Back to top
FORM 5500 DATA

Electricians Annuity Fund Local 81

Overview

Plan Information

  • Plan Year06/01/2017 — 05/31/2018
  • Date of Plan08/01/1963
  • Net Assets as of 05/31/2018 $75,255,876
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 05/31/2018

  • Active (Eligible) Participants614
  • Retired or separated participants receiving benefits13
  • Other retired or separated participants entitled to future benefits0
  • Subtotal627
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total630
  • Total number of participants as of 06/01/2017739
  • Number of participants with account balances630
  • 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

  • Address431 Wyoming Avenue
  • CityScranton
  • StatePA
  • Zip18503
  • Telephone(570) 344-5711
  • EIN23-6535432
  • Industry Code238210

Audit Information

  • Audit StatusAudited
  • AuditorMcgrail Merkel Quinn & Assoc. P.C.
  • Auditor EIN23-2226550
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.

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 $11,514,675
Contributions $4,891,150
Cash Contributions $4,891,150
Cash from Employers $4,891,150
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $6,067,670
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $0
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 $423,709
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 $5,643,961
Other Income $555,855
Expenses $3,339,801
Total Benefit Payments $3,166,609
Directly to participants or beneficiaries, including direct rollovers $3,166,609
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 $173,192
Professional Fees $27,559
Contract Administrator Fees $38,306
Investment Advisory and management fees $99,500
Other Administrative Fees $7,827
Net Income $8,174,874
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

05/31/2018 05/31/2017 Change YOY
Total Assets $75,518,521 $67,138,419 12.48%
Total noninterest-bearing cash $687,991 $355,416 93.57%
Receivables $753,748 $546,118 38.02%
Employer Contributions $649,990 $533,764 21.77%
Participant Contributions $0 $0 0.0%
Other Contributions $103,758 $12,354 739.87%
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 $509,897 $0 0.0%
Preferred $0 $0 0.0%
Common $509,897 $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 $21,114,681 $22,861,401 -7.64%
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 $52,452,204 $43,375,484 20.93%
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 $0 $0 0.0%
Total Liabilities $262,645 $57,417 357.43%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $243,145 $44,462 446.86%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $19,500 $12,955 50.52%
Net Assets $75,255,876 $67,081,002 12.19%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • American Funds
  • Federated
  • Harbor
  • T. Rowe

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
Pnc Bank, Na Trustee (directed), Sub-transfer agency fees, Distribution (12b-1) fees, Shareholder servicing fees $71,500 $0 $71,500
Path Administrators Contract Administrator $30,600 $0 $30,600
BPAS Recordkeeping and information management (computing, tabulating, data processing, etc.) $28,000 $0 $28,000
Mcgrail Merkel Quinn & Assoc., P.C. Accounting (including auditing) $9,500 $0 $9,500
Meranze Katz and Gaudioso Pc Legal $9,000 $0 $9,000
Kang Haggerty & Fetbroyt Legal $9,000 $0 $9,000
Fabian & Byrn LLC Contract Administrator $7,705 $0 $7,705
Total $165,305 $0 $165,305

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Pnc Bank, Na American Funds - Europacific 10 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na American Funds - New Perspec 10 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na Harbor Capital Appreciation 25 Basis Points Annually - 63 $0
Pnc Bank, Na Federated Total Return 25 Basis Points Annually - 59 5 Basis Points Annually - 60 $0
Pnc Bank, Na T Rowe Price Retire 2010 15 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na T Rowe Price Retire 2020 15 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na T Rowe Price Retire 2030 15 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na T Rowe Price Retire 2040 15 Basis Points Annually - 60 25 Basis Points Annually - 63 $0
Pnc Bank, Na T Rowe Price Retire 2050 15 Basis Points Annually - 60 25 Basis Points Annually - 63 $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
Ibew Stable Asset Fund Pnc Bank, Na DFE: Common/Collective Trust $21,114,681
Total $21,114,681

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.