New York › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
General Building Laborers' Local 66 Pension Fund
Sponsored by Board of Trustees General Building Local 66 Pension Fund, Melville, NY
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 30 Jun 2025, General Building Laborers' Local 66 Pension Fund covered 2,073 participants and held $218M in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees General Building Local 66 Pension Fund of Melville, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $104,937 per participant, above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and close to the $100,593 median for defined benefit 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.
Employer contributions were $7.6M for the year ($13,526 per active participant) and benefits paid were $12.7M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 12 service provider organisations paid $5,000 or more, with reported compensation of $959K: $463 per participant, well above the same-size median of $325. Administrative expenses charged to the plan were $1.5M. 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 $90.1M in 2009 to $218M in 2024 (up 141%), and participants from 2,360 to 2,073 (down 12%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $104,937 | $87,935 | $100,593 | $86,221 |
| Employer contributions per active participant | $13,526 | $10,593 | $13,292 | $10,244 |
| Schedule C compensation per participant | $463 | $325 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.44% | 0.41% | 0.46% | 0.42% |
| Administrative expenses per participant | $736 | $513 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), construction (655) and all US plans (5,308). 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 | 2,073 | $218M | $104,937 | $7.6M | — | $959K |
| 2023 | 1,987 | $201M | $100,999 | $7.0M | — | $1.0M |
| 2022 | 2,197 | $186M | $84,826 | $7.0M | — | $1.1M |
| 2021 | 2,081 | $182M | $87,367 | $6.9M | — | $1.2M |
| 2020 | 2,029 | $204M | $100,479 | $6.4M | — | $1.2M |
| 2019 | 2,085 | $165M | $79,196 | $6.7M | — | $1.2M |
| 2018 | 2,120 | $167M | $78,835 | $7.8M | — | $1.2M |
| 2017 | 2,174 | $161M | $73,946 | $6.9M | — | $1.0M |
| 2016 | 2,195 | $152M | $69,103 | $8.0M | — | $959K |
| 2015 | 2,234 | $137M | $61,545 | $7.9M | — | $932K |
| 2014 | 2,283 | $141M | $61,601 | $7.7M | — | $950K |
| 2013 | 2,240 | $135M | $60,364 | $7.7M | — | $884K |
| 2012 | 2,235 | $116M | $51,751 | $7.1M | — | $887K |
| 2011 | 2,292 | $105M | $45,681 | $7.3M | — | $881K |
| 2010 | 2,357 | $106M | $44,867 | $7.0M | — | $836K |
| 2009 | 2,360 | $90.1M | $38,168 | $7.5M | — | $669K |
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$200,685,786
- Employer contributions$7,587,907
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$7,587,907
- Total income, including investment results$31,121,074
- Benefits paid$12,745,242
- Administrative expenses$1,526,234
- Total expenses$14,271,476
- Net income$16,849,598
- Net transfers$0
- Net assets, end of year$217,535,384
Participants
- Active participants561
- Retired or separated, receiving benefits812
- Retired or separated, entitled to future benefits320
- Total participants, end of year2,073
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| LSV Asset Management | Investment management | $390,676 | $0 |
| The Segal Co.(eastern States), Inc. | Actuarial | $110,818 | $0 |
| Schultheis & Panettieri LLP | Accounting (including auditing) | $96,837 | $0 |
| Asb Capital Management LLC | Investment management | $81,532 | $0 |
| Dahab Associates Inc. | Investment advisory (plan) | $57,927 | $0 |
| Lazard Asset Management LLC | Investment management | $49,421 | $0 |
| Bridgeway Benefit Technologies | Recordkeeping and information management | $44,688 | $0 |
| High Level Technologies Inc. | Consulting (general) | $41,236 | $0 |
| Proskauer Rose LLP | Legal | $37,253 | $0 |
| State Street Global Advisors Trust | Custodial (securities); Investment management | $27,144 | $0 |
| Lavelle Law & Associates PC | Legal | $21,600 | $0 |
| The Union Labor Life Insurance Comp | Investment management | $0 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 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$666,553
- Salaries and allowances$342,188
- Other administrative expenses$226,252
- Actuarial fees$110,818
- IQPA audit fees$60,991
- Legal fees$58,853
- Recordkeeping fees$39,372
- Trustee and custodial fees$16,501
- Other trustee fees and expenses$4,706
- Total administrative expenses$1,526,234
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$73.6M · 33.8%
- Corporate stocks$59.4M · 27.3%
- 103-12 investment entities$22.2M · 10.2%
- Partnership/joint venture interests$20.6M · 9.5%
- U.S. Government securities$16.6M · 7.6%
- Corporate debt instruments$11.1M · 5.1%
- Pooled separate accounts$8.6M · 3.9%
- Cash (interest and non-interest bearing)$2.8M · 1.3%
- Registered investment companies (mutual funds)$1.7M · 0.8%
- Receivables$1.4M · 0.6%
- Buildings and other property used in plan operation$17K · 0.0%
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, $2,500,000
- Blackout period during the year—
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
1ABenefits are primarily pay related1BBenefits are primarily flat dollar (includes dollars per year of service)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Electrician's Retirement Fund | The Building Industry Electrical Contractors Association, Inc. | 2,208 | $236M | $106,927 |
| U.A. Plumbers & Steamfitters Local 22 Pension Fund | U.A. Plumbers & Steamfitters Local 22 Pension Fund | 1,968 | $289M | $146,682 |
| Westchester Heavy Construction Laborers Local 60 Pension Fund | Board of Trustees Local 60 Pension Fund | 2,311 | $341M | $147,689 |
| IBEW Local 43 & Electrical Contractors Pension Fund | IBEW Local 43 & Electrical Contractors Pension Fund | 1,953 | $271M | $138,837 |
| Iron Workers District Council of Western New York and Vicinity Pension Plan | Board of Trustees of Iwdc of Wny and Vicinity Pension Plan | 2,357 | $172M | $73,147 |
| Rochester Laborers Pension Fund | Rochester Laborers Pension Fund | 1,844 | $219M | $118,875 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is General Building Laborers' Local 66 Pension Fund?
2,073 participants at the end of the plan year ending 30 Jun 2025, of whom 561 were active employees, with net assets of $217,535,384. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Board of Trustees General Building Local 66 Pension Fund contribute per participant?
The filing reports $7,587,907 in employer contributions for the year, which is $13,526 per active participant; the median for plans of the same type and size was $10,593 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 $959,132 in compensation to service provider organisations, $463 per participant or 0.44% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,526,234. 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 Board of Trustees General Building Local 66 Pension Fund. Recordkeeping or administration: Bridgeway Benefit Technologies. Investment advisory or management: LSV Asset Management, Asb Capital Management LLC and Dahab Associates Inc.. Trustee or custodian: State Street Global Advisors Trust. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 23 Dec 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 11-1974385, plan 001, received 23 Dec 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.