California › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Southwest Carpenters Annuity Fund
Sponsored by Board of Trustees, Southwest Carpenters Annuity Fund, Los Angeles, CA
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.
Southwest Carpenters Annuity Fund is a profit-sharing plan sponsored by Board of Trustees, Southwest Carpenters Annuity Fund of Los Angeles, California. For the plan year ending 31 Dec 2024 it reported 93,934 participants, 91,004 of them active, and net assets of $1.13B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $12,074 per participant, well below the $62,774 median for defined contribution plans with 25,000 or more participants and well below 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 $178M during the year, or $1,954 per active participant against a same-size median of $2,417; participants contributed — and $171K arrived as rollovers and other contributions. Benefits paid out totalled $43.6M.
Schedule C lists 10 service provider organisations paid $5,000 or more, with reported compensation of $3.8M: $40.86 per participant, above the same-size median of $36.41. Administrative expenses charged to the plan were $3.2M. 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 $392M in 2021 to $1.13B in 2024 (up 190%), and participants from 48,136 to 93,934 (up 95%).
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 | $12,074 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $1,954 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $40.86 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.34% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $33.60 | $38.81 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 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 | 93,934 | $1.13B | $12,074 | $178M | — | $3.8M |
| 2023 | 62,085 | $707M | $11,383 | $120M | — | $3.7M |
| 2022 | 55,201 | $468M | $8,478 | $93.0M | — | $2.7M |
| 2021 | 48,136 | $392M | $8,137 | $66.8M | — | $1.9M |
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$706,706,989
- Employer contributions$177,824,389
- Participant contributions—
- Rollovers and other contributions$170,901
- Total contributions$177,995,290
- Total income, including investment results$259,262,995
- Benefits paid$43,575,130
- Administrative expenses$3,156,317
- Total expenses$46,731,447
- Net income$212,531,548
- Net transfers$214,905,110
- Net assets, end of year$1,134,143,647
Participants
- Active participants91,004
- Retired or separated, receiving benefits282
- Retired or separated, entitled to future benefits1,458
- Participants with account balances84,697
- Total participants, end of year93,934
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Carpenters Services Admin. Corp. | Contract Administrator | $3,044,994 | $0 |
| Empower | Recordkeeping and information management; Custodial (securities) | $400,316 | $0 |
| Meketa Investment Group | Investment advisory (plan) | $125,000 | $0 |
| Shanley Apc | Legal | $117,122 | $0 |
| Union Press Printing | Copying and duplicating | $70,323 | $0 |
| Calibre CPA Group, PLLC | Accounting (including auditing) | $26,265 | $0 |
| Wpas Inc. | Contract Administrator; Plan Administrator | $21,764 | $0 |
| Segal Advisors Inc. | Other services | $14,750 | $0 |
| Advised Assets Group, LLC | Investment management | $11,152 | $0 |
| Lexisnexis | Other services | $6,579 | $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
- Contract administrator fees$1,668,742
- Recordkeeping fees$992,431
- Other administrative expenses$207,567
- Legal fees$144,987
- Investment advisory and management fees$125,000
- IQPA audit fees$14,394
- Other trustee fees and expenses$3,196
- Total administrative expenses$3,156,317
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$1.02B · 89.4%
- Common/collective trusts$37.7M · 3.3%
- Insurance company general account$24.3M · 2.1%
- Registered investment companies (mutual funds)$21.1M · 1.9%
- Cash (interest and non-interest bearing)$20.2M · 1.8%
- Receivables$17.5M · 1.5%
- Participant loans$61K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- 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
2EProfit-sharing plan2HPartial 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 238100: Foundation, Structure, & Building Exterior Contractors (including framing carpentry, masonry, glass, roofing, & siding).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Laborers Annuity Plan for Northern California | Board of Trustees Laborers Pension Trust Fund for Nor Cal-Annuity | 78,189 | $1.54B | $19,659 |
| Carpenters Annuity Trust Fund for Northern California | Carpenters Annuity Trust Fund for Northern California | 64,162 | $3.48B | $54,266 |
| Construction Laborers Annuity Plan for Southern California | Board of Trustees,construction Laborers Annuity Plan for Southern Cali | 51,834 | $272M | $5,254 |
| Southern California Ibew-Neca Defined Contribution Plan | Board of Trustees, Southern California Ibew-Neca | 29,361 | $1.28B | $43,617 |
| Pension Trust Fund for Operating Engineers Annuity Plan | Board of Trustees, Operating Engineers Annuity Plan | 28,957 | $654M | $22,590 |
| California Iron Workers Field Defined Contribution Pension Trust Fund | Board of Trustees, California Iron Workers Field Defined Contribution | 27,522 | $1.29B | $46,999 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is Southwest Carpenters Annuity Fund?
93,934 participants at the end of the plan year ending 31 Dec 2024, of whom 91,004 were active employees, with net assets of $1,134,143,647. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Board of Trustees, Southwest Carpenters Annuity Fund contribute per participant?
The filing reports $177,824,389 in employer contributions for the year, which is $1,954 per active participant; the median for plans of the same type and size was $2,417 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 $3,838,265 in compensation to service provider organisations, $40.86 per participant or 0.34% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $3,156,317. 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 Board of Trustees, Southwest Carpenters Annuity Fund. Recordkeeping or administration: Carpenters Services Admin. Corp., Empower and Wpas Inc.. Investment advisory or management: Meketa Investment Group and Advised Assets Group, LLC. Trustee or custodian: Empower. The financial statements were audited by Calibre CPA Group, PLLC. 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 14 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 88-0135694, plan 002, received 14 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.