Operating Engineers Local 428 Annuity Trust FundDC plan
OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND · PHOENIX, AZ · plan year 2024
Reported admin expense ratio · 2024
0.25%
Peer grade: D· admin costs + employer contributions vs same-size plans · how grading works
Operating Engineers Local 428 Annuity Trust Fund reported $766,206 in plan administrative expenses for 2024: 0.25% of average plan assets, higher than ~90% of peers. Employer contributions averaged $2,051 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 0.36% to 0.25%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other construction employers. By assets it is the 51st-largest of 1,285 plans among Arizona employers on file, and the 224th of 5,337 in construction.
Plan summary
Net assets, end of year$313,332,139
Participants with balances8,185
Active participants8,185
Employer contributions$16,790,494
Employee contributions—
Employer contribution per active participant$2,051
Average account balance$38,281
Benefits paid to participants$16,525,819
Plan auditUnmodified (clean) audit opinion
AuditorBALDWIN MOFFITT BEHM LLP
Plan history3
Yearassets · accounts · employer contribution
2024$313.3M · 8,185 accts · $16.8M emplr
2023$290.9M · 7,789 accts · $17.0M emplr
2022$256.0M · 7,670 accts · $13.5M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$59,442
Investment management$497,026
Audit (IQPA)$21,982
Trustee / custodial$30,583
Total administrative$766,206
Employer contributions to the Operating Engineers Local 428 Annuity Trust Fund plan · 2024
Employer contribution per active participant$2,051
Median for plans this size$4,294
2024$2,051 per active participant
2023$2,186 per active participant
2022$1,762 per active participant
Operating Engineers Local 428 Annuity Trust Fund's 2024 employer contribution ran below the $4,294 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.
Service providers · 202412
SOUTHWEST SERVICE ADMINISTRATORS · Participant communication · Recordkeeping$61,301
JP MORGAN ASSET MANAGEMENT · Investment management$124,886
LSV ASSET MANAGEMENT$110,403
VERUS ADVISORS, INC. · Pension consulting$110,376
WESTERN ASSET MANAGEMENT COMPANY · Investment management$104,898
Source: U.S. Department of Labor, Form 5500 series, EIN 866025732 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.