New York › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Excavators Union Local 731 Pension Fund
Sponsored by Excavators Union Pension Fund Loca, Astoria, 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.
Excavators Union Local 731 Pension Fund is a defined benefit pension plan sponsored by Excavators Union Pension Fund Loca of Astoria, New York. For the plan year ending 31 Dec 2024 it reported 11,892 participants, 5,553 of them active, and net assets of $3.01B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $253,288 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well above 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 $146M for the year ($26,359 per active participant) and benefits paid were $113M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $7.1M: $596 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $11.3M. 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 $476M in 2009 to $3.01B in 2024 (up 533%), and participants from 8,250 to 11,892 (up 44%).
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 | $253,288 | $87,623 | $100,593 | $86,221 |
| Employer contributions per active participant | $26,359 | $9,468 | $13,292 | $10,244 |
| Schedule C compensation per participant | $596 | $232 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.23% | 0.30% | 0.46% | 0.42% |
| Administrative expenses per participant | $948 | $396 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 11,892 | $3.01B | $253,288 | $146M | — | $7.1M |
| 2023 | 11,363 | $2.63B | $231,684 | $134M | — | $5.8M |
| 2022 | 11,372 | $2.27B | $199,957 | $127M | — | $5.8M |
| 2021 | 11,144 | $2.66B | $238,558 | $120M | — | $6.3M |
| 2020 | 11,250 | $2.33B | $207,156 | $123M | — | $5.5M |
| 2019 | 11,776 | $2.00B | $170,181 | $140M | — | $5.2M |
| 2018 | 11,908 | $1.58B | $132,980 | $143M | — | $4.5M |
| 2017 | 10,236 | $1.57B | $153,211 | $140M | — | $4.3M |
| 2016 | 10,054 | $1.33B | $131,852 | $130M | — | $3.7M |
| 2015 | 9,608 | $1.16B | $120,889 | $119M | — | $3.4M |
| 2014 | 9,144 | $1.09B | $118,895 | $103M | — | $3.3M |
| 2013 | 9,171 | $948M | $103,402 | $99.4M | — | $2.9M |
| 2012 | 9,003 | $763M | $84,700 | $94.5M | — | $2.4M |
| 2011 | 8,188 | $640M | $78,206 | $94.1M | — | $2.2M |
| 2010 | 8,058 | $573M | $71,049 | $87.5M | — | $2.1M |
| 2009 | 8,250 | $476M | $57,660 | $76.7M | — | $1.8M |
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$2,632,622,221
- Employer contributions$146,369,128
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$146,369,128
- Total income, including investment results$503,482,944
- Benefits paid$112,736,973
- Administrative expenses$11,269,363
- Total expenses$124,006,336
- Net income$379,476,608
- Net transfers$0
- Net assets, end of year$3,012,098,829
Participants
- Active participants5,553
- Retired or separated, receiving benefits4,256
- Retired or separated, entitled to future benefits1,578
- Total participants, end of year11,892
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wedge Capital MGMT | Investment management | $1,224,588 | $0 |
| Atalanta Sosnoff Capital LLC | Investment management | $1,134,029 | $0 |
| Martingale | Investment management | $1,011,741 | $0 |
| BHMS | Investment management | $813,185 | $0 |
| Prudential Trust Co. (Pgim) | Investment management | $615,363 | $0 |
| Pimco | Investment management | $543,113 | $0 |
| Alliance Bernstein | Investment management | $534,195 | $0 |
| JP Morgan | Custodial (securities) | $451,259 | $0 |
| Castiglia LLP | Accounting (including auditing); Recordkeeping and information management | $243,970 | $0 |
| The Segal Company | Actuarial | $205,992 | $0 |
| ADP | Recordkeeping and information management | $99,499 | $0 |
| Merrill Lynch | Investment advisory (plan) | $85,500 | $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$6,851,318
- Salaries and allowances$2,082,054
- Other administrative expenses$962,101
- Trustee and custodial fees$451,259
- Legal fees$341,055
- Actuarial fees$205,992
- Recordkeeping fees$190,051
- IQPA audit fees$166,618
- Other trustee fees and expenses$18,915
- Total administrative expenses$11,269,363
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.
- Corporate stocks$1.20B · 39.5%
- Registered investment companies (mutual funds)$1.02B · 33.8%
- U.S. Government securities$467M · 15.4%
- Corporate debt instruments$215M · 7.1%
- Cash (interest and non-interest bearing)$55.6M · 1.8%
- Receivables$27.7M · 0.9%
- Partnership/joint venture interests$26.9M · 0.9%
- Other investments$15.6M · 0.5%
- Buildings and other property used in plan operation$269K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCastiglia, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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
1BBenefits 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 |
|---|---|---|---|---|
| Mason Tenders' District Council Pension Fund | Board of Trustees Mason Tenders District Council Pension Fund | 19,759 | $1.93B | $97,816 |
| Upstate New York Engineers Pension Fund | BD of Trust Upstate New York Engineers Pension Fund | 6,843 | $454M | $66,319 |
| New York District Council of Carpenters Pension PL | Board of Trustees of Nycdcc Pension Fund | 30,149 | $5.21B | $172,686 |
| Metal Trades Branch Local 638 Pension Fund | Metal Trades Branch Local 638 Pension Fund | 6,271 | $1.02B | $162,632 |
| Pension, Hospitalization & Benefit Plan of the Electrical Industry - Pension Trust Acct | BD of TR of the Pension, Hosp & Benefit PL of the Elec Ind-Pension | 40,749 | $5.24B | $128,644 |
| Sheet Metal Workers Local Union No. 28 Pension Fund | Board of Trustees of SMW Lu No. 28 Pension Fund | 5,570 | $364M | $65,370 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Excavators Union Local 731 Pension Fund?
11,892 participants at the end of the plan year ending 31 Dec 2024, of whom 5,553 were active employees, with net assets of $3,012,098,829. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Excavators Union Pension Fund Loca contribute per participant?
The filing reports $146,369,128 in employer contributions for the year, which is $26,359 per active participant; the median for plans of the same type and size was $9,468 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 $7,088,772 in compensation to service provider organisations, $596 per participant or 0.23% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $11,269,363. 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 Excavators Union Pension Fund Loca. Recordkeeping or administration: Castiglia LLP and ADP. Investment advisory or management: Wedge Capital MGMT, Atalanta Sosnoff Capital LLC and Martingale. Trustee or custodian: JP Morgan. The financial statements were audited by Castiglia, 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 9 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 13-1809825, plan 002, received 9 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.