Michigan › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Iron Workers Local 17 Pension Fund
Sponsored by Iron Workers Local 17 Pension Fund, Troy, MI
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.
In the plan year ending 30 Apr 2025, Iron Workers Local 17 Pension Fund covered 1,874 participants and held $163M in net assets. The plan is a defined benefit pension plan sponsored by Iron Workers Local 17 Pension Fund of Troy, Michigan. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $86,825 per participant, close to the $87,935 median for defined benefit plans with 1,000 to 4,999 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 $12.3M for the year ($18,396 per active participant) and benefits paid were $18.9M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $630K: $336 per participant, close to the same-size median of $325. Administrative expenses charged to the plan were $839K. 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 $91.1M in 2009 to $163M in 2024 (up 79%), and participants from 2,114 to 1,874 (down 11%).
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 | $86,825 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $18,396 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $336 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.39% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $448 | $513 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 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 | 1,874 | $163M | $86,824 | $12.3M | — | $630K |
| 2023 | 1,906 | $158M | $82,763 | $12.9M | — | $563K |
| 2022 | 1,931 | $153M | $79,300 | $12.2M | — | $734K |
| 2021 | 1,903 | $87.7M | $46,073 | $11.7M | — | $687K |
| 2020 | 1,854 | $94.4M | $50,894 | $9.0M | — | $493K |
| 2019 | 1,900 | $79.1M | $41,655 | $12.5M | — | $496K |
| 2018 | 1,898 | $82.2M | $43,299 | $13.1M | — | $494K |
| 2017 | 1,860 | $79.6M | $42,819 | $11.4M | — | $454K |
| 2016 | 1,970 | $77.2M | $39,164 | $10.3M | — | $711K |
| 2015 | 2,015 | $77.9M | $38,636 | $12.0M | — | $748K |
| 2014 | 2,042 | $85.8M | $41,996 | $12.9M | — | $686K |
| 2013 | 2,050 | $91.9M | $44,824 | $16.8M | — | $645K |
| 2012 | 2,064 | $85.7M | $41,532 | $11.6M | — | $649K |
| 2011 | 2,064 | $84.6M | $40,991 | $12.1M | — | $507K |
| 2010 | 2,067 | $92.3M | $44,662 | $9.7M | — | $470K |
| 2009 | 2,114 | $91.1M | $43,085 | $8.3M | — | $558K |
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$157,746,897
- Employer contributions$12,251,503
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$12,251,503
- Total income, including investment results$24,750,511
- Benefits paid$18,949,619
- Administrative expenses$838,611
- Total expenses$19,788,230
- Net income$4,962,281
- Net transfers$0
- Net assets, end of year$162,709,178
Participants
- Active participants666
- Retired or separated, receiving benefits724
- Retired or separated, entitled to future benefits294
- Total participants, end of year1,874
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Solxsys Administrative Solutions | Contract Administrator | $136,800 | $0 |
| The Segal Company | Actuarial | $133,121 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $75,000 | $0 |
| Asb Capital Management | Investment management | $55,862 | $0 |
| Withum | Accounting (including auditing) | $53,382 | $0 |
| Loomis Sayles | Investment management | $46,338 | $0 |
| Boyd Watterson Asset Management | Investment management | $29,345 | $0 |
| Mellon Capital Management Corp. | Investment management | $28,705 | $0 |
| Bonadio & Co., LLP | Accounting (including auditing) | $23,700 | $0 |
| Iron Workers Local 17 Benefits Fund | Contract Administrator | $20,015 | $0 |
| American Graphics | Other services | $17,040 | $0 |
| Key Trust | Investment management | $10,685 | $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
- Other administrative expenses$264,368
- Investment advisory and management fees$245,935
- Recordkeeping fees$136,800
- Actuarial fees$133,121
- Legal fees$34,687
- IQPA audit fees$23,700
- Total administrative expenses$838,611
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$78.1M · 47.9%
- Registered investment companies (mutual funds)$58.0M · 35.6%
- U.S. Government securities$8.7M · 5.3%
- Corporate debt instruments$5.4M · 3.3%
- Partnership/joint venture interests$4.9M · 3.0%
- Receivables$4.2M · 2.6%
- Cash (interest and non-interest bearing)$3.7M · 2.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBonadio & Co., LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,500,000
- 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
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 237990: Other Heavy & Civil Engineering Construction.
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Plumbers & Pipefitters U.A. Local 85 Pension Plan | Joint Board of Trustees Plumbers & Pipefitters U.A. Local 85 Pension | 1,931 | $177M | $91,497 |
| Intl Brotherhood of Elec Work. Loc 58 Sound & Communications | Board of Trustees Intl Brotherhood Elec Workers Sound & Comm Div Ret | 1,838 | $82.7M | $44,973 |
| Bricklayers' Pension Trust Fund-Metropolitan Area | Joint Board of Trustees Bricklayer Pension Trust Fund | 1,954 | $188M | $96,287 |
| West Mi Plumbers Fitters & Service Trades Local Union No 174 Pension Plan | Board of Trustees West Mi Plumbers Local Union No 174 Pension Plan | 1,609 | $272M | $169,153 |
| I.B.E.W. Local 769 Management Pension Plan a | Board of Trustees I.B.E.W. Local 769 MGMT Pension Plan a | 1,963 | $228M | $115,960 |
| Plumbers and Pipefitters Local Union No 333 Pension Fund | Joint Board Plumbers & Pipefitters Local Union No. 333 Pension | 1,532 | $300M | $195,502 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Iron Workers Local 17 Pension Fund?
1,874 participants at the end of the plan year ending 30 Apr 2025, of whom 666 were active employees, with net assets of $162,709,178. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Iron Workers Local 17 Pension Fund contribute per participant?
The filing reports $12,251,503 in employer contributions for the year, which is $18,396 per active participant; the median for plans of the same type and size was $10,593 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 $629,993 in compensation to service provider organisations, $336 per participant or 0.39% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $838,611. 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 Iron Workers Local 17 Pension Fund. Recordkeeping or administration: Solxsys Administrative Solutions and Iron Workers Local 17 Benefits Fund. Investment advisory or management: Segal Marco Advisors, Asb Capital Management and Loomis Sayles. The financial statements were audited by Bonadio & Co., 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 3 Feb 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 51-0161467, plan 001, received 3 Feb 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.