California › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
B.A.C. Local No. 3 Defined Contribution Pension Plan
Sponsored by Board of Trustees, B.A.C. Local 3 Pension Trust Fund, 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 Defined Contribution Pension Plan is a money purchase plan sponsored by Board of Trustees, B.A.C. Local 3 Pension Trust Fund of Pleasanton, California. For the plan year ending 30 Jun 2025 it reported 3,397 participants, 702 of them active, and net assets of $125M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $36,916 per participant, well below the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well below the $92,294 median for defined contribution 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.
The employer contributed $3.1M during the year, or $4,420 per active participant against a same-size median of $2,045; participants contributed —. Benefits paid out totalled $8.9M.
Schedule C lists 12 service provider organisations paid $5,000 or more, with reported compensation of $588K: $173 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $653K. 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 $52.2M in 2011 to $125M in 2024 (up 140%), and participants from 3,024 to 3,397 (up 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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $36,916 | $50,295 | $92,294 | $53,102 |
| Employer contributions per active participant | $4,420 | $2,045 | $3,564 | $2,175 |
| Schedule C compensation per participant | $173 | $82.08 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.47% | 0.17% | 0.17% | 0.26% |
| Administrative expenses per participant | $192 | $82.20 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), finance and insurance (4,391) and all US plans (63,460). 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 | 3,397 | $125M | $36,916 | $3.1M | — | $588K |
| 2023 | 3,600 | $121M | $33,718 | $3.2M | — | $514K |
| 2022 | 3,099 | $112M | $36,054 | $2.9M | — | $516K |
| 2021 | 3,900 | $111M | $28,425 | $2.7M | — | $714K |
| 2020 | 4,128 | $124M | $30,093 | $2.7M | — | $404K |
| 2019 | 4,192 | $105M | $25,130 | $2.4M | — | $340K |
| 2018 | 2,897 | $73.8M | $25,460 | $1.8M | — | $301K |
| 2017 | 2,593 | $69.0M | $26,608 | $1.9M | — | $411K |
| 2016 | 2,705 | $65.5M | $24,213 | $1.8M | — | $391K |
| 2015 | 2,790 | $62.7M | $22,475 | $1.8M | — | $301K |
| 2014 | 2,840 | $63.6M | $22,391 | $1.3M | — | $344K |
| 2013 | 2,909 | $63.9M | $21,961 | $1.2M | — | $328K |
| 2012 | 2,960 | $56.1M | $18,941 | $1.3M | — | $317K |
| 2011 | 3,024 | $52.2M | $17,253 | $1.0M | — | $289K |
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$121,384,583
- Employer contributions$3,102,681
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$3,102,681
- Total income, including investment results$13,541,759
- Benefits paid$8,869,312
- Administrative expenses$652,772
- Total expenses$9,522,084
- Net income$4,019,675
- Net transfers$0
- Net assets, end of year$125,404,258
Participants
- Active participants702
- Retired or separated, receiving benefits42
- Retired or separated, entitled to future benefits2,653
- Participants with account balances0
- Total participants, end of year3,397
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| RBC Global Asset Management | Investment management | $105,236 | $0 |
| Chartwell Investment Partners LP | Investment management; Named fiduciary | $80,890 | $0 |
| Benesys Inc. | Plan Administrator | $64,376 | $0 |
| Investment Performance Services | Consulting (general); Investment advisory (plan) | $61,875 | $0 |
| Wedge Capital Management LLP | Investment management fees paid directly by plan; 'Soft dollars' commissions | $58,093 | $0 |
| Loomis Sayles & Company | Investment management fees paid directly by plan | $52,136 | $0 |
| Kraw Law Group | Legal | $43,140 | $0 |
| Victory Capital Management | Investment management fees paid directly by plan | $33,297 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $26,000 | $0 |
| Great Lakes Advisors LLC | Investment management fees paid directly by plan | $22,406 | $0 |
| American Realty Advisors | Investment management | $21,973 | $0 |
| U.S. Bank | Custodial (securities) | $18,841 | $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$436,882
- Contract administrator fees$64,376
- Other administrative expenses$50,973
- Legal fees$48,786
- IQPA audit fees$26,000
- Recordkeeping fees$13,871
- Other trustee fees and expenses$8,137
- Trustee and custodial fees$3,747
- Total administrative expenses$652,772
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$38.1M · 30.4%
- Common/collective trusts$26.2M · 20.9%
- Corporate stocks$18.1M · 14.4%
- Corporate debt instruments$14.1M · 11.2%
- U.S. Government securities$11.8M · 9.4%
- 103-12 investment entities$7.0M · 5.5%
- Cash (interest and non-interest bearing)$5.7M · 4.6%
- Other investments$3.6M · 2.9%
- Receivables$536K · 0.4%
- Participant loans$318K · 0.3%
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
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Other plans of Board of Trustees, B.A.C. Local 3 Pension Trust Fund
| Plan | Participants | Net assets |
|---|---|---|
| B.A.C. Local No. 3 Pension Plan | 1,875 | $188M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Schoolsfirst Federal Credit Union 401(k) Retirement Plan | Schoolsfirst Federal Credit Union | 3,519 | $440M | $125,064 |
| American Pacific Mortgage Corporation Employee Stock Ownership Plan | American Pacific Mortgage Corporation | 3,364 | $33.8M | $10,033 |
| Robinhood 401(k) Plan | Robinhood Markets, Inc. | 3,609 | $246M | $68,218 |
| The Golden 1 Employee Savings and Investment Plan | Golden 1 Credit Union | 3,173 | $292M | $91,968 |
| Cetera Financial Group, Inc. 401(k) Savings Plan | Cetera Financial Group, Inc. | 3,822 | $471M | $123,304 |
| Carrington 401(k) Plan | Carrington Holding Company, LLC | 3,150 | $129M | $40,811 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is B.A.C. Local No. 3 Defined Contribution Pension Plan?
3,397 participants at the end of the plan year ending 30 Jun 2025, of whom 702 were active employees, with net assets of $125,404,258. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Board of Trustees, B.A.C. Local 3 Pension Trust Fund contribute per participant?
The filing reports $3,102,681 in employer contributions for the year, which is $4,420 per active participant; the median for plans of the same type and size was $2,045 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 $588,263 in compensation to service provider organisations, $173 per participant or 0.47% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $652,772. 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 3 Pension Trust Fund. Recordkeeping or administration: Benesys Inc.. Investment advisory or management: RBC Global Asset Management, Chartwell Investment Partners LP and Investment Performance Services. Trustee or custodian: U.S. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 24 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 90-0888690, plan 002, received 24 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.