California › Transportation and warehousing › 250 to 499 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Ilwu-Pma Watchmen Pension Plan
Sponsored by Trustees of Ilwu-Pma Watchmen Pension Plan, San Francisco, 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.
In the plan year ending 30 Jun 2025, Ilwu-Pma Watchmen Pension Plan covered 445 participants and held $106M in net assets. The plan is a defined benefit pension plan sponsored by Trustees of Ilwu-Pma Watchmen Pension Plan of San Francisco, California. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $239,190 per participant, well above the $87,254 median for defined benefit plans with 250 to 499 participants and well above the $94,853 median for defined benefit plans in transportation and warehousing. 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 $5.7M for the year ($20,215 per active participant) and benefits paid were $4.4M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $478K: $1,075 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $563K. 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 $19.5M in 2009 to $106M in 2024 (up 446%), and participants from 363 to 445 (up 23%).
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 | $239,190 | $87,254 | $94,853 | $86,221 |
| Employer contributions per active participant | $20,215 | $11,032 | $12,821 | $10,244 |
| Schedule C compensation per participant | $1,075 | $413 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.45% | 0.51% | 0.43% | 0.42% |
| Administrative expenses per participant | $1,265 | $596 | $650 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 participants (873 plans), transportation and warehousing (227) 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 | 445 | $106M | $239,191 | $5.7M | — | $478K |
| 2023 | 429 | $94.4M | $220,156 | $5.9M | — | $396K |
| 2022 | 435 | $84.0M | $193,057 | $5.7M | — | $285K |
| 2021 | 435 | $78.0M | $179,384 | $4.7M | — | $288K |
| 2020 | 453 | $82.3M | $181,762 | $4.8M | — | $259K |
| 2019 | 452 | $64.5M | $142,675 | $4.2M | — | $292K |
| 2018 | 424 | $62.0M | $146,165 | $4.2M | — | $253K |
| 2017 | 434 | $58.0M | $133,657 | $4.1M | — | $246K |
| 2016 | 427 | $52.3M | $122,511 | $3.9M | — | $247K |
| 2015 | 412 | $44.9M | $108,995 | $3.8M | — | $282K |
| 2014 | 417 | $42.7M | $102,441 | $3.7M | — | $233K |
| 2013 | 404 | $38.9M | $96,319 | $4.7M | — | $246K |
| 2012 | 410 | $30.9M | $75,366 | $3.3M | — | $250K |
| 2011 | 373 | $26.1M | $69,914 | $2.8M | — | $228K |
| 2010 | 359 | $24.6M | $68,526 | $2.4M | — | $196K |
| 2009 | 363 | $19.5M | $53,711 | $2.3M | — | $198K |
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$94,447,385
- Employer contributions$5,720,902
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$5,720,902
- Total income, including investment results$16,946,920
- Benefits paid$4,391,927
- Administrative expenses$562,856
- Total expenses$4,954,783
- Net income$11,992,137
- Net transfers$0
- Net assets, end of year$106,439,522
Participants
- Active participants283
- Retired or separated, receiving benefits95
- Retired or separated, entitled to future benefits24
- Total participants, end of year445
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Bush Gottlieb, a Law Corporation | Legal | $130,902 | $0 |
| Seyfarth Shaw LLP | Legal | $76,130 | $0 |
| Alan D. Biller & Associates | Investment advisory (plan) | $65,320 | $0 |
| PWC LLP | Accounting (including auditing) | $51,014 | $0 |
| The Segal Company | Actuarial | $43,361 | $0 |
| Ilwu-Pma Benefit Plans (Salaries) | Claims processing; Recordkeeping and information management; Contract Administrator; Plan Administrator | $34,460 | $0 |
| UBS Realty Investors LLC | Investment management fees paid directly by plan | $26,048 | $0 |
| BlackRock Institutional Trust Co. NA | Investment management fees paid directly by plan | $17,654 | $0 |
| PWC US Tax LLP | Consulting fees | $10,198 | $0 |
| Pacific Maritime Association | Accounting (including auditing) | $9,063 | $0 |
| US Bank | Other fees | $8,412 | $0 |
| Western Asset Management Co. LLC | Investment management fees paid directly by plan | $5,794 | $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
- Legal fees$207,040
- Investment advisory and management fees$114,816
- Other administrative expenses$79,817
- Salaries and allowances$71,757
- IQPA audit fees$51,014
- Actuarial fees$30,000
- Trustee and custodial fees$8,412
- Total administrative expenses$562,856
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$73.8M · 69.2%
- Registered investment companies (mutual funds)$18.5M · 17.3%
- Real estate$14.4M · 13.5%
- Cash (interest and non-interest bearing)$41K · 0.0%
- Buildings and other property used in plan operation$11K · 0.0%
- Other investments$795 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmPricewaterhouseCoopers LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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 488300: Support Activities for Water Transportation.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Southwest Marine Pension Trust | Board of Trustees, Southwest Marine Pension Trust | 467 | $46.5M | $99,544 |
| AAA Arizona, Inc. Cash Balance Plan and Trust | AAA Arizona, Inc. | 390 | $17.0M | $43,696 |
| Employers' - Warehousemen's Pension Trust Fund | Board of Trustees, Employers' - Warehousemen's | 1,733 | $88.2M | $50,892 |
| Jal Pension Plan for Employees in the U.S.A. | Japan Airlines Co., Ltd. | 207 | $44.8M | $216,286 |
| Retirement Plan for Employees of Matson | Matson, Inc. | 1,859 | $242M | $130,328 |
| Nautilus International Holding Corporation Pension Plan | Nautilus International Holding Corp. | 174 | $31.1M | $178,751 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Ilwu-Pma Watchmen Pension Plan?
445 participants at the end of the plan year ending 30 Jun 2025, of whom 283 were active employees, with net assets of $106,439,522. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Trustees of Ilwu-Pma Watchmen Pension Plan contribute per participant?
The filing reports $5,720,902 in employer contributions for the year, which is $20,215 per active participant; the median for plans of the same type and size was $11,032 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 $478,356 in compensation to service provider organisations, $1,075 per participant or 0.45% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $562,856. 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 Trustees of Ilwu-Pma Watchmen Pension Plan. Recordkeeping or administration: Ilwu-Pma Benefit Plans (Salaries). Investment advisory or management: Alan D. Biller & Associates. The financial statements were audited by PricewaterhouseCoopers 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 14 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 94-6173372, plan 001, received 14 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.