California › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
Laborers Pension Trust Fund for Northern California
Sponsored by Board of Trustees Laborers Pension Trust Fund for Northern California, Pleasanton, 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.
In the plan year ending 31 May 2025, Laborers Pension Trust Fund for Northern California covered 44,826 participants and held $5.45B in net assets. The plan is a defined benefit pension plan sponsored by Board of Trustees Laborers Pension Trust Fund for Northern California of Pleasanton, California. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $121,670 per participant, well above the $88,040 median for defined benefit plans with 25,000 or more participants and above 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 $361M for the year ($17,526 per active participant) and benefits paid were $236M. 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 15 service provider organisations paid $5,000 or more, with reported compensation of $13.5M: $301 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $16.2M. 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 $1.27B in 2009 to $5.45B in 2024 (up 329%), and participants from 29,203 to 44,826 (up 53%).
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 | $121,670 | $88,040 | $100,593 | $86,221 |
| Employer contributions per active participant | $17,526 | $6,524 | $13,292 | $10,244 |
| Schedule C compensation per participant | $301 | $143 | $443 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.26% | 0.46% | 0.42% |
| Administrative expenses per participant | $360 | $306 | $596 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 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 | 44,826 | $5.45B | $121,670 | $361M | — | $13.5M |
| 2023 | 44,923 | $4.94B | $109,863 | $354M | — | $14.0M |
| 2022 | 43,881 | $4.49B | $102,374 | $336M | — | $11.6M |
| 2021 | 43,616 | $4.42B | $101,307 | $328M | — | $12.3M |
| 2020 | 42,095 | $4.12B | $97,841 | $323M | — | $10.9M |
| 2019 | 42,499 | $3.42B | $80,460 | $334M | — | $9.6M |
| 2018 | 41,295 | $3.09B | $74,815 | $339M | — | $8.9M |
| 2017 | 39,685 | $2.81B | $70,743 | $331M | — | $10.5M |
| 2016 | 36,484 | $2.48B | $68,056 | $281M | — | $9.7M |
| 2015 | 35,753 | $2.13B | $59,629 | $263M | — | $8.8M |
| 2014 | 34,239 | $2.07B | $60,316 | $238M | — | $9.0M |
| 2013 | 31,856 | $1.90B | $59,784 | $220M | — | $9.3M |
| 2012 | 31,083 | $1.66B | $53,370 | $191M | — | $9.0M |
| 2011 | 29,976 | $1.41B | $46,993 | $142M | — | $8.7M |
| 2010 | 29,346 | $1.44B | $49,166 | $118M | — | $9.6M |
| 2009 | 29,203 | $1.27B | $43,502 | $110M | — | $8.5M |
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$4,935,392,710
- Employer contributions$360,556,487
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$360,556,487
- Total income, including investment results$770,357,102
- Benefits paid$235,593,847
- Administrative expenses$16,156,967
- Total expenses$251,750,814
- Net income$518,606,288
- Net transfers$0
- Net assets, end of year$5,453,998,998
Participants
- Active participants20,573
- Retired or separated, receiving benefits11,031
- Retired or separated, entitled to future benefits10,921
- Total participants, end of year44,826
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Laborers Fund Administration | Accounting (including auditing) | $7,701,479 | $0 |
| Tda Investment Group | Investment management | $1,835,659 | $0 |
| Meketa Fiduciary Management LLC | Consulting (pension); Investment advisory (plan) | $1,040,000 | $0 |
| State Street Global Advisors Trust | Custodial (other than securities); Custodial (securities); Actuarial | $593,087 | $0 |
| US Bank | Custodial (securities) | $492,764 | $0 |
| The Berwyn Group | Investment management | $105,902 | $305,931 |
| Ullico Investment Advisors Inc. | Investment management | $411,749 | $0 |
| Withumsmith+brown PC | Accounting (including auditing) | $250,068 | $0 |
| Brandywine Global Investment MGMT | Investment management | $153,033 | $0 |
| Bullivant Houser Bailey PC | Legal | $117,125 | $0 |
| Cbre | Investment advisory (plan) | $113,403 | $0 |
| Final Option Corp. | Copying and duplicating | $112,650 | $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
- Contract administrator fees$7,701,479
- Investment advisory and management fees$4,488,486
- Other administrative expenses$2,731,057
- Trustee and custodial fees$492,764
- Legal fees$252,621
- IQPA audit fees$250,068
- Actuarial fees$234,639
- Other trustee fees and expenses$5,853
- Total administrative expenses$16,156,967
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.
- Partnership/joint venture interests$2.49B · 45.5%
- Common/collective trusts$1.52B · 27.7%
- Registered investment companies (mutual funds)$469M · 8.6%
- Corporate debt instruments$153M · 2.8%
- U.S. Government securities$152M · 2.8%
- Cash (interest and non-interest bearing)$145M · 2.6%
- Other investments$119M · 2.2%
- 103-12 investment entities$117M · 2.1%
- Pooled separate accounts$108M · 2.0%
- Receivables$77.0M · 1.4%
- Other loans$65.0M · 1.2%
- Real estate$58.2M · 1.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWithumsmith+brown, PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the year—
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)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 236200: Nonresidential Building Construction.
Other plans of Board of Trustees Laborers Pension Trust Fund for Northern California
| Plan | Participants | Net assets |
|---|---|---|
| Laborers Annuity Plan for Northern California | 78,189 | $1.54B |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pension Trust Fund for Operating Engineers | Board of Trustees, Pension Trust Fund for Operating | 45,574 | $5.40B | $118,390 |
| Construction Laborers Pension Trust Fund for Southern California | Board of Trustees,construction Laborers Pension Trust for Southern Cal | 42,443 | $3.67B | $86,550 |
| Carpenters Pension Trust Fund for Northern California | Carpenters Pension Trust Fund | 50,394 | $6.58B | $130,475 |
| Operating Engineers Pension Trust | Board of Trustees, Operating Engineers Pension Trust | 40,018 | $3.65B | $91,257 |
| Western States Carpenters Pension Plan | Joint Board of Trustees Western States Carpenters Pension Plan | 139,574 | $11.3B | $81,223 |
| California Ironworkers Field Pension Trust | Board of Trustees, California Ironworkers Field Pension Trust Fun | 21,447 | $3.49B | $162,580 |
Defined benefit plans in construction closest in size.
Questions and answers
How big is Laborers Pension Trust Fund for Northern California?
44,826 participants at the end of the plan year ending 31 May 2025, of whom 20,573 were active employees, with net assets of $5,453,998,998. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Board of Trustees Laborers Pension Trust Fund for Northern California contribute per participant?
The filing reports $360,556,487 in employer contributions for the year, which is $17,526 per active participant; the median for plans of the same type and size was $6,524 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 $13,502,584 in compensation to service provider organisations, $301 per participant or 0.25% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $16,156,967. 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 Laborers Pension Trust Fund for Northern California. Recordkeeping or administration: Tda Investment Group. Investment advisory or management: Tda Investment Group, Meketa Fiduciary Management LLC and The Berwyn Group. Trustee or custodian: State Street Global Advisors Trust and US Bank. The financial statements were audited by Withumsmith+brown, 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 Jun 2024 to 31 May 2025, received by the Department of Labor on 16 Mar 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 94-6277608, plan 001, received 16 Mar 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.