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U.A. Plumbers & Steamfitters Local No. 22 Annuity Plan
Plan RatingFORM 5500 DATA
Overview
Plan Information
- Plan Year05/01/2014 — 04/30/2015
- Date of Plan05/01/2003
- Net Assets as of 04/30/2015 $28,352,554
- 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 Arrangement Trust
- Plan Benefit Arrangement Trust
Participant Information as of 04/30/2015
- Active (Eligible) Participants979
- Retired or separated participants receiving benefits2
- Other retired or separated participants entitled to future benefits85
- Subtotal1,066
- Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
- Total1,069
- Total number of participants as of 05/01/20141,016
- Number of participants with account balances1,009
- 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
- Address3651 California Road, Suite 3
- CityOrchard Park
- StateNY
- Zip14127
- Telephone(716) 662-1816
- EIN77-0596978
- Industry Code525100
- Named AdministratorMike Mcnally
- Named Plan SponsorDave Muskopf
Audit Information
- Audit StatusAudited
- AuditorArcara Zucarelli Lenda & Straka CPA
- Auditor EIN47-1793720
- 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. |
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 | $2,500,000 |
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 | $5,133,839 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Expenses | $1,596,453 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Income | $3,537,386 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Asset and Liability Statement
04/30/2015 | 04/30/2014 | Change YOY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Assets | $28,375,151 | $24,845,606 | 14.21% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Liabilities | $22,597 | $30,438 | -25.76% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Assets | $28,352,554 | $24,815,168 | 14.25% |
Service Providers
Persons Receiving Only Eligible Indirect Compensation
There is no information on eligible indirect compensation for this plan.
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 |
---|---|---|---|---|---|
Ubs Financial Services | Investment advisory (plan), Other fees | NONE | $11,805 | $0 | $11,805 |
Arcara & Borczynski LLP | Accounting (including auditing) | NONE | $11,400 | $0 | $11,400 |
Transamerica Retirement Solutions | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | Recordkeeper | $0 | $0 | $0 |
National Financial Services | Securities brokerage, Securities brokerage commissions and fees | Recordkeeper | $0 | $0 | $0 |
Total | $23,205 | $0 | $23,205 |
Indirect Compensation
Name | Source of Indirect Compensation* | Nature of Service | Description of Indirect Compensation | Indirect Compensation Paid by Plan |
---|---|---|---|---|
Ubs Financial Services | Money Market Funds | Investment advisory (plan), Other fees | 0.07%-0.13% | $0 |
Ubs Financial Services | Mutual Funds | Investment advisory (plan), Other fees | 0.05%-0.06% | $0 |
Ubs Financial Services | Annuity Distributions | Investment advisory (plan), Other fees | 0.10% | $0 |
Ubs Financial Services | Alternative Investments | Investment advisory (plan), Other fees | 0.16% | $0 |
Transamerica Retirement Solutions | American Funds | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 34.146 Basis Points | $0 |
Transamerica Retirement Solutions | Manning & Napier | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 34.146 Basis Points | $0 |
Transamerica Retirement Solutions | Neuberger Berman | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 39.024 Basis Points | $0 |
Transamerica Retirement Solutions | Pimco | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 27.317 and 37.073 Basis Points | $0 |
Transamerica Retirement Solutions | Principal | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 39.024 Basis Points | $0 |
Transamerica Retirement Solutions | T Rowe Price | Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant communication, Sales loads (front end and deferred), Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees | 14.634 Basis Points | $0 |
National Financial Services | American Funds | Securities brokerage, Securities brokerage commissions and fees | .854 Basis Points | $0 |
National Financial Services | Manning & Napier | Securities brokerage, Securities brokerage commissions and fees | .854 Basis Points | $0 |
National Financial Services | Neuberger Berman | Securities brokerage, Securities brokerage commissions and fees | .976 Basis Points | $0 |
National Financial Services | Pimco | Securities brokerage, Securities brokerage commissions and fees | .683 and .927 Basis Points | $0 |
National Financial Services | Principal | Securities brokerage, Securities brokerage commissions and fees | .976 Basis Points | $0 |
National Financial Services | T Rowe Price | Securities brokerage, Securities brokerage commissions and fees | .366 Basis Points | $0 |
*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 |
---|---|---|---|
Retirement Target 2040 Institut Cit | Exeter Trust Company | DFE: Common/Collective Trust | $6,631,680 |
Retirement Target 2030 Institut Cit | Exeter Trust Company | DFE: Common/Collective Trust | $6,625,020 |
Retirement Target 2020 Institut Cit | Exeter Trust Company | DFE: Common/Collective Trust | $3,972,381 |
Retirement Target 2050 Institut Cit | Exeter Trust Company | DFE: Common/Collective Trust | $1,177,491 |
Diversified Investment Advisors Tru | Transamerica Retirement Solutions Corporation | DFE: Common/Collective Trust | $469,503 |
Retirement Target 2010 Institut Cit | Exeter Trust Company | DFE: Common/Collective Trust | $163,177 |
Retirement Target Income Cit | Exeter Trust Company | DFE: Common/Collective Trust | $69,432 |
Total | $19,108,684 |
Insurance Information
Insurance Information
There are no insurance carriers listed for this plan.