Maryland › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Hagerstown Motor Carriers and Teamsters Pension Plan
Sponsored by Board of Trustees Hagerstown Motor Carriers and, 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.
Board of Trustees Hagerstown Motor Carriers and of Hagerstown, Maryland sponsors Hagerstown Motor Carriers and Teamsters Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 30 Jun 2025 shows 1,522 participants (357 active) and $223M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $146,666 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $13.6M for the year ($38,137 per active participant) and benefits paid were $19.1M. 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 $1.3M: $869 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.4M. 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 $132M in 2009 to $223M in 2024 (up 69%), and participants from 1,709 to 1,522 (down 11%).
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 | $146,666 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $38,137 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $869 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.59% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $890 | $513 | $650 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), transportation and warehousing (227) 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 | 1,522 | $223M | $146,666 | $13.6M | — | $1.3M |
| 2023 | 1,572 | $207M | $131,455 | $13.8M | — | $1.7M |
| 2022 | 1,735 | $187M | $107,627 | $15.0M | — | $1.5M |
| 2021 | 1,697 | $174M | $102,635 | $14.4M | — | $1.2M |
| 2020 | 1,682 | $195M | $115,811 | $13.1M | — | $1.3M |
| 2019 | 1,682 | $157M | $93,402 | $11.8M | — | $1.1M |
| 2018 | 1,708 | $162M | $94,670 | $10.3M | — | $941K |
| 2017 | 1,692 | $158M | $93,529 | $9.4M | — | $985K |
| 2016 | 1,650 | $148M | $89,444 | $9.1M | — | $928K |
| 2015 | 1,735 | $139M | $79,847 | $8.5M | — | $811K |
| 2014 | 1,673 | $146M | $87,432 | $7.8M | — | $819K |
| 2013 | 1,690 | $150M | $89,001 | $7.5M | — | $822K |
| 2012 | 1,748 | $140M | $79,939 | $6.0M | — | $874K |
| 2011 | 1,685 | $135M | $79,981 | $5.6M | — | $750K |
| 2010 | 1,683 | $146M | $86,642 | $5.1M | — | $970K |
| 2009 | 1,709 | $132M | $77,116 | $5.0M | — | $1.0M |
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$206,646,763
- Employer contributions$13,614,751
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$13,614,751
- Total income, including investment results$37,054,659
- Benefits paid$19,120,306
- Administrative expenses$1,354,904
- Total expenses$20,475,210
- Net income$16,579,449
- Net transfers$0
- Net assets, end of year$223,226,212
Participants
- Active participants357
- Retired or separated, receiving benefits749
- Retired or separated, entitled to future benefits195
- Total participants, end of year1,522
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Crescent Capital Group LP | Investment management | $0 | $215,685 |
| Oaktree Capital Management LP | Investment management | $0 | $208,014 |
| Benesys, Inc. | Contract Administrator | $176,059 | $0 |
| Boston Partners Global Investors | Investment management | $173,006 | $0 |
| Loomis Sayles Trust Company, LLC | Investment management | $116,655 | $0 |
| Gallagher Fiduciary Advisors LLC | Investment advisory (plan) | $84,000 | $0 |
| Rae Group LLC | Actuarial | $75,761 | $0 |
| Mooney, Green, Saindon, Murphy & We | Legal | $57,511 | $0 |
| Morgan, Lewis & Bockius LLP | Legal | $57,149 | $0 |
| Newtower Trust Company | Investment management; Trustee (bank, trust company, or similar financial institution) | $0 | $42,433 |
| Parametric Portfolio Associates LLC | Investment management | $32,166 | $0 |
| United Bank | Recordkeeping and information management; Custodial (securities) | $30,286 | $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$776,054
- Contract administrator fees$176,059
- Other administrative expenses$148,975
- Legal fees$114,660
- Actuarial fees$75,761
- Trustee and custodial fees$40,364
- IQPA audit fees$19,250
- Recordkeeping fees$3,781
- Total administrative expenses$1,354,904
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$120M · 53.8%
- Registered investment companies (mutual funds)$47.0M · 21.1%
- Corporate stocks$22.3M · 10.0%
- Partnership/joint venture interests$13.7M · 6.2%
- 103-12 investment entities$9.7M · 4.3%
- Pooled separate accounts$6.1M · 2.7%
- Cash (interest and non-interest bearing)$2.8M · 1.2%
- Receivables$1.4M · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmNovak Francella, LLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
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 484110: General Freight Trucking, Local.
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Warehouse Employees Union Local No. 730 Pension Trust Fund | Board of Trustees of Warehouse Employees Local No. 730 Pension Trust F | 1,940 | $150M | $77,547 |
| Masters Mates & Pilots Adjustable Pension Plan | Board of Trustees of the Masters Mates & Pilots Adjustable Pension Pla | 1,508 | $103M | $68,163 |
| Freight Drivers and Helpers Local Union No. 557 Pension Plan | Board of Trustees, Freight Drivers and Helpers Local Union No. 557 | 1,980 | $212M | $107,238 |
| Seafarers Officers and Employees Pension Plan | Board of Trustees Seafarers Officers and Employees Pension Plan | 1,138 | $279M | $244,927 |
| Warehouse Employees Local No. 570 Pension Fund | Warehouse Employees Local No. 570 | 2,942 | $255M | $86,718 |
| Retirement Plan for Employees of Piedmont Airlines, Inc. | Piedmont Airlines, Inc. | 1,038 | $10.4M | $10,001 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Hagerstown Motor Carriers and Teamsters Pension Plan?
1,522 participants at the end of the plan year ending 30 Jun 2025, of whom 357 were active employees, with net assets of $223,226,212. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Board of Trustees Hagerstown Motor Carriers and contribute per participant?
The filing reports $13,614,751 in employer contributions for the year, which is $38,137 per active participant; the median for plans of the same type and size was $10,593 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 $1,322,461 in compensation to service provider organisations, $869 per participant or 0.59% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,354,904. 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 Board of Trustees Hagerstown Motor Carriers and. Recordkeeping or administration: Benesys, Inc. and United Bank. Investment advisory or management: Crescent Capital Group LP, Oaktree Capital Management LP and Boston Partners Global Investors. Trustee or custodian: Newtower Trust Company and United Bank. The financial statements were audited by Novak Francella, LLC. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 15 Apr 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 52-6045424, plan 001, received 15 Apr 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.