Michigan › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Sprinkler Fitters and Apprentices Local 704 Defined Contribution Pension Fund Plan
Sponsored by Sprinkler Fitters and Apprentices Local 704, Lansing, 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 31 Dec 2024, Sprinkler Fitters and Apprentices Local 704 Defined Contribution Pension Fund Plan covered 570 participants and held $98.2M in net assets. The plan is a profit-sharing plan sponsored by Sprinkler Fitters and Apprentices Local 704 of Lansing, Michigan. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $172,245 per participant, well above the $46,267 median for defined contribution plans with 500 to 999 participants and well above the $92,294 median for defined contribution plans in finance and insurance. 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 $6.9M during the year, or $13,653 per active participant against a same-size median of $1,934; participants contributed —. Benefits paid out totalled $4.6M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $377K: $662 per participant, well above the same-size median of $113. Administrative expenses charged to the plan were $379K. 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 $4.2M in 2009 to $98.2M in 2024 (up 2254%), and participants from 497 to 570 (up 15%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $172,245 | $46,267 | $92,294 | $53,102 |
| Employer contributions per active participant | $13,653 | $1,934 | $3,564 | $2,175 |
| Schedule C compensation per participant | $662 | $113 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.38% | 0.25% | 0.17% | 0.26% |
| Administrative expenses per participant | $665 | $109 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), finance and insurance (4,391) 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 | 570 | $98.2M | $172,246 | $6.9M | — | $377K |
| 2023 | 564 | $85.6M | $151,715 | $6.9M | — | $359K |
| 2022 | 618 | $71.2M | $115,228 | $5.6M | — | $136K |
| 2021 | 584 | $81.1M | $138,788 | $5.7M | — | $332K |
| 2020 | 564 | $74.9M | $132,752 | $5.0M | — | $168K |
| 2019 | 518 | $66.2M | $127,838 | $4.3M | — | $181K |
| 2018 | 529 | $53.7M | $101,512 | $3.9M | — | $89K |
| 2017 | 486 | $58.5M | $120,284 | $3.2M | — | $100K |
| 2016 | 404 | $49.1M | $121,413 | $2.5M | — | $77K |
| 2015 | 499 | $47.8M | $95,880 | $2.3M | — | $122K |
| 2014 | 500 | $48.8M | $97,540 | $1.9M | — | $120K |
| 2013 | 343 | $18.0M | $52,601 | $1.7M | — | $74K |
| 2012 | 469 | $14.2M | $30,286 | $1.5M | — | $103K |
| 2011 | 472 | $6.5M | $13,703 | $1.4M | — | $0 |
| 2010 | 485 | $5.8M | $12,058 | $1.4M | — | $0 |
| 2009 | 497 | $4.2M | $8,392 | $1.9M | — | $98K |
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$85,566,647
- Employer contributions$6,853,969
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,853,969
- Total income, including investment results$17,573,996
- Benefits paid$4,581,784
- Administrative expenses$379,135
- Total expenses$4,960,919
- Net income$12,613,077
- Net transfers$0
- Net assets, end of year$98,179,724
Participants
- Active participants502
- Retired or separated, receiving benefits—
- Retired or separated, entitled to future benefits68
- Participants with account balances570
- Total participants, end of year570
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Advisory Group, LLC | Investment management | $207,580 | $0 |
| Empower Annuity Ins. Co. of America | Contract Administrator; Recordkeeping and information management | $58,440 | $0 |
| Merrill Lynch Wealth Management | Investment advisory (plan); Other services | $50,000 | $0 |
| Tic International Corporation | Contract Administrator; Plan Administrator | $31,100 | $0 |
| Walter, Boesky & Associates PC | Accounting (including auditing) | $15,200 | $0 |
| Massachusetts Mutual Life Insurance | Plan Administrator | $14,889 | $0 |
| American Funds | Investment management fees paid indirectly by plan | $0 | $0 |
| Janus Henderson | Investment management fees paid indirectly by plan | $0 | $0 |
| Nuveen | Investment management fees paid indirectly by plan | $0 | $0 |
| Pimco | Investment management fees paid indirectly by plan | $0 | $0 |
| Putnam | Investment management fees paid indirectly by plan | $0 | $0 |
| BlackRock | Investment management fees paid indirectly by plan | $0 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$207,580
- Legal fees$50,736
- Investment advisory and management fees$50,000
- Contract administrator fees$31,100
- Other administrative expenses$24,519
- IQPA audit fees$15,200
- Total administrative expenses$379,135
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)$88.3M · 89.9%
- Insurance company general account$8.2M · 8.3%
- Receivables$1.1M · 1.1%
- Cash (interest and non-interest bearing)$611K · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWalter, Boesky & Associates P.c.w
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2KCode section 401(m) arrangement2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Hastings Insurance 401(k) Retirement Plan | Hastings Insurance Company | 576 | $67.6M | $117,385 |
| Honor Credit Union 401(k) Plan | Honor Credit Union | 531 | $40.9M | $76,984 |
| Dort Financial Credit Union Employees Deferred Compensation Plan | Dort Financial Credit Union | 606 | $38.4M | $63,398 |
| Consumers Credit Union 401(k) Savings Plan | Consumers Credit Union | 497 | $50.0M | $100,665 |
| Greenpath, Inc. 403(b) Retirement Plan | Greenpath, Inc. | 613 | $50.5M | $82,394 |
| Neca-Ibew Local Union 1701 Pension Benefit Trust Fund | Joint Board of Trustees of Neca IBEW Local 1701 Pen. Ben. TRST Fun | 495 | $72.5M | $146,488 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Sprinkler Fitters and Apprentices Local 704 Defined Contribution Pension Fund Plan?
570 participants at the end of the plan year ending 31 Dec 2024, of whom 502 were active employees, with net assets of $98,179,724. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Sprinkler Fitters and Apprentices Local 704 contribute per participant?
The filing reports $6,853,969 in employer contributions for the year, which is $13,653 per active participant; the median for plans of the same type and size was $1,934 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 $377,209 in compensation to service provider organisations, $662 per participant or 0.38% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $379,135. 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 Sprinkler Fitters and Apprentices Local 704. Recordkeeping or administration: Empower Annuity Ins. Co. of America, Tic International Corporation and Massachusetts Mutual Life Insurance. Investment advisory or management: Empower Advisory Group, LLC and Merrill Lynch Wealth Management. The financial statements were audited by Walter, Boesky & Associates P.c.w. 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 Oct 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 35-2328542, plan 001, received 15 Oct 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.