Virginia › Other services › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Smart Local Unions and Councils Pension Fund
Sponsored by Board of Trustees of the Smart Local Unions and Councils Pension Fund, Falls Church, 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.
Board of Trustees of the Smart Local Unions and Councils Pension Fund of Falls Church, Virginia sponsors Smart Local Unions and Councils Pension Fund, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 3,053 participants (995 active) and $397M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $129,887 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and above the $110,377 median for defined benefit plans in other services. 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 $20.7M for the year ($20,824 per active participant) and benefits paid were $31.7M. 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 $1.8M: $604 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.6M. 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 $414M in 2021 to $397M in 2024 (down 4%), and participants from 2,916 to 3,053 (up 5%).
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 | $129,887 | $87,935 | $110,377 | $86,221 |
| Employer contributions per active participant | $20,824 | $10,593 | $13,001 | $10,244 |
| Schedule C compensation per participant | $604 | $325 | $486 | $344 |
| Schedule C compensation, share of net assets | 0.47% | 0.41% | 0.44% | 0.42% |
| Administrative expenses per participant | $532 | $513 | $662 | $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), other services (226) 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 | 3,053 | $397M | $129,887 | $20.7M | — | $1.8M |
| 2023 | 3,024 | $374M | $123,784 | $18.5M | — | $2.0M |
| 2022 | 2,905 | $348M | $119,786 | $17.5M | — | $2.0M |
| 2021 | 2,916 | $414M | $141,996 | $16.4M | — | $1.8M |
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$374,321,848
- Employer contributions$20,719,657
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$20,719,657
- Total income, including investment results$55,555,362
- Benefits paid$31,706,383
- Administrative expenses$1,625,004
- Total expenses$33,331,387
- Net income$22,223,975
- Net transfers$0
- Net assets, end of year$396,545,823
Participants
- Active participants995
- Retired or separated, receiving benefits1,262
- Retired or separated, entitled to future benefits514
- Total participants, end of year3,053
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Smwnpf | Accounting (including auditing); Claims processing | $485,258 | $0 |
| Morgan Stanley Smith Barney LLC | Investment advisory (plan); Securities brokerage | $401,937 | $0 |
| Graystone Consulting | Investment management; Securities brokerage | $233,593 | $0 |
| Mooney, Green, Saindon, Murphy & We | Legal | $108,969 | $0 |
| The Bank of New York Mellon | Custodial (securities) | $107,678 | $0 |
| Segal Consulting | Actuarial; Consulting (general) | $100,000 | $0 |
| Pacific Income Advisors | Investment management | $61,598 | $0 |
| Delaware Capital Management | Investment management | $53,339 | $0 |
| Aristotle Capital Management LLC | Investment management | $48,633 | $0 |
| Foundry Partners | Investment management | $48,393 | $0 |
| Earnest Partners | Investment management | $39,514 | $0 |
| Calibre CPA Group PLLC | Accounting (including auditing) | $35,000 | $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
- Investment advisory and management fees$713,269
- Contract administrator fees$391,748
- Other administrative expenses$179,469
- Legal fees$108,969
- Actuarial fees$100,000
- Other trustee fees and expenses$96,548
- IQPA audit fees$35,001
- Total administrative expenses$1,625,004
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$129M · 32.5%
- Partnership/joint venture interests$72.5M · 18.3%
- Corporate stocks$62.4M · 15.7%
- Corporate debt instruments$37.4M · 9.4%
- U.S. Government securities$33.5M · 8.5%
- Registered investment companies (mutual funds)$29.0M · 7.3%
- Pooled separate accounts$18.7M · 4.7%
- Cash (interest and non-interest bearing)$10.3M · 2.6%
- Receivables$2.7M · 0.7%
- Real estate$1.1M · 0.3%
- Buildings and other property used in plan operation$90K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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 related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 813930: Labor Unions and Similar Labor Organizations.
Similar plans in Virginia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Hrsa-Ila Pension Plan | Board of Trustees of the Hrsa-Ila Pension Plan | 4,245 | $595M | $140,048 |
| Retirement Plan for National Office and Field Staff Employees of the March of Dimes Foundation | March of Dimes Inc. | 850 | $92.8M | $109,222 |
| Society for Human Resource Management Pension Plan and Trust | Society for Human Resource Management | 624 | $89.0M | $142,666 |
| International Union, United Mine Workers of America Pension Plan | International Union, United Mine Workers of America | 577 | $87.0M | $150,740 |
| Nra Employee Retirement Plan | National Rifle Association of America, Inc. | 397 | $72.2M | $181,767 |
| Air Line Pilots Association, International Market Based Cash Balance Plan | Air Line Pilots Association International | 375 | $9.3M | $24,753 |
Defined benefit plans in other services closest in size.
Questions and answers
How big is Smart Local Unions and Councils Pension Fund?
3,053 participants at the end of the plan year ending 31 Dec 2024, of whom 995 were active employees, with net assets of $396,545,823. 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 Board of Trustees of the Smart Local Unions and Councils Pension Fund contribute per participant?
The filing reports $20,719,657 in employer contributions for the year, which is $20,824 per active participant; 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 $1,842,991 in compensation to service provider organisations, $604 per participant or 0.47% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,625,004. 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 of the Smart Local Unions and Councils Pension Fund. Investment advisory or management: Morgan Stanley Smith Barney LLC, Graystone Consulting and Pacific Income Advisors. Trustee or custodian: The Bank of New York Mellon. The financial statements were audited by Calibre CPA Group. 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 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 87-4825609, plan 333, 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.