New York › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Annuity FD of the IUOE Local Union 94, 94A, 94B AFL-CIO
Sponsored by BD of Trustees Annuity Fund of the IUOE LCL Union 94, 94A, 94B AFL-CIO, 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 31 Dec 2024, Annuity FD of the IUOE Local Union 94, 94A, 94B AFL-CIO covered 7,900 participants and held $1.82B in net assets. The plan is a profit-sharing plan sponsored by BD of Trustees Annuity Fund of the IUOE LCL Union 94, 94A, 94B AFL-CIO of New York, New York. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $230,494 per participant, 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 $70.8M during the year, or $12,031 per active participant against a same-size median of $2,424; participants contributed — and $618K arrived as rollovers and other contributions. Benefits paid out totalled $99.5M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $2.4M: $305 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $3.1M. 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 $592M in 2009 to $1.82B in 2024 (up 208%), and participants from 7,269 to 7,900 (up 9%).
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 DC plans |
|---|---|---|---|---|
| Net assets per participant | $230,494 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $12,031 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $305 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.13% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $398 | $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 |
|---|---|---|---|---|---|---|
| 2024 | 7,900 | $1.82B | $230,494 | $70.8M | — | $2.4M |
| 2023 | 7,874 | $1.66B | $210,806 | $68.5M | — | $2.1M |
| 2022 | 7,842 | $1.46B | $185,971 | $64.6M | — | $1.8M |
| 2021 | 7,828 | $1.73B | $220,752 | $61.7M | — | $2.1M |
| 2020 | 7,808 | $1.56B | $199,366 | $59.9M | — | $1.9M |
| 2019 | 7,861 | $1.40B | $177,701 | $60.7M | — | $1.7M |
| 2018 | 7,820 | $1.18B | $151,428 | $58.1M | — | $1.6M |
| 2017 | 7,840 | $1.23B | $157,523 | $55.9M | — | $1.6M |
| 2016 | 7,524 | $1.09B | $144,241 | $51.7M | — | $1.7M |
| 2015 | 7,180 | $1.02B | $142,063 | $48.0M | — | $3.2M |
| 2014 | 7,033 | $1.00B | $142,819 | $45.9M | — | $3.3M |
| 2013 | 6,880 | $925M | $134,392 | $43.9M | — | $3.0M |
| 2012 | 6,869 | $782M | $113,901 | $42.4M | — | $2.8M |
| 2011 | 7,367 | $691M | $93,862 | $41.3M | — | $2.6M |
| 2010 | 7,223 | $672M | $92,992 | $39.3M | — | $1.7M |
| 2009 | 7,269 | $592M | $81,419 | $38.6M | — | $1.7M |
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$1,659,888,440
- Employer contributions$70,800,188
- Participant contributions—
- Rollovers and other contributions$618,125
- Total contributions$71,418,313
- Total income, including investment results$264,584,527
- Benefits paid$99,543,247
- Administrative expenses$3,141,153
- Total expenses$103,571,534
- Net income$161,012,993
- Net transfers$0
- Net assets, end of year$1,820,901,433
Participants
- Active participants5,885
- Retired or separated, receiving benefits331
- Retired or separated, entitled to future benefits1,664
- Participants with account balances7,900
- Total participants, end of year7,900
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Eagle Capital Management, LLC | Investment management | $388,527 | $0 |
| WCM Investment Management, LLC | Investment management | $381,830 | $0 |
| Proskauer Rose, LLP | Legal | $376,914 | $0 |
| Madison Investment Advisors, LLC | Investment management | $200,168 | $0 |
| Mackay Shields, LLC | Investment management | $141,140 | $0 |
| Stacey Braun Associates Inc. | Investment management | $140,674 | $0 |
| Schultheis & Panettieri, LLP | Accounting (including auditing) | $132,584 | $0 |
| Pitta, LLP | Legal | $104,039 | $0 |
| Collins Building Services Inc. | Other services | $85,510 | $0 |
| Morgan Stanley Smith Barney, LLC | Investment advisory (plan) | $82,500 | $0 |
| JW Thompson Investments, LLC | Consulting (general) | $78,750 | $0 |
| Congress Asset Management Co. | Investment management | $77,231 | $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$1,509,900
- Salaries and allowances$586,220
- Legal fees$481,458
- Other administrative expenses$409,819
- IQPA audit fees$80,150
- Recordkeeping fees$52,434
- Actuarial fees$21,172
- Total administrative expenses$3,141,153
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$992M · 54.4%
- Registered investment companies (mutual funds)$483M · 26.5%
- Corporate stocks$149M · 8.2%
- U.S. Government securities$88.5M · 4.9%
- Corporate debt instruments$49.4M · 2.7%
- Partnership/joint venture interests$22.0M · 1.2%
- Real estate$12.5M · 0.7%
- Receivables$11.2M · 0.6%
- Participant loans$9.0M · 0.5%
- Cash (interest and non-interest bearing)$5.3M · 0.3%
- Buildings and other property used in plan operation$188K · 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, $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
2EProfit-sharing plan2GTotal participant-directed account plan2TTotal or partial participant-directed account plan with a default investment account
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 |
|---|---|---|---|---|
| Painting Industry Annuity Fund | Board of Trustees of the Painting Industry Annuity Fund | 8,480 | $879M | $103,666 |
| Building Trades Annuity Benefit Fund | The Building Industry Electrical Contractors Association, Inc. | 7,092 | $116M | $16,398 |
| Turner Retirement Investment Plan | The Turner Corporation | 10,507 | $2.78B | $264,232 |
| Plumbers Local Union No. 1 Employee 401(k) Savings Plan | Plumbers Local Union No. 1 Employee 401(k) Savings Plan | 5,887 | $1.10B | $186,244 |
| Mason Tenders District Council Annuity Fund | Board of Trustees Mason Tenders District Council Annuity Fund | 19,994 | $932M | $46,615 |
| 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 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Annuity FD of the IUOE Local Union 94, 94A, 94B AFL-CIO?
7,900 participants at the end of the plan year ending 31 Dec 2024, of whom 5,885 were active employees, with net assets of $1,820,901,433. 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 BD of Trustees Annuity Fund of the IUOE LCL Union 94, 94A, 94B AFL-CIO contribute per participant?
The filing reports $70,800,188 in employer contributions for the year, which is $12,031 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 $2,412,711 in compensation to service provider organisations, $305 per participant or 0.13% 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 $3,141,153. 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 BD of Trustees Annuity Fund of the IUOE LCL Union 94, 94A, 94B AFL-CIO. Investment advisory or management: Eagle Capital Management, LLC, WCM Investment Management, LLC and Madison Investment Advisors, LLC. 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 2024 to 31 Dec 2024, received by the Department of Labor on 2 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 13-6817367, plan 001, received 2 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.