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FORM 5500 DATA

Arizona State Carpenters' Annuity Trust Fund

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1984
  • Net Assets as of 12/31/2019 $104,072,961
  • Plan Number2
  • 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 12/31/2019

  • Active (Eligible) Participants4,427
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits0
  • Subtotal4,427
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total4,427
  • Total number of participants as of 01/01/20194,693
  • Number of participants with account balances4,427
  • 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

  • Address2001 W Camelback Rd Ste B350
  • CityPhoenix
  • StateAZ
  • Zip85015-7404
  • Telephone(602) 264-1804
  • EIN86-6056025
  • Industry Code238900
  • Named AdministratorWlliam Martin
  • Named Plan SponsorThomas Dunn

Audit Information

  • Audit StatusAudited
  • AuditorBaldwin Moffit PLLC
  • Auditor EIN46-4370753
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)

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? Yes $36,692,295
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? Yes
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 $18,813,516
Contributions $0
Cash Contributions $0
Cash from Employers $0
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $18,798,731
Total Interest $10,387
Interest-Bearing Cash $10,387
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 $1,117,947
Preferred Stock $0
Common Stock $270,052
Rents $0
Net gain (loss) on sale of assets $291,152
Aggregate Proceeds $14,560,122
Aggregate Carrying Amount $14,268,970
Total Unrealized Appreciation (depreciation) of assets $13,237,556
Real Estate $0
Other $13,237,556
Net investment gain (loss) from common/collective trusts $2,720,461
Net investment gain (loss) from pooled separate accounts $0
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 $1,421,228
Other Income $14,785
Expenses $5,907,748
Total Benefit Payments $5,293,266
Directly to participants or beneficiaries, including direct rollovers $5,293,266
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $614,482
Professional Fees $68,230
Contract Administrator Fees $95,419
Investment Advisory and management fees $375,765
Other Administrative Fees $75,068
Net Income $12,905,768
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 $104,227,686 $91,288,313 14.17%
Total noninterest-bearing cash $81,511 $-26,620 -406.20%
Receivables $59,641 $36,097 65.22%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $59,641 $36,097 65.22%
General Investments $236,330 $547,935 -56.87%
Interest-bearing cash $236,330 $547,935 -56.87%
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 $22,771,780 $18,712,211 21.69%
Preferred $0 $0 0.0%
Common $22,771,780 $18,712,211 21.69%
Partnership/joint venture interests $36,692,295 $29,993,986 22.33%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $22,102,251 $21,936,790 0.75%
Value of interest in pooled separate accounts $0 $0 0.0%
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 $22,283,878 $20,087,914 10.93%
Value of funds held in insurance co. general account $0 $0 0.0%
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 $0 $0 0.0%
Total Liabilities $154,725 $121,120 27.75%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $154,725 $121,120 27.75%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $104,072,961 $91,167,193 14.16%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Allianz Global Investors U.S. LLC
  • Western Asset Management Company
  • Blackstone Alternative Asset Mgt

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
Fisher Investments Investment management NONE $186,916 $0 $186,916
Asb Capital Management, LLC Trustee (directed), Investment management NONE $127,922 $0 $127,922
Zenith American Solutions Participant communication, Copying and duplicating, Recordkeeping and information management (computing, tabulating, data processing, etc.), Plan Administrator, Claims processing NONE $101,627 $0 $101,627
Segal Marco Advisors Consulting (pension) NONE $59,000 $0 $59,000
Wells Fargo Bank Custodial (securities) NONE $40,919 $0 $40,919
Segal Select Insurance Insurance brokerage commissions and fees NONE $22,191 $3,822 $26,013
Baldwin & Baldwin PLLC Accounting (including auditing) NONE $25,000 $0 $25,000
Jennings, Strouss & Salmon Plc Legal NONE $19,608 $0 $19,608
The Segal Company Consulting (general) NONE $16,770 $0 $16,770
Stegall, Katz & Whitaker Pc Legal NONE $6,852 $0 $6,852
Total $606,805 $3,822 $610,627

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
Asb Allegiance Real Estate Fund Chevy Chase Fund DFE: Common/Collective Trust $12,167,062
Harding Loevner Intl Equity Collect Global Trust Company - Harding Loevner DFE: Common/Collective Trust $9,935,189
Total $22,102,251

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.