Maryland › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
National Electrical Annuity Plan
Sponsored by Trustees of the National Electrical Annuity Plan, Rockville, 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.
In the plan year ending 31 Dec 2025, National Electrical Annuity Plan covered 195,719 participants and held $19.2B in net assets. The plan is a money purchase plan sponsored by Trustees of the National Electrical Annuity Plan of Rockville, Maryland. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $91,872 per participant in plan year 2024, well above the $62,774 median for defined contribution plans with 25,000 or more 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 $1.35B during the year, or $13,948 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $722M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $27.4M: $140 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $30.1M. 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 $2.70B in 2009 to $19.2B in 2025 (up 610%), and participants from 82,433 to 195,719 (up 137%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $91,872 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $13,275 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $146 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.16% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $165 | $38.81 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 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 |
|---|---|---|---|---|---|---|
| 2025 | 195,719 | $19.2B | $97,856 | $1.35B | — | $27.4M |
| 2024 | 182,716 | $16.8B | $91,872 | $1.19B | — | $26.6M |
| 2023 | 172,411 | $14.6B | $84,865 | $1.12B | $0 | $23.8M |
| 2022 | 163,629 | $12.6B | $77,052 | $1.11B | — | $22.5M |
| 2021 | 152,858 | $13.5B | $88,299 | $1000M | — | $19.8M |
| 2020 | 140,650 | $11.3B | $80,658 | $866M | — | $15.6M |
| 2019 | 124,765 | $9.65B | $77,383 | $746M | — | $16.3M |
| 2018 | 117,261 | $7.86B | $67,044 | $631M | — | $15.9M |
| 2017 | 111,583 | $7.68B | $68,814 | $559M | — | $14.3M |
| 2016 | 106,608 | $6.65B | $62,409 | $490M | — | $12.7M |
| 2015 | 102,771 | $5.87B | $57,078 | $467M | — | $13.2M |
| 2014 | 98,514 | $5.55B | $56,287 | $428M | — | $11.8M |
| 2013 | 94,379 | $4.87B | $51,614 | $376M | — | $11.4M |
| 2012 | 89,653 | $4.03B | $44,993 | $343M | $0 | $11.1M |
| 2011 | 86,408 | $3.44B | $39,811 | $286M | — | $9.6M |
| 2010 | 83,387 | $3.15B | $37,770 | $233M | — | $9.3M |
| 2009 | 82,433 | $2.70B | $32,734 | $235M | $0 | $9.0M |
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$16,786,499,095
- Employer contributions$1,350,955,036
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$1,350,955,036
- Total income, including investment results$3,118,081,208
- Benefits paid$722,324,049
- Administrative expenses$30,068,370
- Total expenses$752,392,419
- Net income$2,365,688,789
- Net transfers$0
- Net assets, end of year$19,152,187,884
Participants
- Active participants96,855
- Retired or separated, receiving benefits817
- Retired or separated, entitled to future benefits98,047
- Participants with account balances195,719
- Total participants, end of year195,719
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| National Electrical Benefit Fund | Contract Administrator | $6,646,186 | $0 |
| RBC Global Asset Management | Investment management | $3,925,306 | $0 |
| Chevy Chase Trust | Investment management | $2,105,952 | $0 |
| Pacific Investment Management Co. LL | Investment management | $1,763,066 | $0 |
| Newtower Trust Company | Investment management | $1,582,335 | $0 |
| BlackRock Financial MGT | Investment management | $1,564,572 | $0 |
| Ullico Investment Advisors | Investment management | $1,382,800 | $0 |
| Lord Abbett & Co. | Investment management | $1,346,285 | $0 |
| National Real Estate Advisors | Investment management | $1,176,287 | $0 |
| Bank of New York Mellon | Custodial (securities) | $1,123,629 | $0 |
| Pgim | Investment management | $874,357 | $0 |
| T Rowe Price | Investment management | $838,913 | $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$21,090,231
- Contract administrator fees$6,157,560
- Other administrative expenses$1,263,555
- Trustee and custodial fees$1,210,747
- Legal fees$192,192
- IQPA audit fees$79,100
- Recordkeeping fees$70,892
- Other trustee fees and expenses$3,093
- Actuarial fees$1,000
- Total administrative expenses$30,068,370
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$10.2B · 49.2%
- U.S. Government securities$2.41B · 11.7%
- Corporate debt instruments$2.08B · 10.1%
- Corporate stocks$1.75B · 8.5%
- Insurance company general account$1.56B · 7.6%
- Registered investment companies (mutual funds)$814M · 3.9%
- Receivables$723M · 3.5%
- Other investments$606M · 2.9%
- Partnership/joint venture interests$257M · 1.2%
- Cash (interest and non-interest bearing)$165M · 0.8%
- 103-12 investment entities$132M · 0.6%
- Other loans$377K · 0.0%
- Buildings and other property used in plan operation$179K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWithumsmith+brown PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
2CMoney purchase (other than target benefit) plan2FERISA section 404(c) plan2GTotal participant-directed account plan2TTotal or partial participant-directed account plan with a default investment account
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 |
|---|---|---|---|---|
| National Electrical 401(k) Plan | Trustees of the National Electrical 401(k) Plan | 30,463 | $176M | $5,762 |
| Sprinkler Industry Supplemental Pension Fund | Sprinkler Industry Supplemental Pension Fund Joint Board of Trustees | 29,607 | $2.94B | $99,312 |
| International Painters and Allied Trades Industry Annuity Plan | Intl Painters & Allied Trades Ind. Pension Fund- | 25,947 | $635M | $24,457 |
| Mid-Atlantic Regional Council of Carpenters' Annuity Fund | Board of Trustees Mid-Atlantic Regional Council of Carpenters' Annuity | 13,746 | $126M | $9,141 |
| Board of Electrical Workers Local #26 I.A. Individual Account Plan | BD of Trustees for Electrical WKRS Loc No. 26 Individual Account Fund | 13,624 | $1.30B | $95,246 |
| The Whiting-Turner Contracting Company 401(k) Plan | The Whiting-Turner Contracting Company | 6,803 | $1.19B | $174,245 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is National Electrical Annuity Plan?
195,719 participants at the end of the plan year ending 31 Dec 2025, of whom 96,855 were active employees, with net assets of $19,152,187,884. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Trustees of the National Electrical Annuity Plan contribute per participant?
The filing reports $1,350,955,036 in employer contributions for the year, which is $13,948 per active participant; the median for plans of the same type and size was $2,417 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 $27,416,590 in compensation to service provider organisations, $140 per participant or 0.14% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $30,068,370. 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 the National Electrical Annuity Plan. Recordkeeping or administration: National Electrical Benefit Fund. Investment advisory or management: RBC Global Asset Management, Chevy Chase Trust and Pacific Investment Management Co. LL. Trustee or custodian: Bank of New York Mellon. The financial statements were audited by Withumsmith+brown PC. 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 2025 to 31 Dec 2025, received by the Department of Labor on 30 Jul 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 52-6132372, plan 001, received 30 Jul 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.