New York › Other services › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Laundry, Dry Cleaning Workers & Allied Industries Retirement Fund, Workers United
Sponsored by Trustees of the Laundry,dry Cleaning Wo Rkers and Allied Industries Re, White Plains, 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.
Trustees of the Laundry,dry Cleaning Wo Rkers and Allied Industries Re of White Plains, New York sponsors Laundry, Dry Cleaning Workers & Allied Industries Retirement Fund, Workers United, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 9,243 participants (1,995 active) and $193M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $20,875 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below the $110,377 median for defined benefit plans in other 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 $2.2M for the year ($1,086 per active participant) and benefits paid were $9.4M. 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 $1.7M: $187 per participant, below the same-size median of $232. Administrative expenses charged to the plan were $2.0M. 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 $114M in 2009 to $193M in 2024 (up 69%), and participants from 11,907 to 9,243 (down 22%).
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 | $20,875 | $87,623 | $110,377 | $86,221 |
| Employer contributions per active participant | $1,086 | $9,468 | $13,001 | $10,244 |
| Schedule C compensation per participant | $187 | $232 | $486 | $344 |
| Schedule C compensation, share of net assets | 0.90% | 0.30% | 0.44% | 0.42% |
| Administrative expenses per participant | $219 | $396 | $662 | $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), other services (226) 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 | 9,243 | $193M | $20,874 | $2.2M | — | $1.7M |
| 2023 | 9,398 | $186M | $19,765 | $2.0M | — | $1.3M |
| 2022 | 9,644 | $174M | $18,050 | $2.1M | — | $1.4M |
| 2021 | 9,712 | $212M | $21,827 | $1.8M | — | $1.4M |
| 2020 | 9,714 | $184M | $18,973 | $1.8M | — | $1.5M |
| 2019 | 10,274 | $173M | $16,824 | $2.6M | — | $1.9M |
| 2018 | 10,199 | $153M | $14,994 | $2.5M | — | $1.7M |
| 2017 | 9,938 | $165M | $16,556 | $2.4M | — | $2.0M |
| 2016 | 10,978 | $151M | $13,772 | $2.4M | — | $1.6M |
| 2015 | 11,162 | $145M | $13,002 | $2.7M | — | $1.4M |
| 2014 | 10,493 | $154M | $14,690 | $2.5M | — | $1.7M |
| 2013 | 10,784 | $150M | $13,865 | $2.3M | — | $1.3M |
| 2012 | 10,747 | $129M | $12,011 | $2.1M | — | $1.2M |
| 2009 | 11,907 | $114M | $9,602 | $1.7M | — | $1.4M |
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$185,747,893
- Employer contributions$2,165,981
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$2,165,981
- Total income, including investment results$18,613,513
- Benefits paid$9,392,272
- Administrative expenses$2,026,106
- Total expenses$11,418,378
- Net income$7,195,135
- Net transfers$0
- Net assets, end of year$192,943,028
Participants
- Active participants1,995
- Retired or separated, receiving benefits2,540
- Retired or separated, entitled to future benefits4,532
- Total participants, end of year9,243
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Schulte Roth & Zabel LLP | Legal | $606,652 | $0 |
| Amalgamated Empoyee Benefits Admini | Contract Administrator; Copying and duplicating; Participant communication | $486,278 | $0 |
| Horizon Actuarial Services, LLC | Actuarial | $120,964 | $0 |
| Lazard Asset Management LLC | Investment management | $111,512 | $0 |
| LSV Asset Management | Investment management | $104,294 | $0 |
| Mariner Institutional, LLC | Investment management | $63,750 | $0 |
| Novak Francella LLC | Accounting (including auditing) | $47,000 | $0 |
| Hardman Johnston Global Advisor | Investment management | $42,215 | $0 |
| Newtower Trust Company | Trustee (bank, trust company, or similar financial institution); Investment management | $0 | $33,908 |
| Hamilton Lane Advisors LLC | Investment management | $0 | $28,666 |
| SS&C Technologies | Recordkeeping and information management | $0 | $25,501 |
| Landmark Equity Advisers LLC | Investment management | $0 | $21,573 |
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
- Legal fees$606,652
- Other administrative expenses$459,785
- Investment advisory and management fees$434,889
- Contract administrator fees$346,466
- Actuarial fees$120,964
- IQPA audit fees$47,000
- Trustee and custodial fees$10,350
- Total administrative expenses$2,026,106
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.
- Partnership/joint venture interests$54.0M · 27.9%
- Common/collective trusts$47.5M · 24.6%
- Registered investment companies (mutual funds)$40.9M · 21.2%
- 103-12 investment entities$19.7M · 10.2%
- Corporate stocks$18.2M · 9.4%
- Other investments$9.3M · 4.8%
- Cash (interest and non-interest bearing)$2.1M · 1.1%
- Receivables$1.6M · 0.8%
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 lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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 812320: Drycleaning & Laundry Services (except Coin-Operated).
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Service Employees Pension Fund of Upstate NY Upstate New York | Service Employees Pension Fund of Upstate NY | 9,408 | $230M | $24,442 |
| National Girl Scout Council Retirement Plan | Girl Scouts of the USA | 6,669 | $430M | $64,467 |
| Local 153 Pension Fund | Joint Board of Trustees of Local 153 Pension Fund | 10,123 | $129M | $12,751 |
| Consolidated Retirement Plan | Board of Trustees Consolidated Retirement Fund | 4,269 | $492M | $115,218 |
| Massachusetts Service Employees' Pension Fund | Trustees of Massachusetts Service Employees' Pension Fund | 22,061 | $297M | $13,457 |
| Retirement Plan of the Wine, Liquor & Distillery Workers Union Local 1D Pension Fund | BD of Trustees Retirement Plan of WLDW Union Local 1D | 2,467 | $103M | $41,749 |
Defined benefit plans in other services closest in size.
Questions and answers
How big is Laundry, Dry Cleaning Workers & Allied Industries Retirement Fund, Workers United?
9,243 participants at the end of the plan year ending 31 Dec 2024, of whom 1,995 were active employees, with net assets of $192,943,028. 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 Trustees of the Laundry,dry Cleaning Wo Rkers and Allied Industries Re contribute per participant?
The filing reports $2,165,981 in employer contributions for the year, which is $1,086 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 $1,728,086 in compensation to service provider organisations, $187 per participant or 0.90% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $2,026,106. 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 Trustees of the Laundry,dry Cleaning Wo Rkers and Allied Industries Re. Recordkeeping or administration: Amalgamated Empoyee Benefits Admini and SS&C Technologies. Investment advisory or management: Lazard Asset Management LLC, LSV Asset Management and Mariner Institutional, LLC. Trustee or custodian: Newtower Trust Company. 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 2024 to 31 Dec 2024, received by the Department of Labor on 15 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 13-5521921, plan 001, received 15 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.