New York › Arts, entertainment and recreation › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Pension Plan for Union Employees of the New York Racing Association, Inc.
Sponsored by The New York Racing Association Inc., Jamaica, NY
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.
Pension Plan for Union Employees of the New York Racing Association, Inc. is a defined benefit pension plan sponsored by The New York Racing Association Inc. of Jamaica, New York. For the plan year ending 31 Dec 2024 it reported 716 participants, 107 of them active, and net assets of $120M.
Net assets came to $167,995 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $98,070 median for defined benefit plans in arts, entertainment and recreation. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 7 service provider organisations paid $5,000 or more, with reported compensation of $915K: $1,278 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $995K. 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 $21.8M in 2009 to $120M in 2024 (up 452%), and participants from 366 to 716 (up 96%).
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 | $167,995 | $86,583 | $98,070 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $8,284 | $10,244 |
| Schedule C compensation per participant | $1,278 | $377 | $440 | $344 |
| Schedule C compensation, share of net assets | 0.76% | 0.48% | 0.49% | 0.42% |
| Administrative expenses per participant | $1,390 | $591 | $715 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), arts, entertainment and recreation (119) 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 | 716 | $120M | $167,994 | — | $24K | $915K |
| 2023 | 748 | $120M | $159,820 | — | $6,000 | $333K |
| 2022 | 276 | $39.1M | $141,717 | $0 | $6,000 | $360K |
| 2021 | 287 | $48.6M | $169,328 | $0 | $8,000 | $334K |
| 2020 | 295 | $44.3M | $150,139 | $8.2M | $8,000 | $279K |
| 2019 | 298 | $34.3M | $115,205 | $704K | $8,000 | $294K |
| 2018 | 303 | $29.3M | $96,776 | — | $10K | $300K |
| 2017 | 313 | $33.6M | $107,208 | $1.1M | $14K | $290K |
| 2016 | 317 | $30.1M | $95,032 | $685K | $16K | $268K |
| 2015 | 325 | $30.5M | $93,714 | $658K | $17K | $282K |
| 2014 | 334 | $32.1M | $96,237 | $1.1M | $18K | $313K |
| 2013 | 336 | $31.5M | $93,607 | $1.5M | $20K | $202K |
| 2012 | 346 | $26.3M | $76,075 | $1.8M | $30K | $217K |
| 2011 | 350 | $23.8M | $67,929 | $2.1M | $35K | $238K |
| 2010 | 354 | $24.3M | $68,650 | $1.6M | $40K | $204K |
| 2009 | 366 | $21.8M | $59,525 | $1.0M | $45K | $184K |
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$119,544,890
- Employer contributions—
- Participant contributions$23,720
- Rollovers and other contributions—
- Total contributions$23,720
- Total income, including investment results$9,460,327
- Benefits paid$7,726,082
- Administrative expenses$994,910
- Total expenses$8,720,992
- Net income$739,335
- Net transfers$0
- Net assets, end of year$120,284,225
Participants
- Active participants107
- Retired or separated, receiving benefits351
- Retired or separated, entitled to future benefits67
- Total participants, end of year716
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| JPMorgan Chase Bank | Trustee (bank, trust company, or similar financial institution); Investment management | $348,714 | $0 |
| Milliman, Inc. | Actuarial | $223,880 | $0 |
| TS&W | Investment management | $133,600 | $0 |
| Mercer Investment Consulting, Inc. | Investment advisory (plan) | $82,552 | $0 |
| KPMG LLP | Accounting (including auditing) | $76,660 | $0 |
| Eaton Vance | Investment management | $40,603 | $0 |
| Vanguard | Investment management | $8,680 | $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$468,317
- Actuarial fees$223,880
- Contract administrator fees$82,552
- IQPA audit fees$76,660
- Other administrative expenses$75,548
- Trustee and custodial fees$67,953
- Total administrative expenses$994,910
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.
- Registered investment companies (mutual funds)$82.0M · 68.2%
- Common/collective trusts$35.8M · 29.7%
- U.S. Government securities$2.1M · 1.8%
- Insurance company general account$382K · 0.3%
- Receivables$8,281 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCitrin Cooperman & Company LLP
- Participant contributions reported as transmitted lateYes, $10
- Covered by a fidelity bondYes, $10,000,000
- 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
1ABenefits are primarily pay related1BBenefits 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 713200: Gambling Industries.
Other plans of The New York Racing Association Inc.
| Plan | Participants | Net assets |
|---|---|---|
| The 401(k) Plan of the New York Racing Association, Inc. | 1,862 | $127M |
| Retirement Plan for Administrative and Racing Employees of the New York Racing Association, Inc. | 397 | $60.0M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Lincoln Center Pension Plan | Lincoln Center for the Performing Arts, Inc. | 1,083 | $101M | $92,912 |
| Treasurers and Ticket Sellers Local 751 Pension Fund | Treasurers & Ticket Sellers Local 751 Pension Fund BD of Trustees | 687 | $116M | $169,033 |
| Major League Baseball Pension Plan for Non-Uniformed Personnel | New York Yankees Partnership | 1,105 | $119M | $108,027 |
| The Museum of Modern Art Pension Plan | The Museum of Modern Art | 652 | $121M | $185,620 |
| MSG Entertainment Holdings, LLC Cash Balance Pension Plan | MSG Entertainment Holdings, LLC | 1,663 | $111M | $66,979 |
| Major League Baseball Pension Plan for Non-Uniformed Personnel | QB JV Holdings, LLC | 607 | $73.0M | $120,262 |
Defined benefit plans in arts, entertainment and recreation closest in size.
Questions and answers
How big is Pension Plan for Union Employees of the New York Racing Association, Inc.?
716 participants at the end of the plan year ending 31 Dec 2024, of whom 107 were active employees, with net assets of $120,284,225. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does The New York Racing Association 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 $914,689 in compensation to service provider organisations, $1,278 per participant or 0.76% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $994,910. 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 The New York Racing Association Inc.. Investment advisory or management: JPMorgan Chase Bank, TS&W and Mercer Investment Consulting, Inc.. Trustee or custodian: JPMorgan Chase Bank. The financial statements were audited by Citrin Cooperman & Company 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 24 Nov 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 61-1559040, plan 002, received 24 Nov 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.