Florida › Construction › 500 to 999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Journeymen & Apprentices of Local 188 Pension Fund
Sponsored by Trustees of Journeymen & Apprentices of Local 188 Pension Fund, Fleming Island, 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.
In the plan year ending 30 Jun 2025, Journeymen & Apprentices of Local 188 Pension Fund covered 779 participants and held $94.4M in net assets. The plan is a defined benefit pension plan sponsored by Trustees of Journeymen & Apprentices of Local 188 Pension Fund of Fleming Island, Florida. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $121,235 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and above 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 $3.7M for the year ($10,747 per active participant) and benefits paid were $5.1M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $452K: $581 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $541K. 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 $32.7M in 2009 to $94.4M in 2024 (up 189%), and participants from 813 to 779 (down 4%).
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 | $121,235 | $86,583 | $100,593 | $86,221 |
| Employer contributions per active participant | $10,747 | $10,758 | $13,292 | $10,244 |
| Schedule C compensation per participant | $581 | $377 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.48% | 0.48% | 0.46% | 0.42% |
| Administrative expenses per participant | $695 | $591 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 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 | 779 | $94.4M | $121,235 | $3.7M | — | $452K |
| 2023 | 713 | $86.9M | $121,927 | $3.3M | — | $377K |
| 2022 | 694 | $81.2M | $116,997 | $3.1M | — | $363K |
| 2021 | 708 | $75.7M | $106,987 | $3.6M | — | $2.6M |
| 2020 | 709 | $86.3M | $121,715 | $2.9M | — | $344K |
| 2019 | 732 | $70.3M | $96,105 | $4.1M | — | $397K |
| 2018 | 689 | $70.4M | $102,164 | $3.7M | — | $393K |
| 2017 | 372 | $67.5M | $181,344 | $3.5M | — | $293K |
| 2016 | 639 | $61.7M | $96,581 | $3.7M | — | $274K |
| 2015 | 633 | $54.8M | $86,637 | $3.4M | — | $285K |
| 2014 | 670 | $53.8M | $80,300 | $3.5M | — | $334K |
| 2013 | 718 | $50.7M | $70,643 | $3.1M | — | $336K |
| 2012 | 825 | $43.3M | $52,498 | $3.2M | — | $281K |
| 2011 | 643 | $37.9M | $58,877 | $2.8M | — | $257K |
| 2010 | 677 | $37.3M | $55,112 | $2.4M | — | $219K |
| 2009 | 813 | $32.7M | $40,167 | $2.1M | — | $195K |
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$86,934,225
- Employer contributions$3,729,257
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$3,729,257
- Total income, including investment results$13,142,648
- Benefits paid$5,093,427
- Administrative expenses$541,282
- Total expenses$5,634,709
- Net income$7,507,939
- Net transfers$0
- Net assets, end of year$94,442,164
Participants
- Active participants347
- Retired or separated, receiving benefits206
- Retired or separated, entitled to future benefits170
- Total participants, end of year779
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Horizon Actuarial Services LLC | Actuarial | $75,029 | $0 |
| Investment Performance Services LLC | Investment advisory (plan); Other services | $69,265 | $0 |
| Plumbers & Pipefitters U.A. L. 188 | Other services | $54,335 | $0 |
| My Benefits Administrator, LLC | Contract Administrator; Copying and duplicating; Participant communication; Other services | $45,376 | $0 |
| Nat'l Employee Benefits Administrat | Contract Administrator; Copying and duplicating; Participant communication; Other services | $39,497 | $0 |
| JPMorgan Chase Bank, NA | Trustee (discretionary); Investment advisory (plan); Investment management | $31,569 | $0 |
| Wellington Trust Company, NA | Investment management | $28,808 | $0 |
| Great Lakes Advisors, LLC | Investment management | $26,606 | $0 |
| Robein Urann Spencer Picard & Cange | Legal | $26,528 | $0 |
| Chartwell Investment Partners | Investment management | $25,976 | $0 |
| Legacy Professionals LLP | Accounting (including auditing); Recordkeeping and information management | $22,691 | $0 |
| Top Drawer Media | Other services | $6,700 | $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$184,838
- Other administrative expenses$149,590
- Actuarial fees$75,029
- Contract administrator fees$50,144
- Other trustee fees and expenses$27,680
- Legal fees$26,528
- IQPA audit fees$20,800
- Trustee and custodial fees$4,782
- Recordkeeping fees$1,891
- Total administrative expenses$541,282
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$41.2M · 43.5%
- Partnership/joint venture interests$22.4M · 23.7%
- Registered investment companies (mutual funds)$9.2M · 9.7%
- Pooled separate accounts$7.3M · 7.7%
- U.S. Government securities$5.1M · 5.4%
- Corporate stocks$3.6M · 3.8%
- Corporate debt instruments$3.5M · 3.7%
- Cash (interest and non-interest bearing)$1.4M · 1.5%
- Receivables$973K · 1.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmLegacy Professionals LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,500,000
- 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
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 |
|---|---|---|---|---|
| Plumbers & Pipefitters Local Union 719 Pension Fund | Trustees of the Plumbers & Pipefitters Local Union 719 Pension Fund | 888 | $70.7M | $79,614 |
| Plumbers & Fitters Local Union 295 Pension Plan | Trustees Plumbers & Fitters Local Union 295 Pension Fund | 629 | $71.4M | $113,446 |
| Plumbers and Pipefitters Local Union No. 803 Pension Fund | Board of Trustees of Plumbers Local Union No. 803 Pension Fund | 983 | $51.4M | $52,324 |
| Plumbers Local Union No. 519 Pension Fund | Trustees of Plumbers Local Union No. 519 Pension Fund | 1,069 | $45.1M | $42,200 |
| Miami Ironworkers Local 272 Pension Trust Fund | Trustees of Miami Ironworkers Local 272 Pension Trust Fund | 1,378 | $92.4M | $67,059 |
| I.B.E.W. Local No. 728 Pension Fund | Trustees of I.B.E.W. Local No. 728 Pension Fund | 1,466 | $78.3M | $53,444 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Journeymen & Apprentices of Local 188 Pension Fund?
779 participants at the end of the plan year ending 30 Jun 2025, of whom 347 were active employees, with net assets of $94,442,164. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Trustees of Journeymen & Apprentices of Local 188 Pension Fund contribute per participant?
The filing reports $3,729,257 in employer contributions for the year, which is $10,747 per active participant; the median for plans of the same type and size was $10,758 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 $452,380 in compensation to service provider organisations, $581 per participant or 0.48% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $541,282. 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 Journeymen & Apprentices of Local 188 Pension Fund. Recordkeeping or administration: My Benefits Administrator, LLC, Nat'l Employee Benefits Administrat and Legacy Professionals LLP. Investment advisory or management: Investment Performance Services LLC, JPMorgan Chase Bank, NA and Wellington Trust Company, NA. Trustee or custodian: JPMorgan Chase Bank, NA. The financial statements were audited by Legacy Professionals LLP. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 15 Apr 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 58-6088292, plan 001, received 15 Apr 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.