California › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Western States Carpenters Pension Plan
Sponsored by Joint Board of Trustees Western States Carpenters Pension Plan, Los Angeles, 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.
Western States Carpenters Pension Plan is a defined benefit pension plan sponsored by Joint Board of Trustees Western States Carpenters Pension Plan of Los Angeles, California. For the plan year ending 31 Dec 2024 it reported 139,574 participants, 69,363 of them active, and net assets of $11.3B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $81,223 per participant, below the $88,040 median for defined benefit plans with 25,000 or more participants and below the $100,593 median for defined benefit 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.
Employer contributions were $419M for the year ($6,040 per active participant) and benefits paid were $390M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $15.2M: $109 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $20.1M. 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 $2.66B in 2009 to $11.3B in 2024 (up 327%), and participants from 64,599 to 139,574 (up 116%).
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 | $81,223 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $6,040 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $109 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.13% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $144 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), construction (655) 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 | 139,574 | $11.3B | $81,223 | $419M | — | $15.2M |
| 2023 | 98,625 | $6.82B | $69,200 | $304M | — | $13.5M |
| 2022 | 96,339 | $6.06B | $62,917 | $264M | — | $11.5M |
| 2021 | 74,436 | $6.68B | $89,697 | $241M | — | $10.2M |
| 2020 | 71,570 | $5.80B | $81,059 | $242M | — | $9.8M |
| 2019 | 67,166 | $4.88B | $72,674 | $241M | — | $9.8M |
| 2018 | 64,958 | $4.14B | $63,678 | $216M | — | $9.8M |
| 2017 | 63,243 | $4.25B | $67,139 | $198M | — | $9.3M |
| 2016 | 60,611 | $3.81B | $62,794 | $175M | — | $8.4M |
| 2015 | 61,179 | $3.56B | $58,177 | $153M | — | $7.6M |
| 2014 | 60,922 | $3.61B | $59,320 | $136M | — | $7.8M |
| 2013 | 60,946 | $3.42B | $56,191 | $135M | — | $7.9M |
| 2012 | 59,645 | $3.01B | $50,389 | $84.7M | — | $6.7M |
| 2011 | 60,295 | $2.83B | $46,879 | $76.7M | — | $7.0M |
| 2010 | 62,309 | $2.90B | $46,570 | $123M | — | $7.8M |
| 2009 | 64,599 | $2.66B | $41,103 | $126M | — | $9.1M |
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$6,824,831,603
- Employer contributions$418,921,558
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$418,921,558
- Total income, including investment results$1,336,778,711
- Benefits paid$390,255,862
- Administrative expenses$20,064,480
- Total expenses$410,320,342
- Net income$926,458,369
- Net transfers$3,585,317,299
- Net assets, end of year$11,336,607,271
Participants
- Active participants69,363
- Retired or separated, receiving benefits33,706
- Retired or separated, entitled to future benefits29,307
- Total participants, end of year139,574
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Carpenters Southwest Admin Corp. | Contract Administrator | $6,991,036 | $0 |
| Washington Capital | Investment management | $2,171,358 | $0 |
| Shanley Apc | Legal | $1,304,839 | $0 |
| Alan D. Biller & Associates | Investment advisory (plan); Investment management | $972,500 | $0 |
| Cheiron, Inc. | Actuarial | $882,223 | $0 |
| Nossaman LLP | Legal | $617,196 | $0 |
| Dodge & Cox | Investment management | $419,084 | $0 |
| US Bank | Custodial (securities) | $390,978 | $0 |
| JPMorgan Chase Bank, National Assoc | Investment management; Investment advisory (plan); Trustee (discretionary) | $352,462 | $0 |
| Calibre CPA Group, PLLC | Accounting (including auditing) | $261,620 | $0 |
| Invesco Trust Company | Investment management | $213,399 | $0 |
| Bridgeway Benefit Technologies | Other services | $211,786 | $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
- Contract administrator fees$6,872,543
- Other administrative expenses$5,358,040
- Investment advisory and management fees$4,350,945
- Legal fees$1,948,131
- Actuarial fees$882,223
- Trustee and custodial fees$390,978
- IQPA audit fees$261,620
- Total administrative expenses$20,064,480
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$6.23B · 54.9%
- Partnership/joint venture interests$2.64B · 23.3%
- Other investments$480M · 4.2%
- Cash (interest and non-interest bearing)$369M · 3.3%
- Real estate$315M · 2.8%
- U.S. Government securities$307M · 2.7%
- Registered investment companies (mutual funds)$286M · 2.5%
- Receivables$267M · 2.4%
- 103-12 investment entities$251M · 2.2%
- Corporate debt instruments$198M · 1.7%
- Buildings and other property used in plan operation$3.2M · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- 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
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 238100: Foundation, Structure, & Building Exterior Contractors (including framing carpentry, masonry, glass, roofing, & siding).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Carpenters Pension Trust Fund for Northern California | Carpenters Pension Trust Fund | 50,394 | $6.58B | $130,475 |
| Pension Trust Fund for Operating Engineers | Board of Trustees, Pension Trust Fund for Operating | 45,574 | $5.40B | $118,390 |
| Laborers Pension Trust Fund for Northern California | Board of Trustees Laborers Pension Trust Fund for Northern California | 44,826 | $5.45B | $121,670 |
| Construction Laborers Pension Trust Fund for Southern California | Board of Trustees,construction Laborers Pension Trust for Southern Cal | 42,443 | $3.67B | $86,550 |
| Operating Engineers Pension Trust | Board of Trustees, Operating Engineers Pension Trust | 40,018 | $3.65B | $91,257 |
| California Ironworkers Field Pension Trust | Board of Trustees, California Ironworkers Field Pension Trust Fun | 21,447 | $3.49B | $162,580 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Western States Carpenters Pension Plan?
139,574 participants at the end of the plan year ending 31 Dec 2024, of whom 69,363 were active employees, with net assets of $11,336,607,271. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Joint Board of Trustees Western States Carpenters Pension Plan contribute per participant?
The filing reports $418,921,558 in employer contributions for the year, which is $6,040 per active participant; the median for plans of the same type and size was $6,524 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 $15,171,104 in compensation to service provider organisations, $109 per participant or 0.13% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $20,064,480. 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 Joint Board of Trustees Western States Carpenters Pension Plan. Recordkeeping or administration: Carpenters Southwest Admin Corp.. Investment advisory or management: Washington Capital, Alan D. Biller & Associates and Dodge & Cox. Trustee or custodian: US Bank and JPMorgan Chase Bank, National Assoc. The financial statements were audited by Calibre CPA Group, PLLC. 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 14 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 95-6042875, plan 001, received 14 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.