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FORM 5500 DATA

New York City District Council of Carpenters Annuity Fund

Overview

Plan Information

  • Plan Year07/01/2017 — 06/30/2018
  • Date of Plan07/01/1966
  • Net Assets as of 06/30/2018 $2,692,483,703
  • 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 06/30/2018

  • Active (Eligible) Participants19,393
  • Retired or separated participants receiving benefits236
  • Other retired or separated participants entitled to future benefits18,920
  • Subtotal38,549
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total38,550
  • Total number of participants as of 07/01/201737,957
  • Number of participants with account balances38,550
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested16

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address395 Hudson Street
  • CityNew York
  • StateNY
  • Zip10014
  • Telephone(212) 366-7300
  • EIN51-0174279
  • Industry Code236200

Audit Information

  • Audit StatusAudited
  • AuditorSchultheis & Panettieri, LLP
  • Auditor EIN13-1577780
  • 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.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
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 $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? Yes $1,965,259
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 $383,289,296
Contributions $183,340,415
Cash Contributions $183,340,415
Cash from Employers $180,680,796
Cash from Participants $438,449
Others (including rollovers) $2,221,170
Noncash Contributions $0
Total Earnings on Investments $193,030,176
Total Interest $40,543,766
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $3,337,535
Interest from Other Investments $37,206,231
Total Dividends $0
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 $152,486,410
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 $0
Other Income $6,918,705
Expenses $145,834,242
Total Benefit Payments $129,584,008
Directly to participants or beneficiaries, including direct rollovers $129,584,008
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $13,086,296
Interest expense $0
Total Administrative Expenses $3,163,938
Professional Fees $1,191,019
Contract Administrator Fees $0
Investment Advisory and management fees $55,964
Other Administrative Fees $1,916,955
Net Income $237,455,054
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2018 06/30/2017 Change YOY
Total Assets $2,692,738,193 $2,455,291,185 9.67%
Total noninterest-bearing cash $54,271 $-647,649 -108.38%
Receivables $29,281,200 $22,248,867 31.61%
Employer Contributions $11,523,000 $10,274,000 12.16%
Participant Contributions $0 $0 0.0%
Other Contributions $17,758,200 $11,974,867 48.30%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
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 $73,050,244 $72,794,408 0.35%
Value of interest in common/collective trusts $16,586,974 $23,963,539 -30.78%
Value of interest in pooled separate accounts $1,246,441,820 $1,079,263,473 15.49%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $1,326,977,271 $1,257,255,541 5.55%
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 $346,413 $413,006 -16.12%
Total Liabilities $254,490 $262,536 -3.06%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $254,490 $262,536 -3.06%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $2,692,483,703 $2,455,028,649 9.67%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Retirement Ins & Ann 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
Ford Harrison LLP Consulting (general), Direct payment from the plan NONE $77,050 $0 $77,050
Schultheis & Panettieri LLP Accounting (including auditing), Direct payment from the plan NONE $65,000 $0 $65,000
Gallagher Fiduciary Advisors LLC Investment advisory (plan), Investment management fees paid directly by plan NONE $52,571 $0 $52,571
Kauff Mcguire & Margolis LLP Legal, Direct payment from the plan NONE $37,840 $0 $37,840
The Segal Company (Eastern States) Consulting (general), Direct payment from the plan NONE $10,000 $0 $10,000
Bank of New York Mellon Custodial (securities), Direct payment from the plan, Investment management fees paid directly by plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue NONE $3,393 $0 $3,393
Total $245,854 $0 $245,854

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
Large Cap Growth/Jp Morgan Inv Mgmt Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $292,659,119
Large Cap Value/Lsv Asset Mgmt Fd Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $275,422,047
Small Cap Value/Kennedy Capital Fd Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $189,079,773
Small Cap Growth/Rbc Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $157,846,994
International Blend/Aqr Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $157,785,183
Dryden S & P 500 Index Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $56,989,050
Core Bond/Pim Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $38,012,582
International Blend/Lazard Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $30,934,710
Lifetime Aggressive Growth Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $20,327,751
Eb Temporary Investment Fund The Bank of New York Mellon DFE: Common/Collective Trust $16,586,974
High Yield Bond/Prudential Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $10,509,135
Midcap Growth/Frontier Capital Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $6,764,610
Mid Cap Value/Qma Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $6,764,610
Government Securities/Pim Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $2,074,637
Prudential Tips Enhanced Index Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $1,271,619
Total $1,263,028,794

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 38,550
EIN 06-1050034
Industry Code 93629
Contract Number 38640
Contract Year 07/01/2017 — 06/30/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $1,246,441,820
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $1,257,255,541
Additions $413,983,799
Contributions Deposited during the year $93,322,622
Dividends and credits $0
Interest credited during the year $36,197,070
Transferred from separate account $268,382,413
Other $16,081,694
Total of Balance and Additions $1,671,239,340
Deductions $344,262,069
Disbursed from fund to pay benefits or purchase annuities during the year $71,726,465
Administration charge made by carrier $23,411
Transferred to Separate Account $253,922,324
Other $18,589,869
Balance at the end of the current year $1,326,977,271