Maryland › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Board of Electrical Workers Local #26 I.A. Individual Account Plan
Sponsored by BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund, Lanham, 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.
Board of Electrical Workers Local #26 I.A. Individual Account Plan is a defined contribution plan sponsored by BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund of Lanham, Maryland. For the plan year ending 31 Dec 2024 it reported 13,624 participants, 12,273 of them active, and net assets of $1.30B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $95,246 per participant, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $54,962 median for defined contribution 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.
The employer contributed $60.6M during the year, or $4,937 per active participant against a same-size median of $2,424; participants contributed — and $180K arrived as rollovers and other contributions. Benefits paid out totalled $68.0M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $1.5M: $110 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.8M. 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 $338M in 2009 to $1.30B in 2024 (up 284%), and participants from 10,089 to 13,624 (up 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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $95,246 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $4,937 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $110 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.12% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $136 | $54.85 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), construction (4,204) 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 | 13,624 | $1.30B | $95,246 | $60.6M | — | $1.5M |
| 2023 | 12,827 | $1.13B | $88,296 | $51.9M | — | $961K |
| 2022 | 12,506 | $948M | $75,785 | $50.9M | — | $1.1M |
| 2021 | 12,104 | $1.14B | $93,950 | $47.2M | — | $1.1M |
| 2020 | 11,673 | $977M | $83,691 | $43.2M | — | $1.0M |
| 2019 | 11,405 | $839M | $73,536 | $39.0M | — | $557K |
| 2018 | 10,911 | $674M | $61,749 | $33.9M | — | $493K |
| 2017 | 10,393 | $709M | $68,254 | $32.7M | — | $425K |
| 2016 | 9,414 | $583M | $61,924 | $28.8M | — | $380K |
| 2015 | 9,620 | $539M | $56,007 | $25.5M | — | $321K |
| 2014 | 9,587 | $537M | $56,018 | $24.4M | — | $296K |
| 2013 | 9,714 | $510M | $52,459 | $25.0M | — | $286K |
| 2012 | 9,869 | $423M | $42,845 | $25.5M | — | $288K |
| 2011 | 9,813 | $372M | $37,867 | $24.0M | — | $393K |
| 2010 | 9,948 | $379M | $38,105 | $23.8M | — | $508K |
| 2009 | 10,089 | $338M | $33,524 | $25.2M | — | $487K |
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$1,132,578,571
- Employer contributions$60,592,701
- Participant contributions—
- Rollovers and other contributions$180,479
- Total contributions$60,773,180
- Total income, including investment results$234,910,190
- Benefits paid$68,016,587
- Administrative expenses$1,846,801
- Total expenses$69,863,388
- Net income$165,046,802
- Net transfers$0
- Net assets, end of year$1,297,625,373
Participants
- Active participants12,273
- Retired or separated, receiving benefits149
- Retired or separated, entitled to future benefits1,153
- Participants with account balances13,624
- Total participants, end of year13,624
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Electrical Welfare Trust Fund | Contract Administrator | $717,877 | $0 |
| Fidelity Invmts. Inst. Operations | Sub-transfer agency fees; Account maintenance fees; Recordkeeping fees | $655,515 | $0 |
| Sarfino and Rhoades, LLP | Accounting (including auditing) | $60,935 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $49,150 | $0 |
| Slevin & Hart P.C. | Legal | $13,019 | $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
- Contract administrator fees$717,877
- Recordkeeping fees$389,826
- Investment advisory and management fees$314,839
- Other administrative expenses$240,568
- Legal fees$122,756
- IQPA audit fees$60,935
- Total administrative expenses$1,846,801
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$1.02B · 78.3%
- Registered investment companies (mutual funds)$267M · 20.6%
- Cash (interest and non-interest bearing)$8.1M · 0.6%
- Receivables$6.4M · 0.5%
- Buildings and other property used in plan operation$7,376 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmSarfino and Rhoades, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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
2FERISA section 404(c) plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Mid-Atlantic Regional Council of Carpenters' Annuity Fund | Board of Trustees Mid-Atlantic Regional Council of Carpenters' Annuity | 13,746 | $126M | $9,141 |
| The Whiting-Turner Contracting Company 401(k) Plan | The Whiting-Turner Contracting Company | 6,803 | $1.19B | $174,245 |
| International Painters and Allied Trades Industry Annuity Plan | Intl Painters & Allied Trades Ind. Pension Fund- | 25,947 | $635M | $24,457 |
| Steamfitters Local 602 Retirement Savings Plan Savings Plan | Board of Trustees - Steamfitters Local 602 Retirement Savings Plan | 6,127 | $522M | $85,118 |
| Sprinkler Industry Supplemental Pension Fund | Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees | 29,607 | $2.94B | $99,312 |
| Operating Engineers Local 77 Individual Account Plan | Board of Trustees Operating Engineers Local 77 Individual Account Plan | 5,491 | $51.7M | $9,416 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Board of Electrical Workers Local #26 I.A. Individual Account Plan?
13,624 participants at the end of the plan year ending 31 Dec 2024, of whom 12,273 were active employees, with net assets of $1,297,625,373. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund contribute per participant?
The filing reports $60,592,701 in employer contributions for the year, which is $4,937 per active participant; the median for plans of the same type and size was $2,424 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 $1,496,496 in compensation to service provider organisations, $110 per participant or 0.12% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $1,846,801. 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 BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund. Recordkeeping or administration: Electrical Welfare Trust Fund and Fidelity Invmts. Inst. Operations. Investment advisory or management: Segal Marco Advisors. The financial statements were audited by Sarfino and Rhoades, 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 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 52-1250801, plan 001, received 15 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.