California › Accommodation and food services › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Aug 2024 to 31 Jul 2025
Monterey Peninsula Restaurant and Hotel Pension Fund
Sponsored by Board of Trustees, Monterey Peninsula Restaurant and, Pacific Grove, CA
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 31 Jul 2025, Monterey Peninsula Restaurant and Hotel Pension Fund covered 2,922 participants and held $71.2M in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees, Monterey Peninsula Restaurant and of Pacific Grove, California. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $24,359 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and below the $27,107 median for defined benefit plans in accommodation and food 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 $2.0M for the year ($1,938 per active participant) and benefits paid were $3.8M. 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 $335K: $114 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $874K. 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 $32.9M in 2010 to $71.2M in 2024 (up 116%), and participants from 2,703 to 2,922 (up 8%).
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 | $24,359 | $87,935 | $27,107 | $86,221 |
| Employer contributions per active participant | $1,938 | $10,593 | $4,875 | $10,244 |
| Schedule C compensation per participant | $114 | $325 | $121 | $344 |
| Schedule C compensation, share of net assets | 0.47% | 0.41% | 0.47% | 0.42% |
| Administrative expenses per participant | $299 | $513 | $217 | $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), accommodation and food services (39) 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 | 2,922 | $71.2M | $24,359 | $2.0M | — | $335K |
| 2023 | 2,942 | $67.0M | $22,786 | $2.0M | — | $357K |
| 2022 | 2,908 | $62.4M | $21,447 | $2.0M | — | $337K |
| 2021 | 2,832 | $60.5M | $21,376 | $1.8M | — | $384K |
| 2020 | 2,685 | $69.4M | $25,851 | $1.1M | — | $394K |
| 2019 | 2,843 | $57.5M | $20,236 | $1.5M | — | $327K |
| 2018 | 2,889 | $53.4M | $18,489 | $2.0M | — | $328K |
| 2017 | 2,873 | $52.4M | $18,235 | $2.0M | — | $335K |
| 2016 | 2,832 | $47.6M | $16,809 | $1.8M | — | $358K |
| 2015 | 2,817 | $43.8M | $15,531 | $1.7M | — | $357K |
| 2014 | 2,788 | $43.4M | $15,579 | $1.5M | — | $369K |
| 2013 | 2,816 | $41.2M | $14,625 | $1.4M | — | $415K |
| 2012 | 2,734 | $38.0M | $13,906 | $1.6M | — | $323K |
| 2011 | 2,669 | $33.5M | $12,540 | $1.7M | — | $313K |
| 2010 | 2,703 | $32.9M | $12,169 | $981K | — | $261K |
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$67,037,151
- Employer contributions$1,986,221
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,986,221
- Total income, including investment results$8,800,234
- Benefits paid$3,786,439
- Administrative expenses$874,158
- Total expenses$4,660,597
- Net income$4,139,637
- Net transfers$0
- Net assets, end of year$71,176,788
Participants
- Active participants1,025
- Retired or separated, receiving benefits952
- Retired or separated, entitled to future benefits883
- Participants with account balances0
- Total participants, end of year2,922
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Rael & Letson | Actuarial | $84,596 | $0 |
| Karpus Investment Management | Investment management | $43,977 | $2,050 |
| Mellon Investments Corporation | Investment management | $43,217 | $0 |
| Madison Investment Advisors | Investment management | $38,399 | $0 |
| Pension Fund Evaluations, Inc. | Investment management | $28,500 | $0 |
| Atalanta Sosnoff Capital | Investment management | $25,671 | $0 |
| Freedom Investment MGMT | Investment management | $21,929 | $0 |
| Comerica Bank | Custodial (securities) | $21,302 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $19,000 | $0 |
| Stephen Horn Insurance | Insurance agents and brokers | $0 | $5,879 |
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
- Salaries and allowances$301,394
- Investment advisory and management fees$214,592
- Other administrative expenses$198,877
- Actuarial fees$84,596
- Trustee and custodial fees$26,180
- IQPA audit fees$19,541
- Legal fees$14,807
- Other trustee fees and expenses$11,737
- Recordkeeping fees$2,434
- Total administrative expenses$874,158
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.
- Registered investment companies (mutual funds)$27.1M · 38.0%
- Common/collective trusts$12.8M · 18.0%
- 103-12 investment entities$11.9M · 16.7%
- Partnership/joint venture interests$6.8M · 9.6%
- Corporate debt instruments$4.5M · 6.3%
- U.S. Government securities$4.2M · 5.9%
- Other investments$2.7M · 3.8%
- Cash (interest and non-interest bearing)$835K · 1.2%
- Receivables$268K · 0.4%
- Buildings and other property used in plan operation$110K · 0.2%
- Corporate stocks$94K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMiller Kaplan Arase LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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 721110: Hotels (except Casino Hotels) & Motels.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Jack in the Box Inc. Retirement Plan | Jack in the Box Inc. | 7,356 | $279M | $37,949 |
| San Mateo Hotel Employees & Restaurant Employees Pension Fund | San Mateo Hotel Employees & Restaurant Employees Pension Fund | 9,308 | $217M | $23,274 |
| Los Angeles Hotel-Restaurant Employer-Union Retirement Fund | Board of Trustees, Los Angeles Hotel-Restaurant | 26,576 | $421M | $15,857 |
| Western Unite Here and Employers Pension Fund | Board of Trustees, Western Unite Here and Employers | 154,012 | $3.67B | $23,847 |
Defined benefit plans in accommodation and food services closest in size.
Questions and answers
How big is Monterey Peninsula Restaurant and Hotel Pension Fund?
2,922 participants at the end of the plan year ending 31 Jul 2025, of whom 1,025 were active employees, with net assets of $71,176,788. 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 Board of Trustees, Monterey Peninsula Restaurant and contribute per participant?
The filing reports $1,986,221 in employer contributions for the year, which is $1,938 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 $334,520 in compensation to service provider organisations, $114 per participant or 0.47% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $874,158. 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 Board of Trustees, Monterey Peninsula Restaurant and. Investment advisory or management: Karpus Investment Management, Mellon Investments Corporation and Madison Investment Advisors. Trustee or custodian: Comerica Bank. The financial statements were audited by Miller Kaplan Arase 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 Aug 2024 to 31 Jul 2025, received by the Department of Labor on 12 May 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 51-6029899, plan 001, received 12 May 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.