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International Union of Operating Engineers Local 25 Marine Division Annuity Pl

Plan Rating

International Union of Operating Engineers Local 25 Marine Division Annuity Fund


Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan12/10/1990
  • Net Assets as of 12/31/2018 $62,534,665
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants1,588
  • Retired or separated participants receiving benefits8
  • Other retired or separated participants entitled to future benefits759
  • Subtotal2,355
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits15
  • Total2,370
  • Total number of participants as of 01/01/20182,375
  • Number of participants with account balances2,012
  • 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

  • Address461 State Route 33
  • CityMillstone Township
  • StateNJ
  • Zip08535-8102
  • Telephone(800) 548-6662
  • EIN11-3041922
  • Industry Code238900

Audit Information

  • Audit StatusAudited
  • AuditorBuchbinder Tunick & Company, LLP
  • Auditor EIN13-1578842
  • 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.
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.
3J Puerto Rico Plan U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 8565 of the Puerto Rico Code.

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 $27,143
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 $6,794,621
Contributions $7,423,455
Cash Contributions $7,423,455
Cash from Employers $3,993,724
Cash from Participants $3,419,917
Others (including rollovers) $9,814
Noncash Contributions $0
Total Earnings on Investments $-946,417
Total Interest $42,181
Interest-Bearing Cash $257
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $41,924
Interest from Other Investments $0
Total Dividends $798,794
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $2,899
Aggregate Proceeds $6,333
Aggregate Carrying Amount $3,434
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $845,020
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 $-2,635,311
Other Income $317,583
Expenses $4,720,935
Total Benefit Payments $3,764,932
Directly to participants or beneficiaries, including direct rollovers $3,764,932
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $139,352
Interest expense $0
Total Administrative Expenses $816,651
Professional Fees $54,937
Contract Administrator Fees $128,367
Investment Advisory and management fees $173,190
Other Administrative Fees $460,157
Net Income $2,073,686
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 $62,853,259 $60,630,196 3.67%
Total noninterest-bearing cash $91,286 $283,408 -67.79%
Receivables $638,727 $543,436 17.53%
Employer Contributions $383,581 $376,825 1.79%
Participant Contributions $250,783 $131,145 91.23%
Other Contributions $4,363 $35,466 -87.70%
General Investments $343,407 $322,718 6.41%
Interest-bearing cash $343,407 $322,718 6.41%
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 $879,543 $580,708 51.46%
Value of interest in common/collective trusts $34,975,855 $33,277,642 5.10%
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 $25,906,840 $25,592,380 1.23%
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 $17,601 $29,904 -41.14%
Total Liabilities $318,594 $169,217 88.28%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $124,312 $169,217 -26.54%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $194,282 $0 0.0%
Net Assets $62,534,665 $60,460,979 3.43%

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
Milliman Contract Administrator NONE $128,367 $0 $128,367
Invesco Trust Company Investment management NONE $110,402 $0 $110,402
Investment Consulting Services, LLP Investment advisory (plan) Services Related Plans $40,000 $0 $40,000
Cohen Weiss & Simon Legal Services Related Plans $27,967 $0 $27,967
Buchbinder Tunick & Company, LLP Accounting (including auditing) Services Related Plans $26,970 $0 $26,970
Matrix Trust Company Custodial (securities) NONE $20,138 $0 $20,138
Total $353,844 $0 $353,844

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
Invesco Stable Value Trust Invesco Trust Company DFE: Common/Collective Trust $34,975,855
Total $34,975,855

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.