Washington › Manufacturing › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Teamsters-Food Processors Money Purchase Pension Trust
Sponsored by Board of Trustees, Teamsters-Food Processors, Seattle, WA
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.
Teamsters-Food Processors Money Purchase Pension Trust is a money purchase plan sponsored by Board of Trustees, Teamsters-Food Processors of Seattle, Washington. For the plan year ending 31 Dec 2024 it reported 377 participants, 126 of them active, and net assets of $7.2M.
Net assets came to $19,191 per participant, well below the $48,746 median for defined contribution plans with 250 to 499 participants and well below the $62,303 median for defined contribution 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.
The employer contributed $178K during the year, or $1,415 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $218K.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $155K: $411 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $165K. 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 $6.2M in 2009 to $7.2M in 2024 (up 16%), and participants from 1,021 to 377 (down 63%).
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 | $19,191 | $48,746 | $62,303 | $53,102 |
| Employer contributions per active participant | $1,415 | $2,017 | $2,187 | $2,175 |
| Schedule C compensation per participant | $411 | $141 | $136 | $123 |
| Schedule C compensation, share of net assets | 2.1% | 0.30% | 0.24% | 0.26% |
| Administrative expenses per participant | $438 | $133 | $131 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), manufacturing (11,377) 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 | 377 | $7.2M | $19,191 | $178K | — | $155K |
| 2023 | 327 | $6.5M | $19,920 | $202K | — | $167K |
| 2022 | 369 | $6.0M | $16,163 | $240K | — | $151K |
| 2021 | 405 | $8.0M | $19,689 | $284K | — | $220K |
| 2020 | 479 | $7.5M | $15,555 | $338K | — | $200K |
| 2019 | 421 | $7.1M | $16,862 | $339K | — | $171K |
| 2018 | 1,131 | $6.1M | $5,425 | $314K | — | $161K |
| 2017 | 1,135 | $6.5M | $5,753 | $257K | — | $145K |
| 2016 | 1,086 | $6.1M | $5,593 | $200K | — | $132K |
| 2015 | 1,075 | $6.1M | $5,711 | $164K | — | $134K |
| 2014 | 1,032 | $6.8M | $6,604 | $163K | — | $140K |
| 2013 | 1,034 | $6.8M | $6,624 | $167K | — | $111K |
| 2012 | 1,078 | $6.5M | $5,994 | $195K | — | $73K |
| 2011 | 1,044 | $6.6M | $6,344 | $210K | — | $41K |
| 2010 | 1,062 | $6.5M | $6,157 | $212K | — | $109K |
| 2009 | 1,021 | $6.2M | $6,101 | $236K | — | $94K |
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$6,513,949
- Employer contributions$178,231
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$178,231
- Total income, including investment results$1,104,079
- Benefits paid$217,793
- Administrative expenses$165,281
- Total expenses$383,074
- Net income$721,005
- Net transfers$0
- Net assets, end of year$7,234,954
Participants
- Active participants126
- Retired or separated, receiving benefits1
- Retired or separated, entitled to future benefits223
- Participants with account balances274
- Total participants, end of year377
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Ferguson Wellman Capital Management | Investment management | $51,617 | $0 |
| Morgan Stanley Smith Barney LLC | Custodial (securities); Investment advisory (plan); Securities brokerage; Other services | $36,474 | $0 |
| Northwest Administrators, Inc. | Contract Administrator | $29,995 | $0 |
| Trucker Huss, Apc | Legal | $23,086 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $13,600 | $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$51,617
- Trustee and custodial fees$36,474
- Contract administrator fees$29,995
- Legal fees$23,086
- IQPA audit fees$13,600
- Other administrative expenses$9,176
- Other trustee fees and expenses$1,333
- Total administrative expenses$165,281
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.
- Corporate stocks$4.4M · 60.3%
- Registered investment companies (mutual funds)$983K · 13.6%
- Corporate debt instruments$966K · 13.3%
- U.S. Government securities$784K · 10.8%
- Cash (interest and non-interest bearing)$93K · 1.3%
- Receivables$49K · 0.7%
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, $500,000
- 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 311400: Fruit & Vegetable Preserving & Specialty Food Mfg.
Similar plans in Washington
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Aeries Enterprises, LLC Employees 401(k) Savings Plan | Aeries Enterprises, LLC | 379 | $17.0M | $44,912 |
| The Neil Jones Food Company 401(k) Plan | The Neil Jones Food Company | 369 | $29.8M | $80,815 |
| Canyon Creek Cabinet Company Retirement Savings Trust | Canyon Creek Cabinet Company | 383 | $17.1M | $44,652 |
| Mervin Manufacturing 401(k) Plan | Mervin Manufacturing | 364 | $4.6M | $12,579 |
| W K & O/high Cascade 401(k) Plan | Wilkins, Kaiser & Olsen, Inc. | 388 | $28.6M | $73,822 |
| Teal Jones Lumber Services, Inc. 401(k) Plan | Teal Jones Lumber Services, Inc. | 362 | $9.1M | $25,168 |
Defined contribution plans in manufacturing closest in size.
Questions and answers
How big is Teamsters-Food Processors Money Purchase Pension Trust?
377 participants at the end of the plan year ending 31 Dec 2024, of whom 126 were active employees, with net assets of $7,234,954. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Board of Trustees, Teamsters-Food Processors contribute per participant?
The filing reports $178,231 in employer contributions for the year, which is $1,415 per active participant; the median for plans of the same type and size was $2,017 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 $154,772 in compensation to service provider organisations, $411 per participant or 2.1% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $165,281. 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, Teamsters-Food Processors. Recordkeeping or administration: Northwest Administrators, Inc.. Investment advisory or management: Ferguson Wellman Capital Management and Morgan Stanley Smith Barney LLC. Trustee or custodian: Morgan Stanley Smith Barney 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 15 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 91-1138243, plan 001, received 15 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.