Other · DOL Form 5500 · 2023

Operating Engineers Local 428 Annuity Trust Fund Retirement Plan

Data updated 2026-08-25

$291M
Total assets Near avg plan size
7,670
Participants Very large workforce
96th
Percentile by assets National rank
$37,983
Avg per participant Low balance/head
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Official DOL plan name: Operating Engineers Local 428 Annuity Trust Fund · Sponsored by Operating Engineers Local 428 Annuity Trust Fund · Arizona · Construction

$291M in assets, 7,670 participants

Operating Engineers Local 428 Annuity Trust Fund's Operating Engineers Local 428 Annuity Trust Fund reported $291M in total assets and 7,670 participants in its 2023 DOL Form 5500 filing, ranking in the 96th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,604 in Construction (9,030 peers)

Coverage in Arizona

Operating Engineers Local 428 Annuity Trust Fund covers 7,670 participants in Arizona, 14x the typical Arizona plan (state average ~564 per filing). Assets: $291M.

#8,604
in Construction (9,030 peers)
+13.6%
assets growth YoY
2.9×
vs typical plan assets (national mean)

Operating Engineers Local 428 Annuity Trust Fund's outsized position by total assets

Operating Engineers Local 428 Annuity Trust Fund vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$291,333,345 Top 4% higher than 96% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Operating Engineers Local 428 Annuity Trust Fund's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Operating Engineers Local 428 Annuity Trust Fund lands in the large band (7,670 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Operating Engineers Local 428 Annuity Trust Fund reported net income rose from -$49M in the plan year 2022 filing to $35M in the plan year 2023 filing.
  • Operating Engineers Local 428 Annuity Trust Fund end-of-year assets rose from $256M in the plan year 2022 filing to $291M in the plan year 2023 filing.
  • Operating Engineers Local 428 Annuity Trust Fund reported participants rose from 7,538 in the plan year 2022 filing to 7,670 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 866025732 · Operating Engineers Local 428 Annuity Trust Fund PY 2023 · Other

Operating Engineers Local 428 Annuity Trust Fund · $291M · 7,670 · 96th

  • BOOK $291M
  • BOOK 7,670
  • BOOK 96th
  • BOOK Other
  • BOOK near Tulane University Staff 403(b) Retirement Plan
  • BOOK ind #8604

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Construction retirement plans → · Plans in Arizona →

Operating Engineers Local 428 Annuity Trust Fund in the asset neighbourhood

Gbmc, Inc. Voluntary 403(b) PlanGbmc, Inc. Voluntary 403(b) …$292MMaryland Electrical Industry Severance & Annuity FMaryland Electrical Industry…$292MOccidental College 403(b) Retirement PlanOccidental College 403(b) Re…$291MTulane University Staff 403(b) Retirement PlanTulane University Staff 403(…$291MOperating Engineers Local 428 Annuity Trust FundOperating Engineers Local 42…$291M
End-of-year total assets ($M) among Operating Engineers Local 428 Annuity Trust Fund and nearest nationwide Other peers. Source: DOL Form 5500 plan year 2023.

Arizona filing particulars

Total Assets (Beginning of Year)$256M
Net Assets (End of Year)$291M
Net Income$35M
Employer EIN866025732
Plan Effective Date1985-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Operating Engineers Local 428 Annuity Trust Fund)

Sponsor-wide plan assets over time

All Operating Engineers Local 428 Annuity Trust Fund plans reported in each filing year

Latest sponsor-wide plan assets
$330M 18.814453066478595% vs 2022
2024 filing year
$260M$280M$300M$320M$340M 202220232024 $278M $330M ▲ +18.8%
Year Plans Participants Total Assets
2022 2 7,554 $278M
2023 2 7,682 $311M
2024 2 7,789 $330M

Nearby Other Plans in Arizona

Peer Other plans, same state, same plan type, ranked by total assets.

Operating Engineers Local 428 Annuity Trust Fund vs. nearby Other plans in Arizona, assets vs. participants Scatter plot of 6 data points. 050001000015000 00.511.5 Total assets ($B) Participants Operating Engineers Local 428 Annuity Trust Fund, Total assets ($B): 0.291333345 · Participants: 7670Operating Engineers Local 428 Annuity Trust FundHonor Health 403(b) Retirement Security Plan, Total assets ($B): 1.023668486 · Participants: 13597Honor Health 403(b) Retirement Security PlanBanner Health Employees 403(b) Plan, Total assets ($B): 0.163501548 · Participants: 11018Banner Health Employees 403(b) PlanEl Rio Santa Cruz Neighborhood Health Center, Inc. Retirement Plan, Total assets ($B): 0.149956482 · Participants: 1887El Rio Santa Cruz Neighborhood Health Center, Inc. Retirement PlanKingman Regional Medical Center Employee Retirement Plan, Total assets ($B): 0.107432825 · Participants: 1914Kingman Regional Medical Center Employee Retirement PlanSummit Healthcare Regional Medical Center Performance Based Flexible Contribution Retirement Plan, Total assets ($B): 0.051307515 · Participants: 1183Summit Healthcare Regional Medical Center Performance Based Flexible Contribution Retirement Plan
Operating Engineers Local 428 Annuity Trust Fund vs. nearby Other plans in Arizona, assets vs. participants

Scale composition for Operating Engineers Local 428 Annuity Trust Fund

Operating Engineers Local 428 Annuity Trust Fund reports $291M in end-of-year assets across 7,670 participants (0.002% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.008% of 93,925,755 covered participants) - about $37,983 per participant (27% of the national average assets-per-participant) . Net income for plan year 2023 was $35M.

This plan identity (EIN 866025732, plan #002) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $256M to $313M (+22.3%) while covered participants moved from 7,538 to 7,789 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 7,538 $256M Open filing
2023 7,670 $291M This page
2024 · index core 7,789 $313M Open filing

The same sponsor also keeps 1 other index-core plan on PlainRetire:

Operating Engineers Local 428 Annuity Trust Fund's out-of-state Other peers by assets and headcount

Outside Arizona, the nearest Other by assets is Tulane University Staff 403(b) Retirement Plan in LA ($291M); by covered participants it is Lahey Clinic 403(b) Retirement Savings Plan in MA (7,725 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($291M here).

Similar participant headcount

Nearest other-state filings by covered participants (7,670 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Operating Engineers Local 428 Annuity Trust Fund assets move in 2023?
Operating Engineers Local 428 Annuity Trust Fund grew at a solid clip - up 13.6% during 2023, from $256M to $291M. Reported net income was $35M.
How have Operating Engineers Local 428 Annuity Trust Fund plan assets changed over time?
Across 3 plan years on file (2022-2024), Operating Engineers Local 428 Annuity Trust Fund's sponsor-wide assets grew 18.8%, from $278M to $330M.
Where does Operating Engineers Local 428 Annuity Trust Fund rank by assets among Form 5500 filers?
Operating Engineers Local 428 Annuity Trust Fund ranks in the 96th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which Other plans are similar in size to Operating Engineers Local 428 Annuity Trust Fund?
Among Other plans in other states, the closest by assets is Tulane University Staff 403(b) Retirement Plan in LA ($291M, 3,064 participants).
Which Other plans cover a similar participant headcount to Operating Engineers Local 428 Annuity Trust Fund?
Among Other plans in other states, the closest by covered participants is Lahey Clinic 403(b) Retirement Savings Plan in MA (7,725 participants, N/A in assets).