Florida › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Sep 2024 to 31 Aug 2025
Plumbers & Pipefitters Lu 421 Pension Fund Trust
Sponsored by Trustees of Plumbers & Pipefitters Lu 421 Pension Fund Trust, Pembroke Pines, FL
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 & Pipefitters Lu 421 Pension Fund Trust is a defined benefit pension plan sponsored by Trustees of Plumbers & Pipefitters Lu 421 Pension Fund Trust of Pembroke Pines, Florida. For the plan year ending 31 Aug 2025 it reported 1,979 participants, 1,326 of them active, and net assets of $124M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $62,561 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 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 $7.1M for the year ($5,344 per active participant) and benefits paid were $2.5M. 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 8 service provider organisations paid $5,000 or more, with reported compensation of $519K: $262 per participant, below the same-size median of $325. Administrative expenses charged to the plan were $952K. 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 $21.3M in 2009 to $124M in 2024 (up 481%), and participants from 736 to 1,979 (up 169%).
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 | $62,561 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $5,344 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $262 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.42% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $481 | $513 | $596 | $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), 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 | 1,979 | $124M | $62,561 | $7.1M | — | $519K |
| 2023 | 1,460 | $110M | $75,065 | $5.5M | — | $298K |
| 2022 | 1,451 | $96.5M | $66,473 | $3.9M | — | $793K |
| 2021 | 1,428 | $90.0M | $63,002 | $4.0M | — | $506K |
| 2020 | 1,391 | $97.6M | $70,131 | $3.9M | — | $322K |
| 2019 | 1,429 | $77.6M | $54,297 | $4.2M | — | $584K |
| 2018 | 1,396 | $70.3M | $50,376 | $3.8M | — | $628K |
| 2017 | 1,362 | $67.9M | $49,855 | $4.8M | — | $634K |
| 2016 | 967 | $58.7M | $60,686 | $4.0M | — | $550K |
| 2015 | 845 | $50.6M | $59,922 | $2.9M | — | $411K |
| 2014 | 846 | $46.5M | $54,921 | $3.7M | — | $453K |
| 2013 | 895 | $44.3M | $49,552 | $3.2M | — | $501K |
| 2012 | 823 | $36.3M | $44,108 | $3.3M | — | $295K |
| 2011 | 779 | $30.6M | $39,304 | $2.9M | — | $281K |
| 2010 | 778 | $25.8M | $33,131 | $2.4M | — | $318K |
| 2009 | 736 | $21.3M | $28,940 | $1.8M | — | $238K |
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$109,594,831
- Employer contributions$7,086,692
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$7,086,692
- Total income, including investment results$17,660,819
- Benefits paid$2,494,250
- Administrative expenses$952,258
- Total expenses$3,446,508
- Net income$14,214,311
- Net transfers$0
- Net assets, end of year$123,809,142
Participants
- Active participants1,326
- Retired or separated, receiving benefits239
- Retired or separated, entitled to future benefits381
- Total participants, end of year1,979
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| National Employee Benefit Admin | Contract Administrator | $173,561 | $0 |
| Atlanta Capital Management Co. | Investment advisory (plan); Investment management | $92,510 | $0 |
| Horizon Actuarial Services, LLC | Actuarial | $63,791 | $0 |
| Standard Valuations Inc. | Valuation (appraisals, etc.) | $55,000 | $0 |
| Lapadula Carlson & Co. | Accounting (including auditing) | $51,113 | $0 |
| Investment Performance Services | Investment advisory (plan); Consulting (general) | $34,015 | $0 |
| Wedge Capital Management LLP | Investment advisory (plan); Investment management | $33,966 | $0 |
| Arnall Golden Gregory LLP | Insurance services | $14,814 | $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$441,030
- Contract administrator fees$112,974
- Other administrative expenses$111,682
- Other trustee fees and expenses$93,039
- Actuarial fees$60,000
- Legal fees$44,898
- IQPA audit fees$40,000
- Salaries and allowances$30,578
- Trustee and custodial fees$12,132
- Recordkeeping fees$5,925
- Total administrative expenses$952,258
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$63.0M · 50.8%
- U.S. Government securities$19.7M · 15.9%
- Corporate debt instruments$17.6M · 14.2%
- Partnership/joint venture interests$16.4M · 13.3%
- Cash (interest and non-interest bearing)$5.6M · 4.5%
- Receivables$1.5M · 1.2%
- Other investments$117K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmLapadula Carlson & Co.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| McAsf Local 725 Pension Plan | Board of Trustees McAsf Local 725 Pension Trust Fund | 2,129 | $235M | $110,475 |
| Pension Plan of the Plumbers & Pipefitters Local Union No. 630 Pension - Annuity Trust Fund | Trustees of the Pension Plan of the Plumbers & Pipefitters Local Union | 1,849 | $158M | $85,493 |
| United Asso Journeymen & Apprnc Pension Fund | United Assn of Journeymen & Apprentice Local 198 AFL-CIO Pension Fund | 3,934 | $199M | $50,515 |
| I.B.E.W. Local 1579 Pension Plan | I.B.E.W Local 1579 Pension Plan Board of Trustees | 1,591 | $237M | $148,699 |
| Atlanta Plumbers & Steamfitters Pension Fund | Atlanta Plumbers & Steamfitters Pension Fund | 5,052 | $452M | $89,422 |
| Plumbers & Pipefitters Local 123 Pension Fund | Trustees of the Plumbers and Pipefitters Local 123 Pension Fund | 1,488 | $67.3M | $45,209 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Plumbers & Pipefitters Lu 421 Pension Fund Trust?
1,979 participants at the end of the plan year ending 31 Aug 2025, of whom 1,326 were active employees, with net assets of $123,809,142. 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 Trustees of Plumbers & Pipefitters Lu 421 Pension Fund Trust contribute per participant?
The filing reports $7,086,692 in employer contributions for the year, which is $5,344 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 $518,770 in compensation to service provider organisations, $262 per participant or 0.42% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $952,258. 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 & Pipefitters Lu 421 Pension Fund Trust. Recordkeeping or administration: National Employee Benefit Admin. Investment advisory or management: Atlanta Capital Management Co., Investment Performance Services and Wedge Capital Management LLP. The financial statements were audited by Lapadula Carlson & Co.. 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 Sep 2024 to 31 Aug 2025, received by the Department of Labor on 12 Jun 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 57-0524232, plan 001, received 12 Jun 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.