California › Manufacturing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Steelworkers Western Independent Shops Pension Plan
Sponsored by Board of Trustees, Steelworkers Western Independent, Pleasanton, CA
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, Steelworkers Western Independent of Pleasanton, California sponsors Steelworkers Western Independent Shops Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 30 Sep 2025 shows 2,754 participants (481 active) and $131M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $47,722 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well below the $67,961 median for defined benefit plans in manufacturing. 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 $6.4M for the year ($13,290 per active participant) and benefits paid were $10.2M. 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 9 service provider organisations paid $5,000 or more, with reported compensation of $1.3M: $476 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.5M. 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 $86.3M in 2009 to $131M in 2024 (up 52%), and participants from 3,395 to 2,754 (down 19%).
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 | $47,722 | $87,935 | $67,961 | $86,221 |
| Employer contributions per active participant | $13,290 | $10,593 | $6,915 | $10,244 |
| Schedule C compensation per participant | $476 | $325 | $299 | $344 |
| Schedule C compensation, share of net assets | 1.00% | 0.41% | 0.47% | 0.42% |
| Administrative expenses per participant | $545 | $513 | $498 | $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), manufacturing (1,532) 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 | 2,754 | $131M | $47,722 | $6.4M | — | $1.3M |
| 2023 | 2,798 | $123M | $44,057 | $5.9M | — | $1.3M |
| 2022 | 2,787 | $111M | $39,720 | $5.3M | — | $1.2M |
| 2021 | 2,747 | $107M | $38,848 | $4.7M | — | $1.2M |
| 2020 | 2,843 | $128M | $44,883 | $4.5M | — | $1.1M |
| 2019 | 2,922 | $113M | $38,635 | $5.4M | — | $1.0M |
| 2018 | 3,606 | $111M | $30,682 | $5.0M | — | $963K |
| 2017 | 3,485 | $112M | $32,098 | $4.6M | — | $930K |
| 2016 | 3,480 | $110M | $31,595 | $4.4M | — | $926K |
| 2015 | 3,255 | $103M | $31,698 | $4.6M | — | $817K |
| 2014 | 3,303 | $100M | $30,325 | $5.0M | — | $738K |
| 2013 | 3,299 | $105M | $31,723 | $4.4M | — | $635K |
| 2012 | 3,320 | $101M | $30,305 | $4.9M | — | $703K |
| 2011 | 3,349 | $93.9M | $28,043 | $4.0M | — | $587K |
| 2010 | 3,389 | $83.4M | $24,612 | $3.8M | — | $531K |
| 2009 | 3,395 | $86.3M | $25,429 | $3.2M | — | $457K |
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$123,271,389
- Employer contributions$6,392,443
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,392,443
- Total income, including investment results$19,875,620
- Benefits paid$10,220,903
- Administrative expenses$1,500,599
- Total expenses$11,721,502
- Net income$8,154,118
- Net transfers$0
- Net assets, end of year$131,425,507
Participants
- Active participants481
- Retired or separated, receiving benefits1,242
- Retired or separated, entitled to future benefits780
- Participants with account balances0
- Total participants, end of year2,754
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| SEI Investments Company | Investment management; Securities brokerage; Custodial (securities); Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Trustee (directed) | $810,346 | $0 |
| Benesys Administrators | Plan Administrator; Recordkeeping and information management; Investment advisory (participants); Participant communication | $182,630 | $0 |
| The Segal Company Inc. | Consulting (pension); Actuarial | $143,442 | $0 |
| Trucker Huss, Apc | Legal | $55,510 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $51,500 | $0 |
| US Bank | Trustee (bank, trust company, or similar financial institution) | $35,707 | $0 |
| Stephen Horn Insurance Services | Insurance brokerage commissions and fees | $0 | $11,984 |
| Iron Mountain | Other services | $10,846 | $0 |
| Smart Source LLC | Other services | $8,468 | $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$810,346
- Other administrative expenses$221,464
- Contract administrator fees$182,630
- Actuarial fees$143,442
- Legal fees$55,510
- Trustee and custodial fees$35,707
- IQPA audit fees$32,500
- Recordkeeping fees$19,000
- Total administrative expenses$1,500,599
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)$93.0M · 70.6%
- Common/collective trusts$37.4M · 28.4%
- Buildings and other property used in plan operation$774K · 0.6%
- Receivables$370K · 0.3%
- Cash (interest and non-interest bearing)$149K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmMiller Kaplan Arase LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the year—
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 332900: Other Fabricated Metal Product Mfg.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Teledyne Technologies Incorporated Pension Plan | Teledyne Technologies Incorporated | 2,802 | $546M | $194,821 |
| Solar Turbines Incorporated Non-Contributory Retirement Plan | Solar Turbines Incorporated | 2,315 | $274M | $118,373 |
| The Cooper Companies, Inc. Retirement Income Plan | The Cooper Companies, Inc. | 3,148 | $161M | $51,252 |
| Del Monte Foods Corporation II Inc. Retirement Plan | Del Monte Foods Corporation II Inc. | 2,160 | $176M | $81,634 |
| Silgan Closed Pension Plan | Silgan Containers Manufacturing Corporation | 3,834 | $368M | $96,031 |
| Iron Workers Regional Shop Local Union No 855 Pension Trust | Iron Workers Regional Shop Local Union 855 Pension Trust | 2,111 | $77.1M | $36,540 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Steelworkers Western Independent Shops Pension Plan?
2,754 participants at the end of the plan year ending 30 Sep 2025, of whom 481 were active employees, with net assets of $131,425,507. 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, Steelworkers Western Independent contribute per participant?
The filing reports $6,392,443 in employer contributions for the year, which is $13,290 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 $1,310,433 in compensation to service provider organisations, $476 per participant or 1.00% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,500,599. 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, Steelworkers Western Independent. Recordkeeping or administration: Benesys Administrators. Investment advisory or management: SEI Investments Company and Benesys Administrators. Trustee or custodian: SEI Investments Company and US Bank. The financial statements were audited by Miller Kaplan Arase 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. 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 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 10 Jul 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 90-0169564, plan 001, received 10 Jul 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.