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Retirement plan

DESERET MUTUAL MASTER RETIREMENT PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #001PY 2016
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PO BOX 45530 - SALT LAKE CITY, UT 841450530801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
4 filings
#003Retirement-$3.17B assets#004Retirement-$51.7M assets#005Retirement-$914K assets#007Retirement--
Prospect flagsHigh retiree %

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(801) 578-5795
Plan administrator signer
MICHAEL J. RASBAND
Signed 10/11/2017
How to read this page

Summary metrics

Total assets (EOY)
$5627.5M
-7.9% from 2016
Total participants
38,585
+1.9% from 2016
Average account balance
$0
No prior year
Annual return
7.98%
-8.88 pp from 2016

Benchmarks

See 46 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort46 peers
Snapshot2016
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$17,300
median $6,902
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $40,289
Admin fee / account holder
$0
median $312
Annual return
7.98%
median 7.07%
Overall peer rank
73rd percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$7.07B
Average account balance
Total assets / participants with a balance (line 6g)
$219K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
22,451
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
$199K
Contributions per participant
Average employer and participant contribution per enrolled participant
$19
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-4.15%
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 41 by compensation
ProviderService typeCompensation
FISHER INVESTMENTS2+ years
Service code 28 · EIN 20-2480800
Investment Management
$1,766,545
JP MORGAN INVESTMENT MANAGEMENT INC2+ years
Service code 27 · EIN 13-3200244
Advisory (Plan)
$1,637,627
SOUTHEASTERN ASSET MANAGEMENT, INC.2+ years
Service code 28 · EIN 62-0951781
Investment Management
$1,364,004
ARTISAN PARTNERS LIMITED PARTNERSHI2+ years
Service code 28 · EIN 30-0551775
Investment Management
$1,318,744
LEVINE LEICHTMAN CAPITAL PARTNERS,2+ years
Service code 28 · EIN 95-4475693
Investment Management
$1,306,885
HORIZON ASSET MANAGEMENT2+ years
Service code 28 · EIN 13-3776334
Investment Management
$1,160,777
ZAZOVE ASSOCIATES, LLC2+ years
Service code 28 · EIN 36-3984373
Investment Management
$869,102
PORTFOLIO ADVISORS1 year
Service code 28 · EIN 06-1487853
Investment Management
$548,120
SANDS CAPITAL MANAGEMENT, LLC2+ years
Service code 28 · EIN 20-2830751
Investment Management
$509,706
TIMESSQUARE CAPITAL MANAGEMENT2+ years
Service code 28 · EIN 20-1665304
Investment Management
$469,971

Enrolled actuary

1 attachment
SB

DAVID PRATT WARD

DESERET MUTUAL BENEFIT ADMIN.
Enrollment #1704388
150 SOCIAL HALL AVENUE, SUITE 170
P.O. BOX 45530
SALT LAKE CITY, UT 841450530
(801) 578-5973
Signed 2017-10-02

Plan features & details

Pension benefit codes1A1E3H3J
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
  • 3J
    U.S.-based Puerto Rico dual-qualified plan
    U.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

1 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$20.5M
$1314 / participant
  • Investment mgmt$17M83.5%
  • Other / not subdivided$3M16.5%
% of EOY assets
0.364%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
DELOITTE & TOUCHE LLP
Auditor EIN
113891517
Audit fees
(not subdivided)
Opinion code
Unqualified