Utah › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
Intermountain Ironworkers Pension Trust
Sponsored by Board of Trustees Intermountain Ironworkers Pension Trust, Salt Lake City, UT
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.
Intermountain Ironworkers Pension Trust is a defined benefit pension plan sponsored by Board of Trustees Intermountain Ironworkers Pension Trust of Salt Lake City, Utah. For the plan year ending 31 May 2025 it reported 2,975 participants, 690 of them active, and net assets of $161M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $54,151 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $119,983 median for defined benefit plans in finance and insurance. 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 $12.4M for the year ($17,925 per active participant) and benefits paid were $17.7M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $973K: $327 per participant, close to the same-size median of $325. Administrative expenses charged to the plan were $1.3M. 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 $134M in 2009 to $161M in 2024 (up 21%), and participants from 3,364 to 2,975 (down 12%).
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 | $54,151 | $87,935 | $119,983 | $86,221 |
| Employer contributions per active participant | $17,925 | $10,593 | $7,849 | $10,244 |
| Schedule C compensation per participant | $327 | $325 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.60% | 0.41% | 0.32% | 0.42% |
| Administrative expenses per participant | $429 | $513 | $433 | $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), finance and insurance (690) 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 | 2,975 | $161M | $54,151 | $12.4M | — | $973K |
| 2023 | 2,967 | $157M | $53,008 | $10.4M | — | $955K |
| 2022 | 2,958 | $151M | $51,009 | $10.1M | — | $717K |
| 2021 | 2,978 | $159M | $53,393 | $9.4M | — | $1.0M |
| 2020 | 2,978 | $173M | $58,014 | $10.2M | — | $815K |
| 2019 | 3,037 | $148M | $48,845 | $9.0M | — | $987K |
| 2018 | 3,092 | $157M | $50,773 | $10.1M | — | $1.1M |
| 2017 | 3,062 | $168M | $54,884 | $9.6M | — | $1.3M |
| 2016 | 3,110 | $162M | $52,184 | $8.0M | — | $1.3M |
| 2015 | 3,195 | $155M | $48,445 | $8.0M | — | $1.2M |
| 2014 | 3,197 | $169M | $52,944 | $6.9M | — | $1.2M |
| 2013 | 3,200 | $169M | $52,720 | $6.6M | — | $1.2M |
| 2012 | 3,223 | $158M | $49,133 | $6.7M | — | $1.1M |
| 2011 | 3,255 | $142M | $43,662 | $6.9M | — | $1.1M |
| 2010 | 3,310 | $156M | $47,244 | $7.1M | — | $1.3M |
| 2009 | 3,364 | $134M | $39,735 | $7.4M | — | $1.4M |
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$157,273,711
- Employer contributions$12,368,003
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$12,368,003
- Total income, including investment results$22,760,007
- Benefits paid$17,658,177
- Administrative expenses$1,276,040
- Total expenses$18,934,217
- Net income$3,825,790
- Net transfers$0
- Net assets, end of year$161,099,501
Participants
- Active participants690
- Retired or separated, receiving benefits1,283
- Retired or separated, entitled to future benefits745
- Total participants, end of year2,975
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Benesys Administrators | Recordkeeping and information management | $268,281 | $0 |
| Rael & Letson | Actuarial | $192,514 | $0 |
| NCS Group Trust International Fund | Investment management fees paid directly by plan | $98,506 | $0 |
| Acadian Asset Managment LLC | Investment management | $75,816 | $0 |
| Ullico Investment Advisors Inc. | Investment management fees paid directly by plan | $72,808 | $0 |
| Haynie & Company | Accounting (including auditing) | $61,003 | $0 |
| Washinton Capital Management, Inc. | Investment management | $60,588 | $0 |
| US Bank | Custodial (securities) | $42,164 | $0 |
| Brandywine Global Investment MGMT | Investment management | $40,848 | $0 |
| Nepc, LLC | Investment advisory (plan) | $30,278 | $0 |
| Smart Source LLC | Copying and duplicating; Other services | $20,218 | $0 |
| Deboer & Associates, PC | Accounting (including auditing) | $9,620 | $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$409,579
- Contract administrator fees$248,528
- Other administrative expenses$221,353
- Actuarial fees$192,514
- Legal fees$96,705
- IQPA audit fees$79,393
- Trustee and custodial fees$27,968
- Total administrative expenses$1,276,040
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)$54.8M · 33.9%
- Partnership/joint venture interests$46.8M · 28.9%
- 103-12 investment entities$25.9M · 16.0%
- Corporate debt instruments$17.1M · 10.6%
- Common/collective trusts$13.2M · 8.2%
- Cash (interest and non-interest bearing)$2.2M · 1.4%
- Receivables$1.6M · 1.0%
- Buildings and other property used in plan operation$30K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmHaynie & Company
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- 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 525920: Trusts, Estates, & Agency Accounts.
Similar plans in Utah
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| America First Credit Union Pension Plan | America First Credit Union | 3,585 | $600M | $167,262 |
| Utah Sheet Metal Pension Trust | Utah Sheet Metal Pension Trust | 1,685 | $275M | $163,160 |
| Deseret Mutual Master Retirement Plan | Deseret Mutual Benefit Administrators | 32,235 | $6.96B | $215,940 |
| Goldenwest Federal Credit Union Defined Benefit Plan and Trust | Goldenwest Federal Credit Union | 706 | $46.2M | $65,449 |
| Cyprus Federal Credit Union Cash Balance Defined Benefit Plan and Trust | Cyprus Federal Credit Union | 499 | $39.6M | $79,448 |
| Utah Bakers Pension Trust Fund | Trustees of the Utah Bakers Pension Trust Fund | 487 | $9.3M | $19,179 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Intermountain Ironworkers Pension Trust?
2,975 participants at the end of the plan year ending 31 May 2025, of whom 690 were active employees, with net assets of $161,099,501. 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 Intermountain Ironworkers Pension Trust contribute per participant?
The filing reports $12,368,003 in employer contributions for the year, which is $17,925 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 $972,644 in compensation to service provider organisations, $327 per participant or 0.60% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,276,040. 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 Intermountain Ironworkers Pension Trust. Recordkeeping or administration: Benesys Administrators. Investment advisory or management: Acadian Asset Managment LLC, Washinton Capital Management, Inc. and Brandywine Global Investment MGMT. Trustee or custodian: US Bank. The financial statements were audited by Haynie & Company. 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 16 Mar 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 87-6124266, plan 001, received 16 Mar 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.