California › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
U.A. Local No. 447 Defined Contribution Plan and Trust
Sponsored by Board of Trustees, U.A. Local No. 447 Defined, Sacramento, CA
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, U.A. Local No. 447 Defined Contribution Plan and Trust covered 1,654 participants and held $123M in net assets. The plan is a 401(k) plan sponsored by Board of Trustees, U.A. Local No. 447 Defined of Sacramento, California. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $74,396 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $54,962 median for defined contribution 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.
The employer contributed $4.8M during the year, or $4,948 per active participant against a same-size median of $2,045; participants contributed $5.6M. Benefits paid out totalled $8.8M.
Schedule C lists 11 service provider organisations paid $5,000 or more, with reported compensation of $386K: $234 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $637K. 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 $64.8M in 2009 to $123M in 2024 (up 90%), and participants from 1,286 to 1,654 (up 29%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $74,396 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $4,948 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $234 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.31% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $385 | $82.20 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), construction (4,204) 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 | 1,654 | $123M | $74,396 | $4.8M | $5.6M | $386K |
| 2023 | 1,565 | $111M | $70,624 | $4.1M | $4.9M | $363K |
| 2022 | 1,467 | $95.2M | $64,870 | $3.7M | $4.1M | $296K |
| 2021 | 1,441 | $88.3M | $61,246 | $3.1M | $4.1M | $289K |
| 2020 | 1,418 | $109M | $77,151 | $2.8M | $3.9M | $295K |
| 2019 | 1,401 | $90.2M | $64,391 | $3.0M | $3.5M | $251K |
| 2018 | 1,333 | $87.3M | $65,526 | $2.4M | $2.5M | $285K |
| 2017 | 1,239 | $82.8M | $66,857 | $2.3M | $1.9M | $304K |
| 2016 | 1,184 | $80.1M | $67,638 | $1.6M | $1.4M | $242K |
| 2015 | 1,174 | $74.6M | $63,567 | $1.5M | $1.3M | $220K |
| 2014 | 1,211 | $80.2M | $66,192 | $1.2M | $941K | $247K |
| 2013 | 1,216 | $81.8M | $67,275 | $2.0M | — | $248K |
| 2012 | 1,200 | $73.7M | $61,393 | $2.2M | — | $223K |
| 2011 | 1,191 | $68.8M | $57,741 | $2.1M | — | $238K |
| 2010 | 1,208 | $73.7M | $61,010 | $2.1M | — | $424K |
| 2009 | 1,286 | $64.8M | $50,390 | $2.8M | — | $472K |
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$110,525,739
- Employer contributions$4,780,075
- Participant contributions$5,558,033
- Rollovers and other contributions—
- Total contributions$10,338,108
- Total income, including investment results$21,958,006
- Benefits paid$8,795,538
- Administrative expenses$637,060
- Total expenses$9,432,598
- Net income$12,525,408
- Net transfers$0
- Net assets, end of year$123,051,147
Participants
- Active participants966
- Retired or separated, receiving benefits7
- Retired or separated, entitled to future benefits643
- Participants with account balances0
- Total participants, end of year1,654
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower | Recordkeeping fees; Direct payment from the plan | $77,999 | $0 |
| Bridgeway Benefit Technologies | Other fees; Direct payment from the plan | $52,867 | $203 |
| Islip & Co. | Accounting (including auditing) | $50,523 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $47,502 | $0 |
| Kraw Law Group, Apc | Legal | $40,717 | $0 |
| US Bank | Other services | $33,623 | $0 |
| Caliber Networks | Recordkeeping and information management | $22,440 | $0 |
| Verus Advisors | Consulting (pension); Investment advisory (plan) | $22,000 | $0 |
| Rael & Letson | Actuarial; Consulting (general) | $21,548 | $0 |
| Merrill Lynch Pierce Fenner & Smith | Custodial (other than securities) | $0 | $11,673 |
| Stephen Horn Insurance Services | Insurance agents and brokers | $0 | $5,143 |
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$215,837
- Salaries and allowances$147,265
- Investment advisory and management fees$139,863
- Legal fees$45,983
- Actuarial fees$25,906
- IQPA audit fees$25,500
- Recordkeeping fees$22,291
- Trustee and custodial fees$14,415
- Total administrative expenses$637,060
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)$107M · 86.6%
- Common/collective trusts$6.3M · 5.1%
- U.S. Government securities$5.2M · 4.2%
- Insurance company general account$2.3M · 1.9%
- Cash (interest and non-interest bearing)$1.6M · 1.3%
- Receivables$1.1M · 0.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMiller Kaplan Arase LLP
- Participant contributions reported as transmitted lateYes, $364,077
- 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
2CMoney purchase (other than target benefit) plan2FERISA section 404(c) plan2HPartial participant-directed account plan2JCode section 401(k) feature
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 California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Sheet Metal Workers' Local 206 Section 401(a) Plan | Board of Trustees, Sheet Metal Workers' Local 206 | 1,724 | $61.6M | $35,732 |
| Amigos Development Corporation 401(k) Plan | Amigos Development Corporation | 1,644 | $23.2M | $14,085 |
| Champions Group 401(k) Plan | Champions Group | 1,836 | $42.1M | $22,907 |
| CVC Holding Corp. 401(k) Plan | CVC Holding Corp. | 1,554 | $12.1M | $7,759 |
| San Mateo County Electrical Construction Industry Retiremt Plan | San Mateo County Electrical Construction Industry Retiremt Plan | 1,863 | $676M | $363,092 |
| KS Industries, LP 401(k) Plan | KS Industries, LP | 1,551 | $54.9M | $35,402 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is U.A. Local No. 447 Defined Contribution Plan and Trust?
1,654 participants at the end of the plan year ending 30 Jun 2025, of whom 966 were active employees, with net assets of $123,051,147. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Board of Trustees, U.A. Local No. 447 Defined contribute per participant?
The filing reports $4,780,075 in employer contributions for the year, which is $4,948 per active participant; the median for plans of the same type and size was $2,045 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 $386,238 in compensation to service provider organisations, $234 per participant or 0.31% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $637,060. 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, U.A. Local No. 447 Defined. Recordkeeping or administration: Empower and Caliber Networks. Investment advisory or management: Verus Advisors. Trustee or custodian: Merrill Lynch Pierce Fenner & Smith. The financial statements were audited by Miller Kaplan Arase 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 14 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 68-0401920, plan 002, received 14 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.