New Jersey › Manufacturing › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Southern Council of Industrial Workers Pension Plan
Sponsored by BRD of Trust of the Southern Coun- Cil of Industrial Workers Pen Fund, West Trenton, NJ
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.
Southern Council of Industrial Workers Pension Plan is a defined benefit pension plan sponsored by BRD of Trust of the Southern Coun- Cil of Industrial Workers Pen Fund of West Trenton, New Jersey. For the plan year ending 31 Dec 2024 it reported 600 participants, 0 of them active, and net assets of −$4.0M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $56K: $92.90 per participant, well below the same-size median of $377. Administrative expenses charged to the plan were $80K. 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 $1.3M in 2009 to −$4.0M in 2024 (down 414%), and participants from 872 to 600 (down 31%).
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 | — | $86,583 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $6,915 | $10,244 |
| Schedule C compensation per participant | $92.90 | $377 | $299 | $344 |
| Schedule C compensation, share of net assets | — | 0.48% | 0.47% | 0.42% |
| Administrative expenses per participant | $133 | $591 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), manufacturing (1,532) 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 | 600 | −$4.0M | −$6,682 | — | — | $56K |
| 2023 | 678 | −$3.7M | −$5,500 | — | — | $54K |
| 2022 | 710 | −$3.4M | −$4,849 | — | — | $53K |
| 2021 | 719 | −$3.1M | −$4,369 | — | — | $51K |
| 2020 | 720 | −$2.8M | −$3,924 | — | — | $50K |
| 2019 | 746 | −$2.5M | −$3,350 | — | — | $52K |
| 2018 | 761 | −$2.2M | −$2,863 | — | — | $50K |
| 2017 | 805 | −$1.9M | −$2,307 | — | — | $49K |
| 2016 | 812 | −$1.5M | −$1,889 | — | — | $49K |
| 2015 | 818 | −$1.2M | −$1,480 | — | — | $74K |
| 2014 | 808 | −$862K | −$1,067 | — | — | $77K |
| 2013 | 816 | −$495K | −$607 | — | — | $103K |
| 2012 | 754 | −$94K | −$125 | — | — | $141K |
| 2011 | 854 | $369K | $432 | — | — | $129K |
| 2010 | 865 | $878K | $1,015 | — | — | $91K |
| 2009 | 872 | $1.3M | $1,466 | — | — | $121K |
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−$3,728,919
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions$15,807
- Total contributions$15,807
- Total income, including investment results$15,807
- Benefits paid$216,231
- Administrative expenses$79,609
- Total expenses$295,840
- Net income−$280,033
- Net transfers$0
- Net assets, end of year−$4,008,952
Participants
- Active participants0
- Retired or separated, receiving benefits192
- Retired or separated, entitled to future benefits355
- Total participants, end of year600
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Ie Shaffer & Co. | Contract Administrator | $41,340 | $0 |
| L.M. Henderson & Company, LLP | Accounting (including auditing) | $14,400 | $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
- Contract administrator fees$41,340
- Other administrative expenses$16,073
- IQPA audit fees$14,400
- Actuarial fees$5,000
- Legal fees$2,796
- Total administrative expenses$79,609
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.
- Cash (interest and non-interest bearing)$159K · 98.1%
- Receivables$3,014 · 1.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmL.M. Henderson & Company, LLP
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 321900: Other Wood Product Mfg.
Similar plans in New Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Momentum Technologies, Inc. Pension Plan | Momentumone, LLC | 682 | $5.1M | $7,455 |
| B&G Foods Ankeny, Ia Pension Plan | B&G Foods North America, Inc. | 570 | $69.6M | $122,192 |
| Symrise Inc. Retirement Plan | Symrise Inc. | 769 | $49.4M | $64,182 |
| Retirement Plan for Salaried Employees of Mersen USA | Mersen USA Holding Corp. | 544 | $49.9M | $91,819 |
| Retirement Plan for Hourly Employees of Mersen USA | Mersen USA Holding Corp. | 801 | $23.8M | $29,747 |
| Retirement Plan for Employees of Durand Glass Mfg. Company, Inc. | Durand Glass Manufacturing Company, LLC | 504 | $24.5M | $48,616 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Southern Council of Industrial Workers Pension Plan?
600 participants at the end of the plan year ending 31 Dec 2024, of whom 0 were active employees, with net assets of −$4,008,952. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does BRD of Trust of the Southern Coun- Cil of Industrial Workers Pen Fund 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 $55,740 in compensation to service provider organisations, $92.90 per participant. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $79,609. 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 BRD of Trust of the Southern Coun- Cil of Industrial Workers Pen Fund. Recordkeeping or administration: Ie Shaffer & Co.. The financial statements were audited by L.M. Henderson & 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 3 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 62-0977497, plan 001, received 3 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.