California › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
IBEW Local 595 Money Purchase Pension Plan
Sponsored by Board of Trustees, IBEW Local 595 Money Purchase, 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.
IBEW Local 595 Money Purchase Pension Plan is a money purchase plan sponsored by Board of Trustees, IBEW Local 595 Money Purchase of Pleasanton, California. For the plan year ending 31 Dec 2024 it reported 3,223 participants, 1,599 of them active, and net assets of $546M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $169,509 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $54,962 median for defined contribution 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.
The employer contributed $14.5M during the year, or $9,084 per active participant against a same-size median of $2,045; participants contributed — and $30K arrived as rollovers and other contributions. Benefits paid out totalled $44.5M.
Schedule C lists 10 service provider organisations paid $5,000 or more, with reported compensation of $1.3M: $418 per participant, well above the same-size median of $82.08. 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 $301M in 2009 to $546M in 2024 (up 81%), and participants from 3,052 to 3,223 (up 6%).
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 | $169,509 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $9,084 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $418 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.25% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $454 | $82.20 | $166 | $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), construction (4,204) 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 | 3,223 | $546M | $169,509 | $14.5M | — | $1.3M |
| 2023 | 3,295 | $523M | $158,808 | $14.5M | — | $1.3M |
| 2022 | 3,337 | $471M | $141,208 | $15.1M | — | $1.3M |
| 2021 | 3,275 | $542M | $165,541 | $14.1M | — | $1.2M |
| 2020 | 3,203 | $480M | $149,754 | $13.6M | — | $1.2M |
| 2019 | 3,431 | $459M | $133,670 | $14.5M | — | $1.2M |
| 2018 | 3,210 | $400M | $124,504 | $12.2M | — | $1.2M |
| 2017 | 3,158 | $427M | $135,313 | $12.6M | — | $1.2M |
| 2016 | 3,034 | $389M | $128,200 | $11.2M | — | $1.1M |
| 2015 | 3,017 | $360M | $119,351 | $10.3M | — | $1.1M |
| 2014 | 3,064 | $385M | $125,637 | $8.2M | — | $1.1M |
| 2013 | 3,032 | $373M | $123,186 | $8.1M | — | $1.0M |
| 2012 | 3,088 | $321M | $103,896 | $8.8M | — | $958K |
| 2011 | 2,895 | $298M | $102,777 | $7.2M | — | $893K |
| 2010 | 2,994 | $313M | $104,694 | $6.6M | — | $925K |
| 2009 | 3,052 | $301M | $98,713 | $5.4M | — | $773K |
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$523,270,947
- Employer contributions$14,524,931
- Participant contributions—
- Rollovers and other contributions$30,000
- Total contributions$14,554,931
- Total income, including investment results$69,599,244
- Benefits paid$44,507,489
- Administrative expenses$1,463,347
- Total expenses$46,541,543
- Net income$23,057,701
- Net transfers$0
- Net assets, end of year$546,328,648
Participants
- Active participants1,599
- Retired or separated, receiving benefits280
- Retired or separated, entitled to future benefits1,321
- Participants with account balances3,199
- Total participants, end of year3,223
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Dodge and Cox | Investment management | $585,059 | $0 |
| Benesys, Inc. | Plan Administrator | $238,180 | $0 |
| Electrical Industry Service Corp. | Plan Administrator | $163,127 | $0 |
| Fidelity Inv Inst Operations Co. Inc. | Participant loan processing | $157,947 | $0 |
| Investment Performance Srvcs, LLC | Consulting (general); Investment advisory (plan) | $56,000 | $0 |
| Leonard Carder, LLP | Legal | $48,074 | $0 |
| Miller Kaplan Arase LLP | Accounting (including auditing) | $45,220 | $0 |
| Rael & Letson | Actuarial; Consulting (pension) | $25,585 | $0 |
| Stephen Horn Insurance Services | Insurance agents and brokers | $0 | $18,007 |
| San Joaquin & Calaveras Cntys Jatc | Other services | $10,799 | $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$641,058
- Other administrative expenses$295,495
- Contract administrator fees$238,180
- Recordkeeping fees$157,947
- Legal fees$48,074
- IQPA audit fees$45,220
- Actuarial fees$25,585
- Other trustee fees and expenses$11,788
- Total administrative expenses$1,463,347
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.
- Common/collective trusts$265M · 48.5%
- Corporate stocks$105M · 19.2%
- Registered investment companies (mutual funds)$74.6M · 13.6%
- Corporate debt instruments$48.0M · 8.8%
- U.S. Government securities$45.2M · 8.3%
- Participant loans$3.7M · 0.7%
- Receivables$3.1M · 0.6%
- Cash (interest and non-interest bearing)$1.4M · 0.3%
- Other investments$397K · 0.1%
- Buildings and other property used in plan operation$105K · 0.0%
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, $10,000,000
- 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 238210: Electrical Contractors.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Teichert Inc. Retirement Savings Plan | Teichert, Inc. | 3,272 | $236M | $72,248 |
| Legence 401(k) Plan | Legence Holdings LLC | 2,938 | $217M | $73,800 |
| Airconditioning and Refrigeration Industry Defined Contribution Retirement Plan | Borad of Trustees, Airconditioning and Refrigeration | 3,309 | $228M | $68,974 |
| Bergelectric Corporation Money Purchase Pension Plan | Bergelectric Corporation | 2,751 | $138M | $50,221 |
| U. a. Local No. 393 Defined Contribution Plan | Board of Trustees of the U.A. Local No. 393 Defined Contribution Plan | 3,349 | $772M | $230,425 |
| Sacramento Area Electrical Workers Pension and Profit Sharing Plan | Board of Trustees, Sacramento Area Electrical Workers | 2,733 | $326M | $119,419 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is IBEW Local 595 Money Purchase Pension Plan?
3,223 participants at the end of the plan year ending 31 Dec 2024, of whom 1,599 were active employees, with net assets of $546,328,648. 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, IBEW Local 595 Money Purchase contribute per participant?
The filing reports $14,524,931 in employer contributions for the year, which is $9,084 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 $1,347,998 in compensation to service provider organisations, $418 per participant or 0.25% 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 $1,463,347. 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, IBEW Local 595 Money Purchase. Recordkeeping or administration: Benesys, Inc., Electrical Industry Service Corp. and Fidelity Inv Inst Operations Co. Inc.. Investment advisory or management: Dodge and Cox and Investment Performance Srvcs, 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 9 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 94-6125583, plan 002, received 9 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.