New York › Construction › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Annuity Fund of Heat and Frost Insulators Local 12
Sponsored by Board of Trustees Annuity Fund of Heat and Frost Insulators Local 12, 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.
Annuity Fund of Heat and Frost Insulators Local 12 is a profit-sharing plan sponsored by Board of Trustees Annuity Fund of Heat and Frost Insulators Local 12 of Long Island City, New York. For the plan year ending 31 Dec 2025 it reported 724 participants, 415 of them active, and net assets of $215M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $276,510 per participant in plan year 2024, well above the $46,267 median for defined contribution plans with 500 to 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 $6.5M during the year, or $15,578 per active participant against a same-size median of $1,934; participants contributed —. Benefits paid out totalled $15.7M.
Schedule C lists 9 service provider organisations paid $5,000 or more, with reported compensation of $483K: $667 per participant, well above the same-size median of $113. Administrative expenses charged to the plan were $587K. 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 $85.6M in 2009 to $215M in 2025 (up 151%), and participants from 851 to 724 (down 15%).
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 | $276,510 | $46,267 | $54,962 | $53,102 |
| Employer contributions per active participant | $14,100 | $1,934 | $2,728 | $2,175 |
| Schedule C compensation per participant | $590 | $113 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.21% | 0.25% | 0.33% | 0.26% |
| Administrative expenses per participant | $858 | $109 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 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 | 724 | $215M | $297,233 | $6.5M | — | $483K |
| 2024 | 724 | $200M | $276,510 | $6.5M | — | $427K |
| 2023 | 738 | $188M | $254,364 | $6.2M | — | $371K |
| 2022 | 758 | $175M | $231,281 | $6.8M | — | $352K |
| 2021 | 784 | $214M | $273,071 | $7.7M | — | $353K |
| 2020 | 767 | $189M | $246,756 | $6.9M | — | $318K |
| 2019 | 791 | $173M | $218,315 | $8.0M | — | $308K |
| 2018 | 786 | $150M | $190,603 | $8.6M | — | $430K |
| 2017 | 740 | $153M | $206,151 | $8.1M | — | $319K |
| 2016 | 701 | $136M | $194,205 | $7.4M | — | $295K |
| 2015 | 678 | $127M | $187,425 | $6.9M | — | $297K |
| 2014 | 656 | $125M | $190,322 | $7.0M | — | $292K |
| 2013 | 657 | $118M | $179,037 | $6.9M | $0 | $289K |
| 2012 | 634 | $106M | $166,860 | $6.3M | — | $405K |
| 2011 | 637 | $95.0M | $149,141 | $5.3M | — | $348K |
| 2010 | 819 | $92.8M | $113,344 | $5.2M | $19K | $364K |
| 2009 | 851 | $85.6M | $100,570 | $5.9M | — | $353K |
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$200,193,112
- Employer contributions$6,464,844
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,464,844
- Total income, including investment results$31,710,912
- Benefits paid$15,747,482
- Administrative expenses$586,689
- Total expenses$16,706,787
- Net income$15,004,125
- Net transfers$0
- Net assets, end of year$215,197,237
Participants
- Active participants415
- Retired or separated, receiving benefits55
- Retired or separated, entitled to future benefits226
- Participants with account balances724
- Total participants, end of year724
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| John Hancock Retirement Plan Srvcs | Investment management | $153,484 | $0 |
| Mackay Shields LLC | Investment management | $76,163 | $0 |
| Schultheis & Panettieri, LLP | Accounting (including auditing) | $58,000 | $0 |
| Proskauer Rose LLP | Legal | $57,302 | $0 |
| Colleran O'Hara & Mills LLP | Legal | $49,687 | $0 |
| Reynolds Consulting Services LLC | Investment advisory (plan) | $38,137 | $0 |
| M&T Bank | Custodial (securities) | $31,074 | $0 |
| Zenith American Solutions | Plan Administrator | $10,980 | $0 |
| Matrix Trust Company | Investment management fees paid directly by plan; Other investment fees and expenses | $8,000 | $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
- Trustee and custodial fees$217,272
- Other administrative expenses$153,231
- Legal fees$106,989
- IQPA audit fees$58,000
- Investment advisory and management fees$38,137
- Contract administrator fees$10,980
- Actuarial fees$2,080
- Total administrative expenses$586,689
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$91.0M · 42.2%
- Registered investment companies (mutual funds)$72.7M · 33.7%
- Insurance company general account$27.4M · 12.7%
- U.S. Government securities$10.9M · 5.0%
- Corporate debt instruments$10.4M · 4.8%
- Receivables$1.6M · 0.8%
- Participant loans$1.4M · 0.7%
- Cash (interest and non-interest bearing)$115K · 0.1%
- Buildings and other property used in plan operation$73K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmSchultheis & Panettieri, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan
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 |
|---|---|---|---|---|
| Dimarco Group Retirement Plan | The Dimarco Group, LLC | 755 | $44.7M | $59,181 |
| JRM Construction Management Employee Stock Ownership Plan | JRM Construction Management | 711 | $64.2M | $90,296 |
| JRM Construction Management 401(k) Plan | JRM Construction Management, LLC | 771 | $53.6M | $69,503 |
| US Information Systems 401(k) Plan | United States Information Systems, Inc. | 703 | $47.4M | $67,359 |
| Laborers Local 754 Annuity Plan | Trustees of Laborers Local 754 Annuity Plan | 878 | $19.4M | $22,111 |
| Lechase Companies 401(k) Salary Savings Trust | Lechase Construction Services, LLC | 694 | $101M | $145,409 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Annuity Fund of Heat and Frost Insulators Local 12?
724 participants at the end of the plan year ending 31 Dec 2025, of whom 415 were active employees, with net assets of $215,197,237. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Board of Trustees Annuity Fund of Heat and Frost Insulators Local 12 contribute per participant?
The filing reports $6,464,844 in employer contributions for the year, which is $15,578 per active participant; the median for plans of the same type and size was $1,934 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 $482,827 in compensation to service provider organisations, $667 per participant or 0.22% of net assets. The same-size median among plans reporting any Schedule C compensation was $113 per participant. Administrative expenses on Schedule H were $586,689. 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 Annuity Fund of Heat and Frost Insulators Local 12. Recordkeeping or administration: John Hancock Retirement Plan Srvcs and Zenith American Solutions. Investment advisory or management: John Hancock Retirement Plan Srvcs, Mackay Shields LLC and Reynolds Consulting Services LLC. Trustee or custodian: M&T Bank. The financial statements were audited by Schultheis & Panettieri, 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 2025 to 31 Dec 2025, received by the Department of Labor on 30 Jul 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 13-6101711, plan 001, received 30 Jul 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.