Retirement plan
SOUND RETIREMENT TRUST
BOARD OF TRUSTEES, SOUND RETIREMENT TRUSTEIN 91-6069306Plan #001PY 2022
11724 NE 195TH ST STE 300 - BOTHELL, WA 98011206-282-4100
Prospect flagsLow participationLow employer contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MILLER KAPLAN ARASE LLP
Signed 07/17/2023
Summary metrics
Total assets (EOY)
$2512M
-3.9% from 2017
Total participants
155,238
-4.9% from 2017
Average account balance
$0
No prior year
Annual return
-12.98%
-11.79 pp from 2017
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort204 peers
Snapshot2022
0
Participant deferral / active EE
$0
median $38
8
Employer contribution / active EE
$667
median $6,003
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $1,469,698
0
Admin fee / account holder
$0
median $19,323
52
Annual return
-12.98%
median -13.75%
Overall peer rank
20of 100
20th 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 26 by compensation
| Provider | Service type | Compensation |
|---|---|---|
HAMILTON LANE ADVISORS, LLC7+ years Service code 50 · EIN 23-2962336 | Direct Payment | $4,708,156 |
ZENITH AMERICAN SOLUTIONS2 years Service code 13 · EIN 52-1590516 | Contract Administrator | $1,317,471 |
LOOMIS SAYLES & COMPANY, LP7+ years Service code 50 · EIN 04-3200030 | Direct Payment | $1,273,910 |
PIMCO4 years Service code 50 · EIN 33-0629048 | Direct Payment | $1,027,701 |
VERUS ADVISORY, INC2 years Service code 17 · EIN 91-1320111 | Pension Consulting | $558,000 |
Service code 50 · EIN 04-3063840 | Direct Payment | $500,307 |
CHEIRON, INC2 years Service code 11 · EIN 13-4215617 | Actuarial | $375,833 |
RAEL & LETSON2 years Service code 11 · EIN 94-1701048 | Actuarial | $303,070 |
Service code 27 · EIN 38-3930662 | Advisory (Plan) | $300,778 |
RYAN ALM ADVISERS, LLC6 years Service code 27 · EIN 20-2865003 | Advisory (Plan) | $212,317 |
Enrolled actuary
1 attachment
MB
PAUL L. GRAF, JOSHUA A. C. DAVIS
RAEL & LETSON/CHEIRON INC.
Enrollment #2007397
601 UNION STREET
SUITE 2415
SEATTLE, WA 98101
(206) 445-1852
Signed 2023-06-14
Reportable transactions (Schedule G)
2 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 | 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
- 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 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
$23.6M
$224 / participant
- Investment mgmt$18M77.0%
- Contract admin$1M5.6%
- Other / not subdivided$4M17.4%
% of EOY assets
0.941%
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