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Board of Trustees of Iron Workers Local 17 Annuity Fund

Plan Rating


Plan Information

  • Plan Year05/01/2017 — 04/30/2018
  • Date of Plan12/20/1971
  • Net Assets as of 04/30/2018 $58,677,070
  • 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 04/30/2018

  • Active (Eligible) Participants877
  • Retired or separated participants receiving benefits15
  • Other retired or separated participants entitled to future benefits358
  • Subtotal1,250
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits20
  • Total1,270
  • Total number of participants as of 05/01/20171,203
  • Number of participants with account balances1,270
  • 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

  • AddressP.O. Box 6327
  • CityCleveland
  • StateOH
  • Zip44101-1327
  • Telephone(216) 241-1086
  • EIN34-1290643
  • Industry Code237990
  • Named AdministratorRichard Jordan
  • Named Plan SponsorTim Linville

Plan Administrator Information

  • Administrator NameIron Workers Local 17 Annuity Fund
  • AddressP.O. Box 6327
  • CityCleveland
  • StateOH
  • Zip44101-1327
  • Telephone(216) 241-1086
  • Administrator EIN34-1290643

Audit Information

  • Audit StatusAudited
  • AuditorRea & Associates, Inc.
  • Auditor EIN34-1310124
  • 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.
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


Income and Expense Statement

Income $8,047,819
Contributions $4,671,134
Cash Contributions $4,671,134
Cash from Employers $4,526,066
Cash from Participants $145,068
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $3,226,894
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 $982,285
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 $108,572
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 $2,136,037
Other Income $149,791
Expenses $4,259,832
Total Benefit Payments $4,134,632
Directly to participants or beneficiaries, including direct rollovers $4,134,632
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 $125,200
Professional Fees $12,413
Contract Administrator Fees $67,046
Investment Advisory and management fees $25,000
Other Administrative Fees $20,741
Net Income $3,787,987
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

04/30/2018 04/30/2017 Change YOY
Total Assets $58,774,014 $54,997,577 6.87%
Total noninterest-bearing cash $164,670 $33,310 394.36%
Receivables $1,193,743 $685,852 74.05%
Employer Contributions $548,579 $277,447 97.72%
Participant Contributions $0 $0 0.0%
Other Contributions $645,164 $408,405 57.97%
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 $0 $0 0.0%
Value of interest in common/collective trusts $5,430,250 $5,474,979 -0.82%
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 $51,985,351 $48,803,436 6.52%
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 $96,944 $108,494 -10.65%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $96,944 $108,494 -10.65%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $58,677,070 $54,889,083 6.90%

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
Local 17 Fringe Benefit Fund Contract Administrator Admin Fee Expense $67,046 $0 $67,046
Segal Advisors, Inc. Investment advisory (plan) Investment Advisory $25,000 $0 $25,000
Tramer, Shore & Zwick CPA's Accounting (including auditing) Auditor $7,350 $0 $7,350
Goldstein, Gragel LLC Legal Attorney Fees $5,063 $0 $5,063
Total $104,459 $0 $104,459

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

Name Position Explanation
Tramer Share & Zwick Auditor Trustees Elected To Change Audit Forms Due To A Change In Professional Staffing. A CPA That Performed Auditing Services Joined The Firm of The Audit for The Current Plan Year.



Name of Investment Investment Manager Type of Investment Dollar Value
Putnam Stable Value Fund Putnam Fiduciary Trust Co. DFE: Common/Collective Trust $5,430,250
Total $5,430,250

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.