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FORM 5500 DATA

The Association of University Physicians Pension Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1984
  • Net Assets as of 12/31/2018 $276,440,619
  • Plan Number1
  • Plan Type Single 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 12/31/2018

  • Active (Eligible) Participants2,457
  • Retired or separated participants receiving benefits135
  • Other retired or separated participants entitled to future benefits873
  • Subtotal3,465
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits8
  • Total3,473
  • Total number of participants as of 01/01/20183,065
  • Number of participants with account balances2,794
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested48

Expenses

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

Sponsor Information

  • Address701 5th Avenue Suite 700
  • CitySeattle
  • StateWA
  • Zip98104
  • Telephone(206) 520-5778
  • EIN91-1220843
  • Industry Code621112
  • Named AdministratorMaureen Hooley

Audit Information

  • Audit StatusAudited
  • AuditorClark Nuber, Ps
  • Auditor EIN91-1194016
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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)
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

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 $2,000,000
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 $3,372,293
Contributions $16,054,429
Cash Contributions $16,054,429
Cash from Employers $15,929,795
Cash from Participants $0
Others (including rollovers) $124,634
Noncash Contributions $0
Total Earnings on Investments $-12,682,136
Total Interest $1,897,182
Interest-Bearing Cash $10,885
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $1,886,297
Total Dividends $5,285,208
Preferred Stock $0
Common Stock $14,522
Rents $0
Net gain (loss) on sale of assets $4,506
Aggregate Proceeds $1,418,224
Aggregate Carrying Amount $1,413,718
Total Unrealized Appreciation (depreciation) of assets $2,761
Real Estate $0
Other $2,761
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $209,106
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 $-20,080,899
Other Income $0
Expenses $14,009,706
Total Benefit Payments $13,931,629
Directly to participants or beneficiaries, including direct rollovers $12,967,093
To insurance carriers for the provision of benefits $964,536
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $78,077
Professional Fees $0
Contract Administrator Fees $3,077
Investment Advisory and management fees $0
Other Administrative Fees $75,000
Net Income $-10,637,413
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $276,440,619 $287,078,032 -3.71%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $26,772 -100.00%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $26,772 -100.00%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $4,312,560 $4,586,507 -5.97%
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 $215,472,114 $228,169,063 -5.56%
Value of funds held in insurance co. general account $50,467,581 $48,642,960 3.75%
Other Investments $6,188,364 $5,652,730 9.48%
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 $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $276,440,619 $287,078,032 -3.71%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fid Inst Inv Ops Co
  • TIAA

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
Fid Inv Inst Ops Co Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $78,202 $0 $78,202
Tiaa-Cref Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (pension), Direct payment from the plan Recordkeeper $3,077 $0 $3,077
Kibble & Prentice Consulting (general), Investment advisory (plan), Direct payment from the plan Investment $32 $0 $32
Total $81,311 $0 $81,311

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fid Inv Instl Ops Co Amg Managers Silver Crest Small Cap Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Amg Managers Fair Pointe Mid Cap Cl Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Johcm International Small Cap Eq Cl Sub-transfer agency fees 0.08% $0
Fid Inv Instl Ops Co Carillon Scout Mid Cap Fund Cl I Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Cohen & Steers Real Estate Securiti Sub-transfer agency fees 0.08% $0
Fid Inv Instl Ops Co Delaware Emerging Markets Fund Cl R Sub-transfer agency fees 0.08% $0
Fid Inv Instl Ops Co Dws Short Dur Fd Inst Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co Dws Enhanced Commodity Strat Inst Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co American Euopacific Growth Class F1 Sub-transfer agency fees 0.37% $0
Fid Inv Instl Ops Co Fmi International Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Fmi Common Stock Fund Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Victory S Estb Val I Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co First Eagle Global Class A Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Gabelli Small Cap Growth Aaa Sub-transfer agency fees 0.35% $0
Fid Inv Instl Ops Co Oakmark Intl Investor Cl Sub-transfer agency fees 0.35% $0
Fid Inv Instl Ops Co Hartford World Bonf Fund Cl I Sub-transfer agency fees 0.15% $0
Fid Inv Instl Ops Co Iva Worldwide Fund Cl A Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Jensen Quality Growth Fd Cl J Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Jp Morgan Equity Income Fund Cl A Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Mfs International Diversification C Sub-transfer agency fees 0.08% $0
Fid Inv Instl Ops Co Metropolitan West Low Duration Clas Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co American New World Class F1 Sub-transfer agency fees 0.37% $0
Fid Inv Instl Ops Co Northern Small Cap Value Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Pnc International Equity Fd Cl A Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Parnassus Mid Cap Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Parnassus Core Equity Instl Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co Pimco Income Fund Cl A Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Principal High Yield Instl Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co Akre Focus Fund Retail Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Pgim Total Return Bond Cl Z Sub-transfer agency fees 0.15% $0
Fid Inv Instl Ops Co Pgim Total Return Bond Cl R2 Sub-transfer agency fees 0.08% $0
Fid Inv Instl Ops Co T Rowe Price Blue Chip Growth Inc Sub-transfer agency fees 0.15% $0
Fid Inv Instl Ops Co Usaa Precious Metals and Minerals R Sub-transfer agency fees 0.10% $0
Fid Inv Instl Ops Co The Appleseed Fund Sub-transfer agency fees 0.40% $0
Fid Inv Instl Ops Co Jpm Mip Cap Val I Sub-transfer agency fees 0.15% $0
Fid Inv Instl Ops Co Jpm Value Adv L Sub-transfer agency fees 0.15% $0
Fid Inv Instl Ops Co Pioneer Bond Y Sub-transfer agency fees 0.35% $0
Fid Inv Instl Ops Co Standard Stable Value Sub-transfer agency fees 0.25% $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
Tiaa Real Estate Tiaa-Cref DFE: Pooled Separate Account $4,312,560
Total $4,312,560

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Tiaa-Cref 1,314
EIN 13-1624203
Industry Code 69345
Contract Number 101743
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $40,167,560
Value in Separate Accounts at Year End $80,884,334
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 Guaranteed Investment
Balance at the end of the previous year $39,321,941
Additions $3,007,452
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,655,813
Transferred from separate account $1,351,639
Other $0
Total of Balance and Additions $42,329,393
Deductions $2,161,833
Disbursed from fund to pay benefits or purchase annuities during the year $1,510,052
Administration charge made by carrier $0
Transferred to Separate Account $498,113
Other $153,668
Balance at the end of the current year $40,167,560
Standard Insurance Company 308
EIN 93-0242990
Industry Code 69019
Contract Number 808659A
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $10,300,021
Value in Separate Accounts at Year End $0
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 STABLE VALUE FUND
Balance at the end of the previous year $9,321,019
Additions $12,908,863
Contributions Deposited during the year $535,228
Dividends and credits $0
Interest credited during the year $230,484
Transferred from separate account $12,143,116
Other $35
Total of Balance and Additions $22,229,882
Deductions $11,929,861
Disbursed from fund to pay benefits or purchase annuities during the year $891,474
Administration charge made by carrier $-16,436
Transferred to Separate Account $11,054,823
Other $0
Balance at the end of the current year $10,300,021