PlanOptica
Retirement plan

DESERET MUTUAL MASTER RETIREMENT PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #001PY 2020
Sign in to saveView 5500 PDF
PO BOX 45530 - SALT LAKE CITY, UT 841450530801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
2 filings
#003Retirement-$4.81B assets#005Retirement-$1.2M assets
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 10/15/2021
How to read this page

Summary metrics

Total assets (EOY)
$8038.7M
-7.9% from 2016
Total participants
35,550
+1.9% from 2016
Average account balance
$0
No prior year
Annual return
13.94%
-8.88 pp from 2016

Benchmarks

See 33 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort33 peers
Snapshot2020
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$20,516
median $4,345
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
13.94%
median 13.94%
Overall peer rank
53rd 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 33 by compensation
ProviderService typeCompensation
JP MORGAN INVEST MGMT4 years
Service code 51 · EIN 13-3200244
Investment Mgmt Fees
$1,580,633
PRUDENTIAL INSURANCE CO4 years
Service code 51 · EIN 22-1211670
Investment Mgmt Fees
$972,231
SOUTHEASTERN ASSET MANAGEMENT4 years
Service code 51 · EIN 62-0951781
Investment Mgmt Fees
$942,754
SANDS CAPITAL MANAGEMENT2 years
Service code 28 · EIN 20-2830751
Investment Management
$705,305
CHARLESBANK CAPITAL PARTNERS LLC1 year
Service code 51
200 CLARENDON STREET · BOSTON, MA 02116
Investment Mgmt Fees
$674,162
CITY OF LONDON INVST MGMT CO LTD2 years
Service code 28
Investment Management
$554,470
ARTISAN PARTNERS LIMITED PARTNERSHI6+ years
Service code 51 · EIN 30-0551775
Investment Mgmt Fees
$524,521
FISHER INVESTMENTS6+ years
Service code 51 · EIN 20-2480800
Investment Mgmt Fees
$481,734
ZAZOVE ASSOCIATES LLC4 years
Service code 51 · EIN 36-3984373
Investment Mgmt Fees
$480,208
EAGLE CAPITAL MANAGEMENT4 years
Service code 28 · EIN 22-3361201
Investment Management
$455,331

Enrolled actuary

1 attachment
SB

DAVID PRATT WARD

DESERET MUTUAL BENEFIT ADMIN.
Enrollment #2004388
150 SOCIAL HALL AVENUE, SUITE 170
P.O. BOX 45530
SALT LAKE CITY, UT 841450530
(801) 578-5973
Signed 2021-09-23

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
$23.8M
$1840 / participant
  • Investment mgmt$20M84.7%
  • Other / not subdivided$4M15.3%
% of EOY assets
0.296%
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
133891517
Audit fees
(not subdivided)
Opinion code
Unqualified