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FORM 5500 DATA

Steamfitters Local Union No. 420 Supplemental Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2018 $454,832,387
  • 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 Arrangement Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants3,897
  • Retired or separated participants receiving benefits293
  • Other retired or separated participants entitled to future benefits2,029
  • Subtotal6,219
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits98
  • Total6,317
  • Total number of participants as of 01/01/20185,976
  • Number of participants with account balances6,317
  • 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

  • Address14420 Townsend Road, Suite B
  • CityPhiladelphia
  • StatePA
  • Zip19154-1028
  • Telephone(267) 350-2600
  • EIN23-2495379
  • Industry Code238220
  • Named AdministratorRobert Winther

Audit Information

  • Audit StatusAudited
  • AuditorDaniel A. Winters & Company, CPAS
  • Auditor EIN23-2586736
  • 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.
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 $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 $29,267,371
Contributions $45,519,905
Cash Contributions $45,519,905
Cash from Employers $45,484,158
Cash from Participants $0
Others (including rollovers) $35,747
Noncash Contributions $0
Total Earnings on Investments $-16,956,480
Total Interest $1,574,927
Interest-Bearing Cash $4,732
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $1,570,195
Total Dividends $2,754,459
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 $-12,281,464
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 $-9,004,402
Other Income $703,946
Expenses $35,531,045
Total Benefit Payments $33,989,024
Directly to participants or beneficiaries, including direct rollovers $33,989,024
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 $1,542,021
Professional Fees $120,719
Contract Administrator Fees $132,568
Investment Advisory and management fees $281,649
Other Administrative Fees $1,007,085
Net Income $-6,263,674
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 $454,948,346 $461,186,276 -1.35%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $4,096,559 $3,599,668 13.80%
Employer Contributions $4,096,559 $3,572,778 14.66%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $26,890 0.0%
General Investments $5,492,911 $4,890,520 12.32%
Interest-bearing cash $5,492,911 $4,890,520 12.32%
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 $0 $0 0.0%
Value of interest in common/collective trusts $235,686,061 $245,908,492 -4.16%
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 $124,485,377 $125,936,056 -1.15%
Value of funds held in insurance co. general account $85,090,811 $80,782,347 5.33%
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 $96,627 $69,193 39.65%
Total Liabilities $115,959 $90,215 28.54%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $112,059 $86,315 29.83%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $3,900 $3,900 0.00%
Net Assets $454,832,387 $461,096,061 -1.36%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Corporation

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Recordkeeper $906,962 $0 $906,962
Zenith American Solutions,Inc Contract Administrator NONE $134,544 $0 $134,544
Morgan Stanley Wealth Mgmt Investment management NONE $72,000 $0 $72,000
Daniel A. Winters & Company, CPAS Accounting (including auditing) NONE $51,322 $0 $51,322
Cleary & Josem LLP Legal NONE $47,153 $0 $47,153
Employee A Employee (plan) NONE $42,204 $0 $42,204
Steamfitters Lu 420 Building Fund Other fees Union Affiliate $20,991 $0 $20,991
Kang Haggerty & Fetbroyt Legal NONE $15,780 $0 $15,780
J. A Mariano Agency, Inc Total Insurance agents and brokers NONE $0 $6,894 $6,894
D&W Technologies Other services NONE $5,179 $0 $5,179
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Mid Atlantic Capital Corporation Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $1,296,135 $6,894 $1,303,029

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Transamerica Retirement Solutions Dodge and Cox Stock Fund Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees There Were Revenue Sharing Fees of 9.745 Annualized Basis Points of Plan Assets Invested In The Fund. $0
Transamerica Retirement Solutions Ironbridge Frontegra Smid Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees There Were Revenue Sharing Fees of 9.745 Annualized Basis Points of Plan Assets Invested In The Fund. $0
Transamerica Retirement Solutions Davis Opportunity Fund Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees There Were Revenue Sharing Fees of 4.872 Annualized Basis Points of Plan Assets Invested In The Fund. $0
Transamerica Retirement Solutions Prudential Guaranteed Lt Fun Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Sub-transfer agency fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees There Were Revenue Sharing Fees of 30.80 Annulized Basis Points of Plan Assets Invested In The Fund $0
Transamerica Retirement Solutions Dreyfus/Standish Glvl Fix Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Sub-transfer agency fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees There Were Revenue Sharing Fees of 8.771 Annulized Basis Points of Plan Assets Invested In The Fund. $0
National Financial Services Dodge and Cox Stock Fund Securities brokerage, Securities brokerage commissions and fees There Were Revenue Sharing Fees of 0.255% of Annualized Basis Points of Plan Assets Invested In The Fund. $0
National Financial Services Ironbridge Frontegra Smid Securities brokerage, Securities brokerage commissions and fees There Were Revenue Sharing Fees of 0.255% of Annualized Basis Points of Plan Assets Invested In The Fund. $0
National Financial Services Davis Opportunity Fund Securities brokerage, Securities brokerage commissions and fees There Were Revenue Sharing Fees of 0.128% of Annualized Basis Points of Plan Assets Invested In The Fund. $0
National Financial Services Dreyfus/Standish Glvl Fix Securities brokerage, Securities brokerage commissions and fees There Were Revenue Sharing Fees of 0.230% of Annualized Basis Points of Plan Assets Invested In The Fund. $0
Mid Atlantic Capital Corporation Prudential Guaranteed Lt Fun Securities brokerage, Securities brokerage commissions and fees There Were Revenue Sharing Fees of 1.2% of Annualized Basis Points of Plan Assets Invested In The Fund $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
Steamfitters Balanced Fund Blackrock Institutional Trust Company DFE: Common/Collective Trust $235,686,061
Total $235,686,061

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 6,317
EIN 06-1050034
Industry Code 93629
Contract Number UN62511
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $85,090,811
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 $80,782,347
Additions $10,337,740
Contributions Deposited during the year $4,805,706
Dividends and credits $0
Interest credited during the year $1,570,195
Transferred from separate account $3,961,839
Other $0
Total of Balance and Additions $91,120,087
Deductions $6,029,276
Disbursed from fund to pay benefits or purchase annuities during the year $6,028,156
Administration charge made by carrier $1,120
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $85,090,811