Illinois › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Teamsters' Local 301 Pension Plan
Sponsored by Trustees of Teamsters Local 301, Waukegan, 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 2025, Teamsters' Local 301 Pension Plan covered 2,907 participants and held $484M in net assets. The plan is a defined benefit pension plan sponsored by Trustees of Teamsters Local 301 of Waukegan, Illinois. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $159,478 per participant in plan year 2024, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $15.4M for the year ($17,544 per active participant) and benefits paid were $28.3M. 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 11 service provider organisations paid $5,000 or more, with reported compensation of $1.4M: $492 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $3.0M. 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 $283M in 2009 to $484M in 2025 (up 71%), and participants from 2,130 to 2,907 (up 36%).
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 | $159,478 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $17,460 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $471 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.29% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $1,084 | $513 | $650 | $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), transportation and warehousing (227) 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 | 2,907 | $484M | $166,455 | $15.4M | — | $1.4M |
| 2024 | 2,835 | $452M | $159,478 | $13.9M | — | $1.3M |
| 2023 | 2,818 | $429M | $152,240 | $12.8M | — | $1.1M |
| 2022 | 2,806 | $404M | $144,008 | $12.1M | — | $1.0M |
| 2021 | 2,779 | $459M | $165,333 | $11.4M | — | $1.0M |
| 2020 | 2,798 | $409M | $146,287 | $11.1M | — | $1.0M |
| 2019 | 2,846 | $387M | $136,130 | $10.6M | — | $1.2M |
| 2018 | 2,839 | $352M | $123,979 | $10.4M | — | $1.1M |
| 2017 | 2,583 | $371M | $143,653 | $9.4M | — | $1.0M |
| 2016 | 2,493 | $348M | $139,426 | $9.3M | — | $982K |
| 2015 | 2,427 | $333M | $137,407 | $8.6M | — | $1.0M |
| 2014 | 2,327 | $342M | $146,921 | $7.3M | — | $991K |
| 2013 | 2,276 | $331M | $145,463 | $7.0M | — | $1.1M |
| 2012 | 2,227 | $308M | $138,096 | $6.4M | — | $1.2M |
| 2011 | 2,171 | $295M | $135,981 | $6.5M | — | $994K |
| 2010 | 2,169 | $298M | $137,547 | $6.4M | — | $918K |
| 2009 | 2,130 | $283M | $133,017 | $7.2M | — | $821K |
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$452,120,262
- Employer contributions$15,403,407
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$15,403,407
- Total income, including investment results$63,017,240
- Benefits paid$28,261,165
- Administrative expenses$2,990,205
- Total expenses$31,251,370
- Net income$31,765,870
- Net transfers$0
- Net assets, end of year$483,886,132
Participants
- Active participants878
- Retired or separated, receiving benefits1,153
- Retired or separated, entitled to future benefits645
- Total participants, end of year2,907
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Teamsters Local Union 301 General | Contract Administrator; Other services | $517,126 | $0 |
| National Investment Services | Investment management | $229,932 | $0 |
| SEI Trust Company | Investment management | $174,710 | $0 |
| Marquette Associates, Inc. | Investment advisory (plan) | $125,417 | $0 |
| Prudential Insurance Co. | Investment management | $97,883 | $0 |
| Horizion Acturial Services, LLC | Actuarial | $91,000 | $0 |
| Bridgeway Benefit Technologies | Recordkeeping and information management; Consulting (general) | $76,742 | $0 |
| Frank J Baker & Company, Ltd. | Accounting (including auditing) | $74,239 | $0 |
| US Bank National Association | Custodial (securities) | $15,482 | $0 |
| Liracom LLC | Consulting (general) | $14,718 | $0 |
| Ifebp | Other services | $11,557 | $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$1,728,312
- Contract administrator fees$516,000
- Other administrative expenses$278,662
- Salaries and allowances$127,445
- Recordkeeping fees$91,460
- Actuarial fees$91,000
- IQPA audit fees$74,239
- Legal fees$67,605
- Trustee and custodial fees$15,482
- Total administrative expenses$2,990,205
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$197M · 40.7%
- Registered investment companies (mutual funds)$137M · 28.2%
- 103-12 investment entities$61.2M · 12.6%
- Other investments$37.4M · 7.7%
- Corporate stocks$35.4M · 7.3%
- Cash (interest and non-interest bearing)$8.5M · 1.8%
- Insurance company general account$5.0M · 1.0%
- Pooled separate accounts$2.1M · 0.4%
- Receivables$1.1M · 0.2%
- Partnership/joint venture interests$16K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmFrank J. Baker & Company, Ltd.
- 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
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 484110: General Freight Trucking, Local.
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Suburban Teamsters of Northern Illinois Pension Plan | Trustees of Suburban Teamsters of Northern Illinois Pension Fund | 10,032 | $921M | $91,833 |
| Ctdu - Pension Fund | Ctdu - Pension Fund | 2,305 | $29.8M | $12,933 |
| Local 705 Int'l Brotherhood of Teamsters Pension Tr. Fd. | BD of Trustees Local 705 I.B. of T. Pension Trust Fund | 15,670 | $1.88B | $120,098 |
| Sirva Employees Retirement Plan | Sirva Inc. | 1,702 | $87.2M | $51,217 |
| International Brotherhood of Teamsters Union Local 710 Pension Fund | Trustees of I.B. of T. Union Local 710 Pension Fund | 21,316 | $4.77B | $224,004 |
| Pension Plan for Employees of CN U.S. Subsidiaries | Grand Trunk Corporation | 1,325 | $72.7M | $54,849 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Teamsters' Local 301 Pension Plan?
2,907 participants at the end of the plan year ending 31 Dec 2025, of whom 878 were active employees, with net assets of $483,886,132. 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 Teamsters Local 301 contribute per participant?
The filing reports $15,403,407 in employer contributions for the year, which is $17,544 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 $1,428,806 in compensation to service provider organisations, $492 per participant or 0.29% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $2,990,205. 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 Teamsters Local 301. Recordkeeping or administration: Teamsters Local Union 301 General and Bridgeway Benefit Technologies. Investment advisory or management: National Investment Services, SEI Trust Company and Marquette Associates, Inc.. Trustee or custodian: US Bank National Association. The financial statements were audited by Frank J. Baker & Company, Ltd.. 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 30 Jul 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 36-6492992, plan 001, received 30 Jul 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.