New York › Construction › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Bac Local #5 New York Pension Plan
Sponsored by Bac Local #5 New York Pension Plan, Rego Park, 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.
Bac Local #5 New York Pension Plan of Rego Park, New York sponsors Bac Local #5 New York Pension Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 673 participants (69 active) and $64.0M in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $95,083 per participant, above the $86,583 median for defined benefit plans with 500 to 999 participants and below the $100,593 median for defined benefit 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.
Employer contributions were $697K for the year ($10,101 per active participant) and benefits paid were $5.2M. 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 9 service provider organisations paid $5,000 or more, with reported compensation of $424K: $631 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $1.7M. 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 $32.2M in 2009 to $64.0M in 2024 (up 99%), and participants from 1,017 to 673 (down 34%).
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 | $95,083 | $86,583 | $100,593 | $86,221 |
| Employer contributions per active participant | $10,101 | $10,758 | $13,292 | $10,244 |
| Schedule C compensation per participant | $631 | $377 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.66% | 0.48% | 0.46% | 0.42% |
| Administrative expenses per participant | $2,516 | $591 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), construction (655) 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 | 673 | $64.0M | $95,083 | $697K | — | $424K |
| 2023 | 701 | $64.2M | $91,588 | $726K | — | $463K |
| 2022 | 744 | $61.7M | $82,934 | $800K | — | $302K |
| 2021 | 795 | $4.5M | $5,699 | $928K | — | $213K |
| 2020 | 801 | $8.6M | $10,685 | $969K | — | $206K |
| 2019 | 821 | $12.1M | $14,771 | $1.2M | — | $263K |
| 2018 | 842 | $14.1M | $16,800 | $2.2M | — | $285K |
| 2017 | 863 | $17.7M | $20,487 | $2.1M | — | $266K |
| 2016 | 900 | $18.4M | $20,499 | $2.8M | — | $325K |
| 2015 | 898 | $20.5M | $22,872 | $2.1M | — | $318K |
| 2014 | 913 | $23.4M | $25,614 | $1.9M | — | $356K |
| 2013 | 944 | $25.6M | $27,093 | $1.8M | — | $350K |
| 2012 | 951 | $26.1M | $27,475 | $2.0M | — | $301K |
| 2011 | 965 | $27.2M | $28,189 | $2.0M | — | $366K |
| 2009 | 1,017 | $32.2M | $31,618 | $2.0M | — | $203K |
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$64,202,817
- Employer contributions$696,970
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$696,970
- Total income, including investment results$6,695,474
- Benefits paid$5,214,510
- Administrative expenses$1,693,121
- Total expenses$6,907,631
- Net income−$212,157
- Net transfers$0
- Net assets, end of year$63,990,660
Participants
- Active participants69
- Retired or separated, receiving benefits368
- Retired or separated, entitled to future benefits131
- Total participants, end of year673
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Merrill Lynch Pierce Fenner & Smith | Investment advisory (plan) | $231,998 | $0 |
| The Segal Company (Eastern States), | Actuarial | $60,000 | $0 |
| Pension and Annuity Plan of Brickla | Plan Administrator | $46,960 | $0 |
| Teal, Becker, & Chiaramonte CPAS PC | Accounting (including auditing) | $38,125 | $0 |
| Schultheis & Panettieri LLP | Recordkeeping and information management | $13,658 | $0 |
| Barnes, Iaccarino & Shepherd, LLP | Legal | $9,108 | $0 |
| Bank of America | Trustee (bank, trust company, or similar financial institution) | $8,851 | $0 |
| TCW Group Inc. | Investment management | $8,100 | $0 |
| Boston Partners | Investment management | $7,575 | $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
- Other administrative expenses$1,269,334
- Investment advisory and management fees$259,072
- Actuarial fees$59,300
- Contract administrator fees$44,111
- IQPA audit fees$38,125
- Recordkeeping fees$13,658
- Legal fees$9,108
- Trustee and custodial fees$413
- Total administrative expenses$1,693,121
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.
- Registered investment companies (mutual funds)$21.0M · 32.7%
- Corporate debt instruments$18.0M · 28.0%
- U.S. Government securities$16.0M · 24.9%
- Corporate stocks$6.1M · 9.5%
- Cash (interest and non-interest bearing)$2.2M · 3.4%
- Receivables$954K · 1.5%
- Buildings and other property used in plan operation$3,742 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmTeal, Becker & Chiaramonte CPAS, PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $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
1BBenefits are primarily flat dollar (includes dollars per year of service)1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 237310: Highway, Street, & Bridge.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Structure-Tone, Inc. Pension Plan | Global Infrastructure Solutions Inc. | 690 | $84.6M | $122,609 |
| Bricklayers & Allied Craftworkers Local No 3 NY Niagara Falls-Buffalo Chapter Pension Plan | Trustees of Bricklayers & Allied Craft Workers Lo 3 NY Niagara Falls-B | 667 | $26.6M | $39,929 |
| Local 73 Retirement Fund | Local 73 Retirement Fund | 756 | $71.2M | $94,185 |
| Cemetery Workers Supplemental Pension Plan | Trustees of the Cemetery Workers Supplemental Pens- | 641 | $47.6M | $74,245 |
| Roofers Local No. 74/ No. 203 Pension Plan | Board of Trustees, Roofers Local No. 74/NO. 203 Pension Fund | 798 | $71.4M | $89,415 |
| Plumbers & Steamfitters Pension Fund Local Union 373 | Board of Trustees Local Union 373 U.A. Pension Fund | 626 | $74.1M | $118,444 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Bac Local #5 New York Pension Plan?
673 participants at the end of the plan year ending 31 Dec 2024, of whom 69 were active employees, with net assets of $63,990,660. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Bac Local #5 New York Pension Plan contribute per participant?
The filing reports $696,970 in employer contributions for the year, which is $10,101 per active participant; the median for plans of the same type and size was $10,758 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 $424,375 in compensation to service provider organisations, $631 per participant or 0.66% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $1,693,121. 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 Bac Local #5 New York Pension Plan. Recordkeeping or administration: Pension and Annuity Plan of Brickla and Schultheis & Panettieri LLP. Investment advisory or management: Merrill Lynch Pierce Fenner & Smith, TCW Group Inc. and Boston Partners. Trustee or custodian: Bank of America. The financial statements were audited by Teal, Becker & Chiaramonte CPAS, 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 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 10 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 14-6016608, plan 001, received 10 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.