Illinois › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
Smart Local 265 Supplemental Retirement Savings Plan
Sponsored by Board of Trustees-Smart Local 265 Supp Ret SVGS Plan, Downers Grove, 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 May 2025, Smart Local 265 Supplemental Retirement Savings Plan covered 2,490 participants and held $378M in net assets. The plan is a 401(k) plan sponsored by Board of Trustees-Smart Local 265 Supp Ret SVGS Plan of Downers Grove, Illinois. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $151,731 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well 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 $21.4M during the year, or $8,610 per active participant against a same-size median of $2,045; participants contributed $838K and $330K arrived as rollovers and other contributions. Benefits paid out totalled $15.9M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $248K: $99.68 per participant, above the same-size median of $82.08. Administrative expenses charged to the plan were $622K. 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 $138M in 2009 to $378M in 2024 (up 173%), and participants from 3,037 to 2,490 (down 18%).
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 | $151,731 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $8,610 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $99.68 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.07% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $250 | $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 | 2,490 | $378M | $151,731 | $21.4M | $838K | $248K |
| 2023 | 2,467 | $346M | $140,399 | $21.4M | $725K | $218K |
| 2022 | 2,480 | $302M | $121,856 | $20.8M | $532K | $196K |
| 2021 | 2,526 | $291M | $115,123 | $18.7M | $159K | $169K |
| 2020 | 2,540 | $294M | $115,907 | $17.6M | — | $339K |
| 2019 | 2,542 | $238M | $93,764 | $17.0M | — | $318K |
| 2018 | 2,523 | $219M | $86,901 | $15.1M | — | $287K |
| 2017 | 2,533 | $208M | $82,168 | $13.6M | — | $171K |
| 2016 | 2,493 | $194M | $77,635 | $11.7M | — | $154K |
| 2015 | 2,495 | $178M | $71,303 | $10.1M | — | $125K |
| 2014 | 2,504 | $174M | $69,385 | $9.3M | — | $113K |
| 2013 | 2,525 | $165M | $65,353 | $8.6M | — | $84K |
| 2012 | 2,583 | $156M | $60,415 | $8.1M | — | $91K |
| 2011 | 2,687 | $146M | $54,495 | $8.2M | — | $116K |
| 2010 | 2,836 | $146M | $51,367 | $8.8M | — | $106K |
| 2009 | 3,037 | $138M | $45,596 | $9.9M | — | $133K |
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$346,364,775
- Employer contributions$21,437,998
- Participant contributions$837,594
- Rollovers and other contributions$330,180
- Total contributions$22,605,772
- Total income, including investment results$47,959,874
- Benefits paid$15,892,376
- Administrative expenses$622,152
- Total expenses$16,514,528
- Net income$31,445,346
- Net transfers$0
- Net assets, end of year$377,810,121
Participants
- Active participants2,490
- Retired or separated, receiving benefits—
- Retired or separated, entitled to future benefits—
- Participants with account balances2,490
- Total participants, end of year2,490
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock Retirement Plan Servic | Recordkeeping and information management | $149,897 | $0 |
| Calibre CPA Group, PLLC | Accounting (including auditing) | $46,410 | $0 |
| Bridgeway Benefit Technologies | Other services | $25,250 | $0 |
| The Segal Company | Consulting (pension) | $15,607 | $0 |
| Segal Select Ins. Services | Insurance brokerage commissions and fees | $0 | $6,032 |
| Morgan Stanley Smith Barney | Investment advisory (plan) | $5,000 | $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
- Salaries and allowances$173,977
- Other administrative expenses$163,224
- Contract administrator fees$149,897
- Legal fees$83,644
- Recordkeeping fees$27,910
- IQPA audit fees$18,500
- Investment advisory and management fees$5,000
- Total administrative expenses$622,152
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$280M · 74.2%
- Registered investment companies (mutual funds)$93.1M · 24.6%
- Receivables$2.2M · 0.6%
- Cash (interest and non-interest bearing)$2.1M · 0.6%
- Buildings and other property used in plan operation$59K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- 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
2CMoney purchase (other than target benefit) plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2TTotal 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 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Roadsafe Traffic Systems, Inc. 401(k) Plan | Roadsafe Traffic Systems | 2,546 | $59.5M | $23,376 |
| Cement Masons' Local 502 and Plasterers' Area 5 an | Trustees of Cement Masons' Local 502 and Plasterers' Area 5 Annuity Fu | 2,479 | $77.7M | $31,343 |
| Operating Engineers Local 649 Annuity Trust Fund | Board of Trustees Operating Engineers Local 649 Annuity Trust Fund | 2,617 | $123M | $46,925 |
| Crystal Clean, LLC Retirement Savings Plan | Crystal Clean, LLC | 2,473 | $122M | $49,246 |
| Local Union No. 9 IBEW and Outside Contractors Defined Contribution Pension Fund | Trustees of IBEW Local 9 IBEW and Outside Contractors DC Pension Fund | 2,810 | $525M | $186,868 |
| Neca-Ibew Local 176 Pension Trust Fund | Trustees of the Neca-Ibew Local 176 Pension Trust Fund | 2,166 | $724M | $334,216 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Smart Local 265 Supplemental Retirement Savings Plan?
2,490 participants at the end of the plan year ending 31 May 2025, of whom 2,490 were active employees, with net assets of $377,810,121. 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-Smart Local 265 Supp Ret SVGS Plan contribute per participant?
The filing reports $21,437,998 in employer contributions for the year, which is $8,610 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 $248,196 in compensation to service provider organisations, $99.68 per participant or 0.07% 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 $622,152. 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-Smart Local 265 Supp Ret SVGS Plan. Recordkeeping or administration: John Hancock Retirement Plan Servic. Investment advisory or management: Morgan Stanley Smith Barney. The financial statements were audited by Calibre CPA Group, 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. 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 9 Mar 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 36-3911499, plan 002, received 9 Mar 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.