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Board of Trustees, U.A. Local 125 Retirement Savings Plan

Plan Rating
FORM 5500 DATA

U.A. Local 125 Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/2000
  • Net Assets as of 12/31/2017 $92,178,418
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants1,015
  • Retired or separated participants receiving benefits34
  • Other retired or separated participants entitled to future benefits56
  • Subtotal1,105
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,105
  • Total number of participants as of 01/01/20171,099
  • Number of participants with account balances1,105
  • 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

  • Address1831 16th Ave. SW
  • CityCedar Rapids
  • StateIA
  • Zip52404
  • Telephone(319) 362-6062
  • EIN42-1497403
  • Industry Code238220
  • Named AdministratorJoe Ockenfels
  • Named Plan SponsorBret Brecke

Audit Information

  • Audit StatusAudited
  • AuditorCliftonlarsonallen LLP
  • Auditor EIN41-0746749
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

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? Yes $2,506
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? Yes $12,071,686
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? Yes
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 $18,132,178
Contributions $5,888,302
Cash Contributions $5,888,302
Cash from Employers $3,379,885
Cash from Participants $2,457,962
Others (including rollovers) $50,455
Noncash Contributions $0
Total Earnings on Investments $12,206,200
Total Interest $115,194
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $115,194
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $4,148,956
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $732,538
Real Estate $0
Other $732,538
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $67,341
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 $7,142,171
Other Income $37,676
Expenses $5,569,810
Total Benefit Payments $5,418,083
Directly to participants or beneficiaries, including direct rollovers $5,418,083
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 $151,727
Professional Fees $65,099
Contract Administrator Fees $27,000
Investment Advisory and management fees $42,000
Other Administrative Fees $17,628
Net Income $12,562,368
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 $92,188,010 $79,717,397 15.64%
Total noninterest-bearing cash $189,205 $138,933 36.18%
Receivables $531,988 $583,649 -8.85%
Employer Contributions $325,628 $381,201 -14.58%
Participant Contributions $169,027 $191,776 -11.86%
Other Contributions $37,333 $10,672 249.82%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $2,222,460 $1,030,486 115.67%
Preferred $0 $0 0.0%
All Other $2,222,460 $1,030,486 115.67%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $8,011,348 $5,948,025 34.69%
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 $0 $0 0.0%
Value of interest in pooled separate accounts $3,761,285 $3,686,377 2.03%
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 $73,411,386 $64,593,636 13.65%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $4,060,338 $3,736,291 8.67%
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 $9,592 $101,347 -90.54%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $8,387 $15,046 -44.26%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,205 $86,301 -98.60%
Net Assets $92,178,418 $79,616,050 15.78%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Carillon Tower Advisers
  • Mainstay Investments
  • Harbor Capital
  • Wells Fargo Funds
  • Oakmark
  • DFA
  • Artisan
  • Franklin Templeton Investment Funds
  • Lexington Partners
  • John Hancock Retirement Services
  • Seer Capital Management Lp
  • Crescent Capital High Income Fund
  • Metwest
  • Doubleline
  • RBC
  • New York Life Investment Management
  • White Oak Global Advisors LLC
  • Tricon Housing Partners Us II B Lp
  • Bcsf Advisors Lp
  • Seer Capital Partners Gp LLC

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
Meketa Investment Group Inc. Investment advisory (plan), Direct payment from the plan NONE $42,000 $0 $42,000
Leonard, O'Brien, Spencer, Gale & S Legal, Direct payment from the plan NONE $33,876 $0 $33,876
Cliftonlarsonallen LLP Accounting (including auditing), Direct payment from the plan NONE $31,223 $0 $31,223
Eastern Iowa Fringe Benefits Contract Administrator, Direct payment from the plan Affiliate $27,000 $0 $27,000
Mcmorgan & Company LLC Investment management NONE $0 $0 $0
Total $134,099 $0 $134,099

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Mcmorgan & Company LLC - 52-2334338 John Hancock Retirement Plan Servic Investment management Annual Fee of 0.0068 Bps On Average Assets In The Plan. $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
New York Life Anchor Account Stable New York Life Insurance Company DFE: Pooled Separate Account $3,761,285
Total $3,761,285

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
New York Life Insurance Company 1,105
EIN 13-5582869
Industry Code 66915
Contract Number 31500
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $3,761,285
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0