New York › Construction › 100 to 249 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Construction Industry 401(k) Plan
Sponsored by Builders Exchange of the Southern Tier, Inc., Falconer, 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.
Construction Industry 401(k) Plan is a 401(k) plan sponsored by Builders Exchange of the Southern Tier, Inc. of Falconer, New York. For the plan year ending 31 Dec 2024 it reported 215 participants, 136 of them active, and net assets of $12.4M. It is a multiple-employer plan covering the employees of more than one employer.
Net assets came to $57,886 per participant, close to the $60,185 median for defined contribution plans with 100 to 249 participants and 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 $256K during the year, or $1,881 per active participant against a same-size median of $2,447; participants contributed $407K and $1,473 arrived as rollovers and other contributions. Benefits paid out totalled $1.4M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $141K: $655 per participant, well above the same-size median of $194. Administrative expenses charged to the plan were $147K. 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 $5.4M in 2009 to $12.4M in 2024 (up 130%), and participants from 292 to 215 (down 26%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $57,886 | $60,185 | $54,962 | $53,102 |
| Employer contributions per active participant | $1,881 | $2,447 | $2,728 | $2,175 |
| Schedule C compensation per participant | $655 | $194 | $162 | $123 |
| Schedule C compensation, share of net assets | 1.1% | 0.32% | 0.33% | 0.26% |
| Administrative expenses per participant | $682 | $176 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 100 to 249 participants (21,996 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 | 215 | $12.4M | $57,884 | $256K | $407K | $141K |
| 2023 | 202 | $11.6M | $57,649 | $240K | $417K | $119K |
| 2022 | 197 | $10.3M | $52,269 | $226K | $387K | $55K |
| 2021 | 209 | $12.5M | $59,818 | $238K | $368K | $74K |
| 2020 | 200 | $11.2M | $56,020 | $236K | $343K | $71K |
| 2019 | 174 | $9.8M | $56,138 | $245K | $325K | $75K |
| 2018 | 173 | $8.0M | $46,480 | $223K | $306K | $44K |
| 2017 | 169 | $8.3M | $49,030 | $219K | $256K | $66K |
| 2016 | 240 | $8.4M | $35,071 | $342K | $304K | $81K |
| 2015 | 255 | $9.2M | $36,129 | $563K | $345K | $25K |
| 2014 | 253 | $8.8M | $34,870 | $389K | $313K | $53K |
| 2013 | 275 | $8.0M | $29,262 | $388K | $288K | $68K |
| 2012 | 301 | $7.4M | $24,688 | $364K | $374K | $61K |
| 2011 | 288 | $6.4M | $22,333 | $335K | $335K | $53K |
| 2010 | 270 | $6.1M | $22,763 | $274K | $383K | $37K |
| 2009 | 292 | $5.4M | $18,510 | $315K | $275K | $62K |
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$11,644,979
- Employer contributions$255,754
- Participant contributions$407,468
- Rollovers and other contributions$1,473
- Total contributions$664,695
- Total income, including investment results$2,338,807
- Benefits paid$1,377,158
- Administrative expenses$146,652
- Total expenses$1,527,102
- Net income$811,705
- Net transfers−$11,248
- Net assets, end of year$12,445,436
Participants
- Active participants136
- Retired or separated, receiving benefits6
- Retired or separated, entitled to future benefits73
- Participants with account balances192
- Total participants, end of year215
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Transamerica Financial Life Insuran | Recordkeeping and information management; Participant loan processing | $87,669 | $0 |
| Novem Group | Investment advisory (plan) | $18,883 | $0 |
| Tronconi Segarra & Associates | Accounting (including auditing) | $17,550 | $0 |
| Pinnacle Financial Services, Inc. | Recordkeeping and information management; Participant loan processing | $8,014 | $0 |
| 3(16) Fiduciary Services Corporatio | Plan Administrator | $5,722 | $0 |
| Lipsitz Green Scime Cambria | Accounting (including auditing) | $3,068 | $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
- Investment advisory and management fees$95,243
- Other administrative expenses$51,409
- Total administrative expenses$146,652
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.
- Pooled separate accounts$12.0M · 96.7%
- Insurance company general account$315K · 2.5%
- Receivables$59K · 0.5%
- Participant loans$27K · 0.2%
- Cash (interest and non-interest bearing)$12K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmTronconi Segarra & Assocaites, LLP
- Participant contributions reported as transmitted lateYes, $165,559
- 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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2AAge/service weighted or new comparability or similar plan3DPre-approved pension plan3HPlan sponsor(s) is (are) a member(s) of a controlled group2UMultiple-employer pension plan that is an Association Retirement Plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238900: Other Specialty Trade Contractors (including site preparation).
Other plans of Builders Exchange of the Southern Tier, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Southern Tier Building Trades Laborers Profit Sharing Plan | 1,109 | $20.7M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Stone Setters Annuity Fund Local 84 | Board of Trustees of Stone Setters | 215 | $25.7M | $119,707 |
| Westco Closet 401(k) Retirement Plan | Westco Closet Corp. DBA California Closet Co. | 213 | $17.2M | $80,646 |
| Westchester Modular Homes, Inc. Employee Stock Ownership Plan | Westchester Modular Homes, Inc. | 216 | $105M | $487,628 |
| The Beechwood Organization 401(k) Plan | BWD Mile Development LLC | 212 | $10.8M | $50,712 |
| IBEW Local #241 Annuity Plan | IBEW Local 241 | 218 | $36.1M | $165,369 |
| Hayner Hoyt Corporation 401(k) Plan | Hayner Hoyt Corporation | 211 | $23.1M | $109,532 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Construction Industry 401(k) Plan?
215 participants at the end of the plan year ending 31 Dec 2024, of whom 136 were active employees, with net assets of $12,445,436. Among defined contribution plans that places it in the 100 to 249 participants band, which held 21,996 plans in plan year 2024.
What does Builders Exchange of the Southern Tier, Inc. contribute per participant?
The filing reports $255,754 in employer contributions for the year, which is $1,881 per active participant; the median for plans of the same type and size was $2,447 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 $140,906 in compensation to service provider organisations, $655 per participant or 1.1% of net assets. The same-size median among plans reporting any Schedule C compensation was $194 per participant. Administrative expenses on Schedule H were $146,652. 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 Builders Exchange of the Southern Tier, Inc.. Recordkeeping or administration: Transamerica Financial Life Insuran, Pinnacle Financial Services, Inc. and 3(16) Fiduciary Services Corporatio. Investment advisory or management: Novem Group. The financial statements were audited by Tronconi Segarra & Assocaites, 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 from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. 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 16-0810649, plan 333, 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.