PlanOptica
Retirement plan

SOUND RETIREMENT TRUST

BOARD OF TRUSTEES, SOUND RETIREMENT TRUSTEIN 91-6069306Plan #001PY 2021
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11724 NE 195TH ST STE 300 - BOTHELL, WA 98011206-282-4100
Prospect flagsLow participationLow employer contribution

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(206) 282-4100
Plan administrator signer
MILLER KAPLAN ARASE LLP
Signed 09/10/2022
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Summary metrics

Total assets (EOY)
$2983.8M
-3.9% from 2017
Total participants
160,174
-4.9% from 2017
Average account balance
$0
No prior year
Annual return
15.03%
-11.79 pp from 2017

Benchmarks

See 206 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort206 peers
Snapshot2021
Participant deferral / active EE
$0
median $81
Employer contribution / active EE
$910
median $6,074
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
15.03%
median 11.59%
Overall peer rank
26th 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 29 by compensation
ProviderService typeCompensation
ZENITH AMERICAN SOLUTIONS1 year
Service code 13 · EIN 52-1590516
Contract Administrator
$2,096,487
HAMILTON LANE ADVISORS, LLC6+ years
Service code 50 · EIN 23-2962336
Direct Payment
$1,611,320
LOOMIS SAYLES & COMPANY, LP6+ years
Service code 50 · EIN 04-3200030
Direct Payment
$1,328,158
PIMCO3 years
Service code 50 · EIN 33-0629048
Direct Payment
$1,280,809
RAEL & LETSON1 year
Service code 11 · EIN 94-1701048
Actuarial
$670,925
CHEIRON, INC1 year
Service code 11 · EIN 13-4215617
Actuarial
$646,886
VERUS ADVISORY, INC1 year
Service code 17 · EIN 91-1320111
Pension Consulting
$558,000
PANAGORA ASSET MANAGEMENT, INC.1 year
Service code 50 · EIN 04-3063840
Direct Payment
$443,989
IFM INVESTORS PTY LTD1 year
Service code 28
114 W 47TH ST 26TH FL · NEW YORK, NY 10036
Investment Management
$324,788
STEPSTONE GROUP REAL ESTATE HOLDING1 year
Service code 27 · EIN 38-3930662
Advisory (Plan)
$239,198

Enrolled actuary

1 attachment
MB

JOSHUA A. C. DAVIS PAUL L. GRAF

CHEIRON INC./RAEL & LETSON
Enrollment #2007397
101 SW MAIN STREET
SUITE 1602
PORTLAND, OR 97204
(877) 243-4766
Signed 2022-07-12

Reportable transactions (Schedule G)

3 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.

CategoryCounterpartyRelationship / TermsAddressAmount
Part 1
Loan in default
ICG FDG LLC—
161 INVERNESS DR W
ENGLEWOOD, CO 80112
—
Part 1
Loan in default
LEHMAN BROTHERS HOLDINGS—
745 7TH AVE
NEW YORK, NY 10019
—
Part 1
Loan in default
LEHMAN BROTHERS HOLDINGS—
745 7TH AVE
NEW YORK, NY 10019
—

Plan features & details

Pension benefit codes1A
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).

Opportunity flags

2 tripped
  • OpportunityLow participation

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

  • OpportunityLow employer contribution

    Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II
Admin total
$22.6M
$202 / participant
  • Investment mgmt$15M64.3%
  • Contract admin$2M9.3%
  • Other / not subdivided$6M26.5%
% of EOY assets
0.758%
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