California › Construction › 25,000 or more participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
Laborers Annuity Plan for Northern California
Sponsored by Board of Trustees Laborers Pension Trust Fund for Nor Cal-Annuity, 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.
Laborers Annuity Plan for Northern California is a money purchase plan sponsored by Board of Trustees Laborers Pension Trust Fund for Nor Cal-Annuity of Pleasanton, California. For the plan year ending 31 May 2025 it reported 78,189 participants, 29,190 of them active, and net assets of $1.54B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $19,659 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 $152M during the year, or $5,209 per active participant against a same-size median of $2,417; participants contributed —. Benefits paid out totalled $83.1M.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $3.7M: $47.46 per participant, well above the same-size median of $36.41. Administrative expenses charged to the plan were $3.4M. 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 $243M in 2009 to $1.54B in 2024 (up 532%), and participants from 54,295 to 78,189 (up 44%).
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 | $19,659 | $62,774 | $54,962 | $53,102 |
| Employer contributions per active participant | $5,209 | $2,417 | $2,728 | $2,175 |
| Schedule C compensation per participant | $47.46 | $36.41 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.24% | 0.07% | 0.33% | 0.26% |
| Administrative expenses per participant | $43.14 | $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 | 78,189 | $1.54B | $19,659 | $152M | — | $3.7M |
| 2023 | 79,949 | $1.37B | $17,194 | $154M | — | $3.8M |
| 2022 | 76,626 | $1.22B | $15,858 | $152M | — | $3.1M |
| 2021 | 75,824 | $1.13B | $14,948 | $156M | — | $2.5M |
| 2020 | 74,580 | $1.06B | $14,249 | $142M | — | $2.1M |
| 2019 | 72,586 | $865M | $11,922 | $134M | — | $2.0M |
| 2018 | 69,552 | $714M | $10,260 | $125M | — | $2.0M |
| 2017 | 65,339 | $579M | $8,855 | $113M | — | $1.7M |
| 2016 | 64,998 | $475M | $7,301 | $68.0M | — | $1.3M |
| 2015 | 70,842 | $381M | $5,383 | $44.7M | — | $1.0M |
| 2014 | 63,728 | $348M | $5,460 | $31.3M | — | $1.0M |
| 2013 | 58,174 | $322M | $5,541 | $14.3M | — | $907K |
| 2012 | 55,600 | $305M | $5,482 | $15.0M | — | $890K |
| 2011 | 54,408 | $281M | $5,164 | $22.5M | — | $908K |
| 2010 | 54,569 | $272M | $4,988 | $19.7M | — | $957K |
| 2009 | 54,295 | $243M | $4,479 | $19.9M | — | $725K |
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$1,374,682,627
- Employer contributions$152,041,199
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$152,041,199
- Total income, including investment results$248,902,140
- Benefits paid$83,085,503
- Administrative expenses$3,373,403
- Total expenses$86,458,906
- Net income$162,443,234
- Net transfers$0
- Net assets, end of year$1,537,125,861
Participants
- Active participants29,190
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits47,967
- Participants with account balances78,189
- Total participants, end of year78,189
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Laborers Fund Administration | Contract Administrator | $1,259,716 | $0 |
| McMorgan & Company LLC | Investment management | $986,328 | $0 |
| Mackay Shields LLC | Investment management | $0 | $492,712 |
| Meketa Investment Group | Investment advisory (plan) | $270,000 | $0 |
| U.S Bank National Association | Custodial (securities) | $144,231 | $0 |
| The Union Labor Life Insurance Comp | Investment management | $113,329 | $0 |
| Ullico Investment Advisors Inc. | Insurance agents and brokers | $102,316 | $0 |
| Withumsmith+brown, PC | Accounting (including auditing) | $98,374 | $0 |
| State Street Global Advisors | Investment management | $82,547 | $0 |
| Marsh & McLennan Companies Inc. | Insurance agents and brokers; Insurance services | $0 | $40,151 |
| The Segal Company | Consulting (general) | $37,214 | $0 |
| Bullivant Houser Bailey PC | Legal | $34,610 | $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$1,721,611
- Salaries and allowances$1,259,716
- Other administrative expenses$187,432
- IQPA audit fees$98,374
- Legal fees$69,426
- Actuarial fees$36,844
- Total administrative expenses$3,373,403
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 debt instruments$428M · 27.4%
- Common/collective trusts$365M · 23.4%
- Partnership/joint venture interests$313M · 20.0%
- U.S. Government securities$249M · 15.9%
- Registered investment companies (mutual funds)$101M · 6.5%
- Receivables$29.2M · 1.9%
- Other investments$23.8M · 1.5%
- Pooled separate accounts$21.2M · 1.4%
- Cash (interest and non-interest bearing)$17.7M · 1.1%
- 103-12 investment entities$12.8M · 0.8%
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 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 236200: Nonresidential Building Construction.
Other plans of Board of Trustees Laborers Pension Trust Fund for Nor Cal-Annuity
| Plan | Participants | Net assets |
|---|---|---|
| Laborers Pension Trust Fund for Northern California | 44,826 | $5.45B |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Southwest Carpenters Annuity Fund | Board of Trustees, Southwest Carpenters Annuity Fund | 93,934 | $1.13B | $12,074 |
| 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 Laborers Annuity Plan for Northern California?
78,189 participants at the end of the plan year ending 31 May 2025, of whom 29,190 were active employees, with net assets of $1,537,125,861. 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 Laborers Pension Trust Fund for Nor Cal-Annuity contribute per participant?
The filing reports $152,041,199 in employer contributions for the year, which is $5,209 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 $3,710,770 in compensation to service provider organisations, $47.46 per participant or 0.24% 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 $3,373,403. 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 Nor Cal-Annuity. Recordkeeping or administration: Laborers Fund Administration. Investment advisory or management: McMorgan & Company LLC, Mackay Shields LLC and Meketa Investment Group. Trustee or custodian: U.S Bank National Association. 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 002, 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.