Bac Local 5 New York Annuity PlanProfit-sharing plan
BAC LOCAL 5 NEW YORK ANNUITY PLAN · REGO PARK, NY · plan year 2024
Reported admin expense ratio · 2024
0.96%
Peer grade: D· admin costs + employer contributions vs same-size plans · how grading works
Bac Local 5 New York Annuity Plan reported $229,638 in plan administrative expenses for 2024: 0.96% of average plan assets, higher than ~90% of peers. Employer contributions averaged $873 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 1.08% to 0.96%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other construction employers. By assets it is the 2,187th-largest of 5,648 plans among New York employers on file, and the 1,725th of 5,337 in construction.
Plan summary
Net assets, end of year$25,221,035
Participants with balances1,723
Active participants1,324
Employer contributions$1,155,980
Employee contributions—
Employer contribution per active participant$873
Average account balance$14,638
Benefits paid to participants$1,376,985
Plan auditUnmodified (clean) audit opinion
AuditorTEAL, BECKER & CHIARAMONTE CPAS, PC
Plan history3
Yearassets · accounts · employer contribution
2024$25.2M · 1,723 accts · $1.2M emplr
2023$22.6M · 1,806 accts · $1.3M emplr
2022$19.8M · 1,820 accts · $1.4M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$47,756
Investment management$127,018
Audit (IQPA)$23,000
Trustee / custodial$326
Total administrative$229,638
Employer contributions to the Bac Local 5 New York Annuity Plan plan · 2024
Employer contribution per active participant$873
Median for plans this size$2,416
2024$873 per active participant
2023$930 per active participant
2022$990 per active participant
Bac Local 5 New York Annuity Plan's 2024 employer contribution ran below the $2,416 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
What these fees cost you
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Source: U.S. Department of Labor, Form 5500 series, EIN 237107109 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.