New York › Administrative and support and waste management services › 25,000 or more participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Building Service 32BJ Pension Fund
Sponsored by Board of Trustees of the Building Service 32BJ Pension Fund, New York, 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, Building Service 32BJ Pension Fund covered 121,234 participants and held $4.57B in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees of the Building Service 32BJ Pension Fund of New York, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $37,717 per participant, well below the $88,040 median for defined benefit plans with 25,000 or more participants and well below the $84,727 median for defined benefit plans in administrative and support and waste management services. 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 $443M for the year ($8,233 per active participant) and benefits paid were $333M. 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 $12.1M: $99.98 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $31.3M. 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 $1.33B in 2009 to $4.57B in 2024 (up 244%), and participants from 89,914 to 121,234 (up 35%).
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 | $37,717 | $88,040 | $84,727 | $86,221 |
| Employer contributions per active participant | $8,233 | $6,524 | $14,385 | $10,244 |
| Schedule C compensation per participant | $99.98 | $143 | $328 | $344 |
| Schedule C compensation, share of net assets | 0.27% | 0.26% | 0.55% | 0.42% |
| Administrative expenses per participant | $258 | $306 | $508 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), administrative and support and waste management services (58) 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 | 121,234 | $4.57B | $37,717 | $443M | — | $12.1M |
| 2023 | 118,763 | $4.10B | $34,493 | $530M | — | $11.4M |
| 2022 | 120,363 | $3.51B | $29,167 | $318M | — | $10.0M |
| 2021 | 116,253 | $3.22B | $27,719 | $306M | — | $8.7M |
| 2020 | 112,351 | $3.52B | $31,291 | $290M | — | $7.8M |
| 2019 | 110,248 | $2.78B | $25,179 | $291M | — | $6.7M |
| 2018 | 110,494 | $2.69B | $24,372 | $290M | — | $6.3M |
| 2017 | 107,932 | $2.52B | $23,340 | $272M | — | $8.6M |
| 2016 | 105,358 | $2.35B | $22,347 | $258M | — | $7.3M |
| 2015 | 103,983 | $2.11B | $20,293 | $250M | — | $7.6M |
| 2014 | 99,433 | $2.12B | $21,301 | $237M | — | $8.5M |
| 2013 | 100,107 | $2.09B | $20,876 | $227M | — | $7.1M |
| 2012 | 93,954 | $1.79B | $19,091 | $222M | — | $7.2M |
| 2011 | 94,902 | $1.62B | $17,083 | $214M | — | $5.9M |
| 2010 | 93,627 | $1.61B | $17,214 | $201M | — | $8.2M |
| 2009 | 89,914 | $1.33B | $14,794 | $193M | — | $6.6M |
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$4,096,484,151
- Employer contributions$442,771,393
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$442,771,393
- Total income, including investment results$840,023,002
- Benefits paid$332,619,870
- Administrative expenses$31,335,343
- Total expenses$363,955,213
- Net income$476,067,789
- Net transfers$0
- Net assets, end of year$4,572,551,940
Participants
- Active participants53,782
- Retired or separated, receiving benefits35,057
- Retired or separated, entitled to future benefits20,000
- Total participants, end of year121,234
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Altrinsic Global Advisors LLC | Investment management | $1,320,731 | $0 |
| LSV Asset Management | Investment management | $938,117 | $0 |
| Parnassus | Investment management | $873,641 | $0 |
| Global Infrastructure Partners IV B | Investment management | $836,964 | $0 |
| Shenkman Capital Management, Inc. | Investment management | $816,812 | $0 |
| Income Research Management | Investment management | $536,716 | $0 |
| Grain Management, LLC | Investment management | $530,048 | $0 |
| Proskauer Rose LLP | Legal | $495,287 | $0 |
| Schultheis & Panettieri LLP | Accounting (including auditing) | $456,328 | $0 |
| Raab Sturm & Ganchrow LLP | Legal | $420,907 | $0 |
| H&H Graphic Printing Communications | Copying and duplicating | $371,686 | $0 |
| Meketa Investment Group Inc. | Consulting (pension); Investment advisory (plan) | $365,000 | $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
- Salaries and allowances$12,943,427
- Investment advisory and management fees$8,110,379
- Other administrative expenses$8,007,273
- Legal fees$1,132,150
- Recordkeeping fees$456,328
- Actuarial fees$354,905
- Trustee and custodial fees$200,745
- IQPA audit fees$128,000
- Other trustee fees and expenses$2,136
- Total administrative expenses$31,335,343
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$2.66B · 58.1%
- Partnership/joint venture interests$879M · 19.2%
- Registered investment companies (mutual funds)$323M · 7.1%
- Corporate debt instruments$273M · 6.0%
- Corporate stocks$258M · 5.6%
- 103-12 investment entities$69.5M · 1.5%
- Receivables$43.6M · 1.0%
- Cash (interest and non-interest bearing)$41.7M · 0.9%
- U.S. Government securities$17.7M · 0.4%
- Buildings and other property used in plan operation$9.4M · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWithumsmith+brown, PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $2,000,000
- 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 related
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 561790: Other Services to Buildings & Dwellings.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| 32BJ North Pension Fund | Board of Trustees 32BJ North Pension Fund | 15,517 | $589M | $37,937 |
| 32BJ Connecticut Pension Fund | BD of Trustees 32BJ Connecticut Pension Fund | 3,634 | $83.5M | $22,979 |
| Pension Plan Private Sanitation Union Local 813 Ibt | Board of Trustees of Pension Fund Private Sanitation Union Local 813 I | 3,308 | $279M | $84,214 |
| DTTS Pension Plan | Deloitte Touche Tohmatsu Services, LLC | 2,808 | $248M | $88,185 |
| 32BJ/BROADWAY League Pension Fund | Board of Trustees of the 32BJ/BROADWAY League Pension Fund | 2,539 | $76.2M | $30,008 |
| Sports Arena Employees Local 137 Retirement Fund | Sports Arena Employees Local 137 Retirement Fund | 1,255 | $41.8M | $33,335 |
Defined benefit plans in administrative and support and waste management services closest in size.
Questions and answers
How big is Building Service 32BJ Pension Fund?
121,234 participants at the end of the plan year ending 30 Jun 2025, of whom 53,782 were active employees, with net assets of $4,572,551,940. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Board of Trustees of the Building Service 32BJ Pension Fund contribute per participant?
The filing reports $442,771,393 in employer contributions for the year, which is $8,233 per active participant; the median for plans of the same type and size was $6,524 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 $12,121,501 in compensation to service provider organisations, $99.98 per participant or 0.27% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $31,335,343. 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 of the Building Service 32BJ Pension Fund. Investment advisory or management: Altrinsic Global Advisors LLC, LSV Asset Management and Parnassus. The financial statements were audited by Withumsmith+brown, PC. 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 15 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 13-1879376, plan 001, received 15 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.