Defined Benefit (Pension) · DOL Form 5500 · 2023

Joint Board of Trustees Operating Engineers Local 324 Pension Plan

Data updated 2026-08-25

$1.8B
Total assets Very large vs avg
7,993
Participants Very large workforce
99th
Percentile by assets National rank
$227,588
Avg per participant Above avg balance/head
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Official DOL plan name: Operating Engineers' Local 324 Pension Fund · Sponsored by Joint Board of Trustees Operating Engineers Local 324 · Michigan · Construction

$1.8B in assets, 7,993 participants

Joint Board of Trustees Operating Engineers Local 324's Operating Engineers' Local 324 Pension Fund reported $1.8B in total assets and 7,993 participants in its 2023 DOL Form 5500 filing, ranking in the 99th 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.

  • #8,972 in Construction (9,030 peers)

Coverage in Michigan

Operating Engineers' Local 324 Pension Fund covers 7,993 participants in Michigan, 13x the typical Michigan plan (state average ~638 per filing). Assets: $1.8B.

#8,972
in Construction (9,030 peers)
+11.5%
assets growth YoY
18×
vs typical plan assets (national mean)

Operating Engineers' Local 324 Pension Fund's outsized position by total assets

Operating Engineers' Local 324 Pension Fund vs every filed plan by assets

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

$1,819,108,171 Top 1% higher than 99% 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 324 Pension 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 324 Pension Fund lands in the large band (7,993 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Operating Engineers' Local 324 Pension Fund reported net income rose from -$2M in the plan year 2022 filing to $168M in the plan year 2023 filing.
  • Operating Engineers' Local 324 Pension Fund end-of-year assets rose from $1.6B in the plan year 2022 filing to $1.8B in the plan year 2023 filing.
  • Operating Engineers' Local 324 Pension Fund reported participants rose from 7,511 in the plan year 2022 filing to 7,993 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 381900637 · Joint Board of Trustees Operating Engineers Local 324 PY 2023 · Defined Benefit (Pension)

Operating Engineers' Local 324 Pension Fund · $1.8B · 7,993 · 99th

  • RANK $1.8B
  • PHOTO 7,993
  • IND 99th
  • EOY Defined Benefit (Pension)
  • 5500 near Legacy Plan of the National Retirement Fund
  • ASSETS ind #8972

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 Michigan →

Operating Engineers' Local 324 Pension Fund in the asset neighbourhood

Operating Engineers' Local 324 Pension FundOperating Engineers' Local 3…$1.8BLegacy Plan of the National Retirement FundLegacy Plan of the National …$1.8BLiuna Staff and Affiliates Pension FundLiuna Staff and Affiliates P…$1.8BPension Plan of the Pacific Northwest Laboratories Battelle Memorial InstitutePension Plan of the Pacific …$1.8BEmployee Retirement Income Plan - Hourly WestEmployee Retirement Income P…$1.8B
End-of-year total assets ($B) among Operating Engineers' Local 324 Pension Fund and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Michigan filing particulars

Total Assets (Beginning of Year)$1.6B
Net Assets (End of Year)$1.8B
Net Income$168M
Employer EIN381900637
Plan Effective Date1957-04-15
Filing StatusFILING RECEIVED

Sponsor Plan History (Joint Board of Trustees Operating Engineers Local 324)

Sponsor-wide plan assets over time

All Joint Board of Trustees Operating Engineers Local 324 plans reported in each filing year

Latest sponsor-wide plan assets
$1.9B 18.636400093150097% vs 2022
2024 filing year
$1.5B$1.6B$1.7B$1.8B$1.9B$2B 202220232024 $1.63B $1.94B ▲ +19.0%
Year Plans Participants Total Assets
2022 1 7,511 $1.6B
2023 1 7,993 $1.8B
2024 1 8,314 $1.9B

Nearby Defined Benefit (Pension) Plans in Michigan

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Operating Engineers' Local 324 Pension Fund vs. nearby Defined Benefit (Pension) plans in Michigan, assets vs. participants Scatter plot of 6 data points. 50001000015000200002500030000 -1001020304050 Total assets ($B) Participants Operating Engineers' Local 324 Pension Fund, Total assets ($B): 1.819108171 · Participants: 7993Operating Engineers' Local 324 Pension FundGeneral Motors Hourly-Rate Employees Pension Plan, Total assets ($B): 44.838918802 · Participants: 17959General Motors Hourly-Rate Employees Pension PlanFord Motor Company UAW Retirement Plan, Total assets ($B): 19.269442236 · Participants: 26442Ford Motor Company UAW Retirement PlanFord Motor Company General Retirement Plan, Total assets ($B): 12.705910161 · Participants: 10215Ford Motor Company General Retirement PlanDow Employees' Pension Plan, Total assets ($B): 11.529460215 · Participants: 14051Dow Employees' Pension PlanFca US LLC UAW Pension Agreement, Total assets ($B): 11.155705594 · Participants: 13635Fca US LLC UAW Pension Agreement
Operating Engineers' Local 324 Pension Fund vs. nearby Defined Benefit (Pension) plans in Michigan, assets vs. participants
Compare Operating Engineers' Local 324 Pension Fund side-by-side with 3 peers →

Scale composition for Operating Engineers' Local 324 Pension Fund

Operating Engineers' Local 324 Pension Fund reports $1.8B in end-of-year assets across 7,993 participants (0.015% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.009% of 93,925,755 covered participants) - about $227,588 per participant (1.6x the national average assets-per-participant) . Net income for plan year 2023 was $168M.

This plan identity (EIN 381900637, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $1.6B to $1.9B (+18.6%) while covered participants moved from 7,511 to 8,314 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 7,511 $1.6B Open filing
2023 7,993 $1.8B This page
2024 · index core 8,314 $1.9B Open filing

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

Operating Engineers' Local 324 Pension Fund's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Michigan, the nearest Defined Benefit (Pension) by assets is Legacy Plan of the National Retirement Fund in NY ($1.8B); by covered participants it is Southern California Gas Company Pension Plan in CA (8,002 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (7,993 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 324 Pension Fund assets move in 2023? ▼
Operating Engineers' Local 324 Pension Fund grew at a solid clip - up 11.5% during 2023, from $1.6B to $1.8B. Reported net income was $168M.
How have Joint Board of Trustees Operating Engineers Local 324 plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Joint Board of Trustees Operating Engineers Local 324's sponsor-wide assets grew 18.6%, from $1.6B to $1.9B.
Where does Operating Engineers' Local 324 Pension Fund rank by assets among Form 5500 filers? ▼
Operating Engineers' Local 324 Pension Fund ranks in the 99th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to Operating Engineers' Local 324 Pension Fund? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Legacy Plan of the National Retirement Fund in NY ($1.8B, 11,294 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Operating Engineers' Local 324 Pension Fund? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Southern California Gas Company Pension Plan in CA (8,002 participants, $2.3B in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 381900637.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.