New Jersey › Construction › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Heavy & General Laborers' Local Unions 472 & 172 of NJ Annuity Plan
Sponsored by BD of Trustees Heavy & General Laborers' of NJ Annuity Fund, Newark, NJ
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.
BD of Trustees Heavy & General Laborers' of NJ Annuity Fund of Newark, New Jersey sponsors Heavy & General Laborers' Local Unions 472 & 172 of NJ Annuity Plan, a profit-sharing plan. Its Form 5500 for the plan year ending 31 Dec 2025 shows 15,091 participants (9,175 active) and $1.67B in net assets. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $99,700 per participant in plan year 2024, 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 $116M during the year, or $12,625 per active participant against a same-size median of $2,424; participants contributed —. Benefits paid out totalled $98.8M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $3.3M: $219 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $4.7M. 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 $517M in 2009 to $1.67B in 2025 (up 224%), and participants from 10,057 to 15,091 (up 50%).
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 | $99,700 | $64,499 | $54,962 | $53,102 |
| Employer contributions per active participant | $11,326 | $2,424 | $2,728 | $2,175 |
| Schedule C compensation per participant | $237 | $53.38 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.24% | 0.09% | 0.33% | 0.26% |
| Administrative expenses per participant | $330 | $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 |
|---|---|---|---|---|---|---|
| 2025 | 15,091 | $1.67B | $110,891 | $116M | — | $3.3M |
| 2024 | 14,981 | $1.49B | $99,700 | $103M | — | $3.6M |
| 2023 | 14,598 | $1.39B | $95,313 | $95.6M | — | $3.3M |
| 2022 | 14,307 | $1.26B | $88,402 | $88.8M | — | $3.4M |
| 2021 | 14,029 | $1.43B | $101,615 | $82.9M | — | $3.4M |
| 2020 | 13,985 | $1.31B | $93,516 | $80.0M | — | $3.4M |
| 2019 | 13,410 | $1.20B | $89,278 | $79.5M | — | $3.0M |
| 2018 | 13,193 | $1.05B | $79,505 | $72.5M | — | $3.2M |
| 2017 | 12,551 | $1.05B | $83,661 | $69.2M | — | $3.3M |
| 2016 | 12,123 | $936M | $77,233 | $62.4M | — | $3.3M |
| 2015 | 11,868 | $873M | $73,570 | $60.2M | — | $3.3M |
| 2014 | 11,585 | $843M | $72,782 | $52.7M | — | $3.0M |
| 2013 | 11,305 | $771M | $68,159 | $50.3M | — | $2.5M |
| 2012 | 10,791 | $690M | $63,959 | $45.5M | — | $2.3M |
| 2011 | 11,155 | $624M | $55,939 | $45.1M | — | $2.1M |
| 2010 | 10,924 | $582M | $53,312 | $42.1M | — | $2.0M |
| 2009 | 10,057 | $517M | $51,404 | $40.5M | — | $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$1,493,601,444
- Employer contributions$115,832,758
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$115,832,758
- Total income, including investment results$287,333,494
- Benefits paid$98,770,217
- Administrative expenses$4,695,490
- Total expenses$107,472,472
- Net income$179,861,022
- Net transfers$0
- Net assets, end of year$1,673,462,466
Participants
- Active participants9,175
- Retired or separated, receiving benefits615
- Retired or separated, entitled to future benefits5,013
- Participants with account balances15,091
- Total participants, end of year15,091
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Atalanta Sosnoff Capital LLC | Investment management | $790,832 | $0 |
| Morgan Stanley Graystone | Investment advisory (plan) | $625,532 | $0 |
| Prudential Insurance Co. | Custodial (securities); Investment management | $433,151 | $0 |
| Lord Abbett & Co. LLC | Investment management | $331,432 | $0 |
| The Bank of New York Mellon | Custodial (securities) | $220,740 | $0 |
| Income Research+management | Investment management | $179,822 | $0 |
| Manning and Napier Advisors LLC | Investment management | $149,969 | $0 |
| F/m Investments LLC | Investment management | $130,949 | $0 |
| Weaver C Barksdale & Associates Inc. | Investment management | $102,170 | $0 |
| National Investment Services | Investment management | $95,574 | $0 |
| Schultheis and Panettieri LLP | Accounting (including auditing) | $80,425 | $0 |
| Northern Trust Corporation | Investment management | $77,157 | $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$3,223,118
- Other administrative expenses$1,119,720
- Trustee and custodial fees$220,740
- IQPA audit fees$80,425
- Actuarial fees$29,000
- Legal fees$22,487
- Total administrative expenses$4,695,490
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.
- Corporate stocks$490M · 28.4%
- U.S. Government securities$408M · 23.7%
- Corporate debt instruments$353M · 20.4%
- Common/collective trusts$146M · 8.5%
- Partnership/joint venture interests$93.1M · 5.4%
- Pooled separate accounts$84.2M · 4.9%
- Registered investment companies (mutual funds)$62.5M · 3.6%
- Cash (interest and non-interest bearing)$44.1M · 2.6%
- Receivables$27.3M · 1.6%
- Participant loans$11.0M · 0.6%
- Other investments$4.9M · 0.3%
- Buildings and other property used in plan operation$533K · 0.0%
- Other loans$349K · 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 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 Jersey
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Operating Engineers Local 825 Profit Sharing Fund | Operating Engineers Local 825 Profit Sharing Fund | 12,327 | $1.51B | $122,245 |
| New Jersey Building Laborers Statewide Annuity Fund | BD of Trustees NJ Building Laborers Statewide Annuity Fund | 7,536 | $245M | $32,549 |
| Ironworkers Local 11 Annuity Fund | Ironworkers Local 11 Annuity Fund Board of Trustees | 4,481 | $373M | $83,260 |
| Elevator Constructors Union Local 1 Annuity and 401(k) Fund | BD of Tees of Elevator Constructors Union Local No. 1 Annuity & 401(k) F | 4,276 | $1.71B | $398,795 |
| Skanska USA Building Inc. Pension Benefit Plan and Trust | Skanska USA Building Inc. | 4,050 | $734M | $181,134 |
| IBEW Local Union No 102 Surety Plan | IBEW Local Union No 102 Surety Plan Board of Trustees | 3,912 | $684M | $174,957 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Heavy & General Laborers' Local Unions 472 & 172 of NJ Annuity Plan?
15,091 participants at the end of the plan year ending 31 Dec 2025, of whom 9,175 were active employees, with net assets of $1,673,462,466. 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 Heavy & General Laborers' of NJ Annuity Fund contribute per participant?
The filing reports $115,832,758 in employer contributions for the year, which is $12,625 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 $3,298,001 in compensation to service provider organisations, $219 per participant or 0.20% 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 $4,695,490. 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 Heavy & General Laborers' of NJ Annuity Fund. Investment advisory or management: Atalanta Sosnoff Capital LLC, Morgan Stanley Graystone and Prudential Insurance Co.. Trustee or custodian: Prudential Insurance Co. and The Bank of New York Mellon. 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 28 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 22-2331070, plan 001, received 28 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.