New Jersey › Administrative and support and waste management services › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Local 68 Engineers Union Pension Plan
Sponsored by Local 68 Engineers Union Pension Fund Board of Trustees, W. Caldwell, NJ
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 Jun 2025, Local 68 Engineers Union Pension Plan covered 5,417 participants and held $462M in net assets. The plan is a defined benefit pension plan sponsored by Local 68 Engineers Union Pension Fund Board of Trustees of W. Caldwell, New Jersey. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $85,240 per participant, close to the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and close to the $84,727 median for defined benefit plans in administrative and support and waste management 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 $32.5M for the year ($14,309 per active participant) and benefits paid were $44.2M. 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 14 service provider organisations paid $5,000 or more, with reported compensation of $1.1M: $207 per participant, below the same-size median of $232. Administrative expenses charged to the plan were $1.4M. 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 $244M in 2009 to $462M in 2024 (up 90%), and participants from 4,378 to 5,417 (up 24%).
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 | $85,240 | $87,623 | $84,727 | $86,221 |
| Employer contributions per active participant | $14,309 | $9,468 | $14,385 | $10,244 |
| Schedule C compensation per participant | $207 | $232 | $328 | $344 |
| Schedule C compensation, share of net assets | 0.24% | 0.30% | 0.55% | 0.42% |
| Administrative expenses per participant | $254 | $396 | $508 | $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), administrative and support and waste management services (58) 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 | 5,417 | $462M | $85,240 | $32.5M | — | $1.1M |
| 2023 | 5,305 | $436M | $82,234 | $31.7M | — | $1.1M |
| 2022 | 5,233 | $414M | $79,186 | $29.7M | — | $1.2M |
| 2021 | 5,207 | $412M | $79,080 | $27.8M | — | $1.3M |
| 2020 | 5,034 | $452M | $89,777 | $25.5M | — | $1.2M |
| 2019 | 5,085 | $368M | $72,426 | $24.1M | — | $1.1M |
| 2018 | 5,056 | $364M | $71,991 | $22.9M | — | $1.1M |
| 2017 | 5,074 | $351M | $69,149 | $20.0M | — | $785K |
| 2016 | 4,888 | $328M | $67,060 | $17.6M | — | $699K |
| 2015 | 4,777 | $305M | $63,787 | $16.2M | — | $709K |
| 2014 | 4,651 | $315M | $67,720 | $15.1M | — | $685K |
| 2013 | 4,681 | $316M | $67,532 | $13.7M | — | $972K |
| 2012 | 4,595 | $287M | $62,418 | $12.5M | — | $1.0M |
| 2011 | 4,525 | $271M | $59,888 | $12.1M | — | $708K |
| 2010 | 4,394 | $276M | $62,872 | $12.5M | — | $790K |
| 2009 | 4,378 | $244M | $55,652 | $12.6M | — | $768K |
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$436,253,081
- Employer contributions$32,480,883
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$32,480,883
- Total income, including investment results$71,037,890
- Benefits paid$44,168,601
- Administrative expenses$1,377,614
- Total expenses$45,546,215
- Net income$25,491,675
- Net transfers$0
- Net assets, end of year$461,744,756
Participants
- Active participants2,270
- Retired or separated, receiving benefits1,934
- Retired or separated, entitled to future benefits864
- Total participants, end of year5,417
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Great Lakes Advisors LLC | Investment management | $239,982 | $0 |
| Local 68 Eng Union Welfare Fund | Contract Administrator | $145,753 | $0 |
| Investment Performance Services LLC | Consulting (general); Investment advisory (plan) | $140,000 | $0 |
| Hardman Johnston Global Advisors | Investment management | $123,782 | $0 |
| Local 68 Eng Union Education FD | Contract Administrator | $115,243 | $0 |
| Chartwell Investment PTRS | Investment management | $102,694 | $0 |
| Comerica Bank | Custodial (securities) | $52,952 | $0 |
| Wedge Capital MGMT LLP | Investment management | $45,371 | $0 |
| Bridgeway Benefit Technologies | Recordkeeping and information management | $38,179 | $0 |
| Summit Actuarial Services LLC | Actuarial | $35,250 | $0 |
| MSPC | Accounting (including auditing) | $30,000 | $0 |
| The Northern Trust Co. | Investment management | $19,354 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 2 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$732,331
- Other administrative expenses$302,788
- Contract administrator fees$260,995
- Actuarial fees$35,250
- IQPA audit fees$30,000
- Legal fees$16,250
- Total administrative expenses$1,377,614
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.
- Partnership/joint venture interests$131M · 28.4%
- Common/collective trusts$131M · 28.3%
- 103-12 investment entities$48.0M · 10.4%
- Corporate stocks$43.4M · 9.4%
- Cash (interest and non-interest bearing)$31.8M · 6.9%
- Corporate debt instruments$28.7M · 6.2%
- Other investments$23.9M · 5.2%
- U.S. Government securities$16.3M · 3.5%
- Pooled separate accounts$7.6M · 1.7%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMSPC
- Participant contributions reported as transmitted lateNo
- 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
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 561210: Facilities Support Services.
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Recycling and General Industrial Union Local 108 Pension Fund | Board of Trustees - Recycling and General Industrial Union Local 108 | 1,633 | $38.3M | $23,429 |
| Schiffli Embroidery Workers Pension Fund | Schiffli Embroidery Workers Pen. | 638 | $215K | $337 |
Defined benefit plans in administrative and support and waste management services closest in size.
Questions and answers
How big is Local 68 Engineers Union Pension Plan?
5,417 participants at the end of the plan year ending 30 Jun 2025, of whom 2,270 were active employees, with net assets of $461,744,756. 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 Local 68 Engineers Union Pension Fund Board of Trustees contribute per participant?
The filing reports $32,480,883 in employer contributions for the year, which is $14,309 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 $1,122,210 in compensation to service provider organisations, $207 per participant or 0.24% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $1,377,614. 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 Local 68 Engineers Union Pension Fund Board of Trustees. Recordkeeping or administration: Local 68 Eng Union Welfare Fund, Local 68 Eng Union Education FD and Bridgeway Benefit Technologies. Investment advisory or management: Great Lakes Advisors LLC, Investment Performance Services LLC and Hardman Johnston Global Advisors. Trustee or custodian: Comerica Bank. The financial statements were audited by MSPC. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 14 Apr 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 51-0176618, plan 001, received 14 Apr 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.