | $19.4M | $9,221 | $250K | — | $269K |
| 2020 | 2,144 | $19.8M | $9,229 | $1.0M | — | $302K |
| 2019 | 2,194 | $18.5M | $8,436 | $1.0M | — | $349K |
| 2018 | 2,235 | $17.4M | $7,787 | $1.0M | — | $348K |
| 2017 | 2,267 | $19.1M | $8,405 | $966K | — | $307K |
| 2016 | 2,292 | $18.8M | $8,223 | $932K | — | $376K |
| 2015 | 2,383 | $19.5M | $8,163 | $1.4M | — | $277K |
| 2014 | 2,527 | $20.7M | $8,176 | $971K | — | $225K |
| 2013 | 2,769 | $21.5M | $7,760 | $967K | — | $234K |
| 2012 | 3,149 | $19.4M | $6,159 | $229K | — | $265K |
| 2011 | 3,500 | $19.5M | $5,581 | $1.9M | — | $178K |
| 2010 | 3,733 | $20.4M | $5,459 | $1.7M | — | $281K |
| 2009 | 3,860 | $18.7M | $4,846 | $527K | — | $246K |
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$14,878,438
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$604,478
- Benefits paid$1,264,239
- Administrative expenses$406,659
- Total expenses$1,670,898
- Net income−$1,066,420
- Net transfers$0
- Net assets, end of year$13,812,018
Participants
- Active participants7
- Retired or separated, receiving benefits895
- Retired or separated, entitled to future benefits862
- Total participants, end of year1,985
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting Inc. | Actuarial; Plan Administrator; Consulting (general) | $95,805 | $0 |
| UBS Financial Services Inc. | Investment advisory (plan); Investment management | $42,030 | $0 |
| BDO USA P.C. | Accounting (including auditing) | $40,230 | $0 |
| USI Consulting Group | Plan Administrator | $8,500 | $0 |
| Comerica Bank & Trust NA | Trustee (bank, trust company, or similar financial institution) | $7,125 | $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
- Other administrative expenses$206,866
- Contract administrator fees$79,846
- Investment advisory and management fees$42,030
- IQPA audit fees$40,230
- Actuarial fees$29,383
- Trustee and custodial fees$7,125
- Legal fees$1,179
- Total administrative expenses$406,659
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$10.6M · 75.6%
- Corporate stocks$2.8M · 20.3%
- Cash (interest and non-interest bearing)$267K · 1.9%
- U.S. Government securities$190K · 1.4%
- Receivables$119K · 0.8%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBDO USA P.C.
- 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
1ABenefits are primarily pay related3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 424400: Grocery & Related Products.
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| JM Family Associates' Retirement Plan | JM Family Automotive LLC | 7,558 | $825M | $109,190 |
| Kelley-Clarke, LLC Employees Defined Benefit Pension Plan and Trust | Acosta Sales and Marketing Company | 603 | $18.4M | $30,506 |
| Pension Fund of Local 227 | Board of Trustees of Pension Fund of Local 227 | 8,832 | $97.2M | $11,003 |
| The Swatch Group (U.S.) Inc. Employees' Retirement Plan | The Swatch Group (U.S.) Inc. | 469 | $21.6M | $46,130 |
| Welbilt Pension Plan | Welbilt, Inc. | 464 | $31.2M | $67,319 |
| Del Monte Fresh Produce (Hawaii) Inc. Pineapple Pension Plan | Del Monte Fresh Produce Hawaii Inc. | 430 | $11.3M | $26,376 |
Defined benefit plans in wholesale trade closest in size.
Questions and answers
How big is Retirement Plan for Salaried Tropical Employees of Chiquita Brands, L.L.C.?
1,985 participants at the end of the plan year ending 31 Dec 2024, of whom 7 were active employees, with net assets of $13,812,018. 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 Chiquita Brands, L.L.C. a Sub of Chiquita Brands Intl, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $193,690 in compensation to service provider organisations, $97.58 per participant or 1.4% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $406,659. 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 Chiquita Brands, L.L.C. a Sub of Chiquita Brands Intl, Inc.. Recordkeeping or administration: Aon Consulting Inc. and USI Consulting Group. Investment advisory or management: UBS Financial Services Inc.. Trustee or custodian: Comerica Bank & Trust NA. The financial statements were audited by BDO USA 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 5 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 31-1192704, plan 002, received 5 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.