Ohio › Manufacturing › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Preformed Line Products Company Hourly Employees Retirement Plan
Sponsored by Preformed Line Products Company, Mayfield Village, OH
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.
Preformed Line Products Company of Mayfield Village, Ohio sponsors Preformed Line Products Company Hourly Employees Retirement Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 608 participants (220 active) and $29.0M in net assets.
Net assets came to $47,674 per participant, well below the $86,583 median for defined benefit plans with 500 to 999 participants and well below the $67,961 median for defined benefit plans in manufacturing. 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 2 service provider organisations paid $5,000 or more, with reported compensation of $223K: $366 per participant, close to the same-size median of $377. Administrative expenses charged to the plan were $476K. 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 $13.0M in 2009 to $29.0M in 2024 (up 123%), and participants from 692 to 608 (down 12%).
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 | $47,674 | $86,583 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $6,915 | $10,244 |
| Schedule C compensation per participant | $366 | $377 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.77% | 0.48% | 0.47% | 0.42% |
| Administrative expenses per participant | $783 | $591 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), manufacturing (1,532) 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 | 608 | $29.0M | $47,674 | — | — | $223K |
| 2023 | 618 | $31.8M | $51,419 | $1.5M | — | $277K |
| 2022 | 630 | $29.6M | $46,906 | — | — | $226K |
| 2021 | 635 | $39.8M | $62,717 | $2.1M | — | $158K |
| 2020 | 642 | $36.6M | $57,072 | — | — | $121K |
| 2019 | 693 | $32.9M | $47,499 | $330K | — | $192K |
| 2018 | 651 | $28.6M | $43,998 | — | — | $108K |
| 2017 | 654 | $30.7M | $46,916 | $5.3M | — | $100K |
| 2016 | 755 | $24.6M | $32,632 | $225K | — | $94K |
| 2015 | 759 | $24.1M | $31,758 | $991K | — | $93K |
| 2014 | 764 | $23.7M | $30,978 | $261K | — | $87K |
| 2013 | 776 | $22.6M | $29,146 | $712K | — | $78K |
| 2012 | 785 | $19.4M | $24,750 | $2.3M | — | $67K |
| 2011 | 763 | $16.0M | $20,962 | $1.7M | — | $60K |
| 2010 | 717 | $14.5M | $20,234 | $332K | — | $55K |
| 2009 | 692 | $13.0M | $18,819 | $413K | — | $46K |
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$31,776,509
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results−$733,370
- Benefits paid$1,581,243
- Administrative expenses$476,126
- Total expenses$2,057,369
- Net income−$2,790,739
- Net transfers$0
- Net assets, end of year$28,985,770
Participants
- Active participants220
- Retired or separated, receiving benefits204
- Retired or separated, entitled to future benefits148
- Total participants, end of year608
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fid MGMT Trust Co. | Actuarial; Recordkeeping and information management; Consulting (pension); Trustee (bank, trust company, or similar financial institution) | $120,127 | $0 |
| Fid Inst Asset Management Co. | Investment management | $102,553 | $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$253,446
- Investment advisory and management fees$120,127
- Contract administrator fees$102,553
- Total administrative expenses$476,126
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.
- Common/collective trusts$19.1M · 65.8%
- Registered investment companies (mutual funds)$9.9M · 34.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMaloney & Novotny LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $3,000,000
- 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
1ABenefits are primarily pay related1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 335900: Other Electrical Equipment & Component Mfg.
Other plans of Preformed Line Products Company
| Plan | Participants | Net assets |
|---|---|---|
| Preformed Line Products Company Profit Sharing Plan | 1,107 | $143M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Koroseal Interior Products Retirement Income Plan | Koroseal Interior Products, LLC | 656 | $33.3M | $50,727 |
| Celina Aluminum Precision Technology Inc. Defined Benefit Plan | Celina Aluminum Precision Technology Inc. | 592 | $20.1M | $33,954 |
| KTH Parts Industries, Inc. Associate Retirement Plan | KTH Parts Industries, Inc. | 790 | $89.6M | $113,371 |
| R. G. Barry Corporation Associates' Retirement Plan | R.G. Barry Corporation | 577 | $21.1M | $36,543 |
| Gibson Greetings, Inc. Retirement Income Plan | American Greetings Corporation | 902 | $47.8M | $52,987 |
| Tarkett Retirement Plan | Tarkett Finance Inc. | 565 | $20.8M | $36,809 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Preformed Line Products Company Hourly Employees Retirement Plan?
608 participants at the end of the plan year ending 31 Dec 2024, of whom 220 were active employees, with net assets of $28,985,770. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Preformed Line Products Company 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 $222,680 in compensation to service provider organisations, $366 per participant or 0.77% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $476,126. 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 Preformed Line Products Company. Recordkeeping or administration: Fid MGMT Trust Co.. Investment advisory or management: Fid Inst Asset Management Co.. Trustee or custodian: Fid MGMT Trust Co.. The financial statements were audited by Maloney & Novotny LLC. 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 30 Sep 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 34-0676895, plan 003, received 30 Sep 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.