Profit Sharing · DOL Form 5500 · 2024

Board of Trustees Local 580 Annuity Fund Profit Sharing Plan

Data updated 2026-08-06

$663M
Total assets: 3,126
Participants: 98th
Percentile by assets: $211,997
Avg per participant

Official DOL plan name: Local 580 Annuity Fund · Sponsored by Board of Trustees Local 580 Annuity Fund · New York · Construction

$663M in assets, 3,126 participants

Board of Trustees Local 580 Annuity Fund's Local 580 Annuity Fund reported $663M in total assets and 3,126 participants in its 2024 DOL Form 5500 filing, ranking in the 98th 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.

98th percentile by assets (of 116,472 plans)

Coverage in New York

Local 580 Annuity Fund covers 3,126 participants in New York, 3.9x the typical New York plan (state average ~795 per filing). Assets: $663M.

$663M
total plan assets (2024 EOY): 3,126
covered participants: 98th
percentile by assets (of 116,472 plans): $211,997
avg assets per participant

The plan reported a net loss of $23M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Local 580 Annuity Fund reported net income fell from -$9M in the plan year 2023 filing to -$23M in the plan year 2024 filing.
Local 580 Annuity Fund end-of-year assets fell from $703M in the plan year 2023 filing to $663M in the plan year 2024 filing.
Local 580 Annuity Fund reported participants fell from 3,222 in the plan year 2023 filing to 3,126 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

New York

Industry

Construction

Participants vs New York filers

In New York, the average filing covers about 795 participants across 8,491 plans. Local 580 Annuity Fund reports 3,126 participants - 3.9x that state average ($663M EOY assets).

New York filing particulars

Total Assets (Beginning of Year)	$703M
Net Assets (End of Year)	$663M
Net Income	-$23M
Employer EIN	136178512
Plan Effective Date	1964-01-24
Filing Status	FILING RECEIVED

Sponsor Plan History (Board of Trustees Local 580 Annuity Fund)

Total plan assets by year, all Board of Trustees Local 580 Annuity Fund plans on file

Year	Plans	Participants	Total Assets
2022	2	6,792	$1.4B
2023	2	6,444	$1.4B
2024	1	3,126	$663M

Nearby Profit Sharing Plans in New York

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

Local 580 Annuity Fund vs. nearby Profit Sharing plans in New York, assets vs. participants

Annuity Fund Iuoe Local 15, 15a, 15c, 15d AFL-CIO $2.1B · 3,278
Annuity Fd of the Iuoe Local Union 94, 94a, 94b AFL-CIO $1.8B · 5,817
The Research Foundation for the State University of New York Retirement Plan $1.3B · 9,758
Rochester Regional Health 403(b) Defined Contribution Plan $987M · 15,432
Mason Tenders District Council Annuity Fund $944M · 11,824

Compare Local 580 Annuity Fund side-by-side with 3 peers →

Similar-Sized Profit Sharing Plans Nationally

Profit Sharing plans in other states closest to Local 580 Annuity Fund by total assets, not by location.

Sheet Metal Workers Local 17 Annuity Income Fund (MA) $656M · 3,065
Itron, Inc. Incentive Savings Plan (WA) $651M · 2,593
Bill & Melinda Gates Foundation Sharing Retirement Plan (WA) $680M · 1,926
Fairview Health Services Pension Plan (MN) $644M · 4,702

Frequently Asked Questions

How did Local 580 Annuity Fund assets move in 2024? ▼

Local 580 Annuity Fund pulled back noticeably - down 5.8% during 2024, from $703M to $663M. Reported net income was -$23M.

How have Board of Trustees Local 580 Annuity Fund plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Board of Trustees Local 580 Annuity Fund's sponsor-wide assets declined 53.3%, from $1.4B to $663M.

Where does Local 580 Annuity Fund rank by assets among Form 5500 filers? ▼

Local 580 Annuity Fund ranks in the 98th percentile by end-of-year assets among 116,472 plans that reported assets for plan year 2024 (in the top 5% of all filed plans by assets).

Which Profit Sharing plans are similar in size to Local 580 Annuity Fund? ▼

Among Profit Sharing plans in other states, the closest by assets is Sheet Metal Workers Local 17 Annuity Income Fund in MA ($656M, 3,065 participants).

Next read for Local 580 Annuity Fund

Filing takeaways

Ways to act on Local 580 Annuity Fund's numbers.

By total assets, Local 580 Annuity Fund ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar Profit Sharing plans in New York. Compare plans
Board of Trustees Local 580 Annuity Fund's sponsor-wide assets have declined 53.3% since 2022 across 3 plan years on file. More Construction plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 136178512.

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.