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International Association of Heat & Frost Insulators Workers Local 78

Plan Rating
FORM 5500 DATA

International Association of Heat & Frost Insulators & Allied Workers Local #78 Pension Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1985
  • Net Assets as of 12/31/2017 $35,878,282
  • Plan Number2
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants264
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits0
  • Subtotal264
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total264
  • Total number of participants as of 01/01/2017333
  • Number of participants with account balances264
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • AddressP.O. Box 1449
  • CityGoodlettsville
  • StateTN
  • Zip37070-1449
  • Telephone(615) 859-0131
  • EIN63-0732852
  • Industry Code238900
  • Named AdministratorDoug Irwin

Audit Information

  • Audit StatusAudited
  • AuditorDaniels, Irwin & Aylor
  • Auditor EIN62-1802605
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $6,522,875
Contributions $1,957,039
Cash Contributions $1,957,039
Cash from Employers $1,957,039
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $4,562,452
Total Interest $394,742
Interest-Bearing Cash $8,345
U.S. Government Securities $58,330
Corporate Debt Instruments $212,674
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $115,393
Total Dividends $244,522
Preferred Stock $0
Common Stock $243,230
Rents $0
Net gain (loss) on sale of assets $241,831
Aggregate Proceeds $9,782,575
Aggregate Carrying Amount $9,540,744
Total Unrealized Appreciation (depreciation) of assets $1,292,935
Real Estate $0
Other $1,292,935
Net investment gain (loss) from common/collective trusts $2,366,840
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $21,582
Other Income $3,384
Expenses $2,183,057
Total Benefit Payments $1,951,883
Directly to participants or beneficiaries, including direct rollovers $1,951,883
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $231,174
Professional Fees $20,493
Contract Administrator Fees $24,900
Investment Advisory and management fees $172,016
Other Administrative Fees $13,765
Net Income $4,339,818
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $35,951,251 $31,549,825 13.95%
Total noninterest-bearing cash $560,436 $240,946 132.60%
Receivables $237,338 $224,664 5.64%
Employer Contributions $168,174 $140,414 19.77%
Participant Contributions $0 $0 0.0%
Other Contributions $69,164 $84,250 -17.91%
General Investments $8,154,118 $8,447,507 -3.47%
Interest-bearing cash $854,201 $1,082,981 -21.13%
U.S. Government Securities $3,151,160 $1,908,085 65.15%
Corporate Debt Instruments $4,148,757 $5,456,441 -23.97%
Preferred $4,148,757 $5,456,441 -23.97%
All Other $0 $0 0.0%
Corporate Stocks $10,060,126 $8,994,642 11.85%
Preferred $0 $0 0.0%
Common $10,060,126 $8,994,642 11.85%
Partnership/joint venture interests $3,309,644 $3,122,732 5.99%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $12,386,567 $9,859,386 25.63%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $291,699 $50,940 472.63%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $951,323 $609,008 56.21%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $72,969 $11,361 542.28%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $72,969 $11,361 542.28%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $35,878,282 $31,538,464 13.76%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Highland Capital Management Investment management NONE $80,846 $2,182 $83,028
Reynolds Consulting Services, LLC Investment advisory (plan) NONE $32,500 $0 $32,500
Cca Black, Lp Investment management NONE $25,449 $0 $25,449
Southern Benefit Administrators Plan Administrator NONE $25,088 $0 $25,088
Boyd Watterson Asset Management Investment management NONE $20,748 $0 $20,748
Amalgamated Bank Investment management NONE $12,473 $2,368 $14,841
Newtower Trust Investment management NONE $0 $14,146 $14,146
Daniels, Irwin & Aylor Accounting (including auditing) NONE $13,775 $0 $13,775
Quinn Connor Weaver Davies & Rouco Legal NONE $6,718 $0 $6,718
Exchange Traded & Money Market Fds Custodial (securities) NONE $0 $0 $0
Total $217,597 $18,696 $236,293

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Exchange Traded & Money Market Fds Exchange Traded & Mm Funds Custodial (securities) See Schedules Attached $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Longview Largecap 1000 Growth Index Amalgamated Bank DFE: Common/Collective Trust $8,722,066
Longview Midcap 400 Index Fund Amalgamated Bank DFE: Common/Collective Trust $2,000,129
Multi-Employer Property Trust New Tower Trust Company DFE: Common/Collective Trust $1,664,372
Total $12,386,567

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.