Retirement plan

RETIREMENT PLAN FOR SALARIED EMPLOYEES OF PUERTO RICO TELEPHONE COMPANY

Name: PUERTO RICO TELEPHONE COMPANY - RETIREMENT PLAN FOR SALARIED EMPLOYEES OF PUERTO RICO TELEPHONE COMPANY (2016) Form 5500
Creator: PUERTO RICO TELEPHONE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RETIREMENT PLAN FOR SALARIED EMPLOYEES OF PUERTO RICO TELEPHONE COMPANY, PUERTO RICO TELEPHONE COMPANY

PUERTO RICO TELEPHONE COMPANYEIN 66-0564397Plan #001PY 2016

GPO BOX 360998, 1513 ROOSEVELT AVENUE, 10TH FLOOR - SAN JUAN, PR 009360998787-706-6360

Other plans on this EIN

2 filings

#002Retirement-$396.6M assets #004Retirement-$28.9M assets

Prospect flagsHigh retiree %Low participationLow participant contribution

How to read this page

Total assets (EOY)

$657.9M

-7.8% from 2016

Total participants

5,284

+18.5% from 2016

Average account balance

No prior year

Annual return

7.35%

-13.43 pp from 2016

Benchmarks

See 1,190 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants1,000-4,999

Cohort1,190 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$74.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-99.66%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

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Service providers

Top 9 by compensation

Provider	Service type	Compensation
ALLIANCE PENSION CONSULTANTS, LLC2+ years Filed as: ALLIANCE B. Service code 51 · EIN 13-4064930	Investment Mgmt Fees	$496,140
INDEPENDENT FINANCIAL PARTNERS2+ years Filed as: EPOCH Service code 28 · EIN 20-1003862	Investment Management	$423,579
BLUEBAY ASSET MANAGEMENT LLP2+ years Service code 28 · EIN 98-1028247	Investment Management	$374,244
MERCER2+ years Service code 11 · EIN 61-0736136	Actuarial	$365,081
KBI GLOBAL INVESTORS2+ years Filed as: KBI Service code 28 · EIN 98-0460079	Investment Management	$332,771
PIMCO FUNDS2+ years Filed as: PIMCO Service code 28 · EIN 33-0629048	Investment Management	$329,489
BPPR - POPULAR FIDUCIARY SERVICES2+ years Filed as: BPPR -TRUST Service code 21 · EIN 66-0561870	Bank Trustee	$267,960
MORGAN STANLEY SMITH BARNEY2+ years Filed as: JP MORGAN Service code 21 · EIN 13-4994650	Bank Trustee	$235,091
BDO USA, LLP2+ years Filed as: BDO Service code 10 · EIN 66-0578857	Accounting	$6,902

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1A1C3J

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).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$6.3M

$3727 / participant

Investment mgmt$2M33.8%
Other / not subdivided$4M66.2%

% of EOY assets

0.952%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BDO PUERTO RICO PSC
Auditor EIN: 660578857
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$381,942,733-100.0%

$18,392,177-100.0%

$381,942,733-100.0%

Participation rate

0.0%

0.0%0pp

37.5%-37.5pp

0.0%0pp

Annual return

7.35%

9.19%-1.8pp

3.99%+3.4pp

9.19%-1.8pp

Employer contribution / active EE

$12,608-100.0%

$38,279-100.0%

$12,608-100.0%

Participant deferral / active EE

$46,858

$1,615+2801.2%

$386+12046.2%

$1,615+2801.2%

Admin fee / account holder

$2,655,710-100.0%

$140,034-100.0%

$2,655,710-100.0%

Provider

Service type

Compensation

ALLIANCE PENSION CONSULTANTS, LLC2+ years

Filed as: ALLIANCE B.

Service code 51 · EIN 13-4064930

Investment Mgmt Fees

$496,140

INDEPENDENT FINANCIAL PARTNERS2+ years

Filed as: EPOCH

Service code 28 · EIN 20-1003862

Investment Management

$423,579

BLUEBAY ASSET MANAGEMENT LLP2+ years

Service code 28 · EIN 98-1028247

Investment Management

$374,244

MERCER2+ years

Service code 11 · EIN 61-0736136

Actuarial

$365,081

KBI GLOBAL INVESTORS2+ years

Filed as: KBI

Service code 28 · EIN 98-0460079

Investment Management

$332,771

PIMCO FUNDS2+ years

Filed as: PIMCO

Service code 28 · EIN 33-0629048

Investment Management

$329,489

Filed as: BPPR -TRUST

Service code 21 · EIN 66-0561870

Bank Trustee

$267,960

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: JP MORGAN

Service code 21 · EIN 13-4994650

Bank Trustee

$235,091

BDO USA, LLP2+ years

Filed as: BDO

Service code 10 · EIN 66-0578857

Accounting

$6,902

RETIREMENT PLAN FOR SALARIED EMPLOYEES OF PUERTO RICO TELEPHONE COMPANY

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RETIREMENT PLAN FOR SALARIED EMPLOYEES OF PUERTO RICO TELEPHONE COMPANY

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion