PIPEFITTERS LOCAL UNION NO. 537 DEFERRED INCOME ANNUITY FUND INDIVIDUAL ACCOUNT PLAN · DORCHESTER, MA · plan year 2024
Reported admin expense ratio · 2024
0.43%
Peer grade: B· admin costs + employer contributions vs same-size plans · how grading works
Pipefitters Local Union NO.537 reported $3,249,191 in plan administrative expenses for 2024: 0.43% of average plan assets, higher than ~90% of peers. Employer contributions averaged $12,310 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 0.41% to 0.43%. 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 76th-largest of 2,726 plans among Massachusetts employers on file, and the 81st of 5,337 in construction.
Plan summary
Net assets, end of year$775,880,954
Participants with balances3,374
Active participants3,374
Employer contributions$41,532,978
Employee contributions—
Employer contribution per active participant$12,310
Average account balance$229,959
Benefits paid to participants$41,045,499
Plan auditUnmodified (clean) audit opinion
AuditorMANZI & ASSOCIATES
Plan history3
Yearassets · accounts · employer contribution
2024$775.9M · 3,374 accts · $41.5M emplr
2023$725.5M · 3,331 accts · $39.3M emplr
2022$655.5M · 3,231 accts · $36.7M emplr
Administrative expenses, itemized · 2024
Investment management$2,781,999
Audit (IQPA)$46,301
Total administrative$3,249,191
Employer contributions to the Pipefitters Local Union NO.537 plan · 2024
Employer contribution per active participant$12,310
Median for plans this size$4,294
2024$12,310 per active participant
2023$11,785 per active participant
2022$11,370 per active participant
Pipefitters Local Union NO.537'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.
Service providers · 202412
BOSTON TRUST WALDEN · Investment management$1,164,583
NATIONAL INVESTMENT SERVICES · Investment management$550,098
Source: U.S. Department of Labor, Form 5500 series, EIN 042760802 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.