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Board of Trustees of California Machinists 401k Plan

Plan Rating


Plan Information

  • Plan Year10/01/2018 — 09/30/2019
  • Date of Plan10/01/1996
  • Net Assets as of 09/30/2019 $87,045,119
  • Plan Number1
  • 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 09/30/2019

  • Active (Eligible) Participants1,482
  • Retired or separated participants receiving benefits7
  • Other retired or separated participants entitled to future benefits1,344
  • Subtotal2,833
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits17
  • Total2,850
  • Total number of participants as of 10/01/20182,754
  • Number of participants with account balances2,850
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address160 West Santa Clara Street Suite 1550
  • CitySan Jose
  • StateCA
  • Zip95113-1734
  • Telephone(408) 298-1170
  • EIN94-3250849
  • Industry Code485990
  • Named AdministratorRobert Dathe
  • Named Plan SponsorDonald Crosatto

Audit Information

  • Audit StatusAudited
  • AuditorLindquist LLP
  • Auditor EIN52-2385296
  • 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.

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 $41,214
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


Income and Expense Statement

Income $8,681,419
Contributions $7,338,099
Cash Contributions $7,338,099
Cash from Employers $3,334,960
Cash from Participants $4,003,139
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $880,777
Total Interest $32,810
Interest-Bearing Cash $167
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $32,643
Interest from Other Investments $0
Total Dividends $3,320,937
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 $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $54,954
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 $-2,527,924
Other Income $462,543
Expenses $6,559,227
Total Benefit Payments $6,157,392
Directly to participants or beneficiaries, including direct rollovers $6,157,392
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 $401,835
Professional Fees $129,237
Contract Administrator Fees $159,620
Investment Advisory and management fees $61,176
Other Administrative Fees $51,802
Net Income $2,122,192
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2019 09/30/2018 Change YOY
Total Assets $87,089,759 $85,009,330 2.45%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $494,320 $499,135 -0.96%
Employer Contributions $194,020 $267,016 -27.34%
Participant Contributions $219,899 $225,601 -2.53%
Other Contributions $80,401 $6,518 1133.52%
General Investments $355,539 $357,811 -0.63%
Interest-bearing cash $355,539 $357,811 -0.63%
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 $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
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 $809,568 $769,692 5.18%
Value of interest in common/collective trusts $3,647,316 $2,856,140 27.70%
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 $81,783,016 $80,526,552 1.56%
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 $44,640 $86,403 -48.34%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $44,640 $86,403 -48.34%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $87,045,119 $84,922,927 2.50%

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
Lindquist LLP Accounting (including auditing), Direct payment from the plan NONE $113,603 $0 $113,603
Morgan Stanley Investment advisory (plan), Employee (plan), Participant communication, Direct payment from the plan, Investment management fees paid directly by plan, Consulting (general) NONE $90,990 $0 $90,990
Matrix Trust Company Trustee (directed), Other fees, Float revenue, Direct payment from the plan NONE $61,176 $0 $61,176
Weinberg, Roger & Rosenfeld Legal, Direct payment from the plan NONE $15,634 $0 $15,634
Dst Financial Services Participant communication, Direct payment from the plan NONE $8,407 $0 $8,407
Total $289,810 $0 $289,810

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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.



Name of Investment Investment Manager Type of Investment Dollar Value
Wtrisc Cit for Metlife Grp Annuity Wilmington Trust DFE: Common/Collective Trust $3,647,316
Total $3,647,316

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.