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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1963
  • Net Assets as of 12/31/2018 $284,370,900
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • 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 12/31/2018

  • Active (Eligible) Participants201
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits87
  • Subtotal288
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total288
  • Total number of participants as of 01/01/2018260
  • Number of participants with account balances288
  • 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

  • Address400 South Hope Street - 4th Floor
  • CityLos Angeles
  • StateCA
  • Zip90071-2899
  • Telephone(213) 430-6000
  • EIN95-1066597
  • Industry Code541110
  • Named AdministratorDan Koermer
  • Named Plan SponsorWayne Jacobsen

Plan Administrator Information

  • Administrator NameOmelveny & Myers LLP Retirement and Employee Benefits Committee
  • Address400 South Hope Street, 4th Floor
  • CityLos Angeles
  • StateCA
  • Zip90071-2899
  • Telephone(213) 430-6000
  • Administrator EIN95-3033549

Audit Information

  • Audit StatusAudited
  • AuditorCrowe LLP
  • Auditor EIN35-0921680
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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.
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.
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B Self-Employed Plan Plan covering Self-Employed individuals.

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? 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 $-2,947,400
Contributions $10,861,300
Cash Contributions $10,861,300
Cash from Employers $10,861,300
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-14,041,800
Total Interest $337,500
Interest-Bearing Cash $175,800
U.S. Government Securities $1,600
Corporate Debt Instruments $134,700
Loans (other than to participants) $0
Participant Loans $5,500
Interest from Other Investments $19,900
Total Dividends $10,948,300
Preferred Stock $24,900
Common Stock $742,200
Rents $0
Net gain (loss) on sale of assets $-375,600
Aggregate Proceeds $47,604,500
Aggregate Carrying Amount $47,980,100
Total Unrealized Appreciation (depreciation) of assets $-2,197,800
Real Estate $0
Other $-2,197,800
Net investment gain (loss) from common/collective trusts $228,400
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 $-22,982,600
Other Income $233,100
Expenses $16,567,500
Total Benefit Payments $15,764,800
Directly to participants or beneficiaries, including direct rollovers $15,764,800
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 $802,700
Professional Fees $802,700
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-19,514,900
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $284,398,600 $302,794,600 -6.08%
Total noninterest-bearing cash $812,900 $210,900 285.44%
Receivables $3,113,500 $2,934,200 6.11%
Employer Contributions $3,105,400 $2,898,400 7.14%
Participant Contributions $0 $0 0.0%
Other Contributions $8,100 $35,800 -77.37%
General Investments $37,330,400 $28,867,600 29.32%
Interest-bearing cash $33,007,300 $26,652,100 23.85%
U.S. Government Securities $3,410,300 $1,421,600 139.89%
Corporate Debt Instruments $3,452,100 $2,913,100 18.50%
Preferred $912,800 $793,900 14.98%
All Other $2,539,300 $2,119,200 19.82%
Corporate Stocks $28,294,300 $28,038,900 0.91%
Preferred $234,200 $247,100 -5.22%
Common $28,060,100 $27,791,800 0.97%
Partnership/joint venture interests $480,600 $852,100 -43.60%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $133,000 $71,700 85.50%
Value of interest in common/collective trusts $3,400 $12,203,700 -99.97%
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 $211,004,000 $226,911,400 -7.01%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $687,200 $584,900 17.49%
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 $27,700 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $27,700 $0 0.0%
Net Assets $284,370,900 $302,794,600 -6.08%

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
Matrix Trust Co Trustee (directed), Account maintenance fees Trustee $52,536 $0 $52,536
Crowe, LLC Accounting (including auditing), Direct payment from the plan Auditors $26,020 $0 $26,020
Willis Towers Watson Investment advisory (plan) Investment Advisor $26,000 $0 $26,000
Milliman, Inc Recordkeeping and information management (computing, tabulating, data processing, etc.) Recordkeeper $20,712 $0 $20,712
Fiioc, Inc Participant loan processing, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $11,372 $0 $11,372
Canterbury Consulting Investment management Investment Advisor $2,331 $0 $2,331
Total $138,971 $0 $138,971

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.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Fidelity Managed Inc Portfolio II Fidelity Management Trust Company DFE: Common/Collective Trust $13,136,033
Total $13,136,033

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.