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FORM 5500 DATA

The Savings Plan of Saudi Arabian Oil Company

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan09/01/1954
  • Net Assets as of 12/31/2018 $2,278,682,844
  • Plan Number2
  • 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 ArrangementInsurance Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants2,540
  • Retired or separated participants receiving benefits502
  • Other retired or separated participants entitled to future benefits1,062
  • Subtotal4,104
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits34
  • Total4,138
  • Total number of participants as of 01/01/20184,243
  • Number of participants with account balances4,089
  • 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

  • Address1200 Smith Street 35th Floor, Ms 990
  • CityHouston
  • StateTX
  • Zip77002-4300
  • Telephone(713) 432-5691
  • EIN98-0105730
  • Industry Code211120
  • Named AdministratorRonald Charles

Audit Information

  • Audit StatusAudited
  • AuditorPricewaterhousecoopers LLP
  • Auditor EIN13-4008324
  • 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.
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.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $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

Financials

Income and Expense Statement

Income $159,409,028
Contributions $227,870,982
Cash Contributions $227,870,982
Cash from Employers $39,011,902
Cash from Participants $59,822,771
Others (including rollovers) $129,036,309
Noncash Contributions $0
Total Earnings on Investments $-68,461,954
Total Interest $17,937,728
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $368,820
Interest from Other Investments $17,568,908
Total Dividends $51,236,180
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 $-135,423,034
Real Estate $0
Other $-135,423,034
Net investment gain (loss) from common/collective trusts $-594,999
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 $-1,617,829
Other Income $0
Expenses $248,066,807
Total Benefit Payments $248,002,114
Directly to participants or beneficiaries, including direct rollovers $248,002,114
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $2,802
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $61,891
Professional Fees $0
Contract Administrator Fees $61,891
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-88,657,779
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 $2,278,682,844 $2,367,340,623 -3.75%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
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 $9,591,230 $9,708,570 -1.21%
Value of interest in common/collective trusts $380,369,547 $386,067,609 -1.48%
Value of interest in pooled separate accounts $0 $10,409,224 -100.00%
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 $1,870,459,466 $1,937,000,674 -3.44%
Value of funds held in insurance co. general account $18,262,601 $24,154,546 -24.39%
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 $0 $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) $0 $0 0.0%
Net Assets $2,278,682,844 $2,367,340,623 -3.75%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Saturna Capital (Amana & Sextant F)

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
Vanguard Group Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.) NONE $61,891 $0 $61,891
Total $61,891 $0 $61,891

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
Vftc Target Ret 2025 Trust II The Vanguard Group DFE: Common/Collective Trust $77,180,529
Vftc Target Ret 2020 Trust II The Vanguard Group DFE: Common/Collective Trust $61,100,684
Vftc Target Ret 2030 Trust II The Vanguard Group DFE: Common/Collective Trust $59,120,227
Vftc Target Ret 2035 Trust II The Vanguard Group DFE: Common/Collective Trust $41,509,737
Vftc Target Ret Income Trust II The Vanguard Group DFE: Common/Collective Trust $39,178,337
Vftc Target Ret 2015 Trust II The Vanguard Group DFE: Common/Collective Trust $36,314,472
Vftc Target Ret 2040 Trust II The Vanguard Group DFE: Common/Collective Trust $28,175,762
Vftc Target Ret 2045 Trust II The Vanguard Group DFE: Common/Collective Trust $21,578,472
Vftc Target Ret 2050 Trust II The Vanguard Group DFE: Common/Collective Trust $10,458,720
Vftc Target Ret 2060 Trust II The Vanguard Group DFE: Common/Collective Trust $2,753,430
Vftc Target Ret 2055 Trust II The Vanguard Group DFE: Common/Collective Trust $2,696,920
Vftc Target Ret 2065 Trust II The Vanguard Group DFE: Common/Collective Trust $302,257
Metlife Separate Account Metlife DFE: Pooled Separate Account $0
Total $380,369,547

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Met Life 4,138
EIN 13-5581829
Industry Code 65978
Contract Number 35415
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $3,903,955
Additions $81,608
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $81,608
Transferred from separate account $0
Other $0
Total of Balance and Additions $3,985,563
Deductions $3,985,563
Disbursed from fund to pay benefits or purchase annuities during the year $3,985,563
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0
Met Life 4,138
EIN 13-5581829
Industry Code 65978
Contract Number 35682
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $10,151,112
Additions $220,279
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $220,279
Transferred from separate account $0
Other $0
Total of Balance and Additions $10,371,391
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 $10,371,391
Met Life 4,138
EIN 13-5581829
Industry Code 65978
Contract Number 32061
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $6,099,866
Additions $59,095
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $59,095
Transferred from separate account $0
Other $0
Total of Balance and Additions $6,158,961
Deductions $6,158,961
Disbursed from fund to pay benefits or purchase annuities during the year $6,158,961
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0
New York Life Insurance Company 4,138
EIN 13-5582869
Industry Code 66915
Contract Number GA34412
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $3,999,613
Additions $67,024
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $67,024
Transferred from separate account $0
Other $0
Total of Balance and Additions $4,066,637
Deductions $4,066,637
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $8,571
Transferred to Separate Account $0
Other $4,058,066
Balance at the end of the current year $0
New York Life Insurance Company 4,138
EIN 13-5582869
Industry Code 66915
Contract Number GA34412002
Contract Year 03/09/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $0
Additions $7,912,819
Contributions Deposited during the year $7,700,000
Dividends and credits $0
Interest credited during the year $212,819
Transferred from separate account $0
Other $0
Total of Balance and Additions $7,912,819
Deductions $21,609
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $21,609
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $7,891,210