Illinois › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Carpenters Pension Fund of Illinois
Sponsored by Board of Trustees of Carpenters Pension Fund of Illinois, 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 Dec 2024, Carpenters Pension Fund of Illinois covered 17,735 participants and held $2.23B in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees of Carpenters Pension Fund of Illinois of Downers Grove, Illinois. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $125,643 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and close to the $119,983 median for defined benefit 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.
Employer contributions were $115M for the year ($22,941 per active participant) and benefits paid were $191M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $9.9M: $557 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $12.1M. 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 $1.28B in 2009 to $2.23B in 2024 (up 74%), and participants from 18,246 to 17,735 (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 | $125,643 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | $22,941 | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $557 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.44% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $683 | $396 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), finance and insurance (690) 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 | 17,735 | $2.23B | $125,643 | $115M | — | $9.9M |
| 2023 | 17,673 | $2.11B | $119,510 | $113M | — | $10.3M |
| 2022 | 17,536 | $2.03B | $115,913 | $101M | — | $12.2M |
| 2021 | 17,610 | $2.36B | $134,097 | $95.4M | — | $14.3M |
| 2020 | 17,614 | $2.11B | $119,951 | $86.4M | — | $16.1M |
| 2019 | 17,774 | $2.03B | $114,158 | $95.3M | — | $12.1M |
| 2018 | 17,780 | $1.85B | $104,069 | $93.9M | — | $12.3M |
| 2017 | 17,650 | $1.98B | $112,076 | $85.7M | — | $6.7M |
| 2016 | 17,897 | $1.82B | $101,644 | $86.9M | — | $6.6M |
| 2015 | 17,900 | $1.74B | $97,273 | $85.4M | — | $4.4M |
| 2014 | 17,890 | $1.78B | $99,331 | $82.7M | — | $8.3M |
| 2013 | 17,856 | $1.72B | $96,367 | $75.2M | — | $6.6M |
| 2012 | 17,979 | $1.55B | $86,445 | $71.1M | — | $7.0M |
| 2011 | 17,953 | $1.42B | $79,186 | $66.8M | — | $7.1M |
| 2010 | 18,318 | $1.42B | $77,710 | $57.4M | — | $7.6M |
| 2009 | 18,246 | $1.28B | $70,144 | $53.0M | — | $8.6M |
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$2,112,094,388
- Employer contributions$115,415,780
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$115,415,780
- Total income, including investment results$319,416,521
- Benefits paid$191,130,386
- Administrative expenses$12,104,587
- Total expenses$203,234,973
- Net income$116,181,548
- Net transfers$0
- Net assets, end of year$2,228,275,936
Participants
- Active participants5,031
- Retired or separated, receiving benefits7,430
- Retired or separated, entitled to future benefits3,662
- Total participants, end of year17,735
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Blackstone Tactical Opp. FD III LP | Investment management | $2,216,385 | $0 |
| GCM Grosvenor Co-Investment Opp Fun | Investment management | $0 | $1,033,607 |
| Blackstone Tactical Opp. FD IV LP | Investment management | $1,031,582 | $0 |
| Wilson-McShane Corporation | Contract Administrator | $925,070 | $0 |
| American Realty Advisors | Investment management | $624,717 | $0 |
| LSV Asset Management | Investment management | $448,171 | $0 |
| Lord, Abbett & Co. LLC | Investment management | $436,992 | $0 |
| New Tower Trust Company | Investment management | $419,239 | $0 |
| Ariel Capital Management | Investment management | $391,392 | $0 |
| Interncontinental Real Estate Corp. | Investment management | $351,754 | $0 |
| Segal Marcos Advisors | Investment advisory (plan) | $344,961 | $0 |
| Parametric Portfolio Assoc, LLC | Investment management | $289,938 | $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
- Investment advisory and management fees$9,326,793
- Other administrative expenses$890,396
- Contract administrator fees$842,500
- Actuarial fees$351,374
- Recordkeeping fees$240,458
- Legal fees$235,244
- Other trustee fees and expenses$156,512
- IQPA audit fees$61,310
- Total administrative expenses$12,104,587
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$1.12B · 49.1%
- Partnership/joint venture interests$787M · 34.5%
- Cash (interest and non-interest bearing)$84.2M · 3.7%
- U.S. Government securities$71.8M · 3.2%
- Registered investment companies (mutual funds)$68.0M · 3.0%
- Corporate stocks$54.3M · 2.4%
- Corporate debt instruments$30.5M · 1.3%
- Pooled separate accounts$30.1M · 1.3%
- Other investments$23.7M · 1.0%
- Receivables$10.7M · 0.5%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMacnell Accounting & Consulting,llp
- 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
1ABenefits are primarily pay related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| BMO U.S. Pension Plan | BMO Financial Corp. | 18,124 | $1.25B | $68,839 |
| Discover Financial Services Pension Plan | Discover Financial Services | 11,889 | $482M | $40,531 |
| Zurich American Insurance Company Retirement Account Plan | Zurich American Insurance Company | 18,921 | $1.20B | $63,657 |
| Arthur J. Gallagher & Co. Employees' Pension Plan | Arthur J. Gallagher (Illinois), LLC | 5,137 | $313M | $60,991 |
| State Farm Insurance Companies Retirement Plan for United States Employees | State Farm Mutual Automobile Insurance Company | 114,467 | $37.7B | $329,660 |
| Old Republic International Employees Retirement Plan | Old Republic International Corp. | 4,693 | $519M | $110,648 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Carpenters Pension Fund of Illinois?
17,735 participants at the end of the plan year ending 31 Dec 2024, of whom 5,031 were active employees, with net assets of $2,228,275,936. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Board of Trustees of Carpenters Pension Fund of Illinois contribute per participant?
The filing reports $115,415,780 in employer contributions for the year, which is $22,941 per active participant; the median for plans of the same type and size was $9,468 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 $9,873,545 in compensation to service provider organisations, $557 per participant or 0.44% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $12,104,587. 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 of Carpenters Pension Fund of Illinois. Recordkeeping or administration: Wilson-McShane Corporation. Investment advisory or management: Blackstone Tactical Opp. FD III LP, GCM Grosvenor Co-Investment Opp Fun and Blackstone Tactical Opp. FD IV LP. The financial statements were audited by Macnell Accounting & Consulting,llp. 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 10 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 36-6147396, plan 001, received 10 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.