PlanOptica
Retirement plan

DESERET MUTUAL MASTER RETIREMENT PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #001PY 2024
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PO BOX 45530 - SALT LAKE CITY, UT 841450530801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
2 filings
#003Retirement-$6.15B assets#005Retirement-$1.8M assets
Prospect flagsHigh retiree %Low returnsWind-down / frozen

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 10/12/2025
How to read this page

Summary metrics

Total assets (EOY)
$7071.8M
-7.9% from 2016
Total participants
32,235
+1.9% from 2016
Average account balance
$0
No prior year
Annual return
-4.15%
-8.88 pp from 2016

Benchmarks

See 186 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants5,000-9,999
Cohort186 peers
Snapshot2024
Participant deferral / active EE
$0
median $247
Employer contribution / active EE
$0
median $6,320
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
-4.15%
median 6.71%
Overall peer rank
3rd 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 48 by compensation
ProviderService typeCompensation
JP MORGAN INVEST MGMT8 years
Service code 51 · EIN 13-3200244
Investment Mgmt Fees
$1,723,418
VOYA INVESTMENT LLC4 years
Service code 51 · EIN 06-1440627
Investment Mgmt Fees
$905,906
PRUDENTIAL INSURANCE CO8 years
Service code 51 · EIN 22-1211670
Investment Mgmt Fees
$737,029
SCHRODER INVESTMENT MGMT NA INC8 years
Service code 51 · EIN 13-4064414
Investment Mgmt Fees
$696,487
SCOUT INVESTMENTS INC2 years
Service code 51 · EIN 43-1925734
Investment Mgmt Fees
$578,084
JP MORGAN CHASE BANK4 years
Service code 51 · EIN 13-4994650
Investment Mgmt Fees
$373,678
FACTSET RESEARCH SYSTEMS INC5 years
Service code 15
45 GLOVER AVENUE · NORWALK, CT 06850
Recordkeeping
$299,689
VIRTUS PARTNERS INC3 years
Service code 51 · EIN 95-4191764
Investment Mgmt Fees
$253,586
CLEARWATER ANALYTICS10+ years
Service code 15
777 W MAIN ST · BOISE, ID 83702
Recordkeeping
$251,597
DELOITTE & TOUCHE LLP1 year
Service code 10 · EIN 13-3891517
Accounting
$238,214

Enrolled actuary

1 attachment
SB

CORLAN FAWCETT

DESERET MUTUAL BENEFIT ADMIN.
Enrollment #2308082
150 SOCIAL HALL AVENUE, SUITE 170
P.O. BOX 45530
SALT LAKE CITY, UT 841450530
Signed 2025-09-10

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

3 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • 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
$22.2M
$2265 / participant
  • Recordkeeping$252K1.1%
  • Trustee / custodial$283K1.3%
  • Investment mgmt$18M80.2%
  • Legal$99K0.4%
  • Other / not subdivided$4M17.0%
% of EOY assets
0.313%
all-in expense ratio
Categories reported
4 / 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
$201,020
Opinion code
Unqualified