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Point Loma Nazarene University Retirement Plan


Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan03/02/1962
  • Net Assets as of 12/31/2017 $112,187,979
  • Plan Number1
  • 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 12/31/2017

  • Active (Eligible) Participants606
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits397
  • Subtotal1,003
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total1,006
  • Total number of participants as of 01/01/20171,021
  • Number of participants with account balances1,003
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address3900 Lomaland Drive
  • CitySan Diego
  • StateCA
  • Zip92106
  • Telephone(619) 849-2200
  • EIN95-1644035
  • Industry Code611000
  • Named AdministratorJeff Herman

Audit Information

  • Audit StatusAudited
  • AuditorInsero & Co. CPAS, LLP
  • Auditor EIN47-5324570
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
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.
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.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

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 $1,000,000
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


Income and Expense Statement

Income $20,392,935
Contributions $6,050,318
Cash Contributions $6,050,318
Cash from Employers $2,625,620
Cash from Participants $2,891,673
Others (including rollovers) $533,025
Noncash Contributions $0
Total Earnings on Investments $14,313,898
Total Interest $1,045,990
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $1,045,990
Total Dividends $1,284,478
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 $253,642
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 $11,729,788
Other Income $28,719
Expenses $7,967,007
Total Benefit Payments $7,924,767
Directly to participants or beneficiaries, including direct rollovers $7,924,767
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 $42,240
Professional Fees $13,200
Contract Administrator Fees $0
Investment Advisory and management fees $25,000
Other Administrative Fees $4,040
Net Income $12,425,928
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $112,187,979 $99,762,051 12.46%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
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 $5,990,871 $6,012,629 -0.36%
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 $78,746,669 $66,828,065 17.83%
Value of funds held in insurance co. general account $27,278,902 $26,861,078 1.56%
Other Investments $171,537 $60,279 184.57%
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 $112,187,979 $99,762,051 12.46%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Cref-Tiaa-Cref Investment Managemen
  • T. Rowe Price
  • Tiaa-Cref Mutual Funds-Teachers Adv
  • John Hancock
  • Oppenheimer Funds
  • Causeway

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
Multnomah Group Investment advisory (plan), Direct payment from the plan NONE $25,000 $0 $25,000
Insero & Co. CPAS, LLP Accounting (including auditing), Direct payment from the plan NONE $13,200 $0 $13,200
Tiaa-Teachers Insurance and Annuity Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Participant communication, Direct payment from the plan, Investment management fees paid indirectly by plan NONE $4,040 $0 $4,040
Total $42,240 $0 $42,240

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.



Name of Investment Investment Manager Type of Investment Dollar Value
Tiaa Real Estate Tiaa-Cref DFE: Pooled Separate Account $5,990,871
Total $5,990,871

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Tiaa-Cref 631
EIN 13-1624203
Industry Code 69345
Contract Number 150289
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $27,278,902
Value in Separate Accounts at Year End $49,957,572
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 $26,861,078
Additions $2,314,653
Contributions Deposited during the year $574,700
Dividends and credits $0
Interest credited during the year $1,045,990
Transferred from separate account $665,244
Other $28,719
Total of Balance and Additions $29,175,731
Deductions $1,896,829
Disbursed from fund to pay benefits or purchase annuities during the year $1,330,122
Administration charge made by carrier $0
Transferred to Separate Account $524,467
Other $42,240
Balance at the end of the current year $27,278,902