Florida › Wholesale trade › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Oct 2025
Pension Fund of Local 227
Sponsored by Board of Trustees of Pension Fund of Local 227, 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.
Pension Fund of Local 227 is a defined benefit pension plan sponsored by Board of Trustees of Pension Fund of Local 227 of Pembroke Pines, Florida. For the plan year ending 31 Oct 2025 it reported 8,832 participants, 4,819 of them active, and net assets of $97.2M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $11,003 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below the $61,809 median for defined benefit 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.
Employer contributions were $2.5M for the year ($520 per active participant) and benefits paid were $10.0M. 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 10 service provider organisations paid $5,000 or more, with reported compensation of $1.1M: $120 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $1.7M. 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 $68.7M in 2009 to $97.2M in 2024 (up 42%), and participants from 5,698 to 8,832 (up 55%).
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 | $11,003 | $87,623 | $61,809 | $86,221 |
| Employer contributions per active participant | $520 | $9,468 | $8,409 | $10,244 |
| Schedule C compensation per participant | $120 | $232 | $346 | $344 |
| Schedule C compensation, share of net assets | 1.1% | 0.30% | 0.54% | 0.42% |
| Administrative expenses per participant | $196 | $396 | $540 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), wholesale trade (157) 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 | 8,832 | $97.2M | $11,003 | $2.5M | — | $1.1M |
| 2023 | 10,351 | $95.4M | $9,216 | $2.2M | — | $988K |
| 2022 | 10,066 | $85.3M | $8,479 | $2.2M | — | $967K |
| 2021 | 9,746 | $86.6M | $8,889 | $2.4M | — | $1.1M |
| 2020 | 9,761 | $97.5M | $9,989 | $2.4M | — | $1.1M |
| 2019 | 10,062 | $83.5M | $8,297 | $2.5M | — | $945K |
| 2018 | 9,822 | $84.8M | $8,629 | $2.6M | — | $578K |
| 2017 | 8,946 | $80.2M | $8,962 | $2.3M | — | $647K |
| 2016 | 8,914 | $83.1M | $9,318 | $2.3M | — | $555K |
| 2015 | 9,242 | $75.6M | $8,182 | $2.3M | — | $528K |
| 2014 | 8,651 | $76.1M | $8,794 | $2.3M | — | $579K |
| 2013 | 8,295 | $77.2M | $9,304 | $2.0M | — | $589K |
| 2012 | 7,994 | $76.0M | $9,510 | $2.7M | — | $623K |
| 2011 | 7,748 | $69.2M | $8,928 | $2.2M | — | $676K |
| 2010 | 5,837 | $67.2M | $11,507 | $897K | — | $529K |
| 2009 | 5,698 | $68.7M | $12,051 | $866K | — | $600K |
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$95,397,797
- Employer contributions$2,504,746
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,504,746
- Total income, including investment results$13,541,129
- Benefits paid$10,025,832
- Administrative expenses$1,732,715
- Total expenses$11,758,547
- Net income$1,782,582
- Net transfers$0
- Net assets, end of year$97,180,379
Participants
- Active participants4,819
- Retired or separated, receiving benefits1,531
- Retired or separated, entitled to future benefits2,280
- Total participants, end of year8,832
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| National Employee Benefits Admin | Contract Administrator; Other services | $467,764 | $0 |
| Segal | Actuarial | $106,046 | $0 |
| Acrisure | Actuarial | $89,500 | $0 |
| Legacy Professionals LLP | Accounting (including auditing); Recordkeeping and information management | $69,246 | $0 |
| Reinhart Attorneys at Law | Legal | $68,537 | $0 |
| National Investment Services, Inc. | Investment management | $64,216 | $0 |
| Marquette Associates | Investment advisory (plan) | $64,167 | $0 |
| PNC Bank | Claims processing; Custodial (securities) | $58,374 | $0 |
| Earnest Partners, LLC | Investment management | $45,522 | $0 |
| Gamco | Investment management | $23,956 | $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
- Other administrative expenses$447,227
- Contract administrator fees$434,158
- Investment advisory and management fees$413,607
- Actuarial fees$195,546
- Other trustee fees and expenses$82,638
- Legal fees$68,537
- Recordkeeping fees$38,576
- IQPA audit fees$30,670
- Trustee and custodial fees$21,756
- Total administrative expenses$1,732,715
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)$34.1M · 35.0%
- Partnership/joint venture interests$17.6M · 18.1%
- Corporate stocks$13.5M · 13.9%
- Corporate debt instruments$8.3M · 8.5%
- U.S. Government securities$7.2M · 7.4%
- Other investments$6.3M · 6.5%
- Common/collective trusts$4.9M · 5.0%
- Real estate$3.3M · 3.4%
- Cash (interest and non-interest bearing)$1.8M · 1.8%
- Receivables$547K · 0.6%
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, $1,000,000
- 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 424500: Farm Product Raw Materials.
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| JM Family Associates' Retirement Plan | JM Family Automotive LLC | 7,558 | $825M | $109,190 |
| Retirement Plan for Salaried Tropical Employees of Chiquita Brands, L.L.C. | Chiquita Brands, L.L.C. a Sub of Chiquita Brands Intl, Inc. | 1,985 | $13.8M | $6,958 |
| Kelley-Clarke, LLC Employees Defined Benefit Pension Plan and Trust | Acosta Sales and Marketing Company | 603 | $18.4M | $30,506 |
| The Swatch Group (U.S.) Inc. Employees' Retirement Plan | The Swatch Group (U.S.) Inc. | 469 | $21.6M | $46,130 |
| Welbilt Pension Plan | Welbilt, Inc. | 464 | $31.2M | $67,319 |
| Del Monte Fresh Produce (Hawaii) Inc. Pineapple Pension Plan | Del Monte Fresh Produce Hawaii Inc. | 430 | $11.3M | $26,376 |
Defined benefit plans in wholesale trade closest in size.
Questions and answers
How big is Pension Fund of Local 227?
8,832 participants at the end of the plan year ending 31 Oct 2025, of whom 4,819 were active employees, with net assets of $97,180,379. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Board of Trustees of Pension Fund of Local 227 contribute per participant?
The filing reports $2,504,746 in employer contributions for the year, which is $520 per active participant; the median for plans of the same type and size was $9,468 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 $1,057,328 in compensation to service provider organisations, $120 per participant or 1.1% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $1,732,715. 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 of Pension Fund of Local 227. Recordkeeping or administration: National Employee Benefits Admin and Legacy Professionals LLP. Investment advisory or management: National Investment Services, Inc., Marquette Associates and Earnest Partners, LLC. Trustee or custodian: PNC Bank. 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 Nov 2024 to 31 Oct 2025, received by the Department of Labor on 11 Aug 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 61-6054018, plan 001, received 11 Aug 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.