Retirement plan
IBM PERSONAL PENSION PLAN
INTERNATIONAL BUSINESS MACHINES CORPORATIONEIN 13-0871985Plan #001PY 2016
NEW ORCHARD ROAD, MD 261 - ARMONK, NY 10504800-796-9876
Other plans on this EIN
2 filingsProspect flagsHigh retiree %Wind-down / frozen
Filing contacts
From the Form 5500, federal recordPlan administrator signer
GREGG NELSON
Signed 09/28/2017
Summary metrics
Total assets (EOY)
$52864M
-0.5% from 2016
Total participants
281,793
+2.1% from 2016
Average account balance
$0
No prior year
Annual return
7.04%
-8.05 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort244 peers
Snapshot2016
0
Participant deferral / active EE
$0
median $34
0
Employer contribution / active EE
$0
median $6,216
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $40,289
0
Admin fee / account holder
$0
median $312
53
Annual return
7.04%
median 6.89%
Overall peer rank
53of 100
53rd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$17.92B
Average account balance
Total assets / participants with a balance (line 6g)
$124K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
101,614
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
Not enough data
0 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
Not enough data
0 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+2.47%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 50 by compensation
| Provider | Service type | Compensation |
|---|---|---|
BRIDGEWATER2+ years Service code 51 · EIN 13-2871809 | Investment Mgmt Fees | $13,037,850 |
FESCO2+ years Service code 14 · EIN 04-3275867 | Plan Administrator | $11,579,595 |
AEW CAPITAL MANAGEMENT2+ years Service code 51 · EIN 04-3329433 | Investment Mgmt Fees | $7,619,587 |
JP MORGAN CHASE BANK, NA2+ years Service code 27 · EIN 13-4994650 | Advisory (Plan) | $6,918,712 |
NISA INVESTMENT ADVISORS2+ years Service code 51 · EIN 48-1140940 | Investment Mgmt Fees | $5,241,543 |
IBM2+ years Service code 15 · EIN 13-0871925 | Recordkeeping | $4,799,674 |
Service code 11 · EIN 53-0181291 | Actuarial | $4,784,851 |
PIMCO2+ years Service code 51 · EIN 33-0629048 | Investment Mgmt Fees | $4,633,867 |
CLARION PARTNERS LLC2+ years Service code 51 · EIN 13-3379970 | Investment Mgmt Fees | $4,020,054 |
JP MORGAN INVESTMENT MGMT2+ years Service code 27 · EIN 13-3200244 | Advisory (Plan) | $3,852,122 |
Enrolled actuary
1 attachment
SB
ALYSON J. SCHEFKIND
TOWERS WATSON DELAWARE INC.
Enrollment #1708379
335 MADISON AVE.
NEW YORK, NY 10017
(212) 309-3402
Signed 2017-09-11
Reportable transactions (Schedule G)
37 rows
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 1 Loan in default | MORRISON KNUDSEN CORPORATION | — | 720 PARK BOULEVARD P.O. BOX 73 BOISE, ID 83712 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | QUEBECOR WORLD INC | — | — | — |
| Part 1 Loan in default | QUEBECOR WORLD INC | — | — | — |
| Part 1 Loan in default | SIGMA FINANCE INC | — | 4261 PARK ROAD ANN ARBOR, MI 48103 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 127 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | AFREN PLC, KINNAIRD HOUSE | — | — | — |
| Part 1 Loan in default | AFREN PLC, KINNAIRD HOUSE | — | — | — |
| Part 1 Loan in default | GLITNIR BANK | — | — | — |
| Part 1 Loan in default | HARRAH'S JAZZ COMPANY | — | 925 SOUTH WHITE STREET NEW ORLEANS, LA 70125 | — |
| Part 1 Loan in default | HOLLINGER | — | — | — |
| Part 1 Loan in default | INTANDEM FILMS PLC | — | — | — |
| Part 1 Loan in default | HOMELAND STORES, INC | — | 23 EAST 33RD STREET EDMOND, OK 73013 | — |
| Part 1 Loan in default | LEAR CORPORATION | — | 21557 TELEGRAPH ROAD SOUTHFIELD, MI 48033 | — |
| Part 1 Loan in default | LEAR CORPORATION | — | 21557 TELEGRAPH ROAD SOUTHFIELD, MI 48033 | — |
| Part 1 Loan in default | LEAR CORPORATION | — | 21557 TELEGRAPH ROAD SOUTHFIELD, MI 48033 | — |
| Part 1 Loan in default | LEHMAN BROTHERS CAP TR VII | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC | — | 1271 6TH AVENUE NEW YORK, NY 10018 | — |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084664CE9 3/8/2016 | — | $435K |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084664CG4 3/8/2016 | — | $545K |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084670BQ0 3/8/2016 | — | $434K |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084670BR8 3/08/2016 | — | $1.1M |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084670BS6 3/8/2016 | — | $974K |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084664CE9 3/9/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) BUY 084670BS6 3/9/2016 | — | $30K |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BR8 3/10/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BR8 3/10/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084664CG4 3/14/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BQ0 3/15/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BQ0 3/15/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BR8 3/16/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BS6 9/19/2016 | — | $0 |
| Part 3 Non-exempt transaction | WELLS CAPITAL MANAGEMENT, INC. | FIDUCIARY (INVESTMENT MANAGER) SELL 084670BS6 9/19/2016 | — | $0 |
Plan features & details
Pension benefit codes1A1C1I3H3J
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
- 1IFrozen planAs of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
- 3JU.S.-based Puerto Rico dual-qualified planU.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.
Opportunity flags
2 tripped
- InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
- InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Expense breakdown
Schedule H Part II
Admin total
$140.9M
$4058 / participant
- Investment mgmt$95M67.3%
- Contract admin$17M12.3%
- Other / not subdivided$29M20.4%
% of EOY assets
0.267%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- PRICEWATERHOUSECOOPERS LLP
- Auditor EIN
- 134008324
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified