New York › Other services › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Local 976 I.L.A. Pension Fund 601 West 51st Street, 2nd Floor New York, NY 10019
Sponsored by Local 976 - I. L. a. Pension Fund, New York, NY
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.
Local 976 I.L.A. Pension Fund 601 West 51st Street, 2nd Floor New York, NY 10019 is a money purchase plan sponsored by Local 976 - I. L. a. Pension Fund of New York, New York. For the plan year ending 31 Dec 2024 it reported 132 participants, 0 of them active, and net assets of −$6.6M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $17K: $128 per participant, well below the same-size median of $194. Administrative expenses charged to the plan were $654K. 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 $1.5M in 2009 to −$6.6M in 2024 (down 530%), and participants from 115 to 132 (up 15%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | — | $60,185 | $40,686 | $53,102 |
| Employer contributions per active participant | — | $2,447 | $2,024 | $2,175 |
| Schedule C compensation per participant | $128 | $194 | $113 | $123 |
| Schedule C compensation, share of net assets | — | 0.32% | 0.30% | 0.26% |
| Administrative expenses per participant | $4,957 | $176 | $99.73 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), other services (2,675) and all US plans (63,460). 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 | 132 | −$6.6M | −$50,311 | — | — | $17K |
| 2023 | 136 | −$5.7M | −$41,794 | — | — | $17K |
| 2022 | 140 | −$4.0M | −$28,607 | — | — | $0 |
| 2021 | 145 | −$3.5M | −$24,372 | — | — | $0 |
| 2017 | 172 | $154K | $895 | — | — | $0 |
| 2015 | 186 | −$140K | −$753 | — | — | $6,000 |
| 2014 | 187 | −$110K | −$588 | — | — | $0 |
| 2013 | 189 | $433K | $2,291 | — | — | $16K |
| 2011 | 198 | $1.4M | $6,949 | — | — | $3,000 |
| 2010 | 112 | $1.9M | $17,348 | $825K | — | $32K |
| 2009 | 115 | $1.5M | $13,417 | $131K | — | $0 |
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−$5,684,222
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$8
- Benefits paid$302,654
- Administrative expenses$654,278
- Total expenses$956,932
- Net income−$956,924
- Net transfers$0
- Net assets, end of year−$6,641,146
Participants
- Active participants0
- Retired or separated, receiving benefits76
- Retired or separated, entitled to future benefits56
- Participants with account balances0
- Total participants, end of year132
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| MSPC CPAS and Advisors, PC | Accounting (including auditing) | $16,830 | $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$612,548
- Recordkeeping fees$24,000
- IQPA audit fees$16,830
- Actuarial fees$900
- Total administrative expenses$654,278
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.
- Cash (interest and non-interest bearing)$139K · 87.3%
- Receivables$20K · 12.7%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMSPC CPAS and Advisors P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 813000: Religious, Grantmaking, Civic, Professional, & Similar Organizations (including condominium and homeowners associations).
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Church of the Pentecost U.S.A., Inc. Pension 401 (K) Plan | Church of the Pentecost U.S.A., Inc. | 133 | $7.9M | $59,136 |
| National Domestic Workers Alliance 401(k) Plan | National Domestic Workers Alliance | 129 | $3.6M | $27,791 |
| Defined Contribution Pension Plan for Employees of American Committee for the Weizmann Institute of Science, Inc. | American Committee for the Weizmann Institute of Science, Inc. | 133 | $21.1M | $158,856 |
| The Officials, Business Representatives Office & Clerical Employees of Local Union No. 3, IBEW, AFL-CIO 401(k) Plan | Local Union No. 3, IBEW, AFL-CIO | 129 | $31.5M | $244,006 |
| Simulmedia Inc. 401(k) | Simulmedia Inc. | 134 | $8.1M | $60,199 |
| Madison Square Boys & Girls Club Pension Plan | Madison Square Boys & Girls Club | 128 | $11.5M | $90,124 |
Defined contribution plans in other services closest in size.
Questions and answers
How big is Local 976 I.L.A. Pension Fund 601 West 51st Street, 2nd Floor New York, NY 10019?
132 participants at the end of the plan year ending 31 Dec 2024, of whom 0 were active employees, with net assets of −$6,641,146. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Local 976 - I. L. a. Pension Fund contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $16,830 in compensation to service provider organisations, $128 per participant. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $654,278. 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 976 - I. L. a. Pension Fund. The financial statements were audited by MSPC CPAS and Advisors P.C.. 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 2024 to 31 Dec 2024, received by the Department of Labor on 9 Oct 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 51-6044678, plan 001, received 9 Oct 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.