Back to top

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1996
  • Net Assets as of 12/31/2017 $345,675,000
  • Plan Number2
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants1,196
  • Retired or separated participants receiving benefits167
  • Other retired or separated participants entitled to future benefits352
  • Subtotal1,715
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits13
  • Total1,728
  • Total number of participants as of 01/01/20171,740
  • Number of participants with account balances1,632
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested4

Expenses

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

Sponsor Information

  • AddressTreasury, Dept V310, Bldg Ap34-3N 1 North Waukegan Road
  • CityNorth Chicago
  • StateIL
  • Zip60064-1802
  • Telephone(847) 932-7900
  • EIN98-0429860
  • Industry Code325410
  • Named AdministratorMike Thomas

Audit Information

  • Audit StatusAudited
  • AuditorErnst & Young LLP
  • Auditor EIN34-6565596
  • 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.
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.
3C Plan not intended to be qualified A plan not intended to be qualified under Code sections 401, 403, or 408.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $50,000,000
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 $102,072,000
Contributions $10,968,000
Cash Contributions $10,968,000
Cash from Employers $3,388,000
Cash from Participants $7,580,000
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $91,104,000
Total Interest $297,000
Interest-Bearing Cash $-3,000
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $300,000
Interest from Other Investments $0
Total Dividends $6,761,000
Preferred Stock $0
Common Stock $5,075,000
Rents $0
Net gain (loss) on sale of assets $7,200,000
Aggregate Proceeds $54,272,000
Aggregate Carrying Amount $47,072,000
Total Unrealized Appreciation (depreciation) of assets $61,172,000
Real Estate $0
Other $61,172,000
Net investment gain (loss) from common/collective trusts $7,181,000
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 $8,493,000
Other Income $0
Expenses $12,599,000
Total Benefit Payments $12,416,000
Directly to participants or beneficiaries, including direct rollovers $12,416,000
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 $183,000
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $27,000
Other Administrative Fees $156,000
Net Income $89,473,000
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 $345,873,000 $256,586,000 34.80%
Total noninterest-bearing cash $109,000 $200,000 -45.50%
Receivables $44,000 $38,000 15.79%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $44,000 $38,000 15.79%
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 $45,285,000 $34,989,000 29.43%
Preferred $0 $0 0.0%
Common $45,285,000 $34,989,000 29.43%
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 $8,760,000 $9,393,000 -6.74%
Value of interest in common/collective trusts $52,903,000 $30,017,000 76.24%
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 $99,645,000 $69,672,000 43.02%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $139,127,000 $112,277,000 23.91%
Employer Securities $139,127,000 $112,277,000 23.91%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $198,000 $384,000 -48.44%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $197,000 $213,000 -7.51%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,000 $171,000 -99.42%
Net Assets $345,675,000 $256,202,000 34.92%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • The Northern Trust Company
  • Grantham Mayo Van Otterloo Co LLC
  • Pacific Investment Management Corp.
  • Wellington Trust Company Na
  • Vanguard Fiduciary Trust Company
  • The American Funds Group
  • Diamond Hill Funds
  • J.P. Morgan Mutual Funds
  • State Street Global Advisors

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
Aon Consulting Consulting (pension), Direct payment from the plan NONE $146,748 $0 $146,748
Blackrock Trustee (bank, trust company, or similar financial institution), Trustee (discretionary), Investment management, Direct payment from the plan, Investment management fees paid directly by plan NONE $26,934 $0 $26,934
Total $173,682 $0 $173,682

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

Name Position Explanation
Grant Thornton LLP Auditor Business Decision.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vftc Institutional 500 Index Trust Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $20,479,000
Vftc Inst Extended Market Index Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $11,465,000
Ssga Target Retirement 2020 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $5,622,000
Ssga Target Retirement 2025 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $4,741,000
Ssga Target Retirement 2030 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $4,408,000
Ssga Target Retirement 2035 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $1,716,000
Ssga Target Retirement 2015 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $1,208,000
Ssga Target Retirement 2040 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $845,000
Ssga Target Retirement Inc Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $632,000
Ssga Target Retirement 2045 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $621,000
Ssga Target Retirement 2060 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $422,000
Ssga Target Retirement 2055 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $264,000
Ssga Target Retirement 2050 Nl Cl K State Street Global Advisors Trust Company DFE: Common/Collective Trust $260,000
Nt Cl Short Term Investment Fund Northern Trust Investments, Inc. DFE: Common/Collective Trust $220,000
Wtc-Cif II Intl Small Cap Equity Fd Wellington Trust Company, N.A. DFE: Common/Collective Trust $0
Wellington Mid Cap Growth Fund Wellington Trust Company, N.A. DFE: Common/Collective Trust $0
Total $52,903,000

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.