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Retirement plan

DESERET MUTUAL MASTER RETIREMENT PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #001PY 2018
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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-$3.38B assets#004Retirement-$123.7M assets#005Retirement-$899K 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 10/11/2019
How to read this page

Summary metrics

Total assets (EOY)
$6309M
-7.9% from 2016
Total participants
36,742
+1.9% from 2016
Average account balance
$0
No prior year
Annual return
-0.41%
-8.88 pp from 2016

Benchmarks

See 42 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort42 peers
Snapshot2018
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$18,346
median $4,259
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $7,764,297
Admin fee / account holder
$0
median $62,356
Annual return
-0.41%
median -4.24%
Overall peer rank
70th 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 32 by compensation
ProviderService typeCompensation
JP MORGAN INVEST MGMT2 years
Service code 27 · EIN 13-3200244
Advisory (Plan)
$1,733,708
FISHER INVESTMENTS4+ years
Service code 28 · EIN 20-2480800
Investment Management
$1,659,081
CITY OF LONDON INVEST MGMT CO LTD2 years
Service code 28
Investment Management
$1,134,501
SOUTHEASTERN ASSET MANAGEMENT2 years
Service code 28 · EIN 62-0951781
Investment Management
$1,003,267
ARTISAN PARTNERS LP1 year
Service code 51 · EIN 30-0551775
Investment Mgmt Fees
$798,944
NEUBERGER BERMAN INV ADV LLC2 years
Service code 28
1290 AVE OF THE AMERICAS · NEW YORK, NY 10104
Investment Management
$795,667
SANDS CAPITAL MANAGEMENT LLC1 year
Service code 28 · EIN 20-2830751
Investment Management
$595,252
ZAZOVE ASSOCIATES LLC2 years
Service code 28 · EIN 36-3984373
Investment Management
$548,471
TIMESSQUARE CAPITAL MANAGEMENT4+ years
Service code 28 · EIN 20-1665304
Investment Management
$465,562
MACQUARIE INVEST MGMT ADVISORS2 years
Service code 28 · EIN 23-2859590
Investment Management
$456,597

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 2019-09-27

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
$24.1M
$1694 / participant
  • Investment mgmt$21M87.2%
  • Other / not subdivided$3M12.8%
% of EOY assets
0.381%
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