Retirement plan

PUERTO RICO TELEPHONE COMPANY PENSION PLAN FOR HOURLY EMPLOYEES

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

PUERTO RICO TELEPHONE COMPANYEIN 66-0564397Plan #002PY 2016

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

Other plans on this EIN

2 filings

#001Retirement-$657.9M assets #004Retirement-$28.9M assets

Prospect flagsHigh retiree %Low participant contribution

How to read this page

Total assets (EOY)

$396.6M

-7.2% from 2016

Total participants

4,791

+14.2% from 2016

Average account balance

No prior year

Annual return

7.49%

-16.81 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

$43.56M

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

-99.41%

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 8 by compensation

Provider	Service type	Compensation
MERCER2+ years Service code 11 · EIN 61-0736136	Actuarial	$303,401
ALLIANCE PENSION CONSULTANTS, LLC2+ years Filed as: ALLIANCE B. Service code 51 · EIN 13-4064930	Investment Mgmt Fees	$296,319
INDEPENDENT FINANCIAL PARTNERS2+ years Filed as: EPOCH Service code 28 · EIN 20-1003862	Investment Management	$252,982
BLUEBAY ASSET MANAGEMENT LLP2+ years Service code 28 · EIN 98-1028247	Investment Management	$223,517
KBI GLOBAL INVESTORS2+ years Filed as: KBI Service code 28 · EIN 98-0460079	Investment Management	$198,747
PIMCO FUNDS2+ years Filed as: PIMCO Service code 28 · EIN 33-0629048	Investment Management	$196,787
BPPR - POPULAR FIDUCIARY SERVICES2+ years Filed as: BPPR - TRUST Service code 21 · EIN 66-0561870	Bank Trustee	$160,039
MORGAN STANLEY SMITH BARNEY2+ years Filed as: JP MORGAN Service code 21 · EIN 13-4994650	Bank Trustee	$140,408

Enrolled actuary

1 attachment

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

Plan features & details

Pension benefit codes1B1C3J

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).
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

2 tripped

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

$4.9M

$4116 / participant

Investment mgmt$1M25.7%
Other / not subdivided$4M74.3%

% of EOY assets

1.242%

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

7.49%

9.19%-1.7pp

3.99%+3.5pp

9.19%-1.7pp

Employer contribution / active EE

$12,608-100.0%

$38,279-100.0%

$12,608-100.0%

Participant deferral / active EE

$34,740

$1,615+2051.0%

$386+8905.1%

$1,615+2051.0%

Admin fee / account holder

$2,655,710-100.0%

$140,034-100.0%

$2,655,710-100.0%

Provider

Service type

Compensation

MERCER2+ years

Service code 11 · EIN 61-0736136

Actuarial

$303,401

ALLIANCE PENSION CONSULTANTS, LLC2+ years

Filed as: ALLIANCE B.

Service code 51 · EIN 13-4064930

Investment Mgmt Fees

$296,319

INDEPENDENT FINANCIAL PARTNERS2+ years

Filed as: EPOCH

Service code 28 · EIN 20-1003862

Investment Management

$252,982

BLUEBAY ASSET MANAGEMENT LLP2+ years

Service code 28 · EIN 98-1028247

Investment Management

$223,517

KBI GLOBAL INVESTORS2+ years

Filed as: KBI

Service code 28 · EIN 98-0460079

Investment Management

$198,747

PIMCO FUNDS2+ years

Filed as: PIMCO

Service code 28 · EIN 33-0629048

Investment Management

$196,787

Filed as: BPPR - TRUST

Service code 21 · EIN 66-0561870

Bank Trustee

$160,039

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: JP MORGAN

Service code 21 · EIN 13-4994650

Bank Trustee

$140,408

PUERTO RICO TELEPHONE COMPANY PENSION PLAN FOR HOURLY EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PUERTO RICO TELEPHONE COMPANY PENSION PLAN FOR HOURLY EMPLOYEES

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