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Overview

Plan Information

  • Plan Year07/01/2016 — 06/30/2017
  • Date of Plan07/01/1991
  • Net Assets as of 06/30/2017 $1,833,839,398
  • 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 06/30/2017

  • Active (Eligible) Participants14,462
  • Retired or separated participants receiving benefits513
  • Other retired or separated participants entitled to future benefits884
  • Subtotal15,859
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits330
  • Total16,189
  • Total number of participants as of 07/01/201616,258
  • Number of participants with account balances15,678
  • 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

  • Address555 Market Street, Third Floor
  • CitySan Francisco
  • StateCA
  • Zip94105
  • Telephone(415) 576-3200
  • EIN94-1126322
  • Industry Code483000
  • Named AdministratorMichael H Wechsler

Audit Information

  • Audit StatusAudited
  • AuditorPricewaterhousecoopers LLP
  • Auditor EIN13-4008324
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

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 $5,000,000
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? Yes $12,696
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 $344,397,699
Contributions $122,052,811
Cash Contributions $122,052,811
Cash from Employers $29,148,063
Cash from Participants $90,521,725
Others (including rollovers) $2,383,023
Noncash Contributions $0
Total Earnings on Investments $222,344,888
Total Interest $128,777
Interest-Bearing Cash $128,777
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $50,484,844
Preferred Stock $0
Common Stock $1,884,595
Rents $0
Net gain (loss) on sale of assets $15,891,219
Aggregate Proceeds $40,695,479
Aggregate Carrying Amount $24,804,260
Total Unrealized Appreciation (depreciation) of assets $10,851,502
Real Estate $0
Other $10,851,502
Net investment gain (loss) from common/collective trusts $32,455,706
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 $112,532,840
Other Income $0
Expenses $92,901,474
Total Benefit Payments $92,755,453
Directly to participants or beneficiaries, including direct rollovers $92,755,453
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $345
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $145,676
Professional Fees $101,535
Contract Administrator Fees $0
Investment Advisory and management fees $44,141
Other Administrative Fees $0
Net Income $251,496,225
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2017 06/30/2016 Change YOY
Total Assets $1,835,019,928 $1,583,306,391 15.90%
Total noninterest-bearing cash $5,586 $139,767 -96.00%
Receivables $30,830,425 $29,481,879 4.57%
Employer Contributions $29,131,008 $28,998,689 0.46%
Participant Contributions $0 $0 0.0%
Other Contributions $1,699,417 $483,190 251.71%
General Investments $874,919 $1,346,849 -35.04%
Interest-bearing cash $874,919 $1,346,849 -35.04%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $121,709,767 $112,096,574 8.58%
Preferred $0 $0 0.0%
Common $121,709,767 $112,096,574 8.58%
Partnership/joint venture interests $0 $0 0.0%
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 $406,852,134 $387,515,867 4.99%
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 $1,274,747,097 $1,052,725,455 21.09%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
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 $1,180,530 $963,218 22.56%
Benefit Claims Payable (1) $8 $394,143 -100.00%
Operating Payables (1) $97,510 $90,900 7.27%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,083,012 $478,175 126.49%
Net Assets $1,833,839,398 $1,582,343,173 15.89%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Pricewaterhousecoopers LLP Accounting (including auditing), Direct payment from the plan NONE $99,434 $0 $99,434
Alan D Biller Associates Inc Investment advisory (plan), Direct payment from the plan NONE $52,344 $0 $52,344
Qdro Consultants Company, LLC Claims processing, Direct payment from the plan NONE $18,450 $0 $18,450
Fidelity Investments Institutional Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees Recordkeeper $0 $0 $0
Total $170,228 $0 $170,228

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Baron Growth - Dst Systems Inc Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Growth Inst - Dst Systems In Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Calvert Equity I - Boston Financia Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Dodge & Cox Intl Stk - Boston Fina Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Oakmark Select Inv - Boston Financ Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Pax Balanced Inst - Boston Financi Sub-transfer agency fees 0.10% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

Name Nature of Service Description of Information

Service Providers Who Fail or Refuse to Provide Information

Termination Information on Accountants and Enrolled Actuaries

Name Position Explanation

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Mip II Cl 3 Fidelity Management Trust Company DFE: Common/Collective Trust $273,866,650
Fid Growth Co Pool Fidelity Management Trust Company DFE: Common/Collective Trust $77,673,574
Fid Mid Cap Stk Pool Fidelity Management Trust Company DFE: Common/Collective Trust $55,311,910
Total $406,852,134

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.