Defined Benefit (Pension) · DOL Form 5500 · 2022

Trustees of the Iron Workers Local 498 Defined Benefit Plan Pension Plan

Data updated 2026-08-25

$28M
Total assets Below avg plan size
146
Participants Small participant base
82nd
Percentile by assets National rank
$190,067
Avg per participant Above avg balance/head
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Official DOL plan name: Iron Workers Local 498 Defined Benefit Plan · Sponsored by Trustees of the Iron Workers Local 498 Defined Benefit Plan · Illinois · Construction

$28M in assets, 146 participants

Trustees of the Iron Workers Local 498 Defined Benefit Plan's Iron Workers Local 498 Defined Benefit Plan reported $28M in total assets and 146 participants in its 2022 DOL Form 5500 filing, ranking in the 82nd percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,036 in Construction (9,927 peers)

Coverage in Illinois

Iron Workers Local 498 Defined Benefit Plan covers 146 participants in Illinois, about 19% of the average Illinois filer (state average ~779 per filing). Assets: $28M.

#8,036
in Construction (9,927 peers)
-17.3%
assets change YoY
0.3×
vs typical plan assets (national mean)

The plan reported a net loss of $6M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Iron Workers Local 498 Defined Benefit Plan's outsized position by total assets

Iron Workers Local 498 Defined Benefit Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$27,749,727 Top 18% higher than 82% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Iron Workers Local 498 Defined Benefit Plan among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Iron Workers Local 498 Defined Benefit Plan sits mid-pack in the medium band (146 participants).

Published 5500 schedule card

Filing strip 363119818 · Trustees of the Iron Workers Local 498 Defined Benefit Plan PY 2022 · Defined Benefit (Pension)

Iron Workers Local 498 Defined Benefit Plan · $28M · 146 · 82nd

  • IND $28M
  • IND 146
  • IND 82nd
  • IND Defined Benefit (Pension)
  • IND near Sheet Metal Workers Local #20 South Bend Area Pension Fund
  • IND ind #8036

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Construction retirement plans → · Plans in Illinois →

Iron Workers Local 498 Defined Benefit Plan in the asset neighbourhood

Banco Popular De Pr Tax Qualified Ret. Restoration PlanBanco Popular De Pr Tax Qual…$28MTeamsters Joint Council No. 73 Pension & Trust FundTeamsters Joint Council No. …$28MIron Workers Local 498 Defined Benefit PlanIron Workers Local 498 Defin…$28MSheet Metal Workers Local #20 South Bend Area Pension FundSheet Metal Workers Local #2…$28MLocal 400 Food Terminal Employees' Pension PlanLocal 400 Food Terminal Empl…$28M
End-of-year total assets ($M) among Iron Workers Local 498 Defined Benefit Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2022.

Illinois filing particulars

Total Assets (Beginning of Year)$34M
Net Assets (End of Year)$28M
Net Income-$6M
Employer EIN363119818
Plan Effective Date1977-06-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Trustees of the Iron Workers Local 498 Defined Benefit Plan)

Sponsor-wide plan assets over time

All Trustees of the Iron Workers Local 498 Defined Benefit Plan plans reported in each filing year

Latest sponsor-wide plan assets
$34M 23.54649110602061% vs 2022
2024 filing year
$26M$28M$30M$32M$34M$36M 202220232024 $27.8M $34.3M ▲ +23.5%
Year Plans Participants Total Assets
2022 1 146 $28M
2023 1 151 $30M
2024 1 173 $34M

Nearby Defined Benefit (Pension) Plans in Illinois

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Iron Workers Local 498 Defined Benefit Plan vs. nearby Defined Benefit (Pension) plans in Illinois, assets vs. participants Scatter plot of 6 data points. -200000200004000060000 -1001020304050 Total assets ($B) Participants Iron Workers Local 498 Defined Benefit Plan, Total assets ($B): 0.027749727 · Participants: 146Iron Workers Local 498 Defined Benefit PlanCentral States, Southeast & Southwest Areas Pension Plan, Total assets ($B): 42.629770802 · Participants: 50096Central States, Southeast & Southwest Areas Pension PlanState Farm Insurance Companies Retirement Plan for United States Employees, Total assets ($B): 32.129102809 · Participants: 49052State Farm Insurance Companies Retirement Plan for United States EmployeesUnited Food & Commercial Workers Intl Union - Industry Pension Fund, Total assets ($B): 7.958716532 · Participants: 20170United Food & Commercial Workers Intl Union - Industry Pension FundJohn Deere Pension Plan for Salaried Employees, Total assets ($B): 7.304502684 · Participants: 0John Deere Pension Plan for Salaried EmployeesAbbott Laboratories Annuity Retirement Plan, Total assets ($B): 6.770339506 · Participants: 16809Abbott Laboratories Annuity Retirement Plan
Iron Workers Local 498 Defined Benefit Plan vs. nearby Defined Benefit (Pension) plans in Illinois, assets vs. participants
Compare Iron Workers Local 498 Defined Benefit Plan side-by-side with 3 peers →

Iron Workers Local 498 Defined Benefit Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Illinois, the nearest Defined Benefit (Pension) by assets is Sheet Metal Workers Local #20 South Bend Area Pension Fund in IN ($28M); by covered participants it is Beachfleischman PLLC Employees' Cash Balance Plan in AZ (146 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (146 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Iron Workers Local 498 Defined Benefit Plan assets move in 2022? ▼
Iron Workers Local 498 Defined Benefit Plan declined sharply - down 17.3% during 2022, from $34M to $28M. Reported net income was -$6M.
How have Trustees of the Iron Workers Local 498 Defined Benefit Plan plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Trustees of the Iron Workers Local 498 Defined Benefit Plan's sponsor-wide assets grew 23.5%, from $28M to $34M.
Where does Iron Workers Local 498 Defined Benefit Plan rank by assets among Form 5500 filers? ▼
Iron Workers Local 498 Defined Benefit Plan ranks in the 82nd percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top quartile of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Iron Workers Local 498 Defined Benefit Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Sheet Metal Workers Local #20 South Bend Area Pension Fund in IN ($28M, 179 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Iron Workers Local 498 Defined Benefit Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Beachfleischman PLLC Employees' Cash Balance Plan in AZ (146 participants, $9M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 363119818.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.