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FORM 5500 DATA
Overview
Plan Information
- Plan Year01/01/2019 — 12/31/2019
- Date of Plan10/01/1971
- Net Assets as of 12/31/2019 $7,635,331,374
- Plan Number2
- Plan Type Single Employer
- Is the plan collectively bargained? No
- 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) Participants75,186
- Retired or separated participants receiving benefits827
- Other retired or separated participants entitled to future benefits15,616
- Subtotal91,629
- Deceased participants whose beneficiaries are receiving or are entitled to receive benefits56
- Total91,685
- Total number of participants as of 01/01/201986,133
- Number of participants with account balances82,618
- Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1,669
Expenses
- Total Benefit Payments$0
- Corrective Distributions$0
- Administrative Service Providers$0
- Other Expenses$0
- Total Expenses$0
- Total Transfers$0
Sponsor Information
- Address200 First Street SW
- CityRochester
- StateMN
- Zip55905
- Telephone(507) 284-0126
- EIN41-6011702
- Industry Code621112
- Named AdministratorWilliam Brown
- Named Plan SponsorWilliam Brown
Audit Information
- Audit StatusAudited
- AuditorErnst & Young
- Auditor EIN34-6565596
- Audit Opinion Disclaimer
- Audit TypeLimited Scope Audit
Benefits Provided Under the Plan
Code | Benefit | Description |
---|---|---|
2L | Code section 403(b)(1) arrangement | A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers. |
2M | Code section 403(b)(7) accounts | A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations. |
2R | Brokerage Window | Participant-directed brokerage accounts provided as an investment option under the plan. |
3H | Controlled Group | Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)). |
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 | $10,000,000 |
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 | $1,894,982,467 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Expenses | $296,852,972 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Income | $1,598,129,495 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Asset and Liability Statement
12/31/2019 | 12/31/2018 | Change YOY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Assets | $7,635,331,374 | $6,037,201,879 | 26.47% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Liabilities | $0 | $0 | 0.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Assets | $7,635,331,374 | $6,037,201,879 | 26.47% |
Service Providers
Persons Receiving Only Eligible Indirect Compensation
- Fidelity Investments Inst Op Co
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 |
---|---|---|---|---|---|
Financial Engines | Investment advisory (plan), Direct payment from the plan | Advisor | $5,495,195 | $0 | $5,495,195 |
Fidelity Inv Ins Op Com, Inc | Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees | Recordkeeper | $161,322 | $1,794,864 | $1,956,186 |
Total | $5,656,517 | $1,794,864 | $7,451,381 |
Indirect Compensation
Name | Source of Indirect Compensation* | Nature of Service | Description of Indirect Compensation | Indirect Compensation Paid by Plan |
---|---|---|---|---|
Fidelity Inv Inst Op Co, Inc | Baron Growth-Dst | Sub-transfer agency fees | Annualized Formula .40% | $0 |
Fidelity Inv Inst Op Co, Inc | Baron Growth Inst | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Bnym Global Stock I Bnym Trans Inc | Sub-transfer agency fees | Annualized Formula .35% | $0 |
Fidelity Inv Inst Op Co, Inc | Cref Social Choice | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Cref Stock Account | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Dodge & Cox Balanced | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Dodge & Cox Income | Sub-transfer agency fees | Annualized Formula .08% | $0 |
Fidelity Inv Inst Op Co, Inc | Dodge & Cox Intl Stk | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Co, Inc | Dodge & Cox Stock | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Hartford Cap App Y | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Hlic Fixed Account | Sub-transfer agency fees | Annualized Formula .20% | $0 |
Fidelity Inv Inst Op Co, Inc | Hlic Fixed Account | Sub-transfer agency fees | Annualized Formula .20% | $0 |
Fidelity Inv Inst Op Co, Inc | Nb Genesis Inst Cl | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Oakmark Eq & Inc Inv - Dst | Sub-transfer agency fees | Annualized Formula .35% | $0 |
Fidelity Inv Inst Op Co, Inc | Oakmark Global Inv - Dst | Sub-transfer agency fees | Annualized Formula .25% | $0 |
Fidelity Inv Inst Op Co, Inc | Oakmark Select Inv - Dst | Sub-transfer agency fees | Annualized Formula .35% | $0 |
Fidelity Inv Inst Op Co, Inc | Tiaa Real Estate | Sub-transfer agency fees | Annualized Formula .10% | $0 |
Fidelity Inv Inst Op Co, Inc | Tiaa Traditional Fa | Sub-transfer agency fees | Annualized Formula .07% | $0 |
Fidelity Inv Inst Op Co, Inc | Tmpl Global Bond A | Sub-transfer agency fees | Annualized Formula .40% | $0 |
Fidelity Inv Inst Op Co, Inc | Tmpl Global Bond Adv | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Trp Intl Discovery | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Trp New Asia | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Trp New Era | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Trp New Horizons | Sub-transfer agency fees | Annualized Formula .15% | $0 |
Fidelity Inv Inst Op Co, Inc | Financial Engines | Other fees | An Annual Fee of 7.5 Basis Points On Aum With Fe and A $ Annual Platform Fee for Each Advice eligible Participant In Plans Where Contract Includes Such Fee | $1,794,864 |
*As outlined by the Form 5500 Instructions for service providers with indirect compensation. |
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 |
---|---|---|---|
Tiaa Real Estate | Teachers Insurance & Annuity Assoc of America | DFE: Pooled Separate Account | $7,251,015 |
Total | $7,251,015 |
Insurance Information
Insurance Information
Insurance Carrier Summary | Persons Covered | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Tiaa-Cref | 20,944 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Hartford Life Insurance Company | 3,410 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Lincoln Financial Group | 968 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Prudential Insurance Company of America | 335 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Valic | 317 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Hartford Life Insurance Company | 288 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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