California › Transportation and warehousing › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Retirement Plan for Employees of Matson
Sponsored by Matson, Inc., Walnut Creek, 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 31 Dec 2024, Retirement Plan for Employees of Matson covered 1,859 participants and held $242M in net assets. The plan is a cash balance pension plan sponsored by Matson, Inc. of Walnut Creek, California.
Net assets came to $130,328 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 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 $2.3M for the year ($2,988 per active participant) and benefits paid were $13.2M. 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 11 service provider organisations paid $5,000 or more, with reported compensation of $962K: $518 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.7M. 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 $133M in 2011 to $242M in 2024 (up 82%), and participants from 1,712 to 1,859 (up 9%).
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 | $130,328 | $87,935 | $94,853 | $86,221 |
| Employer contributions per active participant | $2,988 | $10,593 | $12,821 | $10,244 |
| Schedule C compensation per participant | $518 | $325 | $425 | $344 |
| Schedule C compensation, share of net assets | 0.40% | 0.41% | 0.43% | 0.42% |
| Administrative expenses per participant | $924 | $513 | $650 | $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), 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 | 1,859 | $242M | $130,328 | $2.3M | — | $962K |
| 2023 | 1,838 | $231M | $125,831 | $3.4M | — | $943K |
| 2022 | 1,765 | $215M | $122,020 | $9.0M | — | $0 |
| 2021 | 1,731 | $245M | $141,752 | $9.0M | — | $0 |
| 2020 | 1,728 | $219M | $126,755 | $9.0M | — | $0 |
| 2019 | 1,713 | $201M | $117,497 | $12.9M | — | $0 |
| 2018 | 1,689 | $166M | $98,272 | $6.0M | — | $0 |
| 2017 | 1,673 | $184M | $110,049 | $0 | — | $0 |
| 2016 | 1,808 | $179M | $99,043 | $3.0M | — | $0 |
| 2015 | 1,754 | $174M | $99,011 | $7.5M | — | $0 |
| 2014 | 1,686 | $180M | $107,001 | $6.4M | — | $0 |
| 2011 | 1,712 | $133M | $77,706 | $13.4M | — | $0 |
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$231,277,461
- Employer contributions$2,250,000
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,250,000
- Total income, including investment results$25,875,111
- Benefits paid$13,154,257
- Administrative expenses$1,718,033
- Total expenses$14,872,290
- Net income$11,002,821
- Net transfers$0
- Net assets, end of year$242,280,282
Participants
- Active participants753
- Retired or separated, receiving benefits669
- Retired or separated, entitled to future benefits286
- Total participants, end of year1,859
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| The London Company | Investment management fees paid directly by plan | $192,784 | $0 |
| Anchor Capital | Investment management fees paid directly by plan | $172,155 | $0 |
| Morgan Stanley | Investment advisory (plan) | $161,207 | $0 |
| Cambria Investors, LLC | Investment management fees paid directly by plan | $118,844 | $0 |
| Allspring Global Investment, LLC | Investment management fees paid directly by plan | $113,561 | $0 |
| Oakhurst Capital Management, LLC | Investment management | $84,733 | $0 |
| Boyd Watterson Asset Management | Investment management | $48,977 | $0 |
| Scharf Investments, LLC | Investment management | $43,938 | $0 |
| J.P. Morgan Investment Manager | Investment management; Investment advisory (plan) | $25,902 | $0 |
| Prudential Insurance Company of Ame | Investment management fees paid directly by plan | $0 | $0 |
| Wells Fargo/capital | Investment management fees paid directly by plan | $0 | $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$962,101
- Other administrative expenses$469,447
- Trustee and custodial fees$237,157
- Other trustee fees and expenses$49,328
- Total administrative expenses$1,718,033
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.
- Corporate stocks$141M · 58.2%
- Common/collective trusts$34.1M · 14.1%
- Corporate debt instruments$25.1M · 10.4%
- U.S. Government securities$20.0M · 8.2%
- Pooled separate accounts$8.5M · 3.5%
- Other investments$7.3M · 3.0%
- Cash (interest and non-interest bearing)$4.3M · 1.8%
- Receivables$1.9M · 0.8%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmPbmares
- 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
1ABenefits are primarily pay related1CCash balance or similar plan3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 483000: Water Transportation.
Other plans of Matson, Inc.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Siu Pacific District Pension Plan | Board of Trustees, Siu Pacific District Pension Plan | 2,049 | $119M | $57,885 |
| Employers' - Warehousemen's Pension Trust Fund | Board of Trustees, Employers' - Warehousemen's | 1,733 | $88.2M | $50,892 |
| Distributors Association Warehousemen's Pension Trust | Industrial Employers & Distributors Association | 2,883 | $96.6M | $33,509 |
| Southwest Marine Pension Trust | Board of Trustees, Southwest Marine Pension Trust | 467 | $46.5M | $99,544 |
| Western Conference of Teamsters Supp Benefit Plan | Board of Trustees, Western Conference of Teamsters | 13,908 | $74.4M | $5,352 |
| Ilwu-Pma Watchmen Pension Plan | Trustees of Ilwu-Pma Watchmen Pension Plan | 445 | $106M | $239,190 |
Defined benefit plans in transportation and warehousing closest in size.
Questions and answers
How big is Retirement Plan for Employees of Matson?
1,859 participants at the end of the plan year ending 31 Dec 2024, of whom 753 were active employees, with net assets of $242,280,282. 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 Matson, Inc. contribute per participant?
The filing reports $2,250,000 in employer contributions for the year, which is $2,988 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 $962,101 in compensation to service provider organisations, $518 per participant or 0.40% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,718,033. 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 Matson, Inc.. Investment advisory or management: Morgan Stanley, Oakhurst Capital Management, LLC and Boyd Watterson Asset Management. The financial statements were audited by Pbmares. 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 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 99-0032630, plan 014, 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.