New York › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Laborers Local 1298 of Nassau & Suffolk Counties Annuity Fund
Sponsored by Board of Trustees Local 1298 Annuity Fund, Hempstead, 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, Laborers Local 1298 of Nassau & Suffolk Counties Annuity Fund covered 2,968 participants and held $281M in net assets. The plan is a money purchase plan sponsored by Board of Trustees Local 1298 Annuity Fund of Hempstead, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $94,696 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 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 $16.8M during the year, or $10,953 per active participant against a same-size median of $2,045; participants contributed —. Benefits paid out totalled $22.7M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $1.9M: $628 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $2.2M. 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 $116M in 2009 to $281M in 2024 (up 143%), and participants from 2,579 to 2,968 (up 15%).
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 | $94,696 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $10,953 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $628 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.66% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $731 | $82.20 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 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 | 2,968 | $281M | $94,696 | $16.8M | — | $1.9M |
| 2023 | 2,937 | $269M | $91,609 | $15.8M | — | $1.8M |
| 2022 | 2,896 | $250M | $86,435 | $15.5M | — | $1.6M |
| 2021 | 2,887 | $241M | $83,370 | $15.0M | — | $1.7M |
| 2020 | 3,025 | $246M | $81,384 | $13.7M | — | $884K |
| 2019 | 3,027 | $216M | $71,374 | $13.5M | — | $761K |
| 2018 | 2,956 | $203M | $68,799 | $12.7M | — | $816K |
| 2017 | 2,882 | $190M | $65,774 | $11.6M | — | $697K |
| 2016 | 2,824 | $176M | $62,354 | $10.2M | — | $689K |
| 2015 | 2,769 | $165M | $59,491 | $9.6M | — | $697K |
| 2014 | 2,686 | $160M | $59,468 | $8.6M | — | $502K |
| 2013 | 2,611 | $155M | $59,180 | $7.5M | — | $484K |
| 2012 | 2,594 | $145M | $55,932 | $7.3M | — | $366K |
| 2011 | 2,564 | $136M | $53,169 | $7.0M | — | $334K |
| 2010 | 2,601 | $130M | $49,896 | $7.7M | — | $348K |
| 2009 | 2,579 | $116M | $44,895 | $7.6M | — | $264K |
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$269,054,798
- Employer contributions$16,791,418
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$16,791,418
- Total income, including investment results$36,836,830
- Benefits paid$22,664,554
- Administrative expenses$2,169,925
- Total expenses$24,834,479
- Net income$12,002,351
- Net transfers$0
- Net assets, end of year$281,057,149
Participants
- Active participants1,533
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits1,435
- Participants with account balances2,968
- Total participants, end of year2,968
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Crescent Credit Solutions VIIIA-2 | Custodial (securities); Investment management | $844,014 | $0 |
| Boyd Watterson Asset MGMT LLC | Custodial (securities); Investment management | $268,954 | $0 |
| Tocqueville Asset Management LP | Investment management | $121,508 | $0 |
| Empower Annuity Insurance Company | Custodial (securities); Investment management | $116,363 | $0 |
| Intercontinental Real Estate Corp. | Custodial (securities); Investment management | $84,036 | $0 |
| Crescent Capital Group LP | Custodial (securities); Investment management | $79,156 | $0 |
| Eaton Vance | Investment management | $67,418 | $0 |
| Raymond James Investment MGMT | Investment management | $66,278 | $0 |
| Barnes, Iaccarino & Shepherd LLP | Legal | $55,207 | $0 |
| Citrin Cooperman & Company LLP | Accounting (including auditing) | $35,568 | $0 |
| M&T Bank Trust & Pension Services | Custodial (securities) | $30,113 | $0 |
| Reynolds Consulting Services | Consulting (general); Investment advisory (plan) | $28,951 | $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
- Trustee and custodial fees$1,444,397
- Investment advisory and management fees$309,134
- Salaries and allowances$204,065
- Other administrative expenses$107,904
- Legal fees$55,207
- IQPA audit fees$34,960
- Recordkeeping fees$9,808
- Actuarial fees$4,450
- Total administrative expenses$2,169,925
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.
- Insurance company general account$58.3M · 20.7%
- Common/collective trusts$50.7M · 18.0%
- U.S. Government securities$43.4M · 15.4%
- Partnership/joint venture interests$36.8M · 13.1%
- Registered investment companies (mutual funds)$35.6M · 12.6%
- Corporate stocks$28.0M · 10.0%
- Cash (interest and non-interest bearing)$24.9M · 8.8%
- Receivables$2.5M · 0.9%
- Corporate debt instruments$1.6M · 0.6%
- Buildings and other property used in plan operation$4,885 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCitrin Cooperman & Company LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 237310: Highway, Street, & Bridge.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Local 580 Annuity Fund | Board of Trustees Local 580 Annuity Fund | 3,081 | $663M | $215,068 |
| Pointers, Cleaners & Caulkers Annuity Fund | Board of Trustees of Pointers, | 2,949 | $150M | $50,712 |
| The Local 7 Tile Industry Annuity Fund | TMT Bac Local Union #7 | 3,116 | $213M | $68,505 |
| Annuity FD of the Electrical Industry of Long Island | Board of Trust of the Annuity FD of the Electrical Industry of Li | 2,909 | $480M | $164,897 |
| Dragados USA, Inc. 401(k) Plan | Dragados USA, Inc. | 3,454 | $212M | $61,455 |
| I. B. E. W. Local 25 401(k) Fund | Board of Trustees of I.B.E.W. Local 25 401(k) Fund | 2,881 | $471M | $163,611 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Laborers Local 1298 of Nassau & Suffolk Counties Annuity Fund?
2,968 participants at the end of the plan year ending 30 Jun 2025, of whom 1,533 were active employees, with net assets of $281,057,149. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Board of Trustees Local 1298 Annuity Fund contribute per participant?
The filing reports $16,791,418 in employer contributions for the year, which is $10,953 per active participant; the median for plans of the same type and size was $2,045 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 $1,864,589 in compensation to service provider organisations, $628 per participant or 0.66% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $2,169,925. 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 Local 1298 Annuity Fund. Investment advisory or management: Crescent Credit Solutions VIIIA-2, Boyd Watterson Asset MGMT LLC and Tocqueville Asset Management LP. Trustee or custodian: Crescent Credit Solutions VIIIA-2, Boyd Watterson Asset MGMT LLC and Empower Annuity Insurance Company. The financial statements were audited by Citrin Cooperman & Company 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 14 Apr 2026. 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 11-2911064, plan 001, received 14 Apr 2026; 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.