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Board of Trustees of the Architectural Iron Workers Local No. 63 Defined Contribution Pension Trust Fund

Plan Rating
FORM 5500 DATA

Architectural Iron Workers Local No. 63 Defined Contribution Pension Trust Fund

Overview

Plan Information

  • Plan Year06/01/2017 — 05/31/2018
  • Date of Plan06/01/1987
  • Net Assets as of 05/31/2018 $207,615,857
  • 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 Arrangement Trust

Participant Information as of 05/31/2018

  • Active (Eligible) Participants3,266
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits0
  • Subtotal3,266
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total3,266
  • Total number of participants as of 06/01/20173,150
  • Number of participants with account balances3,266
  • 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

  • Address1520 Kensington
  • CityOakbrook
  • StateIL
  • Zip60523-2139
  • Telephone(630) 472-0627
  • EIN36-3519910
  • Industry Code525100

Audit Information

  • Audit StatusAudited
  • AuditorCalibre CPA Group
  • Auditor EIN47-0900880
  • 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? Yes $29,130,355
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 $32,607,270
Contributions $19,098,144
Cash Contributions $19,098,144
Cash from Employers $16,556,957
Cash from Participants $0
Others (including rollovers) $2,541,187
Noncash Contributions $0
Total Earnings on Investments $13,395,053
Total Interest $17,484
Interest-Bearing Cash $17,484
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 $9,077,434
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 $725,941
Net investment gain (loss) from pooled separate accounts $465,705
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 $3,108,489
Other Income $114,073
Expenses $9,494,171
Total Benefit Payments $9,267,176
Directly to participants or beneficiaries, including direct rollovers $9,267,176
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 $226,995
Professional Fees $94,623
Contract Administrator Fees $60,000
Investment Advisory and management fees $44,050
Other Administrative Fees $28,322
Net Income $23,113,099
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 $207,785,242 $184,633,812 12.54%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,904,502 $1,649,175 15.48%
Employer Contributions $1,904,502 $1,648,825 15.51%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $350 0.0%
General Investments $3,096,830 $1,338,366 131.39%
Interest-bearing cash $3,096,830 $1,338,366 131.39%
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 $15,329,216 $14,527,852 5.52%
Value of interest in pooled separate accounts $29,130,355 $26,692,884 9.13%
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 $158,312,562 $140,413,850 12.75%
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 $11,777 $11,685 0.79%
Total Liabilities $169,385 $131,054 29.25%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $97,465 $59,134 64.82%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $71,920 $71,920 0.00%
Net Assets $207,615,857 $184,502,758 12.53%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Dodge & Cox Funds
  • John Hancock Investments
  • Nuveen Asset Management LLC
  • T Rowe Price Associates
  • Invesco Ltd.
  • Vanguard Group, Inc
  • American Funds
  • Manning and Napier
  • Mainstay Funds

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
Benefits Management Group Inc. Plan Administrator NONE $60,000 $0 $60,000
Gregorio & Associates Legal NONE $52,135 $0 $52,135
Dimeo Schneider & Associates, LLC Consulting (pension) NONE $44,050 $0 $44,050
Calibre CPA Group, PLLC Accounting (including auditing) NONE $34,998 $0 $34,998
Legacy Professionals, LLP Accounting (including auditing) NONE $7,490 $0 $7,490
Amalgamated Bank of Chicago Custodial (securities) NONE $6,305 $0 $6,305
Total $204,978 $0 $204,978

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.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
New York Life Anchor Account New York Life Insurance Company DFE: Pooled Separate Account $29,130,355
Manning and Napier Non-Us Equity Exeter Trust Company DFE: Common/Collective Trust $15,329,216
Total $44,459,571

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life & Hlth Ins Co 3,266
EIN 13-5582869
Industry Code 66915
Contract Number 30500
Contract Year 06/01/2017 — 05/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $29,130,355
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0