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Monroe Plumbers & Pipefitters Local 671
Plan RatingFORM 5500 DATA
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
Sponsor Information
- Address6525 Centurion Dr
- CityLansing
- StateMI
- Zip48917
- Telephone(517) 321-7502
- EIN38-6082588
- Industry Code238220
- Named AdministratorMike Jewell
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Expenses | $6,506,587 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Income | $4,338,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Asset and Liability Statement
12/31/2019 | 12/31/2018 | Change YOY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Assets | $51,119,423 | $46,782,896 | 9.27% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Liabilities | $25,231 | $27,445 | -8.07% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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
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 Information
Insurance Carrier Summary | Persons Covered | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Transamerica Financial Life Insurance Company | 289 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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