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FORM 5500 DATA

IBEW Local Union No. 375 Electricians' Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan06/01/1976
  • Net Assets as of 12/31/2015 $80,520,404
  • Plan Number1
  • 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 12/31/2015

  • Active (Eligible) Participants632
  • Retired or separated participants receiving benefits16
  • Other retired or separated participants entitled to future benefits137
  • Subtotal785
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total785
  • Total number of participants as of 01/01/2015782
  • Number of participants with account balances785
  • 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

  • Address1201 W. Liberty Street
  • CityAllentown
  • StatePA
  • Zip18102
  • Telephone(610) 432-1033
  • EIN23-2055388
  • Industry Code238210
  • Named AdministratorPaul Anthony

Audit Information

  • Audit StatusAudited
  • AuditorBuckno, Lisicky & Company Pc
  • Auditor EIN23-2426656
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
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.
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? 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 $5,681,425
Contributions $4,572,841
Cash Contributions $4,572,841
Cash from Employers $4,570,272
Cash from Participants $0
Others (including rollovers) $2,569
Noncash Contributions $0
Total Earnings on Investments $1,092,054
Total Interest $530,578
Interest-Bearing Cash $212
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $530,366
Total Dividends $290,807
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 $0
Net investment gain (loss) from pooled separate accounts $-89,501
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 $360,170
Other Income $16,530
Expenses $3,069,136
Total Benefit Payments $3,016,166
Directly to participants or beneficiaries, including direct rollovers $3,016,166
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 $52,970
Professional Fees $28,938
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $24,032
Net Income $2,612,289
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $80,537,577 $77,930,286 3.35%
Total noninterest-bearing cash $160,333 $178,943 -10.40%
Receivables $551,827 $435,026 26.85%
Employer Contributions $500,214 $432,686 15.61%
Participant Contributions $0 $0 0.0%
Other Contributions $51,613 $2,340 2105.68%
General Investments $238,722 $441,515 -45.93%
Interest-bearing cash $238,722 $441,515 -45.93%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $15,201,116 $15,416,333 -1.40%
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 $36,649,641 $34,344,939 6.71%
Value of funds held in insurance co. general account $27,733,738 $27,113,530 2.29%
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 $2,200 $0 0.0%
Total Liabilities $17,173 $22,171 -22.54%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $17,173 $22,171 -22.54%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $80,520,404 $77,908,115 3.35%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Retirement Insurance Co.

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
Willig, Williams & Davidson Legal, Direct payment from the plan NONE $13,393 $0 $13,393
Buckno, Lisicky & Company Pc Accounting (including auditing), Direct payment from the plan NONE $9,950 $0 $9,950
Prudential Ins Co of America Other investment fees and expenses, Investment advisory (plan), Investment management, Custodial (securities) NONE $0 $0 $0
Total $23,343 $0 $23,343

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Prudential Ins Co of America Prudential Investments LLC Other investment fees and expenses, Investment advisory (plan), Investment management, Custodial (securities) 22.0 Bps of Invested Assets From 1/1/2015 To 12/31/2015 $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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
Core Plus/Pimco Fund Prudential Retirement Ins Co DFE: Pooled Separate Account $3,730,097
Large Cap Growth/Jennison Fund Prudential Retirement Ins Co DFE: Pooled Separate Account $2,611,068
Large Cap Value/Ajo Fund Prudential Retirement Ins Co DFE: Pooled Separate Account $2,611,068
Small Cap Value/Kennedy Capital Fd Prudential Retirement Ins Co DFE: Pooled Separate Account $1,492,039
Small Cap Growth/Columbus Circle Fd Prudential Retirement Ins Co DFE: Pooled Separate Account $1,492,039
Mid Cap Value/Qma Prudential Retirement Ins Co DFE: Pooled Separate Account $1,492,039
Mid Cap Growth/Waddell & Reed Prudential Retirement Ins Co DFE: Pooled Separate Account $1,492,039
Jennison Small Cap Core Equity Prudential Retirement Ins Co DFE: Pooled Separate Account $280,727
Total $15,201,116

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Insurance and Annuity Company 785
EIN 06-1050034
Industry Code 93629
Contract Number 041681
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $27,733,738
Value in Separate Accounts at Year End $15,201,113
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 $27,113,530
Additions $4,498,565
Contributions Deposited during the year $1,760,625
Dividends and credits $0
Interest credited during the year $530,366
Transferred from separate account $744,269
Other $1,463,305
Total of Balance and Additions $31,612,095
Deductions $3,878,357
Disbursed from fund to pay benefits or purchase annuities during the year $1,371,700
Administration charge made by carrier $0
Transferred to Separate Account $27,102
Other $2,479,555
Balance at the end of the current year $27,733,738