Massachusetts › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Massachusetts Laborers' Annuity Fund
Sponsored by Bd. of Trustees of Mass. Laborers Annuity Fund, Burlington, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, Massachusetts Laborers' Annuity Fund covered 31,668 participants and held $2.26B in net assets. The plan is a money purchase plan sponsored by Bd. of Trustees of Mass. Laborers Annuity Fund of Burlington, Massachusetts. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $71,379 per participant, above the $62,774 median for defined contribution plans with 25,000 or more participants and well above the $54,962 median for defined contribution plans in construction. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $149M during the year, or $10,967 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $131M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $4.6M: $144 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $6.4M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $654M in 2009 to $2.26B in 2024 (up 246%), and participants from 21,869 to 31,668 (up 45%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $71,379 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $10,967 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $144 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.20% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $203 | $38.81 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 plans), construction (4,204) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 31,668 | $2.26B | $71,379 | $149M | — | $4.6M |
| 2023 | 31,659 | $2.13B | $67,217 | $150M | — | $3.9M |
| 2022 | 31,603 | $1.93B | $61,023 | $148M | — | $4.6M |
| 2021 | 31,977 | $2.12B | $66,312 | $146M | — | $4.5M |
| 2020 | 31,874 | $1.84B | $57,868 | $121M | — | $4.2M |
| 2019 | 33,365 | $1.63B | $48,897 | $127M | — | $4.0M |
| 2018 | 30,418 | $1.37B | $45,018 | $114M | — | $3.7M |
| 2017 | 29,273 | $1.38B | $47,067 | $97.9M | — | $3.3M |
| 2016 | 28,093 | $1.18B | $41,899 | $82.6M | — | $3.2M |
| 2015 | 26,394 | $1.06B | $39,988 | $76.8M | — | $3.1M |
| 2014 | 23,718 | $1.03B | $43,476 | $63.9M | — | $4.0M |
| 2013 | 23,521 | $954M | $40,553 | $54.4M | — | $4.0M |
| 2012 | 22,405 | $823M | $36,737 | $31.6M | — | $2.0M |
| 2011 | 22,252 | $763M | $34,300 | $48.8M | — | $3.2M |
| 2010 | 22,237 | $770M | $34,630 | $38.3M | — | $3.3M |
| 2009 | 21,869 | $654M | $29,884 | $33.3M | — | $2.4M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$2,128,017,505
- Employer contributions$149,163,508
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$149,163,508
- Total income, including investment results$269,983,621
- Benefits paid$131,144,917
- Administrative expenses$6,430,588
- Total expenses$137,575,505
- Net income$132,408,116
- Net transfers$0
- Net assets, end of year$2,260,425,621
Participants
- Active participants13,601
- Retired or separated, receiving benefits16,472
- Retired or separated, entitled to future benefits1,096
- Participants with account balances31,668
- Total participants, end of year31,668
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Walter Scott & Partners Limited | Investment management | $591,336 | $0 |
| Meketa Investment Group | Investment advisory (plan) | $571,217 | $0 |
| Artisan Partners LP | Investment management | $525,322 | $0 |
| Dodge & Cox Investment Manager | Investment management | $498,122 | $0 |
| Acadian Asset Management LLC | Investment management | $469,993 | $0 |
| State Street Bank and Trust Company | Custodial (securities) | $386,598 | $0 |
| Alliance Bernstein LP | Investment management | $305,111 | $0 |
| State Street Global Advisors | Custodial (other than securities); Custodial (securities) | $243,549 | $0 |
| Lazard Asset Management | Investment management | $191,927 | $0 |
| Schultheis & Panettieri LLP | Accounting (including auditing) | $150,401 | $0 |
| Segal Roitman LLP | Legal | $145,107 | $0 |
| The Segal Co. (Eastern States), Inc. | Actuarial | $119,486 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$3,579,610
- Other administrative expenses$2,242,311
- Trustee and custodial fees$386,598
- Actuarial fees$119,486
- IQPA audit fees$89,901
- Legal fees$12,682
- Total administrative expenses$6,430,588
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$811M · 35.4%
- Partnership/joint venture interests$494M · 21.6%
- Corporate stocks$303M · 13.2%
- 103-12 investment entities$300M · 13.1%
- Corporate debt instruments$119M · 5.2%
- Registered investment companies (mutual funds)$73.7M · 3.2%
- U.S. Government securities$70.3M · 3.1%
- Cash (interest and non-interest bearing)$51.1M · 2.2%
- Receivables$29.5M · 1.3%
- Pooled separate accounts$28.5M · 1.2%
- Other loans$9.9M · 0.4%
- Buildings and other property used in plan operation$1.7M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmSchultheis & Panettieri, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 236200: Nonresidential Building Construction.
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Iron Workers District Council of New England Annuity Fund | Board of Trustees Iron Workers | 9,989 | $614M | $61,435 |
| International Union of Operating Engineers Local 4 Annuity | Board of Trustees I.U.O.E. Local 4 Annuity Fund | 6,298 | $725M | $115,038 |
| Painters and Allied Trades District Council NO.35 Annuity Fund | Painters Annuity Council No. 35 Annuity Fund | 6,176 | $525M | $84,991 |
| Pipefitters Local Union No. 537 Deferred Income Annuity Fund Individual Account Plan | Pipefitters Local Union NO.537 | 3,374 | $776M | $229,959 |
| Plumbers Union Local No 12 Annuity Plan | Plumbers Union Local No. 12 Annuit | 3,369 | $332M | $98,435 |
| Massachusetts Bricklayers & Masons Annuity Fund | Massachusetts Bricklayers & Masons Annuity Fund | 2,927 | $273M | $93,320 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Massachusetts Laborers' Annuity Fund?
31,668 participants at the end of the plan year ending 31 Dec 2024, of whom 13,601 were active employees, with net assets of $2,260,425,621. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Bd. of Trustees of Mass. Laborers Annuity Fund contribute per participant?
The filing reports $149,163,508 in employer contributions for the year, which is $10,967 per active participant; the median for plans of the same type and size was $2,417 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $4,553,927 in compensation to service provider organisations, $144 per participant or 0.20% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $6,430,588. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Bd. of Trustees of Mass. Laborers Annuity Fund. Investment advisory or management: Walter Scott & Partners Limited, Meketa Investment Group and Artisan Partners LP. Trustee or custodian: State Street Bank and Trust Company and State Street Global Advisors. The financial statements were audited by Schultheis & Panettieri, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 10 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-6553616, plan 001, received 10 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.