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Retirement plan

GCIU - EMPLOYER RETIREMENT BENEFIT PLAN

BOARD OF TRUSTEES GCIU-EMPLOYER RETIREMENT BENEFIT PLANEIN 91-6024903Plan #001PY 2020
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2323 EASTLAKE AVENUE EAST - SEATTLE, WA 981023963206-726-3244
Prospect flagsHigh retiree %Low returns

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
JIM JANIGA
Signed 10/13/2021
(206) 726-3244
Plan administrator signer
STEPHEN SULLIVAN
Signed 10/07/2021
How to read this page

Summary metrics

Total assets (EOY)
$1049M
-0.2% from 2016
Total participants
41,763
+2.2% from 2016
Average account balance
$0
No prior year
Annual return
5.06%
-5.49 pp from 2016

Benchmarks

See 78 peers
Peer group
Industry32 - Manufacturing
Plan typeDefined benefit
Participants1,000-4,999
Cohort78 peers
Snapshot2020
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$27,155
median $8,011
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
5.06%
median 13.03%
Overall peer rank
27th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.76B
Average account balance
Total assets / participants with a balance (line 6g)
$48K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
35,979
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
$36.70M
Contributions per participant
Average employer and participant contribution per enrolled participant
$32K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+121.91%
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 26 by compensation
ProviderService typeCompensation
NORTHWEST ADMINISTRATORS3 years
Service code 13 ยท EIN 91-0680697
Contract Administrator
$1,821,902
KRAW LAW GROUP2 years
Service code 29 ยท EIN 32-0465891
Legal
$873,935
INTECH INVESTMENT MANAGEMENT, LLC6+ years
Service code 28 ยท EIN 01-0614895
Investment Management
$528,994
INVESCO TRUST COMPANY5 years
Service code 28 ยท EIN 46-3793325
Investment Management
$474,125
WELLINGTON MANAGEMENT COMPANY LLP1 year
Service code 28 ยท EIN 30-0835489
Investment Management
$430,777
ALAN D. BILLER & ASSOCIATES, INC.6+ years
Service code 27 ยท EIN 94-2854958
Advisory (Plan)
$352,662
JP MORGAN INVESTMENT MGMT INC6+ years
Service code 28 ยท EIN 13-3200244
Investment Management
$338,040
LINDQUIST LLP6+ years
Service code 10 ยท EIN 52-2385296
Accounting
$252,310
MILLIMAN, INC.6+ years
Service code 11 ยท EIN 91-0675641
Actuarial
$175,819
LOOMIS, SAYLES & COMPANY LP6+ years
Service code 28 ยท EIN 04-3200030
Investment Management
$175,203

Enrolled actuary

1 attachment
MB

REX E. BARKER

MILLIMAN, INC.
Enrollment #2006932
1301 FIFTH AVENUE, SUITE 3800
SEATTLE, WA 981012605
(206) 624-7940
Signed 2021-10-06

Plan features & details

Pension benefit codes1B
Plan features
  • 1B
    Benefits are primarily flat dollar
    Benefits are primarily a flat dollar amount (including a dollar amount per year of service).

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II
Admin total
$8.9M
$5213 / participant
  • Investment mgmt$4M45.1%
  • Contract admin$2M19.3%
  • Other / not subdivided$3M35.6%
% of EOY assets
0.853%
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
LINDQUIST LLP
Auditor EIN
522385296
Audit fees
(not subdivided)
Opinion code
Unqualified