Minnesota › Manufacturing › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Andersen Corporation Employee Stock Ownership Plan
Sponsored by Andersen Corporation, Bayport, 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.
Andersen Corporation Employee Stock Ownership Plan is an employee stock ownership plan sponsored by Andersen Corporation of Bayport, Minnesota. For the plan year ending 31 Dec 2025 it reported 10,864 participants, 9,414 of them active, and net assets of $877M.
Net assets came to $79,602 per participant in plan year 2024, above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $62,303 median for defined contribution plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $421K: $38.73 per participant, well below the same-size median of $53.38. Administrative expenses charged to the plan were $424K. 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 $373M in 2009 to $877M in 2025 (up 135%), and participants from 6,387 to 10,864 (up 70%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $79,602 | $64,499 | $62,303 | $53,102 |
| Employer contributions per active participant | — | $2,424 | $2,187 | $2,175 |
| Schedule C compensation per participant | $35.95 | $53.38 | $136 | $123 |
| Schedule C compensation, share of net assets | 0.04% | 0.09% | 0.24% | 0.26% |
| Administrative expenses per participant | $36.14 | $54.85 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), manufacturing (11,377) and all US plans (63,460). 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 | 10,864 | $877M | $80,690 | — | — | $421K |
| 2024 | 11,933 | $950M | $79,602 | — | — | $429K |
| 2023 | 13,480 | $887M | $65,810 | — | — | $406K |
| 2022 | 12,992 | $638M | $49,104 | — | — | $415K |
| 2021 | 10,721 | $763M | $71,170 | — | — | $394K |
| 2020 | 10,282 | $675M | $65,664 | — | — | $398K |
| 2019 | 8,889 | $555M | $62,393 | — | — | $374K |
| 2018 | 9,009 | $483M | $53,641 | — | — | $371K |
| 2017 | 7,940 | $499M | $62,892 | — | — | $410K |
| 2016 | 7,388 | $451M | $61,020 | — | — | $293K |
| 2015 | 7,129 | $374M | $52,416 | — | — | $493K |
| 2014 | 6,352 | $322M | $50,691 | — | — | $309K |
| 2013 | 6,049 | $278M | $46,000 | — | — | $301K |
| 2012 | 5,886 | $249M | $42,273 | $12K | — | $310K |
| 2011 | 5,910 | $284M | $47,993 | $47K | — | $439K |
| 2010 | 5,896 | $393M | $66,659 | $20K | — | $380K |
| 2009 | 6,387 | $373M | $58,446 | $8,000 | — | $395K |
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$949,895,543
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$60,589,868
- Benefits paid$133,451,362
- Administrative expenses$423,530
- Total expenses$133,874,892
- Net income−$73,285,024
- Net transfers$0
- Net assets, end of year$876,610,519
Participants
- Active participants9,414
- Retired or separated, receiving benefits910
- Retired or separated, entitled to future benefits517
- Participants with account balances2,695
- Total participants, end of year10,864
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| U.S. Bank, National Association | Custodial (securities) | $202,494 | $0 |
| Bsi | Recordkeeping and information management | $181,678 | $0 |
| BDO USA, P.C. | Accounting (including auditing) | $36,608 | $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
- Trustee and custodial fees$202,494
- Recordkeeping fees$181,678
- IQPA audit fees$36,608
- Legal fees$2,750
- Total administrative expenses$423,530
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.
- Employer securities$874M · 98.1%
- Cash (interest and non-interest bearing)$16.9M · 1.9%
- Receivables$38K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBDO USA, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
2IStock bonus2OESOP other than a leveraged ESOP3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 321900: Other Wood Product Mfg.
Other plans of Andersen Corporation
| Plan | Participants | Net assets |
|---|---|---|
| Andersen 401(k) Plan | 19,059 | $1.68B |
| Andersen Corporation Employees' Pension and Retirement Plan | 3,972 | $682M |
| Andersen Pension Plan | 463 | $16.7M |
Similar plans in Minnesota
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Schwan's Company Retirement Savings Plan | Schwans Shared Services, LLC | 11,319 | $632M | $55,829 |
| Polaris 401(k) Retirement Savings Plan | Polaris Industries Inc. | 10,502 | $1.29B | $122,483 |
| Land O'Lakes, Inc. Employee Savings and Supplemental Retirement Plan | Land O'Lakes, Inc. | 11,406 | $2.04B | $178,937 |
| The Marvin Companies Profit Sharing and 401(k) Plan | Marvin Lumber and Cedar Company | 10,254 | $787M | $76,728 |
| Solventum Voluntary Investment Plan | Solventum Corporation | 11,816 | $2.56B | $216,439 |
| Taylor Corporation 401(k) Plan | Taylor Corporation | 10,144 | $986M | $97,203 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Andersen Corporation Employee Stock Ownership Plan?
10,864 participants at the end of the plan year ending 31 Dec 2025, of whom 9,414 were active employees, with net assets of $876,610,519. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Andersen Corporation contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $420,780 in compensation to service provider organisations, $38.73 per participant or 0.05% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $423,530. 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 Andersen Corporation. Recordkeeping or administration: Bsi. Trustee or custodian: U.S. Bank, National Association. The financial statements were audited by BDO USA, P.C.. 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 20 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 41-0123208, plan 003, received 20 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.