Retirement plan
SOUND RETIREMENT TRUST
BOARD OF TRUSTEES, SOUND RETIREMENT TRUSTEIN 91-6069306Plan #001PY 2023
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 07/15/2024
Summary metrics
Total assets (EOY)
$2601.5M
-3.9% from 2017
Total participants
143,730
-4.9% from 2017
Average account balance
$0
No prior year
Annual return
6.86%
-11.79 pp from 2017
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort191 peers
Snapshot2023
0
Participant deferral / active EE
$0
median $12
7
Employer contribution / active EE
$808
median $5,926
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
0
Admin fee / account holder
$0
34
Annual return
6.86%
median 8.27%
Overall peer rank
14of 100
14th 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 32 by compensation
| Provider | Service type | Compensation |
|---|---|---|
HAMILTON LANE ADVISORS, LLC8+ years Service code 50 · EIN 23-2962336 | Direct Payment | $1,724,437 |
LOOMIS SAYLES & COMPANY, LP8+ years Service code 50 · EIN 04-3200030 | Direct Payment | $1,243,345 |
ZENITH AMERICAN SOLUTIONS3 years Service code 13 · EIN 52-1590516 | Contract Administrator | $1,117,560 |
PIMCO5 years Service code 50 · EIN 33-0629048 | Direct Payment | $977,165 |
VERUS ADVISORY, INC3 years Service code 17 · EIN 91-1320111 | Pension Consulting | $582,500 |
Service code 27 · EIN 38-3930662 | Advisory (Plan) | $446,277 |
CHEIRON, INC3 years Service code 11 · EIN 13-4215617 | Actuarial | $368,452 |
RAEL & LETSON3 years Service code 11 · EIN 94-1701048 | Actuarial | $291,437 |
SEYFARTH SHAW LLP8+ years Service code 29 · EIN 36-2152202 | Legal | $256,578 |
RYAN ALM ADVISERS, LLC7 years Service code 27 · EIN 20-2865003 | Advisory (Plan) | $201,428 |
Enrolled actuary
1 attachment
MB
JOSHUA A. C. DAVIS PAUL L. GRAF
CHEIRON INC. / RAEL & LETSON
Enrollment #2307397
101 SW MAIN STREET
SUITE 1602,
PORTLAND, OR 97204
(877) 243-4766
Signed 2024-07-09
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
$22.2M
$237 / participant
- Investment mgmt$15M65.7%
- Contract admin$1M5.0%
- Other / not subdivided$6M29.2%
% of EOY assets
0.853%
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