Minnesota › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Electrical Workers Local No. 292 Defined Contribution and 401(k) Plan
Sponsored by Trustees Electrical Workers Local NO.292 Defined Contribution and 401(k), Brooklyn Park, 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.
Trustees Electrical Workers Local NO.292 Defined Contribution and 401(k) of Brooklyn Park, Minnesota sponsors Electrical Workers Local No. 292 Defined Contribution and 401(k) Plan, a 401(k) plan. Its Form 5500 for the plan year ending 30 Apr 2025 shows 6,319 participants (5,698 active) and $1.19B in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $187,793 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 $36.3M during the year, or $6,363 per active participant against a same-size median of $2,424; participants contributed $14.6M and $608K arrived as rollovers and other contributions. Benefits paid out totalled $60.2M.
Schedule C lists 9 service provider organisations paid $5,000 or more, with reported compensation of $1.5M: $236 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.7M. 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 $391M in 2009 to $1.19B in 2024 (up 203%), and participants from 7,994 to 6,319 (down 21%).
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 | $187,793 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $6,363 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $236 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.13% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $265 | $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 | 6,319 | $1.19B | $187,793 | $36.3M | $14.6M | $1.5M |
| 2023 | 6,236 | $1.11B | $177,400 | $30.8M | $13.3M | $1.5M |
| 2022 | 6,055 | $995M | $164,285 | $27.8M | $12.3M | $1.3M |
| 2021 | 6,051 | $986M | $162,974 | $26.8M | $12.3M | $1.0M |
| 2020 | 6,147 | $1.04B | $169,533 | $23.8M | $10.0M | $1.2M |
| 2019 | 7,038 | $800M | $113,619 | $26.1M | $10.9M | $1.6M |
| 2018 | 8,386 | $805M | $96,020 | $24.5M | $9.5M | $1.1M |
| 2017 | 8,243 | $757M | $91,838 | $25.7M | $8.8M | $1.6M |
| 2016 | 7,696 | $685M | $89,067 | $23.3M | $7.5M | $1.5M |
| 2015 | 7,361 | $613M | $83,271 | $21.8M | $7.5M | $1.4M |
| 2014 | 6,823 | $609M | $89,281 | $19.9M | $6.3M | $1.5M |
| 2013 | 7,630 | $566M | $74,179 | $18.3M | $5.6M | $1.9M |
| 2012 | 6,363 | $505M | $79,403 | $17.5M | $5.3M | $1.3M |
| 2011 | 5,692 | $452M | $79,402 | $16.0M | $4.8M | $186K |
| 2010 | 5,955 | $445M | $74,805 | $15.1M | $4.4M | $1.2M |
| 2009 | 7,994 | $391M | $48,962 | $15.8M | $4.6M | $1.4M |
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$1,106,304,762
- Employer contributions$36,256,955
- Participant contributions$14,614,319
- Rollovers and other contributions$608,321
- Total contributions$51,479,595
- Total income, including investment results$142,274,367
- Benefits paid$60,236,835
- Administrative expenses$1,675,374
- Total expenses$61,912,209
- Net income$80,362,158
- Net transfers$0
- Net assets, end of year$1,186,666,920
Participants
- Active participants5,698
- Retired or separated, receiving benefits—
- Retired or separated, entitled to future benefits499
- Participants with account balances6,319
- Total participants, end of year6,319
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| I.B.E.W. 292 Health Care Plan | Contract Administrator | $375,206 | $0 |
| John Hancock Investment MGMT SCVS | Recordkeeping and information management; Investment management | $337,365 | $0 |
| Galliard Capital Management, LLC | Investment management | $195,281 | $0 |
| Smith Group Asset Management, LLC | Investment management | $158,463 | $0 |
| Wedge Capital Management | Investment management | $142,416 | $0 |
| Shumaker Loop & Kendrick, LLP | Legal | $92,411 | $0 |
| Midwest Institutional Trust Company | Custodial (securities) | $87,357 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $77,000 | $0 |
| Legacy Professionals LLP | Accounting (including auditing) | $27,030 | $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$573,160
- Contract administrator fees$375,206
- Recordkeeping fees$321,426
- Other administrative expenses$198,784
- Legal fees$92,411
- Trustee and custodial fees$87,357
- IQPA audit fees$27,030
- Total administrative expenses$1,675,374
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$662M · 55.7%
- Registered investment companies (mutual funds)$293M · 24.7%
- Corporate stocks$74.2M · 6.2%
- U.S. Government securities$45.7M · 3.8%
- Corporate debt instruments$35.5M · 3.0%
- 103-12 investment entities$32.8M · 2.8%
- Partnership/joint venture interests$24.7M · 2.1%
- Cash (interest and non-interest bearing)$8.7M · 0.7%
- Participant loans$6.8M · 0.6%
- Receivables$4.5M · 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 lateYes, $231,682
- Covered by a fidelity bondYes, $3,000,000
- 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
2EProfit-sharing plan2JCode section 401(k) feature2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in Minnesota
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Boilermakers Lodge 154 Retirement Plan | Boilermakers Lodge 154 Retirement Plan | 7,035 | $157M | $22,250 |
| M. a. Mortenson Company Retirement Savings Plan and Trust for Trade Employees | M. a. Mortenson Company | 5,626 | $38.7M | $6,878 |
| Pipe Trades Services MN Pension Supplement Fund | Board of Trustees of the Pipe Trades Services MN Pension Supplement TR | 9,838 | $1.78B | $180,721 |
| Summit Companies 401(k) Profit Sharing Plan | SFP Holding, Inc. | 5,289 | $166M | $31,358 |
| National Roofing Industry Supplemental Pension Plan | Trustees of National Roofing Industry Supplemental Pension Plan | 9,884 | $296M | $29,991 |
| Sheet Metal Local 10 Supplemental Retirement Fund | Trustees of Sheet Metal Local 10 Supplemental Retirement Fund | 4,801 | $573M | $119,256 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Electrical Workers Local No. 292 Defined Contribution and 401(k) Plan?
6,319 participants at the end of the plan year ending 30 Apr 2025, of whom 5,698 were active employees, with net assets of $1,186,666,920. 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 Trustees Electrical Workers Local NO.292 Defined Contribution and 401(k) contribute per participant?
The filing reports $36,256,955 in employer contributions for the year, which is $6,363 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 $1,492,529 in compensation to service provider organisations, $236 per participant or 0.13% 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 $1,675,374. 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 Electrical Workers Local NO.292 Defined Contribution and 401(k). Recordkeeping or administration: I.B.E.W. 292 Health Care Plan and John Hancock Investment MGMT SCVS. Investment advisory or management: John Hancock Investment MGMT SCVS, Galliard Capital Management, LLC and Smith Group Asset Management, LLC. Trustee or custodian: Midwest Institutional Trust Company. 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 1 Dec 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 41-1760754, plan 002, received 1 Dec 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.