District of Columbia › Other services › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Bac - Salaried Employees Pension Plan
Sponsored by BD of Trustees Iubac Salaried Empl Pen Plan, Washington, DC
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.
Bac - Salaried Employees Pension Plan is a defined benefit pension plan sponsored by BD of Trustees Iubac Salaried Empl Pen Plan of Washington, District of Columbia. For the plan year ending 31 Dec 2025 it reported 601 participants, 184 of them active, and net assets of $233M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $352,644 per participant in plan year 2024, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $110,377 median for defined benefit plans in other services. 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 $9.3M for the year ($50,543 per active participant) and benefits paid were $14.9M. 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 10 service provider organisations paid $5,000 or more, with reported compensation of $718K: $1,195 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $928K. 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 $118M in 2014 to $233M in 2025 (up 98%), and participants from 544 to 601 (up 10%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $352,644 | $86,583 | $110,377 | $86,221 |
| Employer contributions per active participant | $59,341 | $10,758 | $13,001 | $10,244 |
| Schedule C compensation per participant | $1,204 | $377 | $486 | $344 |
| Schedule C compensation, share of net assets | 0.34% | 0.48% | 0.44% | 0.42% |
| Administrative expenses per participant | $1,703 | $591 | $662 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), other services (226) 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 |
|---|---|---|---|---|---|---|
| 2025 | 601 | $233M | $388,423 | $9.3M | $702K | $718K |
| 2024 | 600 | $212M | $352,645 | $10.8M | $676K | $722K |
| 2023 | 603 | $194M | $322,163 | $12.4M | $665K | $708K |
| 2022 | 590 | $176M | $297,642 | $12.3M | $652K | $551K |
| 2021 | 579 | $194M | $335,415 | $11.4M | $613K | $485K |
| 2020 | 574 | $165M | $287,333 | $10.5M | $610K | $439K |
| 2019 | 571 | $154M | $269,426 | $9.7M | $618K | $473K |
| 2018 | 575 | $134M | $232,612 | $8.9M | $611K | $442K |
| 2017 | 566 | $139M | $245,189 | $8.1M | $566K | $392K |
| 2016 | 552 | $124M | $225,165 | $7.0M | $553K | $390K |
| 2015 | 551 | $117M | $211,686 | $6.7M | $527K | $376K |
| 2014 | 544 | $118M | $216,697 | $6.7M | $519K | $362K |
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$211,586,654
- Employer contributions$9,299,988
- Participant contributions$701,796
- Rollovers and other contributions—
- Total contributions$10,001,784
- Total income, including investment results$37,637,607
- Benefits paid$14,854,631
- Administrative expenses$927,935
- Total expenses$15,782,566
- Net income$21,855,041
- Net transfers$0
- Net assets, end of year$233,441,695
Participants
- Active participants184
- Retired or separated, receiving benefits271
- Retired or separated, entitled to future benefits105
- Total participants, end of year601
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Iubac | Accounting (including auditing); Contract Administrator; Recordkeeping and information management | $374,903 | $0 |
| Arrowstreet Capital | Investment management | $85,302 | $0 |
| Alan D. Biller & Associates, Inc. | Investment advisory (plan) | $75,000 | $0 |
| Cheiron, Inc. | Actuarial; Consulting (pension) | $68,328 | $0 |
| Calibre CPA Group PLLC | Accounting (including auditing) | $35,381 | $0 |
| Fuiman Moglia, LLP | Legal | $22,954 | $0 |
| The Union Labor Life Insurance Co. | Investment management | $15,325 | $0 |
| Comerica Bank | Custodial (securities); Other services | $14,881 | $0 |
| New Tower Trust Company | Trustee (bank, trust company, or similar financial institution); Investment management | $14,115 | $0 |
| Investment Performance Services, LL | Consulting (general); Investment advisory (plan) | $12,038 | $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$374,903
- Investment advisory and management fees$355,043
- Actuarial fees$68,328
- Other administrative expenses$56,445
- IQPA audit fees$35,381
- Legal fees$22,954
- Trustee and custodial fees$14,881
- Total administrative expenses$927,935
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.
- Master trust investment accounts$233M · 99.5%
- Cash (interest and non-interest bearing)$1.1M · 0.5%
- Receivables$53K · 0.0%
- Buildings and other property used in plan operation$13K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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 813930: Labor Unions and Similar Labor Organizations.
Similar plans in District of Columbia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pension Plan for International Officers, Representatives and Assistants of the Intl Brotherhood of Electrical Workers | International Brotherhood of Electrical Workers | 625 | $559M | $893,929 |
| Pension Plan for Office Employees of the International Brotherhood of Electrical Workers | International Brotherhood of Electrical Workers | 585 | $251M | $429,879 |
| Air Transport Association of America Retirement Income Plan | Air Transport Association of America, Inc. | 664 | $107M | $160,572 |
| Communications Workers of America Adjustable Pension Plan | Communications Workers of America, AFL-CIO, CLC | 565 | $29.3M | $51,902 |
| Retirement Income Plan for Employees of the Chamber of Commerce of the United States of America | Chamber of Commerce of the United States of America | 1,109 | $133M | $119,995 |
| Communications Workers of America Plan for Employees' Pensions | Communications Workers of America, AFL-CIO, CLC | 560 | $129M | $230,448 |
Defined benefit plans in other services closest in size.
Questions and answers
How big is Bac - Salaried Employees Pension Plan?
601 participants at the end of the plan year ending 31 Dec 2025, of whom 184 were active employees, with net assets of $233,441,695. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does BD of Trustees Iubac Salaried Empl Pen Plan contribute per participant?
The filing reports $9,299,988 in employer contributions for the year, which is $50,543 per active participant; the median for plans of the same type and size was $10,758 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 $718,227 in compensation to service provider organisations, $1,195 per participant or 0.31% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $927,935. 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 BD of Trustees Iubac Salaried Empl Pen Plan. Recordkeeping or administration: Iubac. Investment advisory or management: Arrowstreet Capital, Alan D. Biller & Associates, Inc. and The Union Labor Life Insurance Co.. Trustee or custodian: Comerica Bank and New Tower Trust Company. The financial statements were audited by Calibre CPA Group. 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 30 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 47-2695752, plan 001, received 30 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.