Retirement plan
SOUND RETIREMENT TRUST
BOARD OF TRUSTEES, SOUND RETIREMENT TRUSTEIN 91-6069306Plan #001PY 2016
201 QUEEN ANNE AVE. N., SUITE 100 - SEATTLE, WA 981094824206-282-4100
Prospect flagsLow returnsLow employer contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
SCOTT KLITZKE POWERS
Signed 07/14/2017
Summary metrics
Total assets (EOY)
$2451.9M
-3.9% from 2017
Total participants
152,930
-4.9% from 2017
Average account balance
$0
No prior year
Annual return
-4.10%
-11.79 pp from 2017
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort244 peers
Snapshot2016
0
Participant deferral / active EE
$0
median $34
3
Employer contribution / active EE
$654
median $6,216
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $40,289
0
Admin fee / account holder
$0
median $312
1
Annual return
-4.10%
median 6.89%
Overall peer rank
2of 100
2nd percentileavg across 6 metrics
Analytics
2016 - 2024
Total assets (EOY)
Plan-year ending balance
$2.60B
Average account balance
Total assets / participants with a balance (line 6g)
$22K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
41,113
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
$78.99M
Contributions per participant
Average employer and participant contribution per enrolled participant
$1K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.41%
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 39 by compensation
| Provider | Service type | Compensation |
|---|---|---|
ZENITH AMERICAN SOLUTIONS INC.1+ years Service code 10 · EIN 52-1590516 | Accounting | $2,075,147 |
CAMDEN ASSET MANAGEMENT LP1+ years Service code 28 · EIN 95-4319164 | Investment Management | $1,672,651 |
HAMILTON LANE ADVISORS, LLC1+ years Service code 28 · EIN 23-2962336 | Investment Management | $1,511,300 |
Service code 27 · EIN 13-3200244 | Advisory (Plan) | $659,232 |
Service code 52 · EIN 45-2341035 | Indirect Investment Fees | $636,668 |
LOOMIS SAYLES & COMPANY, LP1+ years Service code 28 · EIN 04-3200030 | Investment Management | $615,258 |
PANAGORA ASSET MANAGEMENT1+ years Service code 28 · EIN 04-3063840 | Investment Management | $600,294 |
VERUS ADVISORY, INC.1+ years Service code 17 · EIN 91-1320111 | Pension Consulting | $558,000 |
CHEIRON, INC.1+ years Service code 11 · EIN 13-4215617 | Actuarial | $534,194 |
RAEL & LETSON, INC.1+ years Service code 11 · EIN 94-1701048 | Actuarial | $517,871 |
Enrolled actuary
1 attachment
MB
BRUCE CABLE,FIONA E. LISTON
RAEL & LETSON/CHEIRON, INC.
Enrollment #1704449
999 THIRD AVE., SUITE 1530
SEATTLE, WA 98104
(206) 445-1850
Signed 2017-06-21
Reportable transactions (Schedule G)
4 rows
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 1 Loan in default | ICG FDG LLC | — | 161 INVERNESS DRIVE WEST ENGLEWOOD, CO 80112 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS | — | 745 7TH AVENNUE NEW YORK, NY 10019 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS | — | 745 7TH AVENNUE NEW YORK, NY 10019 | — |
| Part 1 Loan in default | TRIBUNE NORTH CO | — | 435 NORHT MICHIGAN AVE CHICAGO, IL 60611 | — |
Plan features & details
Pension benefit codes1A
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
Opportunity flags
2 tripped
- OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$19.7M
$209 / participant
- Investment mgmt$13M65.2%
- Contract admin$2M9.9%
- Other / not subdivided$5M25.0%
% of EOY assets
0.805%
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