Minnesota › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
National Roofing Industry Pension Fund
Sponsored by National Roofing Industry Pension Fund Wilson-McShane Corporation, Bloomington, MN
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.
National Roofing Industry Pension Fund Wilson-McShane Corporation of Bloomington, Minnesota sponsors National Roofing Industry Pension Fund, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 33,418 participants (14,507 active) and $2.39B in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $64,009 per participant in plan year 2024, well below the $88,040 median for defined benefit plans with 25,000 or more participants and well below the $100,593 median for defined benefit 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.
Employer contributions were $66.2M for the year ($4,563 per active participant) and benefits paid were $121M. 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 $5.8M: $175 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $9.5M. 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 $1.09B in 2009 to $2.39B in 2025 (up 119%), and participants from 27,402 to 33,418 (up 22%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $64,009 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $4,175 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $180 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.28% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $282 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), construction (655) 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 |
|---|---|---|---|---|---|---|
| 2025 | 33,418 | $2.39B | $71,477 | $66.2M | — | $5.8M |
| 2024 | 33,266 | $2.13B | $64,009 | $61.0M | — | $6.0M |
| 2023 | 31,233 | $1.97B | $63,232 | $57.3M | — | $5.2M |
| 2022 | 30,860 | $1.83B | $59,295 | $48.6M | — | $6.6M |
| 2021 | 31,499 | $2.17B | $68,783 | $43.0M | — | $6.4M |
| 2020 | 31,662 | $1.98B | $62,515 | $43.5M | — | $5.3M |
| 2019 | 30,753 | $1.86B | $60,480 | $43.2M | — | $6.3M |
| 2017 | 29,498 | $1.76B | $59,644 | $38.6M | — | $6.2M |
| 2016 | 28,932 | $1.57B | $54,317 | $35.9M | — | $5.7M |
| 2015 | 29,139 | $1.50B | $51,609 | $33.6M | — | $6.6M |
| 2014 | 28,449 | $1.56B | $54,860 | $31.5M | — | $6.6M |
| 2013 | 27,737 | $1.51B | $54,537 | $29.1M | — | $7.2M |
| 2012 | 26,842 | $1.34B | $49,838 | $29.6M | — | $6.8M |
| 2011 | 27,328 | $1.18B | $43,339 | $30.3M | — | $7.4M |
| 2010 | 27,144 | $1.22B | $44,867 | $29.2M | — | $7.5M |
| 2009 | 27,402 | $1.09B | $39,817 | $32.3M | — | $6.3M |
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$2,129,333,021
- Employer contributions$66,199,104
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$66,199,104
- Total income, including investment results$389,300,708
- Benefits paid$120,547,558
- Administrative expenses$9,479,385
- Total expenses$130,026,943
- Net income$259,273,765
- Net transfers$0
- Net assets, end of year$2,388,606,786
Participants
- Active participants14,507
- Retired or separated, receiving benefits8,136
- Retired or separated, entitled to future benefits8,805
- Total participants, end of year33,418
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Ullico Investment Advisors | Investment management | $1,452,489 | $0 |
| Union Labor Life Insurance Company | Investment management | $690,082 | $0 |
| The Boston Company | Investment management | $542,317 | $0 |
| LSV Asset Management | Investment management | $538,238 | $0 |
| Scout Investments | Investment management | $488,630 | $0 |
| Castleark Management, LLC | Investment management | $480,319 | $0 |
| Horizon Actuarial Services | Actuarial | $419,942 | $14,893 |
| Legacy Professionals LLP | Recordkeeping and information management; Accounting (including auditing) | $258,834 | $8,129 |
| State Street Global Advisors | Investment management | $170,369 | $0 |
| Callan LLC | Investment advisory (plan) | $165,016 | $4,838 |
| M&T Bank | Custodial (securities); Investment management | $167,022 | $0 |
| Kirkland & Ellis LLP | Legal | $120,589 | $6,583 |
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$4,569,642
- Contract administrator fees$1,812,549
- Other administrative expenses$1,658,177
- Legal fees$442,325
- Actuarial fees$421,458
- Recordkeeping fees$231,888
- Trustee and custodial fees$192,662
- IQPA audit fees$121,250
- Other trustee fees and expenses$29,434
- Total administrative expenses$9,479,385
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$1.16B · 48.4%
- Partnership/joint venture interests$370M · 15.5%
- Corporate stocks$292M · 12.2%
- Registered investment companies (mutual funds)$256M · 10.7%
- Pooled separate accounts$149M · 6.2%
- 103-12 investment entities$107M · 4.5%
- Cash (interest and non-interest bearing)$43.8M · 1.8%
- Receivables$15.5M · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmLegacy Professionals LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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
1ABenefits are primarily pay related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Other plans of National Roofing Industry Pension Fund Wilson-McShane Corporation
| Plan | Participants | Net assets |
|---|---|---|
| National Roofing Industry Supplemental Pension Plan | 9,884 | $296M |
Similar plans in Minnesota
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Minnesota Laborers Pension Fund | Board of Trustees of Minnesota Laborers Pension Fund | 21,655 | $3.19B | $147,506 |
| Twin City Carpenters and Joiners Pension Fund | Board of Trustees of the Twin City Carpenters and Joiners Pension Fund | 18,016 | $2.01B | $111,431 |
| Pipe Trades Services MN Pension Fund | Trustees of the Pipe Trades Services MN Pension Trust | 9,553 | $1.57B | $164,019 |
| Sheet Metal Workers' Local 10 Pension Fund | Trustees of Sheet Metal Workers' Local 10 Pension Fund | 5,408 | $406M | $75,086 |
| Electrical Workers Local No. 292 Pension Plan | Trustees Electrical Workers Local NO.292 Pension Plan | 5,243 | $447M | $85,336 |
| Minnesota & North Dakota Bricklayers and Allied Craftworkers Pension Fund | Trustees of Minnesota & North Dakota Bricklayers & Allied Craftworkers | 3,492 | $481M | $137,687 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is National Roofing Industry Pension Fund?
33,418 participants at the end of the plan year ending 31 Dec 2025, of whom 14,507 were active employees, with net assets of $2,388,606,786. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does National Roofing Industry Pension Fund Wilson-McShane Corporation contribute per participant?
The filing reports $66,199,104 in employer contributions for the year, which is $4,563 per active participant; the median for plans of the same type and size was $6,524 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 $5,837,339 in compensation to service provider organisations, $175 per participant or 0.24% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $9,479,385. 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 National Roofing Industry Pension Fund Wilson-McShane Corporation. Recordkeeping or administration: Legacy Professionals LLP. Investment advisory or management: Ullico Investment Advisors, Union Labor Life Insurance Company and The Boston Company. Trustee or custodian: M&T Bank. The financial statements were audited by Legacy Professionals 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 2025 to 31 Dec 2025, received by the Department of Labor on 24 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 36-6157071, plan 001, received 24 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.