Illinois › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Dec 2024 to 30 Nov 2025
Iron Workers Mid-South Pension Fund
Sponsored by Trustees - Iron Workers Mid-South Pension Fund, Oak Brook, IL
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 Nov 2025, Iron Workers Mid-South Pension Fund covered 3,000 participants and held $159M in net assets. The plan is a defined benefit pension plan sponsored by Trustees - Iron Workers Mid-South Pension Fund of Oak Brook, Illinois. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $53,102 per participant, well below the $87,371 median for defined benefit plans with 1,000 to 4,999 participants and well below the $100,304 median for defined benefit 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.
Employer contributions were $6.3M for the year ($9,338 per active participant) and benefits paid were $14.0M. 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 8 service provider organisations paid $5,000 or more, with reported compensation of $804K: $268 per participant, below the same-size median of $324. 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 $103M in 2009 to $159M in 2024 (up 54%), and participants from 3,474 to 3,000 (down 14%).
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 | $53,102 | $87,371 | $100,304 | $86,073 |
| Employer contributions per active participant | $9,338 | $10,551 | $13,287 | $10,170 |
| Schedule C compensation per participant | $268 | $324 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.51% | 0.41% | 0.47% | 0.43% |
| Administrative expenses per participant | $555 | $513 | $594 | $526 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,558 plans), construction (661) and all US plans (5,366). 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 | 3,000 | $159M | $53,102 | $6.3M | — | $804K |
| 2023 | 3,045 | $155M | $50,942 | $7.6M | — | $623K |
| 2022 | 3,147 | $142M | $44,970 | $7.4M | — | $637K |
| 2021 | 3,494 | $140M | $39,987 | $5.7M | — | $823K |
| 2020 | 3,410 | $161M | $47,186 | $5.9M | — | $840K |
| 2019 | 3,624 | $146M | $40,387 | $8.4M | — | $886K |
| 2018 | 3,235 | $138M | $42,521 | $9.8M | — | $880K |
| 2017 | 3,448 | $128M | $37,132 | $9.1M | — | $885K |
| 2016 | 3,891 | $130M | $33,505 | $7.9M | — | $890K |
| 2015 | 3,466 | $120M | $34,595 | $7.0M | — | $855K |
| 2014 | 3,618 | $122M | $33,641 | $8.1M | — | $1.1M |
| 2013 | 3,684 | $125M | $33,960 | $7.5M | — | $992K |
| 2012 | 3,618 | $119M | $32,987 | $7.3M | — | $791K |
| 2011 | 3,724 | $107M | $28,833 | $7.1M | — | $1.2M |
| 2010 | 3,463 | $102M | $29,421 | $5.6M | — | $1.1M |
| 2009 | 3,474 | $103M | $29,741 | $4.3M | — | $770K |
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$155,118,248
- Employer contributions$6,265,698
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,265,698
- Total income, including investment results$19,829,548
- Benefits paid$13,974,104
- Administrative expenses$1,666,477
- Total expenses$15,640,581
- Net income$4,188,967
- Net transfers$0
- Net assets, end of year$159,307,215
Participants
- Active participants671
- Retired or separated, receiving benefits1,291
- Retired or separated, entitled to future benefits727
- Total participants, end of year3,000
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Zenith American Solutions, Inc. | Plan Administrator | $432,699 | $0 |
| The Segal Company | Actuarial; Consulting (general) | $97,550 | $0 |
| Segal Marco Advisors | Investment advisory (plan) | $79,943 | $0 |
| Robein, Urann, Spencer, Et Al | Legal | $51,768 | $0 |
| Needles & Associates, LLC | Accounting (including auditing) | $51,087 | $0 |
| Crown Securities | Investment advisory (plan) | $48,538 | $0 |
| Hancock Whitney Bank | Custodial (securities) | $21,226 | $0 |
| Amalgamated Bank | Other fees | $21,125 | $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$734,699
- Contract administrator fees$432,699
- Other administrative expenses$258,121
- Actuarial fees$97,550
- Legal fees$54,051
- IQPA audit fees$51,087
- Other trustee fees and expenses$38,270
- Total administrative expenses$1,666,477
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.
- Common/collective trusts$64.7M · 40.1%
- Partnership/joint venture interests$37.4M · 23.2%
- Registered investment companies (mutual funds)$35.4M · 21.9%
- Pooled separate accounts$10.2M · 6.3%
- Corporate stocks$8.6M · 5.3%
- Cash (interest and non-interest bearing)$4.2M · 2.6%
- Receivables$780K · 0.5%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmNeedles, Oyewo & Associates, LLC.
- 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)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238100: Foundation, Structure, & Building Exterior Contractors (including framing carpentry, masonry, glass, roofing, & siding).
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Painters District Council No. 30 Pension Fund | Board of Trustees Painters District Coun No. 30 Pension Fund | 3,081 | $460M | $149,395 |
| IBEW Local 701 Pension Fund | Board of Trustees, 701 Pension Fund | 2,779 | $528M | $189,822 |
| Structural Iw Local #1 Pension Plan | BD of Trustees-Structural Iw #1 Pension Plan | 3,189 | $663M | $207,987 |
| Fox Valley & Vicinity Construction Workers Pension Fund | Trustees of the Fox Valley Const Workers Pension | 2,515 | $336M | $133,535 |
| Pension Fund of Cement Masons Union Local No. 502 | Board of Trustees Cement Masons' Pension Fund | 3,217 | $601M | $186,885 |
| Tuckpointer Local 52 Pension Plan | Tuckpointer Local 52 Pension Plan | 2,187 | $410M | $187,455 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Iron Workers Mid-South Pension Fund?
3,000 participants at the end of the plan year ending 30 Nov 2025, of whom 671 were active employees, with net assets of $159,307,215. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,558 plans in plan year 2024.
What does Trustees - Iron Workers Mid-South Pension Fund contribute per participant?
The filing reports $6,265,698 in employer contributions for the year, which is $9,338 per active participant; the median for plans of the same type and size was $10,551 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 $803,936 in compensation to service provider organisations, $268 per participant or 0.51% of net assets. The same-size median among plans reporting any Schedule C compensation was $324 per participant. Administrative expenses on Schedule H were $1,666,477. 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 Trustees - Iron Workers Mid-South Pension Fund. Recordkeeping or administration: Zenith American Solutions, Inc.. Investment advisory or management: Segal Marco Advisors and Crown Securities. Trustee or custodian: Hancock Whitney Bank. The financial statements were audited by Needles, Oyewo & Associates, LLC.. 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 Dec 2024 to 30 Nov 2025, received by the Department of Labor on 14 Sep 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 Sep 2026. This page shows the latest filing on record for EIN 72-6032179, plan 001, received 14 Sep 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.