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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan07/01/1988
  • Net Assets as of 12/31/2018 $8,228,435,503
  • Plan Number4
  • 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) Participants108,215
  • Retired or separated participants receiving benefits473
  • Other retired or separated participants entitled to future benefits31,695
  • Subtotal140,383
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits363
  • Total140,746
  • Total number of participants as of 01/01/2018133,365
  • Number of participants with account balances122,021
  • 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

  • Address55 Glenlake Parkway NE
  • CityAtlanta
  • StateGA
  • Zip30328
  • Telephone(404) 828-8661
  • EIN95-1732075
  • Industry Code484200

Audit Information

  • Audit StatusAudited
  • AuditorDeloitte & Touche
  • Auditor EIN13-3891517
  • 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.
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.
2I Stock bonus A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
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.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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 $1,000,000
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? 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 $-134,679,320
Contributions $559,119,629
Cash Contributions $559,119,629
Cash from Employers $166,996,384
Cash from Participants $381,590,367
Others (including rollovers) $10,532,878
Noncash Contributions $0
Total Earnings on Investments $-694,428,605
Total Interest $5,505,715
Interest-Bearing Cash $3,466,436
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,019,344
Interest from Other Investments $19,935
Total Dividends $50,452,601
Preferred Stock $0
Common Stock $50,452,601
Rents $0
Net gain (loss) on sale of assets $-11,403,080
Aggregate Proceeds $297,976,993
Aggregate Carrying Amount $309,380,073
Total Unrealized Appreciation (depreciation) of assets $-314,855,529
Real Estate $0
Other $-314,855,529
Net investment gain (loss) from common/collective trusts $-424,128,312
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 $0
Other Income $629,656
Expenses $581,266,697
Total Benefit Payments $570,493,803
Directly to participants or beneficiaries, including direct rollovers $570,493,803
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $1,095,000
Interest expense $0
Total Administrative Expenses $9,677,894
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $9,677,894
Net Income $-715,946,017
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 $8,230,760,022 $8,946,823,971 -8.00%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $94,144,614 $65,677,551 43.34%
Employer Contributions $74,874,610 $47,368,612 58.07%
Participant Contributions $18,480,747 $18,137,330 1.89%
Other Contributions $789,257 $171,609 359.92%
General Investments $1,728,846 $2,084,352 -17.06%
Interest-bearing cash $1,728,846 $2,084,352 -17.06%
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 $42,985,562 $40,881,630 5.15%
Value of interest in common/collective trusts $6,411,108,297 $6,850,253,001 -6.41%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $354,767,729 $360,691,765 -1.64%
Employer-related Investments $1,326,024,974 $1,627,235,672 -18.51%
Employer Securities $1,326,024,974 $1,627,235,672 -18.51%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $2,324,519 $3,087,537 -24.71%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $2,324,519 $3,087,537 -24.71%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $8,228,435,503 $8,943,736,434 -8.00%

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
VOYA Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment advisory (participants), Direct payment from the plan NONE $2,647,792 $0 $2,647,792
State Street Global Advisors Investment management, Investment management fees paid directly by plan, Non-monetary compensation NONE $581,611 $0 $581,611
State Street Bank Trustee (bank, trust company, or similar financial institution), Direct payment from the plan NONE $556,467 $0 $556,467
Blackrock Investment management, Investment management fees paid directly by plan NONE $198,473 $0 $198,473
Total $3,984,343 $0 $3,984,343

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
Equity Index Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $1,948,533,589
Extended Equity Index Fun Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $1,146,755,347
Us Debt Index Fund Blackrock Institutional Trust Company, N.A DFE: Common/Collective Trust $625,103,578
Blackrock World Ex Us Index Fund Blackrock Institutional Trust DFE: Common/Collective Trust $541,285,618
Ssga Aged Based 2025 Fund State Street Bank & Trust DFE: Common/Collective Trust $316,489,868
Short Term Bond Index Fund Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $288,822,625
Ssga Aged Based 2035 Fund State Street Bank & Trust DFE: Common/Collective Trust $238,925,346
Government Short-Term Investment Fu Blackrock Institutional Trust Company, N.A DFE: Common/Collective Trust $212,209,856
Ssga Aged Based 2020 Fund State Street Bank & Trust DFE: Common/Collective Trust $159,034,409
Emerg Mkts Non-Us Equity Fund Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $153,498,377
Ssga Aged Based 2045 Fund State S Bank & Trust DFE: Common/Collective Trust $139,999,061
Ssga Aged Based 2030 Fund State Street Bank & Trust DFE: Common/Collective Trust $128,926,105
Ssga Aged Based 2015 Fund State Street Bank & Trust DFE: Common/Collective Trust $114,651,004
Ssga Aged Based 2050 Fund State Street Bank & Trust DFE: Common/Collective Trust $97,766,763
Ssga Aged Based 2040 Fund State Street Bank & Trust DFE: Common/Collective Trust $90,996,152
Ssga Aged Based Income Fund State Street Bank & Trust DFE: Common/Collective Trust $86,584,606
Ssga Aged Based 2055 Fund State Street Bank & Trust DFE: Common/Collective Trust $52,599,896
Ups Strategic Completion Blackrock DFE: Common/Collective Trust $51,711,887
Ssga Aged Based 2060 Fund State Street Bank & Trust DFE: Common/Collective Trust $15,204,820
Short Term Investment Fund Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $2,009,390
Total $6,411,108,297

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.