California › Retail trade › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Smart & Final Pension Plan
Sponsored by Smart & Final Pension Plan, Commerce, 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.
Smart & Final Pension Plan of Commerce, California sponsors Smart & Final Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 3,875 participants (820 active) and $169M in net assets.
Net assets came to $43,555 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and well above the $30,870 median for defined benefit plans in retail trade. 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 $2.7M for the year ($3,293 per active participant) and benefits paid were $5.3M. 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 7 service provider organisations paid $5,000 or more, with reported compensation of $1.2M: $298 per participant, below the same-size median of $325. Administrative expenses charged to the plan were $2.2M. 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 $84.1M in 2009 to $169M in 2024 (up 101%), and participants from 5,131 to 3,875 (down 24%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $43,555 | $87,935 | $30,870 | $86,221 |
| Employer contributions per active participant | $3,293 | $10,593 | $2,829 | $10,244 |
| Schedule C compensation per participant | $298 | $325 | $165 | $344 |
| Schedule C compensation, share of net assets | 0.68% | 0.41% | 0.59% | 0.42% |
| Administrative expenses per participant | $574 | $513 | $310 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), retail trade (132) 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 | 3,875 | $169M | $43,555 | $2.7M | $0 | $1.2M |
| 2023 | 3,987 | $155M | $38,940 | $2.5M | $0 | $1.1M |
| 2022 | 3,999 | $137M | $34,267 | $8.2M | $0 | $923K |
| 2021 | 4,016 | $171M | $42,591 | $9.2M | — | $1.1M |
| 2020 | 4,056 | $148M | $36,400 | $2.6M | — | $1.1M |
| 2019 | 4,967 | $195M | $39,278 | $13.4M | — | $1.3M |
| 2018 | 4,971 | $159M | $31,970 | $2.1M | — | $1.1M |
| 2017 | 4,955 | $180M | $36,314 | $14.8M | — | $1.2M |
| 2016 | 4,986 | $150M | $30,083 | $10.5M | — | $866K |
| 2015 | 4,966 | $137M | $27,525 | $8.8M | — | $844K |
| 2014 | 4,947 | $136M | $27,556 | $8.7M | — | $877K |
| 2013 | 4,933 | $128M | $26,035 | $9.5M | — | $1.0M |
| 2012 | 4,936 | $105M | $21,322 | $7.7M | — | $747K |
| 2011 | 4,950 | $92.8M | $18,740 | $6.0M | — | $864K |
| 2010 | 4,989 | $90.3M | $18,094 | — | — | $787K |
| 2009 | 5,131 | $84.1M | $16,392 | $600K | — | $864K |
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$155,254,710
- Employer contributions$2,700,000
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$2,700,000
- Total income, including investment results$21,037,178
- Benefits paid$5,292,813
- Administrative expenses$2,224,169
- Total expenses$7,516,982
- Net income$13,520,196
- Net transfers$0
- Net assets, end of year$168,774,906
Participants
- Active participants820
- Retired or separated, receiving benefits499
- Retired or separated, entitled to future benefits2,457
- Total participants, end of year3,875
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Curcio Webb, LLC | Actuarial | $464,570 | $0 |
| BlackRock Investment Management LLC | Investment management | $234,964 | $0 |
| Earnest Partners, LLC | Investment management; Securities brokerage | $170,634 | $0 |
| Principal Bank | Accounting (including auditing); Custodial (securities); Trustee (bank, trust company, or similar financial institution); Trustee (directed); Other services | $118,855 | $0 |
| Cove Street Capital, LLC | Investment management | $87,554 | $0 |
| Metropolitan West Asset MGMT, LLC | Investment management | $62,640 | $0 |
| Baker Tilly, US LLP | Accounting (including auditing) | $14,250 | $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
- Actuarial fees$1,610,826
- Investment advisory and management fees$555,793
- Other administrative expenses$57,550
- Total administrative expenses$2,224,169
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.
- Registered investment companies (mutual funds)$84.2M · 49.8%
- Corporate stocks$60.2M · 35.7%
- U.S. Government securities$11.4M · 6.7%
- Corporate debt instruments$5.6M · 3.3%
- Cash (interest and non-interest bearing)$5.0M · 3.0%
- Receivables$1.8M · 1.0%
- Other investments$744K · 0.4%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBaker Tilly US, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
1ABenefits are primarily pay related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 445110: Supermarkets and Other Grocery (except Convenience) Stores.
Other plans of Smart & Final Pension Plan
| Plan | Participants | Net assets |
|---|---|---|
| Smart & Final 401(k) Savings Plan | 16,798 | $387M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Bashas' Employees Defined Benefit Pension Plan and Trust | Raley's Arizona LLC | 4,265 | $127M | $29,888 |
| Raley's Pension Plan | Raley's | 2,834 | $315M | $111,227 |
| UFCW Pharmacists, Clerks, and Drug Employer's Pension Trust | UFCW Pharmacists, Clerks, and Drug Employer's Pension Trust | 10,074 | $183M | $18,206 |
| Southern California General Sales Employers and United Food and Commercial Workers Unions Pension Fund | Board of Trustees, Southern California General Sales Employers | 2,173 | $84.9M | $39,085 |
| Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund | Board of Trustees, Southern California United Food | 26,295 | $926M | $35,223 |
| Raley's Group Pension Plan | Raley's | 1,887 | $102M | $53,943 |
Defined benefit plans in retail trade closest in size.
Questions and answers
How big is Smart & Final Pension Plan?
3,875 participants at the end of the plan year ending 31 Dec 2024, of whom 820 were active employees, with net assets of $168,774,906. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Smart & Final Pension Plan contribute per participant?
The filing reports $2,700,000 in employer contributions for the year, which is $3,293 per active participant; the median for plans of the same type and size was $10,593 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 $1,153,467 in compensation to service provider organisations, $298 per participant or 0.68% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $2,224,169. 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 Smart & Final Pension Plan. Investment advisory or management: BlackRock Investment Management LLC, Earnest Partners, LLC and Cove Street Capital, LLC. Trustee or custodian: Principal Bank. The financial statements were audited by Baker Tilly US, 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 95-4079584, plan 002, 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.