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Retirement plan

LOCALS 302 & 612 OF THE IUOE -EMPLOYERS CONSTRUCTION INDUSTRY RETIREMENT PLAN

TRUSTEES OF LOCALS 302 & 612 OF THE IUOE -EMPLOYERS CONST. IND. RETIREEIN 91-6028571Plan #001PY 2017
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PO BOX 34203 - SEATTLE, WA 981241203206-441-7574
Prospect flagsHigh retiree %Low returns

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
DAREN KONOPASKI
Signed 10/11/2018
(206) 441-7574
Plan administrator signer
ANDREW LEDBETTER
Signed 10/11/2018
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Summary metrics

Total assets (EOY)
$2462.3M
-3.8% from 2016
Total participants
18,814
+0.8% from 2016
Average account balance
$0
No prior year
Annual return
6.93%
-10.91 pp from 2016

Benchmarks

See 206 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants5,000-9,999
Cohort206 peers
Snapshot2017
Participant deferral / active EE
$0
median $71
Employer contribution / active EE
$17,142
median $8,196
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
6.93%
median 13.38%
Overall peer rank
34th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$3.33B
Average account balance
Total assets / participants with a balance (line 6g)
$170K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
11,604
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
$225.42M
Contributions per participant
Average employer and participant contribution per enrolled participant
$28K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+9.14%
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 38 by compensation
ProviderService typeCompensation
WASHINGTON CAPITAL MANAGEMENT, INC.3+ years
Service code 28 ยท EIN 91-1042342
Investment Management
$3,008,632
WELFARE & PENSION ADMIN SERVICE INC3+ years
Service code 12 ยท EIN 91-1363171
Direct payment from the plan; Contrac...
$1,435,015
LSV ASSET MANAGEMENT3+ years
Service code 28 ยท EIN 23-2772200
Investment Management
$1,082,955
HAMILTON LANE ADVISORS, LLC3+ years
Service code 28 ยท EIN 23-2962336
Investment Management
$754,858
STERLING CAPITAL MGMT LLC3+ years
Service code 28 ยท EIN 42-1658828
Investment Management
$660,379
WESTERN ASSET MANAGEMENT CO.3+ years
Service code 28 ยท EIN 95-2705767
Investment Management
$379,989
PACIFIC INV. MGMT CO. LLC3+ years
Service code 28 ยท EIN 33-0629048
Investment Management
$305,018
BOSTON TRUST & INV. MGMT. CO.3+ years
Service code 19 ยท EIN 04-2273811
Securities Custodian
$266,502
PARAMETRIC PORTFOLIO ASSOCIATES LLC3+ years
Service code 28 ยท EIN 20-0292745
Investment Management
$214,455
RAINIER INVESTMENT MGMT LLC3+ years
Service code 28 ยท EIN 46-4242069
Investment Management
$211,142

Enrolled actuary

1 attachment
MB

BRUCE CABLE, ASA, EA, MAAA

RAEL & LETSON
Enrollment #1704449
999 THIRD AVENUE, SUITE 1530
SEATTLE, WA 98104
(206) 445-1850
Signed 2018-10-03

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
$14.0M
$1894 / participant
  • Investment mgmt$11M79.2%
  • Contract admin$1M10.2%
  • Other / not subdivided$1M10.6%
% of EOY assets
0.569%
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