California › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
B.A.C. Local No. 3 Pension Plan
Sponsored by Board of Trustees, B.A.C. Local No. 3 Pension Trust, 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.
B.A.C. Local No. 3 Pension Plan is a defined benefit pension plan sponsored by Board of Trustees, B.A.C. Local No. 3 Pension Trust of Pleasanton, California. For the plan year ending 30 Jun 2025 it reported 1,875 participants, 838 of them active, and net assets of $188M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $100,304 per participant, above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and close to the $100,593 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 $6.5M for the year ($7,760 per active participant) and benefits paid were $10.5M. 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 $988K: $527 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.1M. 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 $62.3M in 2011 to $188M in 2024 (up 202%), and participants from 1,137 to 1,875 (up 65%).
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 | $100,304 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $7,760 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $527 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.53% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $611 | $513 | $596 | $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), construction (655) 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 | 1,875 | $188M | $100,305 | $6.5M | — | $988K |
| 2023 | 1,882 | $178M | $94,688 | $6.7M | — | $891K |
| 2022 | 1,806 | $167M | $92,734 | $6.2M | — | $971K |
| 2021 | 1,742 | $161M | $92,550 | $6.1M | — | $605K |
| 2020 | 1,728 | $178M | $103,023 | $6.1M | — | $627K |
| 2019 | 1,433 | $145M | $101,415 | $5.1M | — | $510K |
| 2018 | 1,188 | $99.1M | $83,390 | $3.5M | — | $449K |
| 2017 | 1,181 | $96.4M | $81,607 | $3.5M | — | $579K |
| 2016 | 1,319 | $89.4M | $67,810 | $3.3M | — | $572K |
| 2015 | 1,223 | $81.0M | $66,236 | $3.7M | — | $443K |
| 2014 | 1,123 | $81.4M | $72,500 | $2.9M | — | $496K |
| 2013 | 1,349 | $78.4M | $58,137 | $2.8M | — | $509K |
| 2012 | 1,097 | $69.6M | $63,428 | $3.2M | — | $429K |
| 2011 | 1,137 | $62.3M | $54,793 | $2.4M | — | $433K |
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$178,202,650
- Employer contributions$6,502,784
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,502,784
- Total income, including investment results$21,560,793
- Benefits paid$10,546,031
- Administrative expenses$1,146,496
- Total expenses$11,692,527
- Net income$9,868,266
- Net transfers$0
- Net assets, end of year$188,070,916
Participants
- Active participants838
- Retired or separated, receiving benefits610
- Retired or separated, entitled to future benefits275
- Participants with account balances0
- Total participants, end of year1,875
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Benesys Inc. | Plan Administrator | $237,132 | $0 |
| RBC Global Asset Management | Investment management | $116,220 | $0 |
| Investment Performance Services | Consulting (general); Investment advisory (plan) | $105,000 | $0 |
| Wedge Capital Management | Investment management fees paid directly by plan; 'Soft dollars' commissions | $97,374 | $0 |
| Loomis Sayles & Company | Investment management fees paid directly by plan | $76,962 | $0 |
| NWPS | Actuarial | $60,548 | $0 |
| Kraw Law Group | Legal | $54,027 | $0 |
| American Realty Advisors LLC | Investment management | $46,180 | $0 |
| Victory Capital Management | Investment management fees paid directly by plan | $41,310 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $40,500 | $0 |
| Great Lake Advisors | Investment management fees paid directly by plan | $33,589 | $0 |
| Chartwell Investment Services | Investment management | $33,386 | $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$561,696
- Contract administrator fees$237,132
- Other administrative expenses$136,915
- Legal fees$63,593
- Actuarial fees$60,548
- IQPA audit fees$40,500
- Recordkeeping fees$19,576
- Other trustee fees and expenses$13,938
- Trustee and custodial fees$12,598
- Total administrative expenses$1,146,496
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.
- Partnership/joint venture interests$55.8M · 29.6%
- Common/collective trusts$42.2M · 22.4%
- Corporate stocks$30.7M · 16.3%
- Other investments$15.1M · 8.0%
- 103-12 investment entities$13.9M · 7.4%
- U.S. Government securities$12.5M · 6.7%
- Cash (interest and non-interest bearing)$8.9M · 4.7%
- Corporate debt instruments$8.2M · 4.3%
- Receivables$783K · 0.4%
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, $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
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).
Other plans of Board of Trustees, B.A.C. Local No. 3 Pension Trust
| Plan | Participants | Net assets |
|---|---|---|
| B.A.C. Local No. 3 Defined Contribution Pension Plan | 3,397 | $125M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Brick Masons' Pension Trust Fund | Board of Trustees, Brick Masons' Pension Trust | 1,949 | $152M | $78,135 |
| Local Union 1710 IBEW Pension Trust Fund | Board of Trustees, Local Union 1710 IBEW Pension | 1,817 | $16.8M | $9,243 |
| U.A. Local 467 Defined Benefit Plan | Board of Trustees, U.A. Local 467 Pension Trust | 1,960 | $859M | $438,315 |
| Kern County Electrical Workers Pension Fund | Board of Trustees, Kern County Electrical Workers | 1,736 | $200M | $115,400 |
| U.A. Local No. 447 Pension Fund | Board of Trustees, U.A. Local No. 447 Pension Fund | 2,019 | $274M | $135,827 |
| Northern California Plastering Industry Pension Plan | Board of Trustees, Northern California Plastering Industry Pen | 1,635 | $172M | $105,184 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is B.A.C. Local No. 3 Pension Plan?
1,875 participants at the end of the plan year ending 30 Jun 2025, of whom 838 were active employees, with net assets of $188,070,916. 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, B.A.C. Local No. 3 Pension Trust contribute per participant?
The filing reports $6,502,784 in employer contributions for the year, which is $7,760 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 $987,811 in compensation to service provider organisations, $527 per participant or 0.53% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,146,496. 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, B.A.C. Local No. 3 Pension Trust. Recordkeeping or administration: Benesys Inc.. Investment advisory or management: RBC Global Asset Management, Investment Performance Services and American Realty Advisors LLC. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 3 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 90-0888690, plan 001, received 3 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.