California › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
California Iron Workers Field Defined Contribution Pension Trust Fund
Sponsored by Board of Trustees, California Iron Workers Field Defined Contribution, Pasadena, 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.
California Iron Workers Field Defined Contribution Pension Trust Fund is a money purchase plan sponsored by Board of Trustees, California Iron Workers Field Defined Contribution of Pasadena, California. For the plan year ending 31 May 2025 it reported 27,522 participants, 13,077 of them active, and net assets of $1.29B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $46,999 per participant, well below the $62,774 median for defined contribution plans with 25,000 or more participants and below 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 $89.9M during the year, or $6,874 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $117M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $3.8M: $138 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $4.9M. 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 $523M in 2009 to $1.29B in 2024 (up 147%), and participants from 21,603 to 27,522 (up 27%).
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 | $46,999 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $6,874 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $138 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.29% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $179 | $38.81 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 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 | 27,522 | $1.29B | $46,999 | $89.9M | — | $3.8M |
| 2023 | 31,921 | $1.19B | $37,433 | $101M | — | $3.9M |
| 2022 | 32,413 | $1.01B | $31,130 | $82.3M | — | $3.1M |
| 2021 | 24,845 | $992M | $39,939 | $61.2M | — | $3.6M |
| 2020 | 25,074 | $1.10B | $43,985 | $63.0M | — | $3.6M |
| 2019 | 25,064 | $861M | $34,367 | $65.2M | — | $3.5M |
| 2018 | 24,388 | $803M | $32,919 | $50.8M | — | $3.3M |
| 2017 | 23,477 | $791M | $33,693 | $35.9M | — | $1.7M |
| 2016 | 22,811 | $734M | $32,164 | $28.2M | — | $684K |
| 2015 | 22,749 | $673M | $29,586 | $26.7M | — | $2.8M |
| 2014 | 22,080 | $708M | $32,044 | $32.7M | — | $2.5M |
| 2013 | 21,574 | $692M | $32,069 | $41.3M | — | $2.5M |
| 2012 | 21,556 | $622M | $28,849 | $44.3M | — | $1.8M |
| 2011 | 21,246 | $527M | $24,821 | $41.6M | — | $1.9M |
| 2010 | 20,907 | $558M | $26,700 | $33.7M | — | $1.9M |
| 2009 | 21,603 | $523M | $24,196 | $37.8M | — | $2.2M |
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$1,194,885,134
- Employer contributions$89,888,778
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$89,888,778
- Total income, including investment results$220,140,437
- Benefits paid$116,597,135
- Administrative expenses$4,921,338
- Total expenses$121,518,473
- Net income$98,621,964
- Net transfers$0
- Net assets, end of year$1,293,507,098
Participants
- Active participants13,077
- Retired or separated, receiving benefits120
- Retired or separated, entitled to future benefits13,386
- Participants with account balances23,943
- Total participants, end of year27,522
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Ironworkers Employee Benefit Corp. | Contract Administrator | $2,111,569 | $0 |
| The Vanguard Group | Recordkeeping and information management; Investment advisory (participants); Participant communication | $984,847 | $0 |
| Kraw Law Group, Apc | Legal | $128,456 | $0 |
| RVK, Inc. | Investment advisory (plan) | $106,564 | $0 |
| Logicalis, Inc. | Other services | $94,234 | $0 |
| Top Tier Resources Inc. | Consulting (general) | $72,063 | $0 |
| Wells Fargo Bank, N.A. | Trustee (bank, trust company, or similar financial institution) | $58,499 | $0 |
| Marsh McLennan Companies, Inc. | Insurance brokerage commissions and fees | $0 | $52,709 |
| Level 3 Financing, Inc. | Other services | $46,415 | $0 |
| Roth Staffing Companies, LP | Other services | $42,125 | $0 |
| Withumsmith+brown, PC | Accounting (including auditing) | $41,090 | $0 |
| Iron Mountain | Other services | $33,018 | $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
- Salaries and allowances$3,096,416
- Other administrative expenses$1,468,493
- Legal fees$132,601
- Investment advisory and management fees$101,440
- Trustee and custodial fees$58,499
- IQPA audit fees$42,838
- Other trustee fees and expenses$21,051
- Total administrative expenses$4,921,338
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$890M · 68.7%
- Registered investment companies (mutual funds)$392M · 30.3%
- Receivables$12.1M · 0.9%
- Other investments$50K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWithumsmith+brown, PC
- 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) plan2FERISA section 404(c) plan2GTotal participant-directed account plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pension Trust Fund for Operating Engineers Annuity Plan | Board of Trustees, Operating Engineers Annuity Plan | 28,957 | $654M | $22,590 |
| Operating Engineers Local 12 Defined Contribution Trust | Board of Trustees, Operating Engineers Local 12 | 23,643 | $518M | $21,907 |
| Southern California Ibew-Neca Defined Contribution Plan | Board of Trustees, Southern California Ibew-Neca | 29,361 | $1.28B | $43,617 |
| Southern California Pipe Trades Defined Contribution Plan | Southern California Pipe Trades Defined | 14,179 | $404M | $28,507 |
| Construction Laborers Annuity Plan for Southern California | Board of Trustees,construction Laborers Annuity Plan for Southern Cali | 51,834 | $272M | $5,254 |
| Bay Area Painters & Tapers Annuity Fund | Bay Area Painters & Tapers Annuity Fund | 12,666 | $542M | $42,830 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is California Iron Workers Field Defined Contribution Pension Trust Fund?
27,522 participants at the end of the plan year ending 31 May 2025, of whom 13,077 were active employees, with net assets of $1,293,507,098. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Board of Trustees, California Iron Workers Field Defined Contribution contribute per participant?
The filing reports $89,888,778 in employer contributions for the year, which is $6,874 per active participant; the median for plans of the same type and size was $2,417 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 $3,794,915 in compensation to service provider organisations, $138 per participant or 0.29% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $4,921,338. 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, California Iron Workers Field Defined Contribution. Recordkeeping or administration: Ironworkers Employee Benefit Corp. and The Vanguard Group. Investment advisory or management: The Vanguard Group and RVK, Inc.. Trustee or custodian: Wells Fargo Bank, N.A.. The financial statements were audited by Withumsmith+brown, PC. 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 11 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 95-3304279, plan 001, received 11 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.