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 Pension Plan
Sponsored by Trustees Electrical Workers Local NO.292 Pension Plan, 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.
Electrical Workers Local No. 292 Pension Plan is a defined benefit pension plan sponsored by Trustees Electrical Workers Local NO.292 Pension Plan of Brooklyn Park, Minnesota. For the plan year ending 30 Apr 2025 it reported 5,243 participants, 2,466 of them active, and net assets of $447M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $85,336 per participant, close to the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and below the $100,593 median for defined benefit 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.
Employer contributions were $21.2M for the year ($8,587 per active participant) and benefits paid were $22.2M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $1.6M: $307 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $1.9M. 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 $127M in 2009 to $447M in 2024 (up 252%), and participants from 4,520 to 5,243 (up 16%).
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 | $85,336 | $87,623 | $100,593 | $86,221 |
| Employer contributions per active participant | $8,587 | $9,468 | $13,292 | $10,244 |
| Schedule C compensation per participant | $307 | $232 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.36% | 0.30% | 0.46% | 0.42% |
| Administrative expenses per participant | $372 | $396 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), construction (655) 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 | 5,243 | $447M | $85,336 | $21.2M | — | $1.6M |
| 2023 | 5,126 | $417M | $81,339 | $20.2M | — | $1.4M |
| 2022 | 5,020 | $386M | $76,911 | $19.4M | — | $1.3M |
| 2021 | 4,956 | $388M | $78,354 | $22.0M | — | $1.3M |
| 2020 | 4,773 | $385M | $80,650 | $20.4M | — | $1.2M |
| 2019 | 5,108 | $298M | $58,382 | $23.8M | — | $1.2M |
| 2018 | 5,031 | $292M | $57,955 | $23.0M | — | $1.0M |
| 2017 | 5,040 | $268M | $53,216 | $24.0M | — | $1.0M |
| 2016 | 4,972 | $242M | $48,645 | $21.9M | — | $753K |
| 2015 | 4,880 | $214M | $43,758 | $21.5M | — | $709K |
| 2014 | 4,729 | $206M | $43,617 | $18.3M | — | $809K |
| 2013 | 4,656 | $188M | $40,296 | $16.7M | — | $887K |
| 2012 | 4,592 | $164M | $35,660 | $13.8M | — | $880K |
| 2011 | 4,539 | $146M | $32,103 | $11.8M | — | $970K |
| 2010 | 4,524 | $143M | $31,689 | $9.9M | — | $1.0M |
| 2009 | 4,520 | $127M | $28,154 | $9.3M | — | $1.1M |
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$416,943,356
- Employer contributions$21,175,344
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$21,175,344
- Total income, including investment results$54,611,505
- Benefits paid$22,188,089
- Administrative expenses$1,948,365
- Total expenses$24,136,454
- Net income$30,475,051
- Net transfers$0
- Net assets, end of year$447,418,407
Participants
- Active participants2,466
- Retired or separated, receiving benefits1,699
- Retired or separated, entitled to future benefits852
- Total participants, end of year5,243
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| IBEW Local 292 Health Care Plan | Contract Administrator | $380,247 | $0 |
| Boston Trust Walden Company | Investment management | $211,511 | $0 |
| Wedge Capital Management LLP | Investment management | $166,196 | $0 |
| Union Bank and Trust | Custodial (securities); Investment management | $121,540 | $0 |
| Marathon Asset Management Limited | Custodial (securities); Investment management | $108,158 | $0 |
| Wellington Trust Company | Investment management | $103,719 | $0 |
| Smith Group Asset Management | Investment management | $79,107 | $0 |
| Galliard Capital Management LLC | Investment management | $78,672 | $0 |
| Fidelity | Investment management | $71,722 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $65,000 | $0 |
| Shumaker Loop & Kendrick LLP | Legal | $58,788 | $0 |
| United Actuarial Services | Actuarial | $56,508 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$1,041,238
- Contract administrator fees$380,247
- Other administrative expenses$253,879
- Trustee and custodial fees$121,540
- Legal fees$58,788
- Actuarial fees$56,508
- IQPA audit fees$36,165
- Total administrative expenses$1,948,365
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$136M · 30.4%
- Corporate stocks$105M · 23.4%
- Partnership/joint venture interests$76.0M · 17.0%
- U.S. Government securities$34.9M · 7.8%
- 103-12 investment entities$29.8M · 6.7%
- Other investments$29.4M · 6.6%
- Corporate debt instruments$17.2M · 3.8%
- Registered investment companies (mutual funds)$9.0M · 2.0%
- Cash (interest and non-interest bearing)$8.1M · 1.8%
- Receivables$2.3M · 0.5%
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, $3,000,000
- 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
1ABenefits are primarily pay related
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 |
|---|---|---|---|---|
| Sheet Metal Workers' Local 10 Pension Fund | Trustees of Sheet Metal Workers' Local 10 Pension Fund | 5,408 | $406M | $75,086 |
| Minnesota & North Dakota Bricklayers and Allied Craftworkers Pension Fund | Trustees of Minnesota & North Dakota Bricklayers & Allied Craftworkers | 3,492 | $481M | $137,687 |
| Pipe Trades Services MN Pension Fund | Trustees of the Pipe Trades Services MN Pension Trust | 9,553 | $1.57B | $164,019 |
| Twin City Ironworkers Pension Plan | Board of Trustees of the Twin City Ironworkers Pension Fund | 3,447 | $454M | $131,595 |
| Twin City Carpenters and Joiners Pension Fund | Board of Trustees of the Twin City Carpenters and Joiners Pension Fund | 18,016 | $2.01B | $111,431 |
| District Council 82 Painting Industry Pension Plan | Trustees of District Council 82 Painting Industry Pension Plan | 2,214 | $319M | $143,900 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Electrical Workers Local No. 292 Pension Plan?
5,243 participants at the end of the plan year ending 30 Apr 2025, of whom 2,466 were active employees, with net assets of $447,418,407. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Trustees Electrical Workers Local NO.292 Pension Plan contribute per participant?
The filing reports $21,175,344 in employer contributions for the year, which is $8,587 per active participant; the median for plans of the same type and size was $9,468 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 $1,610,572 in compensation to service provider organisations, $307 per participant or 0.36% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $1,948,365. 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 Pension Plan. Recordkeeping or administration: IBEW Local 292 Health Care Plan. Investment advisory or management: Boston Trust Walden Company, Wedge Capital Management LLP and Union Bank and Trust. Trustee or custodian: Union Bank and Trust and Marathon Asset Management Limited. 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 41-6035616, plan 001, 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.