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Revised June 10, 2026

Summary Annual Report for Building Service 32BJ Health Fund

This is a summary of the annual report of the Building Service 32BJ Health Fund (the “Plan”), EIN 13-2928869, Plan No. 501, a welfare benefit plan, for period July 01, 2024, through June 30, 2025. The annual report has been filed with the Employee Benefits Security Administration, U.S. Department of Labor, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

The Board of Trustees of the Building Service 32BJ Health Fund has committed itself to pay certain health, dental, vision, and disability claims incurred under the terms of the Plan.

Insurance Information

The Plan has contracts with the Guardian Life Insurance Company of America to pay temporary and long-term disability claims incurred under the terms of the Plan. The total premiums paid for the plan year ending June 30, 2025, were $603,847.

The Plan has contracts with the Kaiser Foundation Health Plan of the Mid-Atlantic to pay health claims incurred under the terms of the Plan. The total premiums paid for the plan year ending June 30, 2025, were $64,910,777.

The Plan has a contract with Metropolitan Life Insurance Company to pay accidental death and dismemberment claims incurred under the terms of the Plan. Because this is a so-called “experience-rated” contract, the premium costs are affected by, among other things, the number and size of claims. Of the total insurance premiums paid for the plan year ending June 30, 2025, the premiums paid under such “experience-rated” contracts were $12,017,474 and the total of all benefit claims paid under these contracts during the plan year was $7,316,585.

Basic Financial Statement

The value of Plan assets, after subtracting liabilities of the Plan, was $2,994,445,095 as of June 30, 2025, compared to $2,775,232,837 as of July 1, 2024. During the plan year, the Plan experienced an increase in its net assets of $219,212,258. This increase includes unrealized appreciation and depreciation in the value of Plan assets; that is, the difference between the value of the Plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year.

During the plan year, the Plan had total income of $2,136,256,382 including employer contributions of $1,908,452,694, realized gains of $122,819 from the sale of assets, earnings from investments of $29,538,788, net investment gains of $192,038,677, and other income of $6,103,404. Plan expenses were $1,917,044,124. These expenses included $75,425,168 in administrative expenses, and $1,841,618,956 in benefits paid to participants and beneficiaries.

Your Rights To Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

  1. an accountant's report;
  2. financial information and information on payments to service providers;
  3. assets held for investment;
  4. transactions in excess of 5 percent of the Plan assets;

To obtain a copy of the full annual report, or any part thereof, write or call the Compliance Office, Building Service 32BJ Benefit Funds, 25 West 18th Street, New York, NY 10011-4676; or by telephone at (212) 539-2778 . The charge to cover copying costs will be $48.75 for the full annual report, or $0.25 per page for any part thereof.

You also have the right to receive from the Plan administrator, on request and at no charge, a statement of the assets and liabilities of the Plan and accompanying notes, or a statement of income and expenses of the Plan and accompanying notes, or both. If you request a copy of the full annual report from the Plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the Plan, 25 West 18th Street, New York, NY 10011-4676, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.