Bd of Tees of Steamfitters Lu No 420 SrpProfit-sharing plan
STEAMFITTERS LOCAL UNION NO. 420 SRP · PHILADELPHIA, PA · plan year 2024
Reported admin expense ratio · 2024
0.30%
Peer grade: B· admin costs + employer contributions vs same-size plans · how grading works
Bd of Tees of Steamfitters Lu No 420 Srp reported $2,122,891 in plan administrative expenses for 2024: 0.30% of average plan assets, higher than ~90% of peers. Employer contributions averaged $8,358 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.28% to 0.30%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other construction employers. By assets it is the 111th-largest of 3,651 plans among Pennsylvania employers on file, and the 87th of 5,337 in construction.
Plan summary
Net assets, end of year$727,454,220
Participants with balances5,880
Active participants6,827
Employer contributions$57,059,543
Employee contributions—
Employer contribution per active participant$8,358
Average account balance$123,717
Benefits paid to participants$71,007,851
Plan auditUnmodified (clean) audit opinion
AuditorDANIEL A. WINTERS & COMPANY
Plan history3
Yearassets · accounts · employer contribution
2024$727.5M · 5,880 accts · $57.1M emplr
2023$670.8M · 6,237 accts · $59.6M emplr
2022$586.4M · 6,021 accts · $54.4M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$147,684
Investment management$1,022,049
Audit (IQPA)$46,321
Total administrative$2,122,891
Employer contributions to the Bd of Tees of Steamfitters Lu No 420 Srp plan · 2024
Employer contribution per active participant$8,358
Median for plans this size$4,294
2024$8,358 per active participant
2023$8,872 per active participant
2022$8,642 per active participant
Bd of Tees of Steamfitters Lu No 420 Srp's 2024 employer contribution ran above the $4,294 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
What these fees cost you
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Source: U.S. Department of Labor, Form 5500 series, EIN 232495379 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.