Maryland › Finance and insurance › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Brethren Mutual Insurance Company Employee Retirement Plan
Sponsored by Brethren Mutual Insurance Company, Hagerstown, MD
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.
Brethren Mutual Insurance Company Employee Retirement Plan is a defined benefit pension plan sponsored by Brethren Mutual Insurance Company of Hagerstown, Maryland. For the plan year ending 31 Dec 2024 it reported 105 participants, 49 of them active, and net assets of $15.8M.
Net assets came to $150,926 per participant, well above the $80,635 median for defined benefit plans with 100 to 249 participants and well above the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $38K: $361 per participant, below the same-size median of $451. Administrative expenses charged to the plan were $0. 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 $5.4M in 2009 to $15.8M in 2024 (up 195%), and participants from 161 to 105 (down 35%).
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 | $150,926 | $80,635 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,975 | $7,849 | $10,244 |
| Schedule C compensation per participant | $361 | $451 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.24% | 0.52% | 0.32% | 0.42% |
| Administrative expenses per participant | — | $582 | $433 | $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), finance and insurance (690) 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 | 105 | $15.8M | $150,924 | — | — | $38K |
| 2023 | 109 | $15.1M | $138,073 | $800K | — | $42K |
| 2022 | 114 | $13.2M | $115,474 | $1.1M | — | $38K |
| 2021 | 116 | $17.5M | $151,207 | $800K | — | $1,000 |
| 2020 | 122 | $16.7M | $137,098 | $800K | $0 | $31K |
| 2019 | 125 | $14.5M | $116,008 | $800K | $0 | $0 |
| 2018 | 131 | $12.8M | $97,344 | $800K | — | $34K |
| 2017 | 135 | $13.2M | $97,830 | $1.1M | — | $32K |
| 2016 | 138 | $11.1M | $80,174 | $800K | — | $27K |
| 2015 | 144 | $10.1M | $70,000 | $800K | — | $0 |
| 2014 | 148 | $10.4M | $70,392 | $600K | — | $0 |
| 2013 | 154 | $9.9M | $64,039 | $916K | — | $0 |
| 2012 | 150 | $8.0M | $53,260 | $781K | — | $0 |
| 2011 | 155 | $6.7M | $42,923 | $600K | — | $0 |
| 2010 | 160 | $6.3M | $39,300 | $368K | — | $0 |
| 2009 | 161 | $5.4M | $33,354 | $475K | — | $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$15,049,768
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$1,593,408
- Benefits paid$795,936
- Administrative expenses$0
- Total expenses$795,936
- Net income$797,472
- Net transfers$0
- Net assets, end of year$15,847,240
Participants
- Active participants49
- Retired or separated, receiving benefits25
- Retired or separated, entitled to future benefits29
- Participants with account balances0
- Total participants, end of year105
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Cambridge Investment Research Advis | Investment advisory (plan) | $0 | $37,926 |
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.
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)$11.8M · 74.7%
- Pooled separate accounts$4.0M · 25.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBuffamante Whipple Buttafaro, P.C.
- 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
1ABenefits are primarily pay related3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524150: Direct Insurance (except Life, Health & Medical) Carriers.
Other plans of Brethren Mutual Insurance Company
| Plan | Participants | Net assets |
|---|---|---|
| Brethren Mutual Insurance Company 401(k) Retirement Plan | 155 | $26.9M |
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Waterfront Warehouses Local No. 1429 Pension Fund | Board of Trustees of Waterfront Warehouses Local No. 1429 Pension | 118 | $11.4M | $96,986 |
| MG Retirement Plan | Gea North America, Inc. | 146 | $11.5M | $78,969 |
| International Association of Heat & Frost Insulators and Allied Workers 13 Pension | Allied Workers 13 Pension Fund | 152 | $17.1M | $112,817 |
| American Postal Workers Union Health Plan Management Staff Pension Plan | American Postal Workers Union, AFL-CIO Health Plan | 170 | $27.3M | $160,751 |
| Securityplus Federal Credit Union Retirement Pension Plan | Securityplus Federal Credit Union | 202 | $34.0M | $168,128 |
| Service Benefit Plan Administrative Services Corp. Retirement Plan | Service Benefit Plan Administrative Services Corporation | 267 | $53.2M | $199,431 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Brethren Mutual Insurance Company Employee Retirement Plan?
105 participants at the end of the plan year ending 31 Dec 2024, of whom 49 were active employees, with net assets of $15,847,240. 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 Brethren Mutual Insurance Company 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 $37,926 in compensation to service provider organisations, $361 per participant or 0.24% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $0. 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 Brethren Mutual Insurance Company. Investment advisory or management: Cambridge Investment Research Advis. The financial statements were audited by Buffamante Whipple Buttafaro, 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 10 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 52-0254590, plan 001, received 10 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.