Florida › Wholesale trade › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Jerry Pate Company Retirement Plan
Sponsored by Jerry Pate Company, Pensacola, 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.
Jerry Pate Company of Pensacola, Florida sponsors Jerry Pate Company Retirement Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 219 participants (178 active) and $10.4M in net assets.
Net assets came to $47,716 per participant, well below the $60,185 median for defined contribution plans with 100 to 249 participants and well below the $65,557 median for defined contribution plans in wholesale trade. 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 $155K during the year, or $873 per active participant against a same-size median of $2,447; participants contributed $782K and $74K arrived as rollovers and other contributions. Benefits paid out totalled $1.8M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $39K: $178 per participant, below the same-size median of $194. Administrative expenses charged to the plan were $3,539. 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 $2.9M in 2012 to $10.4M in 2024 (up 263%), and participants from 125 to 219 (up 75%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $47,716 | $60,185 | $65,557 | $53,102 |
| Employer contributions per active participant | $873 | $2,447 | $2,107 | $2,175 |
| Schedule C compensation per participant | $178 | $194 | $153 | $123 |
| Schedule C compensation, share of net assets | 0.37% | 0.32% | 0.27% | 0.26% |
| Administrative expenses per participant | $16.16 | $176 | $147 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 plans), wholesale trade (3,526) 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 |
|---|---|---|---|---|---|---|
| 2024 | 219 | $10.4M | $47,717 | $155K | $782K | $39K |
| 2023 | 192 | $9.9M | $51,323 | $139K | $718K | $17K |
| 2022 | 194 | $8.7M | $44,639 | $130K | $670K | $4,000 |
| 2021 | 187 | $10.1M | $53,834 | $131K | $660K | $1,000 |
| 2020 | 123 | $7.9M | $64,374 | $86K | $408K | $1,000 |
| 2019 | 125 | $7.2M | $57,456 | $75K | $359K | $1,000 |
| 2018 | 113 | $5.7M | $50,230 | $127K | $359K | $0 |
| 2017 | 138 | $5.7M | $41,638 | $71K | $338K | $0 |
| 2016 | 128 | $4.7M | $36,867 | $72K | $339K | $0 |
| 2015 | 122 | $4.2M | $34,451 | $61K | $295K | $0 |
| 2014 | 124 | $4.1M | $32,774 | $54K | $258K | $0 |
| 2013 | 124 | $3.7M | $29,984 | $58K | $270K | $0 |
| 2012 | 125 | $2.9M | $23,008 | $55K | $256K | $1,000 |
| 2010 | 101 | — | — | — | — | — |
| 2009 | 112 | — | — | — | — | — |
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$9,854,443
- Employer contributions$155,442
- Participant contributions$781,725
- Rollovers and other contributions$74,424
- Total contributions$1,011,591
- Total income, including investment results$2,381,386
- Benefits paid$1,782,564
- Administrative expenses$3,539
- Total expenses$1,786,103
- Net income$595,283
- Net transfers$0
- Net assets, end of year$10,449,726
Participants
- Active participants178
- Retired or separated, receiving benefits6
- Retired or separated, entitled to future benefits35
- Participants with account balances139
- Total participants, end of year219
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Southbridge Advisors LLC | Investment advisory (plan) | $27,739 | $0 |
| Azalea Administration | Contract Administrator | $1,050 | $4,953 |
| Saltmarsh Cleaveland & Gund, PA | Accounting (including auditing) | $2,700 | $0 |
| Empower Advisory Group,llc | Investment management | $1,489 | $0 |
| Empower Annuity Insurance Company | Recordkeeping fees | $1,000 | $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
- Recordkeeping fees$3,539
- Total administrative expenses$3,539
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.
- Pooled separate accounts$9.8M · 94.2%
- Insurance company general account$482K · 4.6%
- Common/collective trusts$126K · 1.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- 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
2EProfit-sharing plan2JCode section 401(k) feature2KCode section 401(m) arrangement2GTotal participant-directed account plan2RParticipant-directed brokerage accounts provided as an investment option under the plan3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 423800: Machinery, Equipment, & Supplies.
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Florida State University Foundation, Inc. 403(b) Defined Contribution Plan | Florida State University Foundation, Inc. | 227 | $18.3M | $80,586 |
| Jci 401(k) Plan | Jci Jones Chemicals, Inc. | 211 | $16.1M | $76,478 |
| L'Oreal Travel Retail Americas Inc. Retirement Plan | L'Oreal Travel Retail Americas, Inc. | 228 | $30.9M | $135,708 |
| Tampa Truck Center, 401(k) Plan | Tampa Truck Center, LLC | 206 | $8.1M | $39,520 |
| Century Arms, Inc. 401(k) Savings Plan | Century Arms, Inc. | 229 | $10.2M | $44,660 |
| Fridababy 401(k) Plan | Fridababy, LLC | 201 | $8.0M | $39,954 |
Defined contribution plans in wholesale trade closest in size.
Questions and answers
How big is Jerry Pate Company Retirement Plan?
219 participants at the end of the plan year ending 31 Dec 2024, of whom 178 were active employees, with net assets of $10,449,726. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Jerry Pate Company contribute per participant?
The filing reports $155,442 in employer contributions for the year, which is $873 per active participant; the median for plans of the same type and size was $2,447 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 $38,931 in compensation to service provider organisations, $178 per participant or 0.37% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $3,539. 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 Jerry Pate Company. Recordkeeping or administration: Azalea Administration and Empower Annuity Insurance Company. Investment advisory or management: Southbridge Advisors LLC and Empower Advisory Group,llc. 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 6 Oct 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 59-3472632, plan 001, received 6 Oct 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.