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Retirement plan

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

BOARD OF TRUSTEES, LOCALS 302 & 612 OF THE IUOEdba EMPLOYERS CONST. IND RETIREEIN 91-6028571Plan #001PY 2021
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PO BOX 34203 - SEATTLE, WA 98124206-441-7574
Prospect flagsHigh retiree %Low participation

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(206) 441-7574
Plan administrator signer
MILLER KAPLAN ARASE LLP
Signed 10/18/2022
How to read this page

Summary metrics

Total assets (EOY)
$3154.9M
-3.8% from 2016
Total participants
19,761
+0.8% from 2016
Average account balance
$0
No prior year
Annual return
13.76%
-10.91 pp from 2016

Benchmarks

See 183 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants5,000-9,999
Cohort183 peers
Snapshot2021
Participant deferral / active EE
$0
median $33
Employer contribution / active EE
$22,564
median $6,339
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
13.76%
median 12.34%
Overall peer rank
40th 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 23 by compensation
ProviderService typeCompensation
WASHINGTON CAPITAL MANAGEMENT, INC.7+ years
Service code 28 ยท EIN 91-1042342
Investment Management
$3,159,744
WELFARE & PENSION ADMIN SERVICE INC7+ years
Service code 10 ยท EIN 91-1363171
Accounting
$1,679,918
STERLING CAPITAL MGMT LLC7+ years
Service code 51 ยท EIN 42-1658828
Investment Mgmt Fees
$609,777
PARAMETRIC PORTFOLIO ASSOCIATES LLC7+ years
Service code 51 ยท EIN 20-0292745
Investment Mgmt Fees
$472,083
BOSTON TRUST & INV. MGMT. CO1 year
Service code 19 ยท EIN 04-2273811
Securities Custodian
$467,696
SEGAL ADVISORS, INC1 year
Service code 27 ยท EIN 13-2646110
Advisory (Plan)
$410,000
FRANKLIN TEMPLETON INV. COUNSEL LLC2 years
Service code 28 ยท EIN 94-3385113
Investment Management
$384,771
WESTERN ASSET MANAGEMENT CO1 year
Service code 51 ยท EIN 95-2705767
Investment Mgmt Fees
$287,305
LOOMIS, SAYLES & COMPANY, LP7+ years
Service code 51 ยท EIN 20-8080381
Investment Mgmt Fees
$284,310
PACIFIC INV. MGMT CO. LLC7+ years
Service code 51 ยท EIN 33-0629048
Investment Mgmt Fees
$272,150

Enrolled actuary

1 attachment
MB

BRIAN J HARPER, EA, MAAA

RAEL & LETSON
Enrollment #2006435
601 UNION STREET, SUITE 2415,
SEATTLE, WA 98101
(206) 456-3340
Signed 2022-10-14

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 participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • 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
$11.7M
$1444 / participant
  • Investment mgmt$9M73.2%
  • Contract admin$2M13.9%
  • Other / not subdivided$2M12.8%
% of EOY assets
0.370%
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
MILLER KAPLAN ARASE LLP
Auditor EIN
952036255
Audit fees
(not subdivided)
Opinion code
Unqualified