Virginia › Information › 500 to 999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Gridiron Fiber Retirement Plan
Sponsored by Gridiron Fiber Corp., Waynesboro, VA
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, Gridiron Fiber Retirement Plan covered 595 participants and held $76.0M in net assets. The plan is a defined benefit pension plan sponsored by Gridiron Fiber Corp. of Waynesboro, Virginia.
Net assets came to $127,766 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $76,035 median for defined benefit plans in information. 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 $292K for the year ($1,835 per active participant) and benefits paid were $6.9M. 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 4 service provider organisations paid $5,000 or more, with reported compensation of $300K: $504 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $776K. 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 $165M in 2020 to $76.0M in 2024 (down 54%), and participants from 1,023 to 595 (down 42%).
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 | $127,766 | $86,583 | $76,035 | $86,221 |
| Employer contributions per active participant | $1,835 | $10,758 | $7,015 | $10,244 |
| Schedule C compensation per participant | $504 | $377 | $354 | $344 |
| Schedule C compensation, share of net assets | 0.39% | 0.48% | 0.46% | 0.42% |
| Administrative expenses per participant | $1,304 | $591 | $671 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), information (147) 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 | 595 | $76.0M | $127,766 | $292K | — | $300K |
| 2023 | 605 | $76.3M | $126,132 | — | — | $340K |
| 2022 | 618 | $78.5M | $127,104 | — | — | $256K |
| 2021 | 1,012 | $131M | $129,510 | — | — | $258K |
| 2020 | 1,023 | $165M | $160,871 | $0 | — | $563K |
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$77,424,946
- Employer contributions$291,698
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$291,698
- Total income, including investment results$6,301,702
- Benefits paid$6,930,261
- Administrative expenses$775,753
- Total expenses$7,706,014
- Net income−$1,404,312
- Net transfers$0
- Net assets, end of year$76,020,634
Participants
- Active participants159
- Retired or separated, receiving benefits198
- Retired or separated, entitled to future benefits220
- Total participants, end of year595
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock | Recordkeeping and information management | $126,363 | $0 |
| Loomis US | Custodial (securities) | $101,051 | $0 |
| Capfinancial Partners, LLC | Investment advisory (plan) | $55,000 | $0 |
| Forvis | Accounting (including auditing) | $17,204 | $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$476,135
- Investment advisory and management fees$156,051
- Contract administrator fees$126,363
- IQPA audit fees$17,204
- Total administrative expenses$775,753
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.
- Corporate debt instruments$38.9M · 51.2%
- Common/collective trusts$33.1M · 43.5%
- Cash (interest and non-interest bearing)$2.3M · 3.0%
- Receivables$1.2M · 1.6%
- Registered investment companies (mutual funds)$563K · 0.7%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmForvis Mazars 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
1ABenefits are primarily pay related1IFrozen plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 517000: Telecommunications (including paging, cellular, satellite, cable & other program distribution, resellers, other telecommunications, & internet service providers).
Other plans of Gridiron Fiber Corp.
| Plan | Participants | Net assets |
|---|---|---|
| Gridiron Fiber Savings and Security Plan | 596 | $56.2M |
Similar plans in Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Intelsat Staff Retirement Plan | Intelsat US LLC | 709 | $298M | $419,757 |
| Global One Cash Balance Pension Plan | Orange Business Services Holdings U. S. , Inc. | 246 | $7.5M | $30,365 |
| Bna Employees Retirement Plan | Bloomberg Industry Group, Inc. | 1,145 | $313M | $273,046 |
| Horizon Telcom and Subsidiaries Salaried Employees Pension Plan & Trust Agreement | Shentel Management Company | 241 | $15.9M | $65,799 |
| Tegna Retirement Plan | Tegna Inc. | 4,908 | $338M | $68,786 |
| Chillicothe Telephone Company Union Employees' Pension Plan and Trust Agreement | Shentel Management Company | 101 | $5.3M | $52,107 |
Defined benefit plans in information closest in size.
Questions and answers
How big is Gridiron Fiber Retirement Plan?
595 participants at the end of the plan year ending 30 Jun 2025, of whom 159 were active employees, with net assets of $76,020,634. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Gridiron Fiber Corp. contribute per participant?
The filing reports $291,698 in employer contributions for the year, which is $1,835 per active participant; the median for plans of the same type and size was $10,758 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 $299,618 in compensation to service provider organisations, $504 per participant or 0.39% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $775,753. 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 Gridiron Fiber Corp.. Recordkeeping or administration: John Hancock. Investment advisory or management: Capfinancial Partners, LLC. Trustee or custodian: Loomis US. The financial statements were audited by Forvis Mazars 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 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 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 86-3776842, plan 001, 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.