New York › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Excavators Union Local 731 Annuity Fund
Sponsored by Excavators Union Local 731 Annuity Board of Trustees, Astoria, 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.
Excavators Union Local 731 Annuity Fund is a money purchase plan sponsored by Excavators Union Local 731 Annuity Board of Trustees of Astoria, New York. For the plan year ending 31 Dec 2024 it reported 10,720 participants, 6,526 of them active, and net assets of $953M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $88,901 per participant, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and close to the $92,294 median for defined contribution plans in finance and insurance. 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 $102M during the year, or $15,650 per active participant against a same-size median of $2,424; participants contributed —. Benefits paid out totalled $65.0M.
Schedule C lists 11 service provider organisations paid $5,000 or more, with reported compensation of $1.5M: $138 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $2.8M. 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 $279M in 2009 to $953M in 2024 (up 241%), and participants from 9,348 to 10,720 (up 15%).
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 | $88,901 | $64,499 | $92,294 | $53,102 |
| Employer contributions per active participant | $15,650 | $2,424 | $3,564 | $2,175 |
| Schedule C compensation per participant | $138 | $53.38 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.16% | 0.09% | 0.17% | 0.26% |
| Administrative expenses per participant | $257 | $54.85 | $130 | $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), finance and insurance (4,391) 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 | 10,720 | $953M | $88,901 | $102M | — | $1.5M |
| 2023 | 10,344 | $848M | $81,936 | $93.0M | — | $1.2M |
| 2022 | 10,379 | $770M | $74,212 | $91.0M | — | $1.3M |
| 2021 | 10,410 | $845M | $81,166 | $84.7M | — | $1.3M |
| 2020 | 11,939 | $800M | $67,040 | $83.3M | — | $1.2M |
| 2019 | 11,850 | $715M | $60,335 | $92.2M | — | $1.1M |
| 2018 | 11,521 | $584M | $50,664 | $79.9M | — | $825K |
| 2017 | 10,502 | $585M | $55,667 | $65.0M | — | $1.1M |
| 2016 | 10,155 | $485M | $47,720 | $56.6M | — | $706K |
| 2015 | 10,157 | $438M | $43,167 | $49.5M | — | $633K |
| 2014 | 9,782 | $399M | $40,751 | $39.6M | — | $438K |
| 2013 | 9,709 | $371M | $38,170 | $35.8M | — | $375K |
| 2012 | 9,747 | $342M | $35,092 | $33.5M | — | $361K |
| 2011 | 9,675 | $320M | $33,114 | $31.1M | — | $342K |
| 2010 | 9,485 | $297M | $31,345 | $26.4M | — | $320K |
| 2009 | 9,348 | $279M | $29,868 | $23.8M | — | $199K |
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$847,545,956
- Employer contributions$102,132,193
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$102,132,193
- Total income, including investment results$173,206,968
- Benefits paid$64,977,095
- Administrative expenses$2,754,037
- Total expenses$67,731,132
- Net income$105,475,836
- Net transfers$0
- Net assets, end of year$953,021,792
Participants
- Active participants6,526
- Retired or separated, receiving benefits3,887
- Retired or separated, entitled to future benefits202
- Participants with account balances10,720
- Total participants, end of year10,720
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Morgan Stanley | Investment advisory (plan); Other services | $658,379 | $0 |
| Castiglia, LLP | Accounting (including auditing); Recordkeeping and information management | $224,844 | $0 |
| Boyd Watterson Asset Management | Investment management | $121,555 | $0 |
| Ullico | Investment management | $114,260 | $0 |
| Pacific Income Adv | Investment management | $109,164 | $0 |
| Congress Asset Management | Investment management | $98,365 | $0 |
| Reliance Trust | Investment management | $84,741 | $0 |
| The Segal Company | Actuarial | $29,375 | $0 |
| Bridgeway Benefit Tech | Consulting fees; Direct payment from the plan | $20,806 | $0 |
| Premier Technologies | Consulting fees; Direct payment from the plan | $16,895 | $0 |
| Syntonic Systems | Consulting fees; Direct payment from the plan | $5,610 | $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$971,874
- Investment advisory and management fees$866,428
- Legal fees$336,375
- Trustee and custodial fees$320,036
- IQPA audit fees$140,908
- Recordkeeping fees$83,936
- Actuarial fees$29,375
- Other trustee fees and expenses$5,105
- Total administrative expenses$2,754,037
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$367M · 38.4%
- U.S. Government securities$219M · 23.0%
- Corporate debt instruments$208M · 21.9%
- Corporate stocks$61.1M · 6.4%
- Other investments$41.4M · 4.3%
- Cash (interest and non-interest bearing)$34.1M · 3.6%
- Receivables$18.1M · 1.9%
- Partnership/joint venture interests$4.2M · 0.4%
- Buildings and other property used in plan operation$316K · 0.0%
- Registered investment companies (mutual funds)$280K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCastiglia, 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
2CMoney purchase (other than target benefit) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 525100: Insurance & Employee Benefit Funds.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Employees Savings and Retirement Plan of Credit Suisse | Credit Suisse Securities USA LLC | 10,947 | $5.43B | $496,439 |
| Flagstar Bank, National Association Employee Savings Plan | Flagstar Bank, National Association | 9,504 | $945M | $99,447 |
| Mufg Bank Ltd. 401(k) Plan | Mufg Bank, Ltd. | 12,779 | $2.86B | $223,832 |
| The 401(k) Plan | Pentegra Services, Inc. | 9,376 | $192M | $20,490 |
| The Equitable 401(k) Plan | Equitable Financial Life Insurance Company | 13,002 | $2.65B | $203,728 |
| Profit Participation Plan of Moody's Corporation | Moodys Corporation | 8,244 | $2.08B | $252,887 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Excavators Union Local 731 Annuity Fund?
10,720 participants at the end of the plan year ending 31 Dec 2024, of whom 6,526 were active employees, with net assets of $953,021,792. 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 Excavators Union Local 731 Annuity Board of Trustees contribute per participant?
The filing reports $102,132,193 in employer contributions for the year, which is $15,650 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 $1,483,994 in compensation to service provider organisations, $138 per participant or 0.16% 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 $2,754,037. 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 Excavators Union Local 731 Annuity Board of Trustees. Recordkeeping or administration: Castiglia, LLP. Investment advisory or management: Morgan Stanley, Boyd Watterson Asset Management and Ullico. The financial statements were audited by Castiglia, 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 9 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 51-0136348, plan 001, received 9 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.