Home>401K Directory>Monroe Plumbers Pipefitters Local 671 Retirement Plan And Trust>Form 5500

Monroe Plumbers & Pipefitters Local 671

Plan Rating

Overview Financials Service Providers Investments Insurance Information

FORM 5500 DATA

Monroe Plumbers & Pipefitters Local 671 Retirement Plan and Trust

Plan Rating

Overview Financials Service Providers Investments Insurance Information

Overview

Plan Information

Plan Year01/01/2019 — 12/31/2019
Date of Plan05/01/1962
Net Assets as of 12/31/2019 $51,094,192
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 ArrangementInsurance Trust

Participant Information as of 12/31/2019

Active (Eligible) Participants228
Retired or separated participants receiving benefits24
Other retired or separated participants entitled to future benefits28
Subtotal280
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits9
Total289
Total number of participants as of 01/01/2019275
Number of participants with account balances289
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

Audit Information

Audit StatusAudited
AuditorTitus & Urbanski, Inc.
Auditor EIN34-1695540
Audit OpinionUnqualified
Audit Type Full Audit

Benefits Provided Under the Plan

Code	Benefit	Description
2C	Money purchase	A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
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?	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

$10,845,328

Contributions

$1,703,227

Cash Contributions

$1,703,227

	Cash from Employers	$1,330,365
	Cash from Participants	$102,506
	Others (including rollovers)	$270,356

Noncash Contributions

Total Earnings on Investments

$9,202,101

Total Interest

	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

$958,457

	Preferred Stock	$0
	Common Stock	$0

Rents

Net gain (loss) on sale of assets

	Aggregate Proceeds	$0
	Aggregate Carrying Amount	$0

Total Unrealized Appreciation (depreciation) of assets

	Real Estate	$0
	Other	$0

Net investment gain (loss) from common/collective trusts

Net investment gain (loss) from pooled separate accounts

Net investment gain (loss) from master trust investment accounts

Net investment gain (loss) from 103-12 investment entities

Net investment gain (loss) from registered investment companies

$8,243,644

Other Income

$-60,000

Expenses

$6,506,587

Total Benefit Payments

$6,450,656

	Directly to participants or beneficiaries, including direct rollovers	$6,450,656
	To insurance carriers for the provision of benefits	$0
	Other Benefit Payment Fees	$0

Corrective Distributions

Certain deemed distributions of participant loans

Interest expense

Total Administrative Expenses

$55,931

	Professional Fees	$0
	Contract Administrator Fees	$0
	Investment Advisory and management fees	$0
	Other Administrative Fees	$55,931

Net Income

$4,338,741

	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

$51,119,423

$46,782,896

9.27%

Total noninterest-bearing cash

0.0%

Receivables

$86,350

$117,133

-26.28%

Employer Contributions	$85,165	$115,772	-26.44%
Participant Contributions	$0	$0	0.0%
Other Contributions	$1,185	$1,361	-12.93%

General Investments

$362,365

$163,651

121.43%

Interest-bearing cash

$362,365

$163,651

121.43%

U.S. Government Securities

0.0%

Corporate Debt Instruments

0.0%

	Preferred		$0	$0	0.0%
	All Other		$0	$0	0.0%

Corporate Stocks

0.0%

	Preferred		$0	$0	0.0%
	Common		$0	$0	0.0%

Partnership/joint venture interests

0.0%

Real estate (other than employer real property)

0.0%

Loans (other than to participants)

0.0%

Participants Loans

0.0%

Value of interest in common/collective trusts

0.0%

Value of interest in pooled separate accounts

$2,331,375

$3,824,153

-39.04%

Value of interest in master trust investment accounts

0.0%

Value of interest in 103-12 investment entities

0.0%

Value of interest in registered investment companies

$48,290,384

$42,663,017

13.19%

Value of funds held in insurance co. general account

$48,949

$14,942

227.59%

Other Investments

0.0%

Employer-related Investments

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%

Total Liabilities

$25,231

$27,445

-8.07%

Benefit Claims Payable (1)	$0	$0	0.0%
Operating Payables (1)	$25,231	$27,445	-8.07%
Acquisition Indebtedness (1)	$0	$0	0.0%
Other liabilities (1)	$0	$0	0.0%

Net Assets

$51,094,192

$46,755,451

9.28%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

Transamerica Retirement Solutions

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
Transamerica Retirement Solutions	Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees	Recordkeeper	$60,000	$0	$60,000
Novara, Tesija, PLLC	Legal, Direct payment from the plan	Legal	$18,100	$0	$18,100
Tic International Corporation	Consulting (general), Direct payment from the plan	Record Keeper	$12,405	$0	$12,405
Titus & Urbanski, Inc.	Accounting (including auditing), Direct payment from the plan	Auditor	$11,000	$0	$11,000
Total			$101,505	$0	$101,505

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

Name of Investment	Investment Manager	Type of Investment	Dollar Value
Guaranteed Pooled Fund	Transamerica Financial Life Insurance Company	DFE: Pooled Separate Account	$2,331,375
Total			$2,331,375

Insurance Information

Insurance Carrier Summary

Persons Covered

Transamerica Financial Life Insurance Company

289

EIN

36-6071399

Industry Code

70688

Contract Number

UN62229

Contract Year

01/01/2019 â€” 12/31/2019

Value in General Account at Year End

$14,942

Value in Separate Accounts at Year End

$2,331,375

Insurance Fees and Commissions

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

Guaranteed Investment

Balance at the end of the previous year

$14,942

Additions

	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

$14,942

Deductions

	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

$14,942