Illinois › Manufacturing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Kone Inc. Employees' Retirement Plan
Sponsored by Kone Inc., Lisle, 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 31 Dec 2024, Kone Inc. Employees' Retirement Plan covered 3,058 participants and held $166M in net assets. The plan is a cash balance pension plan sponsored by Kone Inc. of Lisle, Illinois.
Net assets came to $54,401 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and 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 6 service provider organisations paid $5,000 or more, with reported compensation of $1.6M: $536 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.6M. 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 $80.0M in 2009 to $166M in 2024 (up 108%), and participants from 3,077 to 3,058 (down 1%).
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 | $54,401 | $87,935 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $6,915 | $10,244 |
| Schedule C compensation per participant | $536 | $325 | $299 | $344 |
| Schedule C compensation, share of net assets | 0.99% | 0.41% | 0.47% | 0.42% |
| Administrative expenses per participant | $536 | $513 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 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 | 3,058 | $166M | $54,401 | — | — | $1.6M |
| 2023 | 2,998 | $168M | $56,058 | $10.6M | — | $1.1M |
| 2022 | 2,907 | $159M | $54,565 | $17.7M | — | $1.2M |
| 2021 | 2,769 | $190M | $68,502 | $20.2M | — | $1.0M |
| 2020 | 2,745 | $172M | $62,825 | $6.8M | — | $1.0M |
| 2019 | 3,329 | $177M | $53,083 | $6.9M | — | $983K |
| 2018 | 3,265 | $154M | $47,110 | $8.3M | — | $978K |
| 2017 | 3,186 | $160M | $50,196 | $8.3M | — | $907K |
| 2016 | 3,090 | $143M | $46,198 | $22.4M | — | $1.2M |
| 2015 | 3,377 | $134M | $39,574 | $6.3M | — | $1.0M |
| 2014 | 3,221 | $141M | $43,702 | $5.8M | — | $792K |
| 2013 | 3,128 | $132M | $42,050 | $3.2M | — | $523K |
| 2012 | 3,057 | $127M | $41,536 | $21.8M | — | $522K |
| 2010 | 3,062 | $90.4M | $29,528 | $4.3M | — | $427K |
| 2009 | 3,077 | $80.0M | $25,983 | $1.4M | — | $552K |
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$168,060,820
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$7,147,065
- Benefits paid$7,210,818
- Administrative expenses$1,640,276
- Total expenses$8,851,094
- Net income−$1,704,029
- Net transfers$0
- Net assets, end of year$166,356,791
Participants
- Active participants1,769
- Retired or separated, receiving benefits292
- Retired or separated, entitled to future benefits920
- Total participants, end of year3,058
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting, Inc. | Actuarial; Recordkeeping and information management; Consulting (pension) | $1,062,395 | $0 |
| Aon Investment USA Inc. | Investment management | $276,163 | $0 |
| McDermott Will & Emery LLP | Legal | $177,478 | $0 |
| Principal Trust Company | Trustee (directed) | $83,362 | $0 |
| Plante & Moran, PLLC | Accounting (including auditing) | $23,300 | $0 |
| Blooming Color Inc. | Copying and duplicating | $17,578 | $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
- Investment advisory and management fees$980,735
- Actuarial fees$357,823
- Legal fees$177,478
- Trustee and custodial fees$83,362
- IQPA audit fees$23,300
- Other administrative expenses$17,578
- Total administrative expenses$1,640,276
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$163M · 97.9%
- Cash (interest and non-interest bearing)$3.5M · 2.1%
- Receivables$7,952 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmPlante & Moran, PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the year—
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 related1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar plan3HPlan sponsor(s) is (are) a member(s) of a controlled group1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 333900: Other General Purpose Machinery Mfg.
Other plans of Kone Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Kone Inc. Employee Savings Plan | 2,602 | $467M |
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Schneider Electric USA, Inc. Coordinated Bargaining Employees' Pension Plan | Schneider Electric Holdings, Inc. | 3,285 | $230M | $69,883 |
| Instant Brands Pension Plan | Instant Brands Holdings, Inc. | 2,917 | $97.1M | $33,284 |
| Legacy Allergan, Inc. Pension Plan | Allergan, Inc. | 3,331 | $618M | $185,479 |
| Ingredion Pension Plan | Ingredion Incorporated | 2,706 | $316M | $116,647 |
| Tate & Lyle Salaried Pension Plan | Tate & Lyle Americas, Inc. | 3,340 | $389M | $116,371 |
| International Motors, LLC Salaried Employees Pension Plan | International Motors, LLC | 2,634 | $408M | $154,739 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Kone Inc. Employees' Retirement Plan?
3,058 participants at the end of the plan year ending 31 Dec 2024, of whom 1,769 were active employees, with net assets of $166,356,791. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Kone Inc. 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 $1,640,276 in compensation to service provider organisations, $536 per participant or 0.99% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,640,276. 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 Kone Inc.. Recordkeeping or administration: Aon Consulting, Inc.. Investment advisory or management: Aon Investment USA Inc.. Trustee or custodian: Principal Trust Company. The financial statements were audited by Plante & Moran, PLLC. 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 29 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 36-2357423, plan 001, received 29 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.