Illinois › Construction › 250 to 499 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Roofers Local No. 88 Pension Fund
Sponsored by Roofers Local No. 88 Pension Fund Board of Trustees, Oak Brook, IL
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, Roofers Local No. 88 Pension Fund covered 479 participants and held $24.2M in net assets. The plan is a defined benefit pension plan sponsored by Roofers Local No. 88 Pension Fund Board of Trustees of Oak Brook, Illinois. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $50,515 per participant, well below the $87,254 median for defined benefit plans with 250 to 499 participants and well below the $100,593 median for defined benefit 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.
Employer contributions were $1.1M for the year ($9,909 per active participant) and benefits paid were $3.5M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $283K: $591 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $329K. 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 $27.9M in 2009 to $24.2M in 2024 (down 13%), and participants from 492 to 479 (down 3%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $50,515 | $87,254 | $100,593 | $86,221 |
| Employer contributions per active participant | $9,909 | $11,032 | $13,292 | $10,244 |
| Schedule C compensation per participant | $591 | $413 | $443 | $344 |
| Schedule C compensation, share of net assets | 1.2% | 0.51% | 0.46% | 0.42% |
| Administrative expenses per participant | $686 | $596 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), construction (655) 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 | 479 | $24.2M | $50,516 | $1.1M | — | $283K |
| 2023 | 484 | $24.9M | $51,444 | $1.1M | — | $247K |
| 2022 | 570 | $24.8M | $43,539 | $1.2M | — | $254K |
| 2021 | 474 | $26.9M | $56,764 | $1.1M | — | $321K |
| 2020 | 467 | $31.0M | $66,304 | $1.1M | — | $448K |
| 2019 | 442 | $25.2M | $57,025 | $1.0M | — | $256K |
| 2018 | 436 | $28.0M | $64,126 | $1.1M | — | $237K |
| 2017 | 432 | $28.7M | $66,426 | $981K | — | $245K |
| 2016 | 445 | $28.3M | $63,609 | $985K | — | $227K |
| 2015 | 432 | $27.2M | $62,852 | $977K | — | $240K |
| 2014 | 422 | $29.8M | $70,505 | $731K | — | $246K |
| 2013 | 426 | $29.7M | $69,716 | $709K | — | $305K |
| 2012 | 432 | $28.6M | $66,188 | $641K | — | $281K |
| 2011 | 428 | $28.1M | $65,750 | $670K | — | $193K |
| 2010 | 513 | $29.4M | $57,363 | $614K | — | $111K |
| 2009 | 492 | $27.9M | $56,772 | $612K | — | $245K |
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$24,898,516
- Employer contributions$1,139,531
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,139,531
- Total income, including investment results$3,149,922
- Benefits paid$3,523,127
- Administrative expenses$328,633
- Total expenses$3,851,760
- Net income−$701,838
- Net transfers$0
- Net assets, end of year$24,196,678
Participants
- Active participants115
- Retired or separated, receiving benefits233
- Retired or separated, entitled to future benefits87
- Total participants, end of year479
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley | Custodial (securities); Investment management | $132,822 | $0 |
| Benefits Management Group, Inc. | Contract Administrator | $56,412 | $0 |
| United Actuarial Services, Inc. | Actuarial | $42,913 | $0 |
| Macala & Piatt, LLC. | Legal | $22,648 | $0 |
| Yurchyk & Davis Cpa's Inc. | Accounting (including auditing) | $21,300 | $0 |
| Amalgomated Bank of Chicago | Custodial (securities) | $7,165 | $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
- Trustee and custodial fees$144,783
- Contract administrator fees$56,412
- Actuarial fees$42,913
- Other administrative expenses$38,362
- Legal fees$22,648
- IQPA audit fees$18,900
- Recordkeeping fees$2,400
- Other trustee fees and expenses$2,215
- Total administrative expenses$328,633
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)$9.3M · 38.4%
- Corporate stocks$5.3M · 21.9%
- Corporate debt instruments$5.0M · 20.7%
- Other investments$1.9M · 7.8%
- Cash (interest and non-interest bearing)$1.4M · 5.6%
- Common/collective trusts$1.2M · 4.9%
- Receivables$118K · 0.5%
- U.S. Government securities$35K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmYurchyk & Davis Cpa's, Inc.
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238100: Foundation, Structure, & Building Exterior Contractors (including framing carpentry, masonry, glass, roofing, & siding).
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Plumbers and Pipefitters Local Union 553 Pension Plan | Trustees of the Plumbers and Pipefitters Local 553 | 499 | $59.3M | $118,904 |
| Local 99 Pension Plan | Board of Trustees Local 99 Pension Plan | 432 | $57.3M | $132,616 |
| Plumbing & Heating Wholesalers Retirement Income Plan for the Benefit of Shopmen's Division of Pipe Fitters' Association, Local 597 | Shopmens Division Local 597 Joint Board of Trustees | 534 | $16.2M | $30,301 |
| Plumbers & Fitters Local 101 Restated Pension Plan | Board of Trustees of Plumbers & Fitters Local 101 Pension Plan | 407 | $88.5M | $217,338 |
| Iron Workers Local 498 Defined Benefit Plan | Trustees of the Iron Workers Local 498 Defined Benefit Plan | 549 | $33.9M | $61,767 |
| Machinery Movers, Riggers & Mach. Erect. Local 136 Supplemental Retirement Plan | Trstees Mach Mvrs,riggers&mach Erec Local 136 Supplemental Retire. Pla | 370 | $68.1M | $184,103 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Roofers Local No. 88 Pension Fund?
479 participants at the end of the plan year ending 30 Apr 2025, of whom 115 were active employees, with net assets of $24,196,678. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Roofers Local No. 88 Pension Fund Board of Trustees contribute per participant?
The filing reports $1,139,531 in employer contributions for the year, which is $9,909 per active participant; the median for plans of the same type and size was $11,032 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 $283,260 in compensation to service provider organisations, $591 per participant or 1.2% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $328,633. 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 Roofers Local No. 88 Pension Fund Board of Trustees. Recordkeeping or administration: Benefits Management Group, Inc.. Investment advisory or management: Morgan Stanley. Trustee or custodian: Morgan Stanley and Amalgomated Bank of Chicago. The financial statements were audited by Yurchyk & Davis Cpa's, Inc.. 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 1 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 34-6615264, plan 001, received 1 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.