New York › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Plumbers Local Union No. 1 Employee 401(k) Savings Plan
Sponsored by Plumbers Local Union No. 1 Employee 401(k) Savings Plan, Long Island City, 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.
Plumbers Local Union No. 1 Employee 401(k) Savings Plan is a 401(k) plan sponsored by Plumbers Local Union No. 1 Employee 401(k) Savings Plan of Long Island City, New York. For the plan year ending 31 Dec 2025 it reported 5,887 participants, 5,443 of them active, and net assets of $1.10B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $168,738 per participant in plan year 2024, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 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 $32.2M during the year, or $5,921 per active participant against a same-size median of $2,424; participants contributed $20.5M and $137K arrived as rollovers and other contributions. Benefits paid out totalled $74.1M.
Schedule C lists 11 service provider organisations paid $5,000 or more, with reported compensation of $660K: $112 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.8M. 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 $184M in 2009 to $1.10B in 2025 (up 496%), and participants from 4,669 to 5,887 (up 26%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $168,738 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $5,689 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $111 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.07% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $291 | $54.85 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 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 |
|---|---|---|---|---|---|---|
| 2025 | 5,887 | $1.10B | $186,244 | $32.2M | $20.5M | $660K |
| 2024 | 5,695 | $961M | $168,738 | $30.0M | $21.3M | $632K |
| 2023 | 4,960 | $873M | $175,968 | $30.7M | $21.7M | $606K |
| 2022 | 5,046 | $744M | $147,420 | $32.1M | $23.4M | $682K |
| 2021 | 5,090 | $877M | $172,300 | $33.0M | $23.2M | $562K |
| 2020 | 5,008 | $754M | $150,587 | $30.8M | $21.9M | $612K |
| 2019 | 5,143 | $700M | $136,083 | $32.1M | $25.5M | $687K |
| 2018 | 5,076 | $551M | $108,542 | $25.4M | $25.8M | $662K |
| 2017 | 4,937 | $560M | $113,449 | $23.2M | $25.7M | $748K |
| 2016 | 5,625 | $454M | $80,760 | $19.9M | $22.2M | $693K |
| 2015 | 5,876 | $394M | $66,987 | $16.2M | $19.5M | $864K |
| 2014 | 4,634 | $380M | $81,987 | $14.2M | $18.6M | $723K |
| 2013 | 4,560 | $339M | $74,369 | $13.6M | $17.2M | $618K |
| 2012 | 4,315 | $269M | $62,236 | $12.2M | $14.3M | $565K |
| 2011 | 4,309 | $227M | $52,666 | $11.4M | $13.6M | $638K |
| 2010 | 4,497 | $226M | $50,241 | $15.8M | $12.1M | $705K |
| 2009 | 4,669 | $184M | $39,399 | $14.4M | $13.7M | $594K |
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$960,960,502
- Employer contributions$32,230,493
- Participant contributions$20,497,513
- Rollovers and other contributions$136,728
- Total contributions$52,864,734
- Total income, including investment results$211,338,287
- Benefits paid$74,111,954
- Administrative expenses$1,770,845
- Total expenses$75,882,799
- Net income$135,455,488
- Net transfers$0
- Net assets, end of year$1,096,415,990
Participants
- Active participants5,443
- Retired or separated, receiving benefits176
- Retired or separated, entitled to future benefits188
- Participants with account balances4,674
- Total participants, end of year5,887
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Insurance Company | Contract Administrator | $192,681 | $0 |
| O'Donoghue & O'Donoghue LLP | Legal | $150,639 | $0 |
| Bridgeway Benefit Technologies, LLC | Recordkeeping and information management | $73,677 | $0 |
| Schultheis & Panettieri LLP | Accounting (including auditing) | $53,046 | $0 |
| Virginia & Ambinder, LLP | Legal | $48,503 | $0 |
| Meketa Investment Group Inc. | Investment advisory (plan) | $40,000 | $0 |
| Kauff, McGuire & Margolis, LLP | Legal | $36,658 | $0 |
| Novak Francella, LLC | Accounting (including auditing) | $26,353 | $0 |
| BNY Mellon | Other services | $23,041 | $0 |
| Segal Select Insurance Services Inc. | Insurance agents and brokers | $0 | $8,541 |
| The Berwyn Group | Consulting (general) | $6,430 | $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
- Salaries and allowances$825,052
- Other administrative expenses$397,065
- Legal fees$235,800
- Contract administrator fees$192,681
- Recordkeeping fees$53,814
- Investment advisory and management fees$40,000
- IQPA audit fees$25,585
- Other trustee fees and expenses$848
- Total administrative expenses$1,770,845
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$698M · 63.6%
- Registered investment companies (mutual funds)$379M · 34.5%
- Cash (interest and non-interest bearing)$14.2M · 1.3%
- Receivables$6.3M · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmNovak Francella, LLC
- Participant contributions reported as transmitted lateYes, $1,841,579
- Covered by a fidelity bondYes, $3,500,000
- 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
2EProfit-sharing plan2GTotal participant-directed account plan2JCode section 401(k) feature
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238220: Plumbing, Heating, & Air-Conditioning Contractors.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Building Trades Annuity Benefit Fund | The Building Industry Electrical Contractors Association, Inc. | 7,092 | $116M | $16,398 |
| Annuity Fund IUOE Local 15, 15A, 15C, 15D AFL-CIO | Board of Trustees Annuity Fund IUOE Local 15, 15A, 15C, 15D AFL-CIO | 5,356 | $2.30B | $429,774 |
| Annuity FD of the IUOE Local Union 94, 94A, 94B AFL-CIO | BD of Trustees Annuity Fund of the IUOE LCL Union 94, 94A, 94B AFL-CIO | 7,900 | $1.82B | $230,494 |
| IUOE Local 30 Annuity Fund | BD of Trustees IUOE Local 30 Annuity Fund | 5,154 | $613M | $119,009 |
| Painting Industry Annuity Fund | Board of Trustees of the Painting Industry Annuity Fund | 8,480 | $879M | $103,666 |
| Pavers & Road Builders DC Annuity Fund | Pavers & Road Builders DC Annuity Fund | 5,092 | $332M | $65,149 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Plumbers Local Union No. 1 Employee 401(k) Savings Plan?
5,887 participants at the end of the plan year ending 31 Dec 2025, of whom 5,443 were active employees, with net assets of $1,096,415,990. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Plumbers Local Union No. 1 Employee 401(k) Savings Plan contribute per participant?
The filing reports $32,230,493 in employer contributions for the year, which is $5,921 per active participant; the median for plans of the same type and size was $2,424 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 $659,569 in compensation to service provider organisations, $112 per participant or 0.06% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $1,770,845. 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 Plumbers Local Union No. 1 Employee 401(k) Savings Plan. Recordkeeping or administration: Empower Annuity Insurance Company and Bridgeway Benefit Technologies, LLC. Investment advisory or management: Meketa Investment Group Inc.. The financial statements were audited by Novak Francella, LLC. 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 2025 to 31 Dec 2025, received by the Department of Labor on 14 Aug 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 13-3877439, plan 003, received 14 Aug 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.