Defined Benefit (Pension) · DOL Form 5500 · 2024

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

Data updated 2026-08-25

$34M
Total assets Below avg plan size
173
Participants Small participant base
79th
Percentile by assets National rank
$198,172
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

$34M in assets, 173 participants

Trustees of the Iron Workers Local 498 Defined Benefit Plan's Iron Workers Local 498 Defined Benefit Plan reported $34M in total assets and 173 participants in its 2024 DOL Form 5500 filing, ranking in the 79th 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.

  • #7,021 in Construction (9,039 peers)

Coverage in Illinois

Iron Workers Local 498 Defined Benefit Plan covers 173 participants in Illinois, about 22% of the average Illinois filer (state average ~779 per filing). Assets: $34M.

#7,021
in Construction (9,039 peers)
+12.8%
assets growth YoY
0.3×
vs typical plan assets (national mean)

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 2024 · DOL Form 5500

$34,283,814 Top 21% higher than 79% of 123,620 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 2024

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

Plan-year 2024 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 (173 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Iron Workers Local 498 Defined Benefit Plan reported net income rose from $3M in the plan year 2023 filing to $4M in the plan year 2024 filing.
  • Iron Workers Local 498 Defined Benefit Plan reported participants rose from 151 in the plan year 2023 filing to 173 in the plan year 2024 filing.
  • Iron Workers Local 498 Defined Benefit Plan end-of-year assets rose from $30M in the plan year 2023 filing to $34M in the plan year 2024 filing.

See the national 2023→2024 release diff →

EBSA filing schedule strip

Filing strip 363119818 · Trustees of the Iron Workers Local 498 Defined Benefit Plan PY 2024 · Defined Benefit (Pension)

Iron Workers Local 498 Defined Benefit Plan · $34M · 173 · 79th

  • VS-ST $34M
  • VS-ST 173
  • VS-ST 79th
  • VS-ST Defined Benefit (Pension)
  • VS-ST near Orange Bank & Trust Company Pension Plan as a Member of the New York State Bankers Retirement System
  • VS-ST ind #7021

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

Allied Workers Local 48 Pension PlanAllied Workers Local 48 Pens…$34MOrange Bank & Trust Company Pension Plan as a Member of the New York State Bankers Retirement SystemOrange Bank & Trust Company …$34MIron Workers Local 498 Defined Benefit PlanIron Workers Local 498 Defin…$34MAustin Telco Fcu Retirement PlanAustin Telco Fcu Retirement …$34MFood Pantry, Ltd. Pension PlanFood Pantry, Ltd. Pension Pl…$34M
End-of-year total assets ($M) among Iron Workers Local 498 Defined Benefit Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2024.

Illinois filing particulars

Total Assets (Beginning of Year)$30M
Net Assets (End of Year)$34M
Net Income$4M
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. -1000001000020000300004000050000 -200204060 Total assets ($B) Participants Iron Workers Local 498 Defined Benefit Plan, Total assets ($B): 0.034283814 · Participants: 173Iron Workers Local 498 Defined Benefit PlanCentral States, Southeast & Southwest Areas Pension Plan, Total assets ($B): 48.22071058 · Participants: 36799Central States, Southeast & Southwest Areas Pension PlanState Farm Insurance Companies Retirement Plan for United States Employees, Total assets ($B): 37.736369487 · Participants: 41619State Farm Insurance Companies Retirement Plan for United States EmployeesGE Healthcare Pension Plan, Total assets ($B): 13.74052931 · Participants: 5554GE Healthcare Pension PlanAbbott Laboratories Annuity Retirement Plan, Total assets ($B): 8.591907247 · Participants: 17875Abbott Laboratories Annuity Retirement PlanUnited Food & Commercial Workers Intl Union - Industry Pension Fund, Total assets ($B): 8.17675965 · Participants: 20984United Food & Commercial Workers Intl Union - Industry Pension Fund
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 Orange Bank & Trust Company Pension Plan as a Member of the New York State Bankers Retirement System in NY ($34M); by covered participants it is Major League Baseball Pension Plan for Non-Uniformed Personnel in MO (173 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (173 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Iron Workers Local 498 Defined Benefit Plan grew at a solid clip - up 12.8% during 2024, from $30M to $34M. Reported net income was $4M.
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 79th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (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 Orange Bank & Trust Company Pension Plan as a Member of the New York State Bankers Retirement System in NY ($34M, 43 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 Major League Baseball Pension Plan for Non-Uniformed Personnel in MO (173 participants, $66M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.