Illinois › Wholesale trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Local 703, I.b of T., Grocery & Food Employees' Pension Plan
Sponsored by Trustees of Local 703, I.B. of T., Grocery & Food Employees' Pension P, Oak Brook, 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.
Trustees of Local 703, I.B. of T., Grocery & Food Employees' Pension P of Oak Brook, Illinois sponsors Local 703, I.b of T., Grocery & Food Employees' Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Oct 2025 shows 1,498 participants (244 active) and $170M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $113,517 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $61,809 median for defined benefit plans in wholesale trade. 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 $6.7M for the year ($27,502 per active participant) and benefits paid were $9.2M. 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 9 service provider organisations paid $5,000 or more, with reported compensation of $721K: $481 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $833K. 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 $75.1M in 2009 to $170M in 2024 (up 126%), and participants from 1,568 to 1,498 (down 4%).
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 | $113,517 | $87,935 | $61,809 | $86,221 |
| Employer contributions per active participant | $27,502 | $10,593 | $8,409 | $10,244 |
| Schedule C compensation per participant | $481 | $325 | $346 | $344 |
| Schedule C compensation, share of net assets | 0.42% | 0.41% | 0.54% | 0.42% |
| Administrative expenses per participant | $556 | $513 | $540 | $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), wholesale trade (157) 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 | 1,498 | $170M | $113,517 | $6.7M | — | $721K |
| 2023 | 1,495 | $152M | $101,947 | $6.2M | — | $705K |
| 2022 | 1,490 | $132M | $88,873 | $5.9M | — | $666K |
| 2021 | 1,494 | $130M | $86,721 | $5.2M | — | $775K |
| 2020 | 1,519 | $149M | $98,219 | $4.6M | — | $816K |
| 2019 | 1,531 | $118M | $76,991 | $4.3M | — | $879K |
| 2018 | 1,536 | $133M | $86,449 | $4.6M | — | $757K |
| 2017 | 1,537 | $126M | $81,671 | $4.0M | — | $719K |
| 2016 | 1,554 | $129M | $82,941 | $6.0M | — | $664K |
| 2015 | 1,563 | $116M | $74,058 | $6.7M | — | $534K |
| 2014 | 1,573 | $111M | $70,470 | $6.4M | — | $524K |
| 2013 | 1,565 | $109M | $69,449 | $6.2M | — | $447K |
| 2012 | 1,562 | $100.0M | $64,002 | $6.2M | — | $378K |
| 2011 | 1,550 | $87.7M | $56,597 | $6.4M | — | $472K |
| 2010 | 1,555 | $80.0M | $51,478 | $6.3M | — | $419K |
| 2009 | 1,568 | $75.1M | $47,899 | $6.0M | — | $435K |
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$152,411,353
- Employer contributions$6,710,450
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,710,450
- Total income, including investment results$27,691,350
- Benefits paid$9,221,837
- Administrative expenses$832,724
- Total expenses$10,054,561
- Net income$17,636,789
- Net transfers$0
- Net assets, end of year$170,048,142
Participants
- Active participants244
- Retired or separated, receiving benefits517
- Retired or separated, entitled to future benefits588
- Total participants, end of year1,498
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alan D. Biller and Associates, Inc. | Investment advisory (plan) | $155,078 | $0 |
| Benefit Management Group, Inc. | Claims processing; Contract Administrator; Copying and duplicating | $96,668 | $0 |
| Laner Muchin, Ltd. | Legal | $87,930 | $0 |
| National Investment Services | Investment management | $84,995 | $0 |
| American Realty Advisors | Investment management | $68,458 | $0 |
| Amalgamated Bank of Chicago | Custodial (securities) | $68,399 | $0 |
| The Segal Company | Actuarial | $67,974 | $0 |
| Arrowstreet Capital LP | Investment management | $52,151 | $0 |
| Legacy Professionals LLP | Accounting (including auditing) | $39,500 | $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$363,319
- Legal fees$107,571
- Contract administrator fees$93,700
- Other administrative expenses$86,003
- Trustee and custodial fees$68,399
- Actuarial fees$67,974
- IQPA audit fees$39,500
- Other trustee fees and expenses$6,258
- Total administrative expenses$832,724
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$86.4M · 50.7%
- Partnership/joint venture interests$37.8M · 22.2%
- Registered investment companies (mutual funds)$14.8M · 8.7%
- 103-12 investment entities$12.4M · 7.3%
- Corporate debt instruments$6.2M · 3.6%
- U.S. Government securities$5.9M · 3.5%
- Other investments$4.0M · 2.3%
- Cash (interest and non-interest bearing)$2.0M · 1.2%
- Receivables$734K · 0.4%
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, $1,000,000
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 424400: Grocery & Related Products.
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Essendant Pension Plan | Essendant Co. | 1,889 | $65.7M | $34,763 |
| Essendant Union Employees' Pension Plan | Essendant Co. | 957 | $56.5M | $59,010 |
| Beer Industry - Local Union No. 703 Pension Fund | Beer Industry - Local Union No. 703 Pension Fund Trustees | 2,061 | $125M | $60,491 |
| Liquor and Allied Workers Union Local No. 3 Pension Fund | Trustees of Liquor & Allied Workers Union Local No. 3 Pension Fund | 757 | $32.9M | $43,521 |
| Univar Solutions Retirement Plan | Univar Solutions USA LLC. | 2,337 | $353M | $150,980 |
| True Value Company Defined Lump Sum Pension Plan | True Value Company | 652 | $22.4M | $34,338 |
Defined benefit plans in wholesale trade closest in size.
Questions and answers
How big is Local 703, I.b of T., Grocery & Food Employees' Pension Plan?
1,498 participants at the end of the plan year ending 31 Oct 2025, of whom 244 were active employees, with net assets of $170,048,142. 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 Trustees of Local 703, I.B. of T., Grocery & Food Employees' Pension P contribute per participant?
The filing reports $6,710,450 in employer contributions for the year, which is $27,502 per active participant; the median for plans of the same type and size was $10,593 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 $721,153 in compensation to service provider organisations, $481 per participant or 0.42% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $832,724. 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 Trustees of Local 703, I.B. of T., Grocery & Food Employees' Pension P. Recordkeeping or administration: Benefit Management Group, Inc.. Investment advisory or management: Alan D. Biller and Associates, Inc., National Investment Services and American Realty Advisors. Trustee or custodian: Amalgamated Bank of Chicago. 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 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 17 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 36-6491473, plan 001, received 17 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.