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International Brotherhood of Electrical Workers, Local 712, Profit Sharing Trust Fund


Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1983
  • Net Assets as of 12/31/2017 $58,593,059
  • Plan Number3
  • 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) Participants656
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits132
  • Subtotal789
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total789
  • Total number of participants as of 01/01/2017752
  • Number of participants with account balances789
  • 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

  • Address401 Liberty Ave, 3 Gateway Center Suite 1200
  • CityPittsburgh
  • StatePA
  • Zip15222-1004
  • Telephone(412) 471-2885
  • EIN25-1297810
  • Industry Code525100

Audit Information

  • Audit StatusAudited
  • AuditorPacker Thomas
  • Auditor EIN34-1667340
  • 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.

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 $2,000,000
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


Income and Expense Statement

Income $9,753,798
Contributions $2,259,081
Cash Contributions $2,259,081
Cash from Employers $2,259,081
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $7,494,717
Total Interest $241,203
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $12,789
Interest from Other Investments $228,414
Total Dividends $100,667
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 $3,738,435
Net investment gain (loss) from pooled separate accounts $1,821,102
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 $1,593,310
Other Income $0
Expenses $2,752,873
Total Benefit Payments $2,580,597
Directly to participants or beneficiaries, including direct rollovers $2,435,151
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $145,446
Corrective Distributions $0
Certain deemed distributions of participant loans $43,752
Interest expense $0
Total Administrative Expenses $128,524
Professional Fees $27,923
Contract Administrator Fees $41,052
Investment Advisory and management fees $49,715
Other Administrative Fees $9,834
Net Income $7,000,925
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 $58,619,932 $51,662,054 13.47%
Total noninterest-bearing cash $22,356 $22,647 -1.28%
Receivables $257,439 $158,056 62.88%
Employer Contributions $257,439 $158,056 62.88%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
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 $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 $332,579 $273,234 21.72%
Value of interest in common/collective trusts $20,312,309 $17,734,299 14.54%
Value of interest in pooled separate accounts $16,301,746 $14,563,164 11.94%
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 $9,282,142 $7,041,739 31.82%
Value of funds held in insurance co. general account $12,111,361 $11,868,915 2.04%
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 $26,873 $69,920 -61.57%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $26,873 $69,920 -61.57%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $58,593,059 $51,592,134 13.57%

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
Zenith-American Solutions Contract Administrator NONE $41,052 $0 $41,052
Bolton Partners Inc Consulting (general) NONE $29,125 $0 $29,125
Prudential Investment management NONE $20,590 $0 $20,590
Meyer, Unkovic & Scott LLP Legal NONE $14,083 $0 $14,083
Packer Thomas Accounting (including auditing) NONE $13,840 $0 $13,840
Segal Select Insurance Insurance brokerage commissions and fees NONE $6,347 $0 $6,347
Total $125,037 $0 $125,037

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
Ibew-Neca Equity Index Fund Chevy Chase Trust DFE: Common/Collective Trust $20,312,309
Retirement Goal 2050 Fund Prudential Retirement Ins DFE: Pooled Separate Account $3,082,856
Core Bond Enhan Index Prudential Retirement Ins DFE: Pooled Separate Account $2,911,485
Retirement Goal 2040 Fund Prudential Retirement Ins DFE: Pooled Separate Account $2,887,816
Retirement Goal 2030 Fund Prudential Retirement Ins DFE: Pooled Separate Account $1,547,151
Balanced I/Wellington Mgt Prudential Retirement Ins DFE: Pooled Separate Account $1,324,618
Mid Cap Growth/Artisan Prudential Retirement Ins DFE: Pooled Separate Account $1,307,026
Retirement Goal 2020 Fund Prudential Retirement Ins DFE: Pooled Separate Account $1,278,976
Mid Cap Val/Robeco Bost Prudential Retirement Ins DFE: Pooled Separate Account $839,165
Retirement Goal 2010 Fund Prudential Retirement Ins DFE: Pooled Separate Account $419,557
Small Cap Value/Victory Prudential Retirement Ins DFE: Pooled Separate Account $364,303
Retirement Goal Income Fund Prudential Retirement Ins DFE: Pooled Separate Account $338,793
Total $36,614,055

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 789
EIN 06-1050034
Industry Code 93629
Contract Number 039293
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $12,111,361
Value in Separate Accounts at Year End $16,301,746
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
Balance at the end of the previous year $11,868,915
Additions $1,037,211
Contributions Deposited during the year $207,180
Dividends and credits $0
Interest credited during the year $228,414
Transferred from separate account $472,719
Other $128,898
Total of Balance and Additions $12,906,126
Deductions $794,765
Disbursed from fund to pay benefits or purchase annuities during the year $378,300
Administration charge made by carrier $24
Transferred to Separate Account $124,588
Other $291,853
Balance at the end of the current year $12,111,361