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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan12/02/2004
  • Net Assets as of 12/31/2019 $2,742,558,839
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants5,227
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits3,597
  • Subtotal8,824
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits40
  • Total8,864
  • Total number of participants as of 01/01/20198,953
  • Number of participants with account balances8,588
  • 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

  • Address6501 William Cannon Drive West
  • CityAustin
  • StateTX
  • Zip78735
  • Telephone(512) 895-2714
  • EIN20-0443182
  • Industry Code334410
  • Named AdministratorMary Mcclure
  • Named Plan SponsorShannon Eckerle

Audit Information

  • Audit StatusAudited
  • AuditorAtchley & Associates, LLP
  • Auditor EIN74-2920819
  • 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.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.

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 $32,500,000
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 $648,353,970
Contributions $97,477,329
Cash Contributions $97,477,329
Cash from Employers $31,069,691
Cash from Participants $61,703,437
Others (including rollovers) $4,704,201
Noncash Contributions $0
Total Earnings on Investments $547,902,872
Total Interest $21,829,622
Interest-Bearing Cash $837,739
U.S. Government Securities $3,294,168
Corporate Debt Instruments $4,216,461
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $13,481,254
Total Dividends $19,196,520
Preferred Stock $0
Common Stock $9,126,971
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $272,836,775
Real Estate $0
Other $272,836,775
Net investment gain (loss) from common/collective trusts $124,710,426
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 $109,329,529
Other Income $2,973,769
Expenses $198,489,438
Total Benefit Payments $191,278,445
Directly to participants or beneficiaries, including direct rollovers $191,278,445
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $80,840
Interest expense $0
Total Administrative Expenses $7,130,153
Professional Fees $555,565
Contract Administrator Fees $0
Investment Advisory and management fees $6,574,588
Other Administrative Fees $0
Net Income $449,864,532
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 $2,874,235,758 $2,442,208,941 17.69%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $38,558,205 $26,711,335 44.35%
Employer Contributions $2,819,319 $3,122,140 -9.70%
Participant Contributions $0 $0 0.0%
Other Contributions $35,738,886 $23,589,195 51.51%
General Investments $110,664,163 $82,277,882 34.50%
Interest-bearing cash $9,276,091 $1,897,133 388.95%
U.S. Government Securities $95,640,746 $74,180,277 28.93%
Corporate Debt Instruments $133,339,756 $128,755,864 3.56%
Preferred $5,747,326 $6,200,472 -7.31%
All Other $127,592,430 $122,555,392 4.11%
Corporate Stocks $846,024,192 $654,700,827 29.22%
Preferred $0 $0 0.0%
Common $846,024,192 $654,700,827 29.22%
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 $14,877,329 $15,475,422 -3.86%
Value of interest in common/collective trusts $635,317,224 $154,389,762 311.50%
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 $497,172,650 $795,157,038 -37.47%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $604,029,565 $590,941,283 2.21%
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 $131,676,919 $149,514,634 -11.93%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $3,029,843 $2,495,738 21.40%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $128,647,076 $147,018,896 -12.50%
Net Assets $2,742,558,839 $2,292,694,307 19.62%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Dimensional Fund Advisors Lp
  • Wcm Investment Management
  • Oakmark Equity and Income
  • Vanguard

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
Janus Capital Management, LLC Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions, Securities brokerage commissions and fees NONE $1,549,997 $0 $1,549,997
Eagle Capital Management, LLC Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $1,006,320 $0 $1,006,320
Artisan Partners Ltd Partnership Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $716,151 $0 $716,151
Driehaus Capital Management LLC Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $682,563 $0 $682,563
Northern Trust Company Trustee (bank, trust company, or similar financial institution), Direct payment from the plan, Other commissions NONE $528,725 $0 $528,725
Boston Partners Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions, Securities brokerage commissions and fees NONE $525,606 $0 $525,606
Western Asset Management Company Investment management, Direct payment from the plan, Investment management fees paid directly by plan NONE $466,926 $0 $466,926
Metropolitian West Asset Management Investment management, Direct payment from the plan, Investment management fees paid directly by plan NONE $337,269 $0 $337,269
Goldman Sachs Asset Management Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Investment management fees paid indirectly by plan NONE $284,855 $0 $284,855
Fiduciary Trust Intl of The South Investment management, Direct payment from the plan, Investment management fees paid directly by plan NONE $259,439 $0 $259,439
Earnest Partners, LLC Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $257,948 $0 $257,948
Guided Choice Investment advisory (participants), Investment management, Direct payment from the plan, Investment management fees paid directly by plan NONE $235,813 $0 $235,813
Jh Ellwood & Associates Inc Investment advisory (plan), Direct payment from the plan NONE $190,000 $0 $190,000
Vaughan Nelson Investment Mgmt Lp Investment management, Direct payment from the plan, Investment management fees paid directly by plan, Soft dollars commissions NONE $61,699 $0 $61,699
Pershing LLC Shareholder servicing fees, Finders' fees/placement fees NONE $0 $30,306 $30,306
Atchley and Associates LLP Accounting (including auditing), Direct payment from the plan NONE $26,840 $0 $26,840
Alight Financial Solutions, LLC Securities brokerage, Finders' fees/placement fees, Distribution (12b-1) fees NONE $0 $10,887 $10,887
Alight Solutions, LLC Recordkeeping and information management (computing, tabulating, data processing, etc.), Shareholder servicing fees, Sub-transfer agency fees, Other fees NONE $0 $0 $0
Total $7,130,151 $41,193 $7,171,344

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Alight Solutions, LLC Guidedchoice Other fees $4 Per eligible Participant for Online Advice and Managed Accounts $0
Alight Financial Solutions, LLC Pershing LLC Finders' fees/placement fees Finder's Fee $5,018
Alight Financial Solutions, LLC Multiple Mutual Fund Company Distribution (12b-1) fees Aggregated Investment Manager Fund Fees $5,869
Pershing LLC Multiple Mutual Fund Companies Shareholder servicing fees Shareholder Servicing Fees $3,444
Pershing LLC Multiple Mutual Fund Companies Finders' fees/placement fees Finder's Fee $26,862
Alight Solutions LLC Oakmark Equity & Income Inv. Sub-transfer agency fees 0.35% of Assets Annually $0
Alight Solutions LLC Wcm Focused International Growth Shareholder servicing fees 0.15% of Assets Annually $0
Alight Financial Solutions LLC Pershing LLC Securities brokerage commissions and fees Securities Brokerage Commissions and Fees $69,037
Alight Financial Solutions LLC Pershing LLC Other fees Other Fee $4,897
*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
Mfo Vanguard Inst 500 Index Trust Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $474,925,795
Arrowstreet Global Equity Acwi Cit Global Trust Company - Arrowstreet DFE: Common/Collective Trust $64,819,214
Franklin Templeton Global Multisect Fiduciary Trust International of The South DFE: Common/Collective Trust $56,559,491
Collective S/T Investment Fund The Northern Trust Company DFE: Common/Collective Trust $23,756,833
Western Asset Opportunistic Struct Western Asset Management Co. DFE: Common/Collective Trust $15,255,891
Total $635,317,224

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.