Michigan › Construction › 100 to 249 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Sign, Pictorial and Display Union Local No. 591 AFL-CIO Pension Fund
Sponsored by JT BD of Trustees, Sign Pictorial Display Un Local 591 Aflcio Pen FD, Bingham Farms, 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.
Sign, Pictorial and Display Union Local No. 591 AFL-CIO Pension Fund is a defined benefit pension plan sponsored by JT BD of Trustees, Sign Pictorial Display Un Local 591 Aflcio Pen FD of Bingham Farms, Michigan. For the plan year ending 30 Apr 2025 it reported 244 participants, 37 of them active, and net assets of $19.4M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $79,460 per participant, close to the $80,635 median for defined benefit plans with 100 to 249 participants and well 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 $352K for the year ($9,508 per active participant) and benefits paid were $1.6M. 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.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $297K.
Across the filings on record, net assets went from $12.5M in 2009 to $19.4M in 2024 (up 55%), and participants from 334 to 244 (down 27%).
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 | $79,460 | $80,635 | $100,593 | $86,221 |
| Employer contributions per active participant | $9,508 | $9,975 | $13,292 | $10,244 |
| Schedule C compensation per participant | — | $451 | $443 | $344 |
| Schedule C compensation, share of net assets | — | 0.52% | 0.46% | 0.42% |
| Administrative expenses per participant | $1,217 | $582 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 100 to 249 participants (1,156 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 | 244 | $19.4M | $79,459 | $352K | — | $0 |
| 2023 | 250 | $19.1M | $76,352 | $432K | — | $192K |
| 2022 | 257 | $18.7M | $72,689 | $506K | — | $184K |
| 2021 | 258 | $19.5M | $75,395 | $510K | — | $203K |
| 2020 | 263 | $22.2M | $84,411 | $252K | — | $207K |
| 2019 | 278 | $17.1M | $61,439 | $517K | — | $187K |
| 2018 | 279 | $18.6M | $66,638 | $713K | — | $201K |
| 2017 | 283 | $17.8M | $62,929 | $847K | — | $203K |
| 2016 | 293 | $16.5M | $56,328 | $740K | — | $186K |
| 2015 | 296 | $15.2M | $51,365 | $629K | — | $174K |
| 2014 | 302 | $16.1M | $53,182 | $536K | — | $192K |
| 2013 | 302 | $15.2M | $50,430 | $520K | — | $189K |
| 2012 | 307 | $14.1M | $46,023 | $537K | — | $171K |
| 2011 | 315 | $13.3M | $42,063 | $637K | — | $159K |
| 2010 | 323 | $13.4M | $41,387 | $447K | — | $153K |
| 2009 | 334 | $12.5M | $37,491 | $476K | — | $139K |
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$19,087,984
- Employer contributions$351,800
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$351,800
- Total income, including investment results$2,166,557
- Benefits paid$1,569,482
- Administrative expenses$296,828
- Total expenses$1,866,310
- Net income$300,247
- Net transfers$0
- Net assets, end of year$19,388,231
Participants
- Active participants37
- Retired or separated, receiving benefits85
- Retired or separated, entitled to future benefits100
- Total participants, end of year244
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley | — | $0 | $0 |
| Novara Tesija & Catenacci, PLLC | — | $0 | $0 |
| Tic International, Corp. | — | $0 | $0 |
| United Actuarial Servcies | — | $0 | $0 |
| Benda, Grace, Stulz & Company, P.C. | — | $0 | $0 |
| Delaware Capital | — | $0 | $0 |
| Confluence Investment Management | — | $0 | $0 |
| Clearbridge Investments, LLC | — | $0 | $0 |
| Earnest Partners | — | $0 | $0 |
| Invesco | — | $0 | $0 |
| Lazard Asset Management | — | $0 | $0 |
| Polen Capital | — | $0 | $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$130,892
- Legal fees$70,558
- Contract administrator fees$29,113
- Other administrative expenses$27,486
- Actuarial fees$20,000
- IQPA audit fees$16,400
- Other trustee fees and expenses$2,379
- Total administrative expenses$296,828
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.
- Corporate stocks$10.9M · 56.2%
- Registered investment companies (mutual funds)$3.5M · 17.9%
- U.S. Government securities$2.1M · 10.8%
- Corporate debt instruments$1.4M · 7.0%
- Other investments$1.0M · 5.2%
- Cash (interest and non-interest bearing)$468K · 2.4%
- Receivables$67K · 0.3%
- Buildings and other property used in plan operation$17K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBenda, Grace, Stulz & Company, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $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 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in Michigan
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Edw. C. Levy Co. Hourly Employees' Retirement Income Plan | Edw. C. Levy Co. | 246 | $23.8M | $96,753 |
| Cement Masons Pension Fund of Local No. 165 | Board of Trustees for Cement Masons | 192 | $46.5M | $242,057 |
| Roofers Local No. 86 Pension Fund | Board of Trustees, Roofers Local Union No. 86 Pension Fund | 247 | $17.0M | $68,657 |
| IBEW Local No 461 Variable Pension Plan | Board of Trustees IBEW Local No 461 Variable Pension Plan | 296 | $6.4M | $21,761 |
| Bricklayers and Masons Local No. 22 Pension Plan | Bricklayers and Masons Local NO.22 Pension Plan | 415 | $28.8M | $69,470 |
| IBEW Local No. 32 - Neca Pension Plan | Board of Trustees of the IBEW Local No. 32 - Neca Pension Plan | 513 | $40.8M | $79,510 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Sign, Pictorial and Display Union Local No. 591 AFL-CIO Pension Fund?
244 participants at the end of the plan year ending 30 Apr 2025, of whom 37 were active employees, with net assets of $19,388,231. Among defined benefit plans that places it in the 100 to 249 participants band, which held 1,156 plans in plan year 2024.
What does JT BD of Trustees, Sign Pictorial Display Un Local 591 Aflcio Pen FD contribute per participant?
The filing reports $351,800 in employer contributions for the year, which is $9,508 per active participant; the median for plans of the same type and size was $9,975 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 no provider compensation for the year. Administrative expenses on Schedule H were $296,828. 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 JT BD of Trustees, Sign Pictorial Display Un Local 591 Aflcio Pen FD. The financial statements were audited by Benda, Grace, Stulz & Company, 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 May 2024 to 30 Apr 2025, received by the Department of Labor on 10 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 51-6079899, plan 001, received 10 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.