Wisconsin › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
Building Trades United Pension Trust Fund Milwaukee and Vicinity
Sponsored by Building Trades United Pension Trust Fund, Elm Grove, WI
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.
Building Trades United Pension Trust Fund Milwaukee and Vicinity is a defined benefit pension plan sponsored by Building Trades United Pension Trust Fund of Elm Grove, Wisconsin. For the plan year ending 31 May 2025 it reported 28,408 participants, 9,922 of them active, and net assets of $3.52B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $123,960 per participant, well above the $88,040 median for defined benefit plans with 25,000 or more participants and above 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 $220M for the year ($22,207 per active participant) and benefits paid were $250M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $13.6M: $480 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $15.8M. 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 $1.30B in 2009 to $3.52B in 2024 (up 171%), and participants from 28,494 to 28,408 (unchanged).
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 | $123,960 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $22,207 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $480 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.39% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $555 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 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 | 28,408 | $3.52B | $123,960 | $220M | — | $13.6M |
| 2023 | 27,998 | $3.25B | $116,243 | $213M | — | $15.2M |
| 2022 | 27,983 | $2.94B | $105,207 | $185M | — | $14.8M |
| 2021 | 27,440 | $2.98B | $108,452 | $174M | — | $14.1M |
| 2020 | 27,246 | $3.05B | $112,107 | $170M | — | $8.1M |
| 2019 | 28,579 | $2.46B | $85,906 | $184M | — | $7.3M |
| 2018 | 28,233 | $2.33B | $82,665 | $186M | — | $4.0M |
| 2017 | 28,002 | $2.30B | $82,000 | $180M | — | $7.0M |
| 2016 | 27,722 | $2.10B | $75,857 | $163M | — | $6.8M |
| 2015 | 27,582 | $1.92B | $69,484 | $148M | — | $6.2M |
| 2014 | 27,119 | $1.95B | $71,813 | $139M | — | $6.7M |
| 2013 | 26,869 | $1.83B | $67,936 | $119M | — | $6.5M |
| 2012 | 26,992 | $1.66B | $61,535 | $102M | — | $5.6M |
| 2011 | 27,401 | $1.48B | $54,042 | $99.1M | — | $4.7M |
| 2010 | 27,867 | $1.50B | $53,872 | $99.6M | — | $4.7M |
| 2009 | 28,494 | $1.30B | $45,562 | $98.4M | — | $4.7M |
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$3,254,559,823
- Employer contributions$220,333,002
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$220,333,002
- Total income, including investment results$533,164,661
- Benefits paid$250,499,933
- Administrative expenses$15,758,402
- Total expenses$266,258,335
- Net income$266,906,326
- Net transfers$0
- Net assets, end of year$3,521,466,149
Participants
- Active participants9,922
- Retired or separated, receiving benefits9,791
- Retired or separated, entitled to future benefits7,731
- Total participants, end of year28,408
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wilson-McShane Corporation | Plan Administrator | $2,307,564 | $0 |
| Harbourvest Partners, LP | Custodial (securities); Investment management | $2,123,363 | $0 |
| H.I.G. Capital, LLC | Investment management | $1,908,766 | $0 |
| JP Morgan Asset Management Inc. | Investment advisory (plan); Investment management | $1,082,031 | $0 |
| Ullico Investment Advisors Inc. | Investment management | $895,931 | $0 |
| Bpea Private Equity | Custodial (securities); Investment management | $637,414 | $0 |
| Aberdeen Capital Management | Custodial (securities) | $603,750 | $0 |
| Baird Advisors | Investment management | $578,663 | $0 |
| Carlyle Investment Services | Custodial (securities); Investment management | $463,324 | $0 |
| National Investment Services of Ame | Investment management; Custodial (securities) | $432,628 | $0 |
| Parametric Portfolio Associates, LL | Custodial (securities); Investment management | $417,762 | $0 |
| State Street Global Advisors Trust | Custodial (securities); Investment management | $316,874 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 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$11,218,289
- Contract administrator fees$2,114,000
- Other administrative expenses$1,939,234
- Legal fees$282,763
- IQPA audit fees$79,660
- Other trustee fees and expenses$72,469
- Actuarial fees$51,987
- Total administrative expenses$15,758,402
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$1.76B · 49.9%
- Partnership/joint venture interests$746M · 21.1%
- Corporate debt instruments$363M · 10.3%
- U.S. Government securities$332M · 9.4%
- Other investments$195M · 5.5%
- Cash (interest and non-interest bearing)$49.0M · 1.4%
- Registered investment companies (mutual funds)$48.9M · 1.4%
- Receivables$30.8M · 0.9%
- Buildings and other property used in plan operation$4.3M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCliftonLarsonAllen LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
1ABenefits are primarily pay related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 236200: Nonresidential Building Construction.
Similar plans in Wisconsin
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| North Central States Regional Council of Carpenters Pension Fund | Joint Board of Trustees of North Central States Regional Council of | 18,092 | $1.83B | $101,142 |
| Wisconsin Laborers' Pension Fund | Trustees of Wisconsin Laborers' Pension Fund | 11,411 | $1.14B | $100,198 |
| Electrical Construction Industry Pension Plan | Electrical Construction Industry Pension Plan Board of Trustees | 4,993 | $651M | $130,416 |
| Wisconsin Masons Pension Fund | Board of Trustees of Wisconsin Masons Pension Fund | 3,243 | $327M | $100,735 |
| Defined Benefit Pension Plan of the Plumbers & Steamfitters Local 400 and Mechanical Contractors Association of North Central Wisconsin | Board of Trustees | 2,274 | $273M | $120,118 |
| Painters Local Union 802 Retirement Plan | Trustees of Painters Local Union 802 | 1,095 | $81.1M | $74,106 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Building Trades United Pension Trust Fund Milwaukee and Vicinity?
28,408 participants at the end of the plan year ending 31 May 2025, of whom 9,922 were active employees, with net assets of $3,521,466,149. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Building Trades United Pension Trust Fund contribute per participant?
The filing reports $220,333,002 in employer contributions for the year, which is $22,207 per active participant; the median for plans of the same type and size was $6,524 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 $13,634,623 in compensation to service provider organisations, $480 per participant or 0.39% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $15,758,402. 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 Building Trades United Pension Trust Fund. Recordkeeping or administration: Wilson-McShane Corporation. Investment advisory or management: Harbourvest Partners, LP, H.I.G. Capital, LLC and JP Morgan Asset Management Inc.. Trustee or custodian: Harbourvest Partners, LP, Bpea Private Equity and Aberdeen Capital Management. The financial statements were audited by CliftonLarsonAllen 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 4 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 51-6049409, plan 001, received 4 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.