Defined Benefit (Pension) · DOL Form 5500 · 2023

Shopmen Iron Workers Local 502 Board of Trustees Pension Fund Pension Plan

Data updated 2026-08-25

$73M
Total assets Below avg plan size
220
Participants Below avg headcount
89th
Percentile by assets National rank
$331,506
Avg per participant High balance/head
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Official DOL plan name: Shopmen Local Union 502 Pension Plan · Sponsored by Shopmen Iron Workers Local 502 Board of Trustees Pension Fund · Pennsylvania · Manufacturing

$73M in assets, 220 participants

Shopmen Iron Workers Local 502 Board of Trustees Pension Fund's Shopmen Local Union 502 Pension Plan reported $73M in total assets and 220 participants in its 2023 DOL Form 5500 filing, ranking in the 89th 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.

  • #15,655 in Manufacturing (18,722 peers)

Coverage in Pennsylvania

Shopmen Local Union 502 Pension Plan covers 220 participants in Pennsylvania, about 27% of the average Pennsylvania filer (state average ~822 per filing). Assets: $73M.

#15,655
in Manufacturing (18,722 peers)
+8.1%
assets growth YoY
0.7×
vs typical plan assets (national mean)

Shopmen Local Union 502 Pension Plan's outsized position by total assets

Shopmen Local Union 502 Pension Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$72,931,263 Top 11% higher than 89% of 127,068 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 2023

Shopmen Local Union 502 Pension Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Shopmen Local Union 502 Pension Plan sits mid-pack in the medium band (220 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Shopmen Local Union 502 Pension Plan reported net income rose from -$17M in the plan year 2022 filing to $5M in the plan year 2023 filing.
  • Shopmen Local Union 502 Pension Plan end-of-year assets rose from $67M in the plan year 2022 filing to $73M in the plan year 2023 filing.
  • Shopmen Local Union 502 Pension Plan reported participants fell from 236 in the plan year 2022 filing to 220 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 236529457 · Shopmen Iron Workers Local 502 Board of Trustees Pension Fund PY 2023 · Defined Benefit (Pension)

Shopmen Local Union 502 Pension Plan · $73M · 220 · 89th

  • NET $73M
  • BOOK 220
  • VS-ST 89th
  • BOY Defined Benefit (Pension)
  • SCH near Gerdau Macsteel Pension Plan for Bargaining Employees
  • EBSA ind #15655

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 Manufacturing retirement plans → · Plans in Pennsylvania →

Shopmen Local Union 502 Pension Plan in the asset neighbourhood

Potlatch No 1 Financial Credit Union Cash Balance Defined Benefit Plan and TrustPotlatch No 1 Financial Cred…$73MShopmen Local Union 502 Pension PlanShopmen Local Union 502 Pens…$73MGerdau Macsteel Pension Plan for Bargaining EmployeesGerdau Macsteel Pension Plan…$73MFlint Hills Resources Pension PlanFlint Hills Resources Pensio…$73MBakery, Confectionery, Tobacco Workers and Grain Millers International Union Employees' Pension PlanBakery, Confectionery, Tobac…$73M
End-of-year total assets ($M) among Shopmen Local Union 502 Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Pennsylvania filing particulars

Total Assets (Beginning of Year)$67M
Net Assets (End of Year)$73M
Net Income$5M
Employer EIN236529457
Plan Effective Date1962-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Shopmen Iron Workers Local 502 Board of Trustees Pension Fund)

Sponsor-wide plan assets over time

All Shopmen Iron Workers Local 502 Board of Trustees Pension Fund plans reported in each filing year

Latest sponsor-wide plan assets
$75M 11.480577296389736% vs 2022
2024 filing year
$65M$70M$75M$80M 202220232024 $67.5M $75.2M ▲ +11.5%
Year Plans Participants Total Assets
2022 1 236 $67M
2023 1 220 $73M
2024 1 206 $75M

Nearby Defined Benefit (Pension) Plans in Pennsylvania

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

Shopmen Local Union 502 Pension Plan vs. nearby Defined Benefit (Pension) plans in Pennsylvania, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -5051015 Total assets ($B) Participants Shopmen Local Union 502 Pension Plan, Total assets ($B): 0.072931263 · Participants: 220Shopmen Local Union 502 Pension PlanNational Elevator Industry Pension Plan, Total assets ($B): 11.224377797 · Participants: 27434National Elevator Industry Pension PlanSteelworkers Pension Trust, Total assets ($B): 6.602912146 · Participants: 47052Steelworkers Pension TrustThe PNC Financial Services Group, Inc. Pension Plan, Total assets ($B): 5.63715 · Participants: 63680The PNC Financial Services Group, Inc. Pension PlanConstellation Retirement Program, Total assets ($B): 5.323012123 · Participants: 5080Constellation Retirement ProgramThe Bank of New York Mellon Corporation Pension Plan, Total assets ($B): 5.257223708 · Participants: 7374The Bank of New York Mellon Corporation Pension Plan
Shopmen Local Union 502 Pension Plan vs. nearby Defined Benefit (Pension) plans in Pennsylvania, assets vs. participants
Compare Shopmen Local Union 502 Pension Plan side-by-side with 3 peers →

Shopmen Local Union 502 Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Pennsylvania, the nearest Defined Benefit (Pension) by assets is Gerdau Macsteel Pension Plan for Bargaining Employees in FL ($73M); by covered participants it is Franklin Electric Co., Inc. Pension Plan in IN (220 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (220 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Shopmen Local Union 502 Pension Plan assets move in 2023? ▼
Shopmen Local Union 502 Pension Plan grew at a solid clip - up 8.1% during 2023, from $67M to $73M. Reported net income was $5M.
How have Shopmen Iron Workers Local 502 Board of Trustees Pension Fund plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Shopmen Iron Workers Local 502 Board of Trustees Pension Fund's sponsor-wide assets grew 11.5%, from $67M to $75M.
Where does Shopmen Local Union 502 Pension Plan rank by assets among Form 5500 filers? ▼
Shopmen Local Union 502 Pension Plan ranks in the 89th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to Shopmen Local Union 502 Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Gerdau Macsteel Pension Plan for Bargaining Employees in FL ($73M, 552 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Shopmen Local Union 502 Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Franklin Electric Co., Inc. Pension Plan in IN (220 participants, $107M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 236529457.

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.