Minnesota › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Pipe Trades Services MN Pension Supplement Fund
Sponsored by Board of Trustees of the Pipe Trades Services MN Pension Supplement TR, White Bear Lake, 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.
Board of Trustees of the Pipe Trades Services MN Pension Supplement TR of White Bear Lake, Minnesota sponsors Pipe Trades Services MN Pension Supplement Fund, a profit-sharing plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 9,838 participants (5,912 active) and $1.78B in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $180,721 per participant, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $54,962 median for defined contribution 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.
The employer contributed $65.0M during the year, or $10,987 per active participant against a same-size median of $2,424; participants contributed — and $513K arrived as rollovers and other contributions. Benefits paid out totalled $94.5M.
Schedule C lists 8 service provider organisations paid $5,000 or more, with reported compensation of $2.1M: $212 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $2.4M. 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 $565M in 2009 to $1.78B in 2024 (up 215%), and participants from 7,280 to 9,838 (up 35%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $180,721 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $10,987 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $212 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.12% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $242 | $54.85 | $166 | $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), construction (4,204) 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 |
|---|---|---|---|---|---|---|
| 2024 | 9,838 | $1.78B | $180,721 | $65.0M | — | $2.1M |
| 2023 | 9,824 | $1.61B | $164,063 | $64.3M | — | $1.5M |
| 2022 | 9,554 | $1.39B | $146,009 | $61.9M | — | $1.9M |
| 2021 | 9,477 | $1.68B | $177,457 | $59.5M | — | $1.7M |
| 2020 | 9,134 | $1.50B | $163,803 | $53.6M | — | $2.4M |
| 2019 | 9,233 | $1.32B | $142,846 | $57.8M | — | $1.5M |
| 2018 | 8,982 | $1.09B | $120,881 | $52.3M | — | $1.4M |
| 2017 | 9,262 | $1.15B | $124,303 | $49.5M | — | $1.2M |
| 2016 | 8,964 | $998M | $111,370 | $44.9M | — | $1.1M |
| 2015 | 8,268 | $848M | $102,595 | $43.0M | — | $1.1M |
| 2014 | 7,510 | $834M | $111,081 | $35.7M | — | $1.0M |
| 2013 | 7,015 | $794M | $113,248 | $30.1M | — | $1.0M |
| 2012 | 6,673 | $670M | $100,366 | $24.8M | — | $890K |
| 2011 | 6,883 | $607M | $88,230 | $24.1M | — | $539K |
| 2010 | 7,060 | $624M | $88,396 | $22.0M | — | $549K |
| 2009 | 7,280 | $565M | $77,564 | $23.5M | — | $404K |
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$1,611,759,174
- Employer contributions$64,954,055
- Participant contributions—
- Rollovers and other contributions$512,899
- Total contributions$65,466,954
- Total income, including investment results$263,004,312
- Benefits paid$94,453,111
- Administrative expenses$2,380,289
- Total expenses$96,833,400
- Net income$166,170,912
- Net transfers$0
- Net assets, end of year$1,777,930,086
Participants
- Active participants5,912
- Retired or separated, receiving benefits2,302
- Retired or separated, entitled to future benefits1,592
- Participants with account balances9,838
- Total participants, end of year9,838
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Pipe Trades Services MN, Inc. | Plan Administrator | $659,996 | $0 |
| Milliman, Inc. | Actuarial; Consulting (general) | $587,266 | $0 |
| Intercontinental Real Estate Corp. | Investment management | $256,928 | $0 |
| Francis LLC | Investment management | $217,280 | $0 |
| Matrix Trust Company | Trustee (bank, trust company, or similar financial institution); Trustee (directed) | $173,121 | $0 |
| Taft Stettinius & Hollister LLP | Legal | $120,566 | $0 |
| Plante & Moran PLLC | Accounting (including auditing) | $60,500 | $0 |
| Honsa-Binder Printing, Inc. | Copying and duplicating | $6,160 | $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
- Contract administrator fees$659,996
- Investment advisory and management fees$648,329
- Actuarial fees$587,266
- Other administrative expenses$303,632
- Legal fees$120,566
- IQPA audit fees$60,500
- Total administrative expenses$2,380,289
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$823M · 45.2%
- Registered investment companies (mutual funds)$713M · 39.2%
- U.S. Government securities$157M · 8.6%
- Corporate stocks$68.4M · 3.8%
- Corporate debt instruments$37.4M · 2.1%
- Cash (interest and non-interest bearing)$15.9M · 0.9%
- Receivables$6.2M · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPlante & Moran, PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
2AAge/service weighted or new comparability or similar plan2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in Minnesota
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| National Roofing Industry Supplemental Pension Plan | Trustees of National Roofing Industry Supplemental Pension Plan | 9,884 | $296M | $29,991 |
| Boilermakers Lodge 154 Retirement Plan | Boilermakers Lodge 154 Retirement Plan | 7,035 | $157M | $22,250 |
| Operating Engineers Local #49 Defined Contribution Plan | Trustees of Operating Engineers Local #49 Defined Contribution Plan | 12,571 | $71.0M | $5,649 |
| Electrical Workers Local No. 292 Defined Contribution and 401(k) Plan | Trustees Electrical Workers Local NO.292 Defined Contribution and 401(k) | 6,319 | $1.19B | $187,793 |
| Carpenters & Joiners Defined Contribution Plan | Board of Trustees of the Carpenters & Joiners Defined Contribution Pla | 23,909 | $811M | $33,931 |
| M. a. Mortenson Company Retirement Savings Plan and Trust for Trade Employees | M. a. Mortenson Company | 5,626 | $38.7M | $6,878 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Pipe Trades Services MN Pension Supplement Fund?
9,838 participants at the end of the plan year ending 31 Dec 2024, of whom 5,912 were active employees, with net assets of $1,777,930,086. 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 Board of Trustees of the Pipe Trades Services MN Pension Supplement TR contribute per participant?
The filing reports $64,954,055 in employer contributions for the year, which is $10,987 per active participant; the median for plans of the same type and size was $2,424 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 $2,081,817 in compensation to service provider organisations, $212 per participant or 0.12% 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 $2,380,289. 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 Board of Trustees of the Pipe Trades Services MN Pension Supplement TR. Recordkeeping or administration: Pipe Trades Services MN, Inc.. Investment advisory or management: Intercontinental Real Estate Corp. and Francis LLC. Trustee or custodian: Matrix Trust Company. The financial statements were audited by Plante & Moran, PLLC. 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 13 Oct 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 41-1539354, plan 002, received 13 Oct 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.