North Carolina › Construction › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2021 to 31 Dec 2021
Horne Brothers Construction, Inc. Cash Balance Pension Plan
Sponsored by Horne Bros. Construction, Inc., Fayetteville, NC
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.
Horne Bros. Construction, Inc. of Fayetteville, North Carolina sponsors Horne Brothers Construction, Inc. Cash Balance Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2021 shows 352 participants (269 active) and $1.9M in net assets.
Net assets came to $5,354 per participant, well below the $87,254 median for defined benefit plans with 250 to 499 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.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $0.
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 | $5,354 | $87,254 | $100,593 | $86,221 |
| Employer contributions per active participant | — | $11,032 | $13,292 | $10,244 |
| Schedule C compensation per participant | — | $413 | $443 | $344 |
| Schedule C compensation, share of net assets | — | 0.51% | 0.46% | 0.42% |
| Administrative expenses per participant | — | $596 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), construction (655) and all US plans (5,308). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$6,530,200
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results−$33,041
- Benefits paid$4,612,417
- Administrative expenses$0
- Total expenses$4,612,417
- Net income−$4,645,458
- Net transfers$0
- Net assets, end of year$1,884,742
Participants
- Active participants269
- Retired or separated, receiving benefits83
- Retired or separated, entitled to future benefits0
- Participants with account balances55
- Total participants, end of year352
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
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.
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.
- Cash (interest and non-interest bearing)$1.9M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmSmith Leonard PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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
1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in North Carolina
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Lane Construction Corporation Defined Benefit Pension Plan | The Lane Construction Corporation | 2,124 | $139M | $65,573 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Horne Brothers Construction, Inc. Cash Balance Pension Plan?
352 participants at the end of the plan year ending 31 Dec 2021, of whom 269 were active employees, with net assets of $1,884,742. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Horne Bros. Construction, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $0. 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 Horne Bros. Construction, Inc.. The financial statements were audited by Smith Leonard PLLC. 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 2021 to 31 Dec 2021, received by the Department of Labor on 7 Apr 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 56-1902314, plan 002, received 7 Apr 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.