Illinois › Wholesale trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Beer Industry - Local Union No. 703 Pension Fund
Sponsored by Beer Industry - Local Union No. 703 Pension Fund Trustees, Tinley Park, 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.
Beer Industry - Local Union No. 703 Pension Fund is a defined benefit pension plan sponsored by Beer Industry - Local Union No. 703 Pension Fund Trustees of Tinley Park, Illinois. For the plan year ending 31 Dec 2024 it reported 2,061 participants, 719 of them active, and net assets of $125M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $60,491 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and close to 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 $5.2M for the year ($7,188 per active participant) and benefits paid were $7.8M. 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 $466K: $226 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $861K. 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 $85.5M in 2009 to $125M in 2024 (up 46%), and participants from 2,041 to 2,061 (up 1%).
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 | $60,491 | $87,935 | $61,809 | $86,221 |
| Employer contributions per active participant | $7,188 | $10,593 | $8,409 | $10,244 |
| Schedule C compensation per participant | $226 | $325 | $346 | $344 |
| Schedule C compensation, share of net assets | 0.37% | 0.41% | 0.54% | 0.42% |
| Administrative expenses per participant | $418 | $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 | 2,061 | $125M | $60,491 | $5.2M | — | $466K |
| 2023 | 2,029 | $118M | $58,312 | $4.8M | — | $338K |
| 2022 | 1,967 | $112M | $56,732 | $4.3M | — | $453K |
| 2021 | 1,987 | $130M | $65,366 | $4.4M | — | $458K |
| 2020 | 1,992 | $120M | $60,150 | $4.4M | — | $432K |
| 2019 | 1,984 | $112M | $56,202 | $4.3M | — | $447K |
| 2018 | 1,967 | $99.5M | $50,594 | $5.9M | — | $524K |
| 2017 | 1,966 | $104M | $53,128 | $4.0M | — | $540K |
| 2016 | 1,955 | $96.0M | $49,122 | $3.5M | — | $530K |
| 2015 | 1,930 | $91.8M | $47,567 | $4.4M | — | $541K |
| 2014 | 1,929 | $95.0M | $49,267 | $2.4M | — | $463K |
| 2013 | 1,962 | $94.8M | $48,296 | $1.8M | — | $576K |
| 2012 | 2,000 | $89.9M | $44,958 | $1.6M | — | $588K |
| 2011 | 2,011 | $85.4M | $42,449 | $1.5M | — | $579K |
| 2010 | 2,020 | $90.2M | $44,650 | $1.5M | — | $504K |
| 2009 | 2,041 | $85.5M | $41,884 | $1.4M | — | $445K |
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$118,314,533
- Employer contributions$5,168,406
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$5,168,406
- Total income, including investment results$14,972,731
- Benefits paid$7,754,141
- Administrative expenses$861,050
- Total expenses$8,615,191
- Net income$6,357,540
- Net transfers$0
- Net assets, end of year$124,672,073
Participants
- Active participants719
- Retired or separated, receiving benefits628
- Retired or separated, entitled to future benefits527
- Total participants, end of year2,061
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Segal Consulting | Actuarial | $105,419 | $0 |
| The Northern Trust Co. | Custodial (securities) | $77,574 | $0 |
| Asher Gittler & D'Alba Ltd. | Legal | $75,957 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $55,000 | $0 |
| Boyd Watterson Asset Managment LLC | Investment management | $50,579 | $0 |
| Legacy Professionals LLP | Accounting (including auditing); Recordkeeping and information management | $37,682 | $0 |
| Prudential Insurance Co. | Investment management | $26,390 | $0 |
| Bridgeway Benefit Technologies | Consulting (general); Other services | $15,643 | $0 |
| Lasalle Consulting Partners | Consulting (general); Other services | $10,035 | $0 |
| Amalgamated Bank | Direct payment from the plan; Float revenue; Account maintenance fees | $6,089 | $0 |
| Segal Select Insurance Services | Insurance brokerage commissions and fees | $0 | $5,469 |
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$240,193
- Other administrative expenses$209,524
- Investment advisory and management fees$147,000
- Actuarial fees$105,419
- Legal fees$75,957
- Trustee and custodial fees$41,089
- IQPA audit fees$28,018
- Recordkeeping fees$9,664
- Other trustee fees and expenses$4,186
- Total administrative expenses$861,050
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$68.8M · 55.2%
- Registered investment companies (mutual funds)$41.9M · 33.6%
- Partnership/joint venture interests$7.1M · 5.7%
- Pooled separate accounts$4.8M · 3.9%
- Cash (interest and non-interest bearing)$1.7M · 1.3%
- Receivables$491K · 0.4%
- Buildings and other property used in plan operation$5,799 · 0.0%
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, $5,000,000
- Blackout period during the year—
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 424800: Beer, Wine, & Distilled Alcoholic Beverages.
Other plans of Beer Industry - Local Union No. 703 Pension Fund Trustees
| Plan | Participants | Net assets |
|---|---|---|
| Beer Industry - Local Union No. 703 Individual Account Plan | 1,110 | $8.6M |
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Univar Solutions Retirement Plan | Univar Solutions USA LLC. | 2,337 | $353M | $150,980 |
| Essendant Pension Plan | Essendant Co. | 1,889 | $65.7M | $34,763 |
| Chicago Area Ib of T Pension Trust Fund | Board of Trustees of Chicago Area Ib of T Pension Trust Fund | 2,586 | $372M | $144,027 |
| Local 703, I.b of T., Grocery & Food Employees' Pension Plan | Trustees of Local 703, I.B. of T., Grocery & Food Employees' Pension P | 1,498 | $170M | $113,517 |
| Liquor and Allied Workers Local No. 3 Pension Fund Salesmen Division | Trustees of Allied Workers Union Local No 3 Pension Plan Sales Divisio | 2,616 | $162M | $62,108 |
| Essendant Union Employees' Pension Plan | Essendant Co. | 957 | $56.5M | $59,010 |
Defined benefit plans in wholesale trade closest in size.
Questions and answers
How big is Beer Industry - Local Union No. 703 Pension Fund?
2,061 participants at the end of the plan year ending 31 Dec 2024, of whom 719 were active employees, with net assets of $124,672,073. 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 Beer Industry - Local Union No. 703 Pension Fund Trustees contribute per participant?
The filing reports $5,168,406 in employer contributions for the year, which is $7,188 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 $465,837 in compensation to service provider organisations, $226 per participant or 0.37% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $861,050. 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 Beer Industry - Local Union No. 703 Pension Fund Trustees. Recordkeeping or administration: Legacy Professionals LLP. Investment advisory or management: Segal Marco Advisors, Boyd Watterson Asset Managment LLC and Prudential Insurance Co.. Trustee or custodian: The Northern Trust Co.. 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 2024 to 31 Dec 2024, received by the Department of Labor on 30 Sep 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 36-6522619, plan 001, received 30 Sep 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.