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International Union of Operating Engineers Local 25 Marine Division Annuity Pl

Plan Rating
FORM 5500 DATA

International Union of Operating Engineers Local 25 Marine Division Annuity Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan12/10/1990
  • Net Assets as of 12/31/2017 $60,460,979
  • 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 12/31/2017

  • Active (Eligible) Participants1,538
  • Retired or separated participants receiving benefits10
  • Other retired or separated participants entitled to future benefits820
  • Subtotal2,368
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits7
  • Total2,375
  • Total number of participants as of 01/01/20172,037
  • Number of participants with account balances1,927
  • 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

  • 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 $15,179
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? Yes
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? Yes

Financials

Income and Expense Statement

Income $10,127,139
Contributions $5,901,214
Cash Contributions $5,901,214
Cash from Employers $3,012,483
Cash from Participants $2,885,840
Others (including rollovers) $2,891
Noncash Contributions $0
Total Earnings on Investments $3,718,955
Total Interest $21,615
Interest-Bearing Cash $171
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $21,444
Interest from Other Investments $0
Total Dividends $543,794
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 $363,730
Net investment gain (loss) from pooled separate accounts $1,398,655
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 $1,391,161
Other Income $506,970
Expenses $4,961,680
Total Benefit Payments $4,310,721
Directly to participants or beneficiaries, including direct rollovers $4,310,721
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $126,570
Interest expense $0
Total Administrative Expenses $524,389
Professional Fees $63,570
Contract Administrator Fees $50,255
Investment Advisory and management fees $105,031
Other Administrative Fees $305,533
Net Income $5,165,459
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $60,630,196 $55,520,877 9.20%
Total noninterest-bearing cash $283,408 $172,677 64.13%
Receivables $543,436 $385,605 40.93%
Employer Contributions $376,825 $201,201 87.29%
Participant Contributions $131,145 $89,900 45.88%
Other Contributions $35,466 $94,504 -62.47%
General Investments $322,718 $200,047 61.32%
Interest-bearing cash $322,718 $200,047 61.32%
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 $580,708 $571,700 1.58%
Value of interest in common/collective trusts $33,277,642 $0 0.0%
Value of interest in pooled separate accounts $0 $20,020,161 -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 $25,592,380 $0 0.0%
Value of funds held in insurance co. general account $0 $34,126,658 -100.00%
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 $29,904 $44,029 -32.08%
Total Liabilities $169,217 $225,357 -24.91%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $169,217 $225,357 -24.91%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $60,460,979 $55,295,520 9.34%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Invesco Trust Company

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 $50,255 $0 $50,255
Investment Consulting Services, LLP Investment advisory (plan) Services Related Plans $40,000 $0 $40,000
Cohen Weiss & Simon Legal Services Related Plans $38,970 $0 $38,970
Buchbinder Tunick & Company, LLP Accounting (including auditing) Services Related Plans $24,600 $0 $24,600
Matrix Trust Company Custodial (securities) NONE $7,942 $0 $7,942
Prudential Retirement Insurance Ann Investment management, Other services NONE $351 $0 $351
Total $162,118 $0 $162,118

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
Invesco Stable Value Trust Invesco Trust Company DFE: Common/Collective Trust $33,277,642
Prudential Day One 2050 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2055 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2060 Prudential Retirement DFE: Pooled Separate Account $0
Qma Mid Cap Quantitative Core Equit Prudential Retirement DFE: Pooled Separate Account $0
Sa/T. Rowe Price Growth Stock Strat Prudential Retirement DFE: Pooled Separate Account $0
Small Cap Growth/Times Square Prudential Retirement DFE: Pooled Separate Account $0
Small Cap Value/ Silvercrest Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One Income Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2045 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2040 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2035 Prudential Retirement DFE: Pooled Separate Account $0
International Blend/Lazard Prudential Retirement DFE: Pooled Separate Account $0
Large Cap Growth/Jp Morgan Prudential Retirement DFE: Pooled Separate Account $0
Large Cap Value/Lsv Management Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2010 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2015 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2020 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2025 Prudential Retirement DFE: Pooled Separate Account $0
Prudential Day One 2030 Prudential Retirement DFE: Pooled Separate Account $0
Dryden S&P 500 Index Fund Prudential Retirement DFE: Pooled Separate Account $0
Total $33,277,642

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 0
EIN 06-1050034
Industry Code 93629
Contract Number 038490
Contract Year 01/01/2017 — 07/03/2017
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 GENERAL ACCOUNT
Balance at the end of the previous year $34,126,658
Additions $1,682,656
Contributions Deposited during the year $1,168,000
Dividends and credits $0
Interest credited during the year $263,130
Transferred from separate account $0
Other $251,526
Total of Balance and Additions $35,809,314
Deductions $35,809,314
Disbursed from fund to pay benefits or purchase annuities during the year $35,332,878
Administration charge made by carrier $100
Transferred to Separate Account $0
Other $476,336
Balance at the end of the current year $0