Tennessee › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Atlanta Ironworkers Local #387 Pension Plan
Sponsored by Board of Trustees Atlanta Ironworkers Local 387 Pension PL, Goodlettsville, TN
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.
Atlanta Ironworkers Local #387 Pension Plan is a defined benefit pension plan sponsored by Board of Trustees Atlanta Ironworkers Local 387 Pension PL of Goodlettsville, Tennessee. For the plan year ending 31 Dec 2024 it reported 1,520 participants, 673 of them active, and net assets of $132M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $87,044 per participant, close to the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $119,983 median for defined benefit plans in finance and insurance. 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 $5.6M for the year ($8,252 per active participant) and benefits paid were $10.8M. 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 11 service provider organisations paid $5,000 or more, with reported compensation of $539K: $355 per participant, above the same-size median of $325. Administrative expenses charged to the plan were $737K. 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 $77.1M in 2009 to $132M in 2024 (up 72%), and participants from 1,760 to 1,520 (down 14%).
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 | $87,044 | $87,935 | $119,983 | $86,221 |
| Employer contributions per active participant | $8,252 | $10,593 | $7,849 | $10,244 |
| Schedule C compensation per participant | $355 | $325 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.41% | 0.41% | 0.32% | 0.42% |
| Administrative expenses per participant | $485 | $513 | $433 | $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), finance and insurance (690) 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 | 1,520 | $132M | $87,044 | $5.6M | — | $539K |
| 2023 | 1,576 | $126M | $80,023 | $5.6M | — | $547K |
| 2022 | 1,427 | $122M | $85,220 | $5.0M | — | $520K |
| 2021 | 1,578 | $141M | $89,454 | $4.7M | — | $503K |
| 2020 | 1,583 | $128M | $80,866 | $5.6M | — | $561K |
| 2019 | 1,850 | $110M | $59,395 | $4.9M | — | $528K |
| 2018 | 1,497 | $110M | $73,693 | $5.9M | — | $530K |
| 2017 | 1,505 | $111M | $73,748 | $5.1M | — | $563K |
| 2016 | 1,666 | $102M | $61,353 | $3.7M | — | $513K |
| 2015 | 1,464 | $90.9M | $62,070 | $2.8M | — | $435K |
| 2014 | 1,478 | $101M | $68,095 | $2.7M | — | $439K |
| 2013 | 1,429 | $98.6M | $68,966 | $2.2M | — | $364K |
| 2012 | 1,450 | $88.0M | $60,708 | $2.8M | — | $421K |
| 2011 | 1,698 | $84.8M | $49,971 | $3.7M | — | $441K |
| 2010 | 1,650 | $88.2M | $53,466 | $3.4M | — | $462K |
| 2009 | 1,760 | $77.1M | $43,801 | $5.0M | — | $435K |
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$126,116,710
- Employer contributions$5,553,475
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$5,553,475
- Total income, including investment results$17,760,820
- Benefits paid$10,833,423
- Administrative expenses$737,327
- Total expenses$11,570,750
- Net income$6,190,070
- Net transfers$0
- Net assets, end of year$132,306,780
Participants
- Active participants673
- Retired or separated, receiving benefits542
- Retired or separated, entitled to future benefits189
- Total participants, end of year1,520
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wedge Capital Management LLC | Trustee (bank, trust company, or similar financial institution) | $90,259 | $0 |
| Great Lakes Advisors | Investment management | $69,785 | $0 |
| Southern Benefit Administrators Inc. | Contract Administrator | $67,363 | $0 |
| Bha Consulting | Actuarial | $67,223 | $0 |
| Amalgamated Bank | Investment advisory (plan) | $64,110 | $0 |
| Intercontinental Real Estate Corpor | Investment management | $56,547 | $0 |
| Fred Alger Management | Investment management | $50,331 | $0 |
| Investment Performance Service | Investment advisory (plan) | $50,000 | $0 |
| Quinn Connor Weaver Davies Rouco L | Legal | $10,016 | $0 |
| US Bank | Custodial (securities) | $8,507 | $0 |
| Northern Trust Investments | Investment management | $5,058 | $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$461,449
- Other administrative expenses$96,914
- Contract administrator fees$67,363
- Actuarial fees$67,223
- IQPA audit fees$25,855
- Legal fees$10,016
- Trustee and custodial fees$8,507
- Total administrative expenses$737,327
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.
- Corporate stocks$39.2M · 28.9%
- Registered investment companies (mutual funds)$34.7M · 25.6%
- Common/collective trusts$21.6M · 15.9%
- Real estate$20.9M · 15.4%
- Other investments$16.9M · 12.4%
- Cash (interest and non-interest bearing)$1.2M · 0.9%
- Receivables$957K · 0.7%
- Corporate debt instruments$56K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
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 525100: Insurance & Employee Benefit Funds.
Similar plans in Tennessee
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Sedgwick Retirement Plan | Sedgwick Claims Management Services, Inc. | 1,965 | $70.6M | $35,908 |
| Retirement Plan of Tennessee Farmers Mutual Insura | Tennessee Farmers Mutual Insurance Company | 1,377 | $944M | $685,806 |
| Willis North America Inc. Pension Plan | Willis North America Inc. | 4,362 | $607M | $139,258 |
| Iron Workers Local #397 Pension Fund | Iron Workers Local #397 Pension Fund | 1,325 | $97.1M | $73,279 |
| First Horizon Corporation Pension Plan | First Horizon Corporation | 4,536 | $601M | $132,494 |
| Ironworkers Local 808 Pension Fund | Trustees of Ironworkers Local 808 Pension Fund | 1,297 | $90.8M | $69,983 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Atlanta Ironworkers Local #387 Pension Plan?
1,520 participants at the end of the plan year ending 31 Dec 2024, of whom 673 were active employees, with net assets of $132,306,780. 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 Atlanta Ironworkers Local 387 Pension PL contribute per participant?
The filing reports $5,553,475 in employer contributions for the year, which is $8,252 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 $539,199 in compensation to service provider organisations, $355 per participant or 0.41% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $737,327. 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 Atlanta Ironworkers Local 387 Pension PL. Recordkeeping or administration: Southern Benefit Administrators Inc.. Investment advisory or management: Great Lakes Advisors, Amalgamated Bank and Intercontinental Real Estate Corpor. Trustee or custodian: Wedge Capital Management LLC and US Bank. 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 15 Jan 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 58-6051152, plan 001, received 15 Jan 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.