Michigan › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Iron Workers Local 17 Annuity Fund
Sponsored by Board of Trustees of Iron Workers Local 17 Annuity Fund, 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.
In the plan year ending 30 Apr 2025, Iron Workers Local 17 Annuity Fund covered 1,588 participants and held $100M in net assets. The plan is a profit-sharing plan sponsored by Board of Trustees of Iron Workers Local 17 Annuity Fund of Troy, Michigan. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $63,061 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and 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 $8.2M during the year, or $5,982 per active participant against a same-size median of $2,045; participants contributed —. Benefits paid out totalled $6.4M.
Schedule C lists 8 service provider organisations paid $5,000 or more, with reported compensation of $318K: $200 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $333K. 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 $33.1M in 2009 to $100M in 2024 (up 202%), and participants from 1,558 to 1,588 (up 2%).
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 | $63,061 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $5,982 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $200 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.32% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $210 | $82.20 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 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 | 1,588 | $100M | $63,061 | $8.2M | — | $318K |
| 2023 | 1,583 | $88.8M | $56,078 | $7.7M | — | $223K |
| 2022 | 1,478 | $75.7M | $51,233 | $6.8M | — | $273K |
| 2021 | 1,446 | $71.9M | $49,718 | $5.9M | — | $138K |
| 2020 | 1,299 | $75.5M | $58,117 | $4.2M | $130K | $204K |
| 2019 | 1,720 | $62.9M | $36,582 | $5.6M | $184K | $238K |
| 2018 | 1,545 | $60.9M | $39,415 | $5.2M | $175K | $105K |
| 2017 | 1,270 | $58.7M | $46,202 | $4.5M | $145K | $97K |
| 2016 | 1,203 | $54.9M | $45,627 | $3.4M | — | $100K |
| 2015 | 1,629 | $50.1M | $30,773 | $3.5M | — | $110K |
| 2014 | 1,607 | $49.9M | $31,050 | $3.7M | — | $100K |
| 2013 | 1,627 | $45.7M | $28,081 | $3.2M | — | $92K |
| 2012 | 1,656 | $41.3M | $24,937 | $3.3M | — | $116K |
| 2011 | 1,623 | $36.6M | $22,562 | $3.5M | — | $103K |
| 2010 | 1,495 | $35.0M | $23,385 | $2.5M | — | $98K |
| 2009 | 1,558 | $33.1M | $21,253 | $2.1M | — | $111K |
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$88,770,928
- Employer contributions$8,189,494
- Participant contributions—
- Rollovers and other contributions$0
- Total contributions$8,189,494
- Total income, including investment results$18,118,624
- Benefits paid$6,415,530
- Administrative expenses$333,006
- Total expenses$6,748,536
- Net income$11,370,088
- Net transfers$0
- Net assets, end of year$100,141,016
Participants
- Active participants1,369
- Retired or separated, receiving benefits27
- Retired or separated, entitled to future benefits165
- Participants with account balances1,588
- Total participants, end of year1,588
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Transamerica Retirement Solutions | Claims processing; Recordkeeping and information management; Investment management; Participant loan processing; Participant communication | $172,937 | $0 |
| Solxsys Administrative Solutions | Plan Administrator | $58,001 | $0 |
| Segal Advisors, Inc. | Investment advisory (plan) | $25,000 | $0 |
| Withum | Accounting (including auditing) | $19,546 | $0 |
| Tucker Arensberg P.C. | Legal | $17,907 | $0 |
| Bonadio & Co., LLP | Accounting (including auditing) | $14,700 | $0 |
| Local 17 Fringe Benefit Fund | Contract Administrator | $10,008 | $0 |
| National Financial Services | Securities brokerage | $0 | $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$160,308
- Contract administrator fees$58,001
- Other administrative expenses$57,090
- Investment advisory and management fees$25,000
- Legal fees$17,907
- IQPA audit fees$14,700
- Total administrative expenses$333,006
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)$93.2M · 92.3%
- Insurance company general account$6.2M · 6.2%
- Receivables$1.6M · 1.5%
- Cash (interest and non-interest bearing)$382 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBonadio &co., LLP
- 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
2EProfit-sharing plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 237990: Other Heavy & Civil Engineering Construction.
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Roofers Local 149 Defined Contribution Pension Fund | Roofers Local 149 DC Pension Plan | 1,615 | $7.4M | $4,589 |
| Holcim (US) Inc. Union 401(k) Plan | Amrize North America Inc. | 1,525 | $91.5M | $60,026 |
| Plumbers Local No 98 Defined Contribution Pension Plan | Joint Board of Trustee Plumbers 98 Defined Contribution Pension Plan | 1,648 | $83.9M | $50,880 |
| Walbridge Profit Sharing 401(k) Plan | Walbridge Aldinger Company | 1,421 | $158M | $111,260 |
| Plumbers and Pipefitters Local Union 520 Annuity Plan | Plumbers and Pipefitters Annuity Fund Local No. 520 | 1,712 | $220M | $128,234 |
| IBEW Local Union No 252 Def Contrib Plan 401(k) Plan | JT Board Trustees IBEW Local 252 | 1,340 | $143M | $106,573 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Iron Workers Local 17 Annuity Fund?
1,588 participants at the end of the plan year ending 30 Apr 2025, of whom 1,369 were active employees, with net assets of $100,141,016. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Board of Trustees of Iron Workers Local 17 Annuity Fund contribute per participant?
The filing reports $8,189,494 in employer contributions for the year, which is $5,982 per active participant; the median for plans of the same type and size was $2,045 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 $318,099 in compensation to service provider organisations, $200 per participant or 0.32% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $333,006. 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 of Iron Workers Local 17 Annuity Fund. Recordkeeping or administration: Transamerica Retirement Solutions, Solxsys Administrative Solutions and Local 17 Fringe Benefit Fund. Investment advisory or management: Transamerica Retirement Solutions and Segal Advisors, Inc.. The financial statements were audited by Bonadio &co., 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 30 Jan 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 34-1290643, plan 001, received 30 Jan 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.