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Local 81 International Association of Heat & Frost Insulators & Allied Workers

Plan Rating

International Association of Heat & Frost Insulators & Allied Workers Local #81 AFL-CIO, Cedar Rapids, Iowa Retirement Savings Plan


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan06/01/1998
  • Net Assets as of 12/31/2019 $9,893,687
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants73
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits82
  • Subtotal155
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total155
  • Total number of participants as of 01/01/2019156
  • Number of participants with account balances155
  • 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

  • Address1700 52nd Ave Ste B
  • CityMoline
  • StateIL
  • Zip61265
  • Telephone(309) 764-8080
  • EIN36-4318955
  • Industry Code238220
  • Named AdministratorBill Grimm

Audit Information

  • Audit StatusAudited
  • AuditorRomolo & Associates, LLC
  • Auditor EIN84-2885766
  • 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.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

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 $2,503,127
Contributions $470,232
Cash Contributions $470,232
Cash from Employers $470,232
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $2,032,895
Total Interest $409
Interest-Bearing Cash $409
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 $386,364
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 $0
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 $1,646,122
Other Income $0
Expenses $708,687
Total Benefit Payments $642,463
Directly to participants or beneficiaries, including direct rollovers $642,463
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 $66,224
Professional Fees $29,187
Contract Administrator Fees $16,439
Investment Advisory and management fees $11,204
Other Administrative Fees $9,394
Net Income $1,794,440
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $9,903,918 $8,106,489 22.17%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $45,329 $30,207 50.06%
Employer Contributions $45,290 $30,173 50.10%
Participant Contributions $0 $0 0.0%
Other Contributions $39 $34 14.71%
General Investments $7,599 $1,489 410.34%
Interest-bearing cash $7,599 $1,489 410.34%
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 $0 $0 0.0%
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 $9,848,804 $8,072,612 22.00%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $2,186 $2,181 0.23%
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 $10,231 $7,242 41.27%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $10,231 $7,242 41.27%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $9,893,687 $8,099,247 22.16%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Vanguard 500 Index Admiral
  • T. Rowe Price Mid Cap Growth
  • Dfa Emerging Markets Core Equity 1
  • Dfa Us Small Cap Value
  • Fidelity Contra Fund
  • Vanguard Windsor II Admiral
  • Vanguard Interm-Term Us Treasury Fu
  • Vanguard Federal Money Market Fund
  • Vanguard Small Cap Index
  • Vanguard Wellington A
  • Vanguard International Growth Admir

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
Lane & Waterman Recordkeeping and information management (computing, tabulating, data processing, etc.), Direct payment from the plan NONE $16,748 $0 $16,748
American Trust Retirment Recordkeeping and information management (computing, tabulating, data processing, etc.), Direct payment from the plan NONE $13,439 $0 $13,439
Romolo & Associates, LLC Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Participant communication, Sub-transfer agency fees NONE $12,439 $0 $12,439
Mg Trust Company Custodial (securities), Trustee (bank, trust company, or similar financial institution), Trustee (directed), Direct payment from the plan NONE $6,204 $0 $6,204
Investment Consulting Group Investment advisory (plan), Direct payment from the plan NONE $5,000 $0 $5,000
Total $53,830 $0 $53,830

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.



No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.