Wisconsin › Information › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Telephone and Data Systems, Inc. Pension Plan
Sponsored by Telephone and Data Systems, Inc., Madison, WI
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 2025, Telephone and Data Systems, Inc. Pension Plan covered 6,330 participants and held $459M in net assets. The plan is a money purchase plan sponsored by Telephone and Data Systems, Inc. of Madison, Wisconsin.
Net assets came to $62,192 per participant in plan year 2024, close to the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and below the $67,311 median for defined contribution plans in information. 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 $7.3M during the year, or $5,345 per active participant against a same-size median of $2,424; participants contributed —. Benefits paid out totalled $131M.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $497K: $78.48 per participant, above the same-size median of $53.38. Administrative expenses charged to the plan were $523K. 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 $207M in 2009 to $459M in 2025 (up 122%), and participants from 12,711 to 6,330 (down 50%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $62,192 | $64,499 | $67,311 | $53,102 |
| Employer contributions per active participant | $3,393 | $2,424 | $2,928 | $2,175 |
| Schedule C compensation per participant | $57.22 | $53.38 | $121 | $123 |
| Schedule C compensation, share of net assets | 0.09% | 0.09% | 0.19% | 0.26% |
| Administrative expenses per participant | $62.59 | $54.85 | $116 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), information (1,830) 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 |
|---|---|---|---|---|---|---|
| 2025 | 6,330 | $459M | $72,570 | $7.3M | — | $497K |
| 2024 | 8,192 | $509M | $62,192 | $16.8M | — | $469K |
| 2023 | 8,628 | $471M | $54,613 | $16.5M | — | $425K |
| 2022 | 8,550 | $414M | $48,428 | $16.7M | — | $460K |
| 2021 | 8,660 | $491M | $56,668 | $16.6M | — | $440K |
| 2020 | 9,103 | $443M | $48,690 | $16.6M | — | $429K |
| 2019 | 12,525 | $394M | $31,425 | $16.3M | — | $559K |
| 2018 | 9,410 | $333M | $35,383 | $16.4M | — | $499K |
| 2017 | 9,041 | $366M | $40,462 | $16.2M | — | $536K |
| 2016 | 9,775 | $324M | $33,141 | $16.5M | — | $552K |
| 2015 | 9,773 | $299M | $30,572 | $16.3M | — | $471K |
| 2014 | 9,916 | $305M | $30,742 | $15.6M | — | $55K |
| 2013 | 8,573 | $297M | $34,588 | $16.6M | — | $60K |
| 2012 | 9,647 | $265M | $27,444 | $18.5M | — | $52K |
| 2011 | 11,821 | $233M | $19,691 | $17.7M | — | $26K |
| 2010 | 13,128 | $234M | $17,819 | $17.7M | — | $63K |
| 2009 | 12,711 | $207M | $16,282 | $17.9M | — | $94K |
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$509,478,646
- Employer contributions$7,349,754
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$7,349,754
- Total income, including investment results$81,045,453
- Benefits paid$130,635,544
- Administrative expenses$523,317
- Total expenses$131,158,861
- Net income−$50,113,408
- Net transfers$0
- Net assets, end of year$459,365,238
Participants
- Active participants1,375
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits4,937
- Participants with account balances6,200
- Total participants, end of year6,330
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting | Recordkeeping and information management; Consulting (pension) | $350,044 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution); Trustee (directed); Investment management | $60,655 | $0 |
| Aon Investments USA Inc. | Consulting (pension); Investment management | $44,431 | $0 |
| BlackRock Institutional Trust | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $41,624 | $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
- Actuarial fees$350,044
- Trustee and custodial fees$87,218
- Contract administrator fees$44,431
- Investment advisory and management fees$41,624
- Total administrative expenses$523,317
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$362M · 78.7%
- Registered investment companies (mutual funds)$91.5M · 19.9%
- Receivables$6.4M · 1.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBDO Usa,p.c.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
2BTarget benefit plan2CMoney purchase (other than target benefit) plan3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 517000: Telecommunications (including paging, cellular, satellite, cable & other program distribution, resellers, other telecommunications, & internet service providers).
Other plans of Telephone and Data Systems, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Telephone and Data Systems, Inc. Tax-Deferred Savings Plan | 12,108 | $1.59B |
Similar plans in Wisconsin
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Telephone and Data Systems, Inc. Tax-Deferred Savings Plan | Telephone and Data Systems, Inc. | 12,108 | $1.59B | $131,242 |
| Renaissance Learning, Inc. 401(k) Savings Plan | Renaissance Learning, Inc. | 2,353 | $217M | $92,348 |
| Alta Resources Corp. 401(k) Savings & Retirement Plan | Alta Resources Corp. | 2,050 | $74.9M | $36,537 |
| Northeast Communications of Wi, Inc. DBA Nsight | Northeast Communications of Wi, Inc. DBA Nsight | 1,112 | $113M | $101,560 |
| Morgan Murphy Media Savings & Profit Sharing Plan | Television Wisconsin, Inc. | 988 | $61.8M | $62,552 |
| Skyward, Inc. 401(k) Plan | Skyward, Inc. | 837 | $124M | $147,980 |
Defined contribution plans in information closest in size.
Questions and answers
How big is Telephone and Data Systems, Inc. Pension Plan?
6,330 participants at the end of the plan year ending 31 Dec 2025, of whom 1,375 were active employees, with net assets of $459,365,238. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Telephone and Data Systems, Inc. contribute per participant?
The filing reports $7,349,754 in employer contributions for the year, which is $5,345 per active participant; the median for plans of the same type and size was $2,424 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 $496,754 in compensation to service provider organisations, $78.48 per participant or 0.11% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $523,317. 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 Telephone and Data Systems, Inc.. Recordkeeping or administration: Aon Consulting. Investment advisory or management: Northern Trust Company, Aon Investments USA Inc. and BlackRock Institutional Trust. Trustee or custodian: Northern Trust Company and BlackRock Institutional Trust. The financial statements were audited by BDO Usa,p.c.. 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 2025 to 31 Dec 2025, received by the Department of Labor on 4 Aug 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 36-2669023, plan 008, received 4 Aug 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.