Maryland › Construction › 100 to 249 participants
Form 5500 statement · plan year 1 May 2024 to 30 Apr 2025
Plumbers & Steamfitters Local No 489 Annuity Plan
Sponsored by Trustees of Plumbers & Steamfitter Local No 489 Annuity Plan, Cumberland, 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.
Plumbers & Steamfitters Local No 489 Annuity Plan is a money purchase plan sponsored by Trustees of Plumbers & Steamfitter Local No 489 Annuity Plan of Cumberland, Maryland. For the plan year ending 30 Apr 2025 it reported 188 participants, 182 of them active, and net assets of $13.9M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $74,013 per participant, above the $60,185 median for defined contribution plans with 100 to 249 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 $524K during the year, or $2,878 per active participant against a same-size median of $2,447; participants contributed —. Benefits paid out totalled $1.3M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $63K: $333 per participant, well above the same-size median of $194. Administrative expenses charged to the plan were $63K. 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 $4.4M in 2009 to $13.9M in 2024 (up 217%), and participants from 194 to 188 (down 3%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $74,013 | $60,185 | $54,962 | $53,102 |
| Employer contributions per active participant | $2,878 | $2,447 | $2,728 | $2,175 |
| Schedule C compensation per participant | $333 | $194 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.45% | 0.32% | 0.33% | 0.26% |
| Administrative expenses per participant | $337 | $176 | $166 | $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), 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 | 188 | $13.9M | $74,011 | $524K | — | $63K |
| 2023 | 188 | $13.5M | $71,590 | $568K | — | $67K |
| 2022 | 184 | $11.8M | $63,951 | $531K | — | $58K |
| 2021 | 189 | $11.7M | $61,989 | $487K | — | $84K |
| 2020 | 182 | $12.4M | $67,967 | $423K | — | $186K |
| 2019 | 183 | $9.6M | $52,317 | $507K | — | $67K |
| 2018 | 169 | $9.8M | $58,166 | $527K | — | $71K |
| 2017 | 165 | $9.5M | $57,473 | $485K | — | $58K |
| 2016 | 144 | $8.5M | $58,813 | $410K | — | $49K |
| 2015 | 136 | $7.5M | $54,816 | $470K | — | $52K |
| 2014 | 147 | $7.9M | $54,054 | $720K | — | $62K |
| 2013 | 151 | $7.1M | $46,828 | $581K | — | $54K |
| 2012 | 151 | $6.1M | $40,497 | $464K | — | $82K |
| 2011 | 174 | $5.7M | $32,908 | $396K | — | $40K |
| 2010 | 185 | $5.4M | $29,416 | $699K | — | $19K |
| 2009 | 194 | $4.4M | $22,649 | $548K | — | $27K |
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$13,458,990
- Employer contributions$523,778
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$523,778
- Total income, including investment results$1,871,349
- Benefits paid$1,326,803
- Administrative expenses$63,396
- Total expenses$1,415,863
- Net income$455,486
- Net transfers$0
- Net assets, end of year$13,914,476
Participants
- Active participants182
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits1
- Participants with account balances188
- Total participants, end of year188
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley Smith Barney | Investment advisory (plan) | $26,183 | $0 |
| Turnbull, Hoover, & Kahl, P.A. | Accounting (including auditing) | $15,000 | $0 |
| Frank Gordon Gerwig & Associates | Plan Administrator | $12,400 | $0 |
| Beins, Axelrod P.C. | Legal | $7,500 | $0 |
| Transamerica Retirement Solutions | Claims processing; Recordkeeping and information management; Investment management; Participant loan processing; Participant communication | $1,473 | $0 |
| National Financial Services | Securities brokerage | $0 | $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
- Investment advisory and management fees$26,183
- IQPA audit fees$15,000
- Contract administrator fees$12,400
- Legal fees$7,500
- Recordkeeping fees$1,473
- Other administrative expenses$840
- Total administrative expenses$63,396
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)$13.8M · 99.5%
- Participant loans$51K · 0.4%
- Cash (interest and non-interest bearing)$25K · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmTurnbull, Hoover, & Kahl, P.A.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $150,000
- 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) plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Boland Enterprises Profit Sharing 401(k) Plan for Service Engineers Bargaining Unit | Boland Trane Services, Inc. | 189 | $17.9M | $94,950 |
| Miller Refrigeration, Inc. Profit Sharing Plan | Miller Refrigeration, Inc. | 187 | $10.8M | $57,957 |
| The Bartley Corporation Savings Plan | The Bartley Corporation | 190 | $10.2M | $53,678 |
| Tate Engineering Systems, Inc. Retirement Savings Plan | Tate Engineering Systems, Inc. | 179 | $11.5M | $64,237 |
| Smith Mechanical 401(k) Profit Sharing Plan | Smith Mechanical | 190 | $4.3M | $22,815 |
| George Moehrle Masonry, Inc. Retirement Plan | George Moehrle Masonry, Inc. | 179 | $5.0M | $27,854 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Plumbers & Steamfitters Local No 489 Annuity Plan?
188 participants at the end of the plan year ending 30 Apr 2025, of whom 182 were active employees, with net assets of $13,914,476. 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 Trustees of Plumbers & Steamfitter Local No 489 Annuity Plan contribute per participant?
The filing reports $523,778 in employer contributions for the year, which is $2,878 per active participant; the median for plans of the same type and size was $2,447 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 $62,556 in compensation to service provider organisations, $333 per participant or 0.45% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $63,396. 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 Trustees of Plumbers & Steamfitter Local No 489 Annuity Plan. Recordkeeping or administration: Frank Gordon Gerwig & Associates and Transamerica Retirement Solutions. Investment advisory or management: Morgan Stanley Smith Barney and Transamerica Retirement Solutions. The financial statements were audited by Turnbull, Hoover, & Kahl, P.A.. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 9 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 52-1975410, plan 002, received 9 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.