Louisiana › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Transit Management of Southeast Louisiana, Inc. Retirement Income Plan
Sponsored by Transit Management of Southeast Louisiana, Inc., New Orleans, LA
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.
Transit Management of Southeast Louisiana, Inc. of New Orleans, Louisiana sponsors Transit Management of Southeast Louisiana, Inc. Retirement Income Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 1,568 participants and $172M in net assets.
Net assets came to $109,383 per participant, above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $19.6M for the year and benefits paid were $15.1M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $1.2M: $751 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $20.7M. 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 $150M in 2009 to $172M in 2024 (up 14%), and participants from 2,040 to 1,568 (down 23%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $109,383 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $751 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.69% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $13,195 | $513 | $650 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), transportation and warehousing (227) 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 | 1,568 | $172M | $109,383 | $19.6M | — | $1.2M |
| 2023 | 1,602 | $174M | $108,397 | $13.8M | — | $1.1M |
| 2022 | 1,631 | $172M | $105,674 | $9.8M | — | $1.7M |
| 2021 | 1,673 | $218M | $130,292 | $14.0M | — | $1.4M |
| 2020 | 1,696 | $226M | $133,360 | $19.3M | — | $1.2M |
| 2019 | 1,717 | $241M | $140,193 | $17.7M | — | $1.2M |
| 2018 | 1,758 | $214M | $121,700 | $17.3M | — | $1.2M |
| 2017 | 1,780 | $237M | $133,291 | $10.0M | — | $1.1M |
| 2016 | 1,822 | $221M | $121,119 | $11.4M | — | $1.2M |
| 2015 | 1,859 | $213M | $114,647 | $10.8M | — | $1.6M |
| 2014 | 1,877 | $220M | $117,107 | $18.0M | — | $1.3M |
| 2013 | 1,905 | $204M | $106,870 | $12.5M | $168K | $1.2M |
| 2012 | 1,940 | $176M | $90,605 | $10.7M | $14K | $1.2M |
| 2011 | 2,011 | $160M | $79,585 | $10.3M | $0 | $1.2M |
| 2010 | 2,140 | $165M | $77,198 | $8.1M | $457K | $1.1M |
| 2009 | 2,040 | $150M | $73,653 | $10.6M | $705K | $992K |
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$173,652,032
- Employer contributions$19,589,277
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$19,589,277
- Total income, including investment results$33,676,941
- Benefits paid$15,126,815
- Administrative expenses$20,689,672
- Total expenses$35,816,487
- Net income−$2,139,546
- Net transfers$0
- Net assets, end of year$171,512,486
Participants
- Active participants—
- Retired or separated, receiving benefits1,025
- Retired or separated, entitled to future benefits308
- Total participants, end of year1,568
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Mariner Institutional, LLC | Investment management | $187,500 | $0 |
| American Realty Advisors | Investment management | $117,962 | $0 |
| Weiler & Rees | Legal | $104,776 | $0 |
| Gulf Coast Bank & Trust | Custodial (securities) | $103,059 | $0 |
| Allspring Global Investments | — | $102,527 | $0 |
| Boyd Watterson Asset Management LLC | Investment management | $95,519 | $0 |
| Foster & Foster, Inc. | Actuarial | $88,901 | $0 |
| Pension Technology Group | Recordkeeping and information management | $75,000 | $0 |
| Seizert Capital Partners LLC | Investment management | $69,752 | $3,319 |
| Kennedy Capital Management Inc. | Investment management | $68,625 | $10 |
| Newton Investment Management North | Investment management | $64,852 | $0 |
| Xponance, Inc. | Investment management | $39,888 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$19,670,103
- Investment advisory and management fees$386,778
- Other trustee fees and expenses$335,805
- Legal fees$104,776
- Trustee and custodial fees$103,059
- Actuarial fees$89,151
- Total administrative expenses$20,689,672
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)$60.0M · 33.3%
- Common/collective trusts$28.2M · 15.7%
- Corporate stocks$20.8M · 11.6%
- Receivables$20.4M · 11.3%
- Corporate debt instruments$13.1M · 7.3%
- Partnership/joint venture interests$12.5M · 7.0%
- Other investments$9.7M · 5.4%
- Real estate$7.2M · 4.0%
- Cash (interest and non-interest bearing)$3.3M · 1.8%
- U.S. Government securities$2.8M · 1.5%
- Insurance company general account$2.0M · 1.1%
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, $3,000,000
- 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
1ABenefits are primarily pay related1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 485110: Urban Transit Systems.
Similar plans in Louisiana
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| New Orleans Employers-International Longshoremen's Association,afl-Cio,pension Plan | Board of Trustees, New Orleans Employers International Longshoremen's | 2,467 | $136M | $55,115 |
| International-Matex Tank Terminals Pension Plan | International-Matex Tank Terminals LLC | 727 | $68.2M | $93,837 |
| Loop LLC Employees' Retirement Plan | Loop LLC | 345 | $113M | $328,770 |
| Shreveport Transit Company, Inc. Employees Retirement and Disability Plan | Shreveport Transit Management, Inc. | 222 | $12.8M | $57,831 |
| Imtt-Illinois Union Pension Plan | International-Matex Tank Terminals LLC | 105 | $8.3M | $78,895 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Transit Management of Southeast Louisiana, Inc. Retirement Income Plan?
1,568 participants at the end of the plan year ending 31 Dec 2024, with net assets of $171,512,486. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Transit Management of Southeast Louisiana, Inc. contribute per participant?
The filing reports $19,589,277 in employer contributions for the year; the median for plans of the same type and size was $10,593 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 $1,178,226 in compensation to service provider organisations, $751 per participant or 0.69% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $20,689,672. 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 Transit Management of Southeast Louisiana, Inc.. Recordkeeping or administration: Pension Technology Group. Investment advisory or management: Mariner Institutional, LLC, American Realty Advisors and Boyd Watterson Asset Management LLC. Trustee or custodian: Gulf Coast Bank & Trust. 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 13 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 72-0956036, plan 001, received 13 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.