California › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Southern California Sheet Metal Workers' 401(a) Plan
Sponsored by Board of Trustees, Southern California Sheet Metal, San Jose, CA
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, Southern California Sheet Metal of San Jose, California sponsors Southern California Sheet Metal Workers' 401(a) Plan, a money purchase plan. Its Form 5500 for the plan year ending 30 Jun 2025 shows 7,069 participants (4,194 active) and $547M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $77,440 per participant, above the $64,499 median for defined contribution plans with 5,000 to 24,999 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.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $1.0M: $148 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.2M. 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 $178M in 2009 to $547M in 2024 (up 207%), and participants from 8,494 to 7,069 (down 17%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $77,440 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | — | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $148 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.19% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $165 | $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 | 7,069 | $547M | $77,440 | — | $16.0M | $1.0M |
| 2023 | 6,818 | $490M | $71,834 | $15.9M | — | $1.4M |
| 2022 | 9,858 | $444M | $45,045 | $15.9M | — | $1.5M |
| 2021 | 9,877 | $403M | $40,798 | $5.4M | $10.2M | $1.5M |
| 2020 | 9,766 | $474M | $48,516 | $15.7M | — | $1.4M |
| 2019 | 9,591 | $370M | $38,552 | $15.9M | — | $1.3M |
| 2018 | 9,258 | $349M | $37,718 | $14.6M | — | $1.3M |
| 2017 | 8,899 | $328M | $36,842 | $12.1M | — | $1.2M |
| 2016 | 8,699 | $298M | $34,287 | $10.3M | — | $987K |
| 2015 | 8,557 | $265M | $30,992 | $9.1M | — | $979K |
| 2014 | 8,248 | $263M | $31,846 | $7.1M | — | $874K |
| 2013 | 8,191 | $258M | $31,502 | $7.9M | — | $801K |
| 2012 | 8,237 | $228M | $27,643 | $8.4M | — | $642K |
| 2011 | 8,176 | $204M | $24,986 | $9.7M | — | $153K |
| 2010 | 8,215 | $208M | $25,337 | $9.7M | — | $755K |
| 2009 | 8,494 | $178M | $20,989 | $11.7M | — | $696K |
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$489,762,473
- Employer contributions—
- Participant contributions$15,968,858
- Rollovers and other contributions$13,074
- Total contributions$15,981,932
- Total income, including investment results$85,780,630
- Benefits paid$26,952,654
- Administrative expenses$1,164,777
- Total expenses$28,117,431
- Net income$57,663,199
- Net transfers$0
- Net assets, end of year$547,425,672
Participants
- Active participants4,194
- Retired or separated, receiving benefits205
- Retired or separated, entitled to future benefits2,654
- Participants with account balances7,069
- Total participants, end of year7,069
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Northwest Plan Services | Plan Administrator; Recordkeeping and information management; Consulting (general) | $653,791 | $0 |
| Mammini Company Inc. | Investment advisory (participants); Investment advisory (plan); Participant communication | $173,416 | $0 |
| Matrix Trust Company | Trustee (bank, trust company, or similar financial institution) | $112,239 | $0 |
| Gilbert & Sackman | Legal | $82,338 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $25,400 | $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$362,807
- Contract administrator fees$290,335
- Investment advisory and management fees$173,416
- Other administrative expenses$117,851
- Trustee and custodial fees$112,630
- Legal fees$82,338
- IQPA audit fees$25,400
- Total administrative expenses$1,164,777
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)$529M · 96.6%
- Common/collective trusts$13.5M · 2.5%
- Receivables$3.1M · 0.6%
- Cash (interest and non-interest bearing)$2.0M · 0.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMiller Kaplan Arase LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $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
2CMoney purchase (other than target benefit) 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 California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Granite Construction Profit Sharing and 401(k) Plan | Granite Construction Incorporated | 7,233 | $962M | $133,031 |
| Cement Masons Southern California Individual Retirement Account Defined Contribution Trust | Board of Trustees, Cement Masons Southern California | 6,385 | $223M | $35,002 |
| Western States Insulators and Allied Workers Individual Account Plan | Board of Trustees Western States Insulators and Allied Workers Indiv | 8,217 | $487M | $59,246 |
| The Contractors Retirement Plan | Inter-Con Security Systems, Inc. | 6,223 | $101M | $16,278 |
| Smart, Sheet Metal Workers Local No. 104 Supplemental Pension Plan | Board of Trustees of Smart, Sheet Metal Workers Local 104 Sup Pension | 9,367 | $1.29B | $137,538 |
| Pride Industries 401(k) Retirement Plan | Pride Industries | 5,784 | $160M | $27,611 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Southern California Sheet Metal Workers' 401(a) Plan?
7,069 participants at the end of the plan year ending 30 Jun 2025, of whom 4,194 were active employees, with net assets of $547,425,672. 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, Southern California Sheet Metal 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 $1,047,184 in compensation to service provider organisations, $148 per participant or 0.19% 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 $1,164,777. 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, Southern California Sheet Metal. Recordkeeping or administration: Northwest Plan Services. Investment advisory or management: Mammini Company Inc.. Trustee or custodian: Matrix Trust Company. The financial statements were audited by Miller Kaplan Arase LLP. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 1 Apr 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 33-0319259, plan 001, received 1 Apr 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.