Maryland › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
International Painters and Allied Trades Industry Pension Plan
Sponsored by Intl Painters & Allied Trades Ind. Pension Fund- Board of Trustees, Hanover, 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.
International Painters and Allied Trades Industry Pension Plan is a defined benefit pension plan sponsored by Intl Painters & Allied Trades Ind. Pension Fund- Board of Trustees of Hanover, Maryland. For the plan year ending 31 Dec 2024 it reported 95,494 participants, 43,757 of them active, and net assets of $4.44B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $46,461 per participant, well below the $88,040 median for defined benefit plans with 25,000 or more 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 $439M for the year ($10,031 per active participant) and benefits paid were $436M. 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 $12.5M: $131 per participant, below the same-size median of $143. Administrative expenses charged to the plan were $24.1M. 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 $2.58B in 2009 to $4.44B in 2024 (up 72%), and participants from 79,110 to 95,494 (up 21%).
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 | $46,461 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $10,031 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $131 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.28% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $253 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 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 | 95,494 | $4.44B | $46,461 | $439M | — | $12.5M |
| 2023 | 95,637 | $4.07B | $42,538 | $407M | — | $12.3M |
| 2022 | 94,638 | $3.76B | $39,697 | $375M | — | $13.1M |
| 2021 | 102,956 | $4.18B | $40,627 | $359M | — | $21.1M |
| 2020 | 90,621 | $3.82B | $42,131 | $339M | — | $19.7M |
| 2019 | 92,501 | $3.61B | $39,031 | $367M | — | $25.0M |
| 2018 | 91,690 | $3.19B | $34,741 | $332M | — | $20.6M |
| 2017 | 84,573 | $3.38B | $39,942 | $306M | — | $24.3M |
| 2016 | 84,437 | $3.06B | $36,276 | $273M | — | $22.1M |
| 2015 | 79,161 | $2.97B | $37,456 | $249M | — | $20.6M |
| 2014 | 78,301 | $3.06B | $39,088 | $233M | — | $19.8M |
| 2013 | 78,203 | $3.02B | $38,645 | $230M | — | $16.8M |
| 2012 | 78,491 | $2.78B | $35,394 | $218M | — | $12.6M |
| 2011 | 77,278 | $2.61B | $33,793 | $213M | — | $11.7M |
| 2010 | 76,766 | $2.72B | $35,437 | $192M | — | $8.8M |
| 2009 | 79,110 | $2.58B | $32,581 | $209M | — | $15.4M |
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$4,068,219,405
- Employer contributions$438,909,049
- Participant contributions—
- Rollovers and other contributions$4,035,437
- Total contributions$442,944,486
- Total income, including investment results$828,890,324
- Benefits paid$436,288,871
- Administrative expenses$24,119,874
- Total expenses$460,408,745
- Net income$368,481,579
- Net transfers$0
- Net assets, end of year$4,436,700,984
Participants
- Active participants43,757
- Retired or separated, receiving benefits25,392
- Retired or separated, entitled to future benefits19,606
- Total participants, end of year95,494
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Tucker Arensberg PC | Legal | $2,425,327 | $0 |
| Intl Union of Painters & Allied Tra | Other services | $1,269,900 | $0 |
| Vitech Systems Group Inc. | Other services | $1,161,278 | $0 |
| Verus Advisory, Inc. | Investment advisory (plan) | $671,005 | $0 |
| Painting Industry Insurance & Annui | Recordkeeping and information management | $670,612 | $0 |
| Northern Trust Corporation | Custodial (securities) | $636,520 | $0 |
| Novak Francella LLC | Accounting (including auditing) | $419,662 | $0 |
| Acadian Asset Management LLC | Investment management | $341,685 | $0 |
| The Segal Company, Inc. | Actuarial | $332,150 | $0 |
| Nepc LLC | Investment advisory (plan) | $330,019 | $0 |
| Schultheis & Panettieri, LLP | Accounting (including auditing) | $320,402 | $0 |
| Bredhoff & Kaiser | Legal | $284,791 | $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
- Other administrative expenses$7,616,809
- Salaries and allowances$6,552,937
- Investment advisory and management fees$3,240,661
- Legal fees$2,997,912
- Recordkeeping fees$2,203,071
- Contract administrator fees$566,723
- Actuarial fees$332,150
- Other trustee fees and expenses$293,643
- IQPA audit fees$159,120
- Trustee and custodial fees$156,848
- Total administrative expenses$24,119,874
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$1.40B · 30.8%
- Partnership/joint venture interests$1.21B · 26.5%
- Other investments$979M · 21.5%
- Receivables$217M · 4.8%
- 103-12 investment entities$214M · 4.7%
- Real estate$161M · 3.5%
- U.S. Government securities$134M · 2.9%
- Corporate debt instruments$102M · 2.3%
- Pooled separate accounts$64.1M · 1.4%
- Registered investment companies (mutual funds)$49.2M · 1.1%
- Insurance company general account$20.4M · 0.4%
- Buildings and other property used in plan operation$1.1M · 0.0%
- Cash (interest and non-interest bearing)$5,256 · 0.0%
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 238300: Building Finishing Contractors (including drywall, insulation, painting, wallcovering, flooring, tile, & finish carpentry).
Other plans of Intl Painters & Allied Trades Ind. Pension Fund- Board of Trustees
| Plan | Participants | Net assets |
|---|---|---|
| International Painters and Allied Trades Industry Annuity Plan | 25,947 | $635M |
Similar plans in Maryland
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| National Electrical Benefit Fund | Trustees of the National Electrical Benefit Fund | 736,031 | $20.8B | $28,304 |
| National Automatic Sprinkler Industry Pension Fund | National Automatic Sprinkler Industry Pension Fund JT Board of Trustee | 34,009 | $4.75B | $139,691 |
| Electrical Workers Local No. 26 Pension Trust Fund | Electrical Workers Local No 26 Pension Trust Fund | 13,539 | $1.03B | $76,112 |
| Mid-Atlantic Regional Council of Carpenters' Pension Plan | Board of Trustees - Marc Pension Plan | 9,688 | $572M | $59,064 |
| Heating, Piping and Refrigeration Pension FD Pension Fund | BD of Tees Heating, Piping & Refrigeration Pension Fund | 8,132 | $1.36B | $167,365 |
| Plumbers and Steamfitters Local 486 Pension Fund | Plumbers and Steamfitters 486 Pension Fund Board of Trustees | 3,602 | $382M | $106,027 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is International Painters and Allied Trades Industry Pension Plan?
95,494 participants at the end of the plan year ending 31 Dec 2024, of whom 43,757 were active employees, with net assets of $4,436,700,984. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Intl Painters & Allied Trades Ind. Pension Fund- Board of Trustees contribute per participant?
The filing reports $438,909,049 in employer contributions for the year, which is $10,031 per active participant; the median for plans of the same type and size was $6,524 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 $12,481,797 in compensation to service provider organisations, $131 per participant or 0.28% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $24,119,874. 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 Intl Painters & Allied Trades Ind. Pension Fund- Board of Trustees. Recordkeeping or administration: Painting Industry Insurance & Annui. Investment advisory or management: Verus Advisory, Inc., Acadian Asset Management LLC and Nepc LLC. Trustee or custodian: Northern Trust Corporation. 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 2 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 52-6073909, plan 001, received 2 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.