Checklist Item #38 Resubmitted Application for Approval of a 

Suspension of Benefits Under MPRA

Iron Workers Local 17 Pension Fund EIN: 51-0161467

Plan No.: 001

Does the application 

include the required 

excerpts from the most 

recently filed Form 

5500. 

See section 7.08.

The following information is being provided for the 

application on behalf of the Iron Workers Local 17 

Pension Fund:

• 2014 Form 5500 pages 1&2 (pages

IW17PF_894 - 895)

• 2014 Form 5500 Schedule MB with

attachments (pages IW17PF_896 –

IW17PF_940);and

• 2014 Form 5500 Schedule R (pages

IW17PF_941 – IW17PF_943). 

IW17PF_893
2014

Annual Return/Report of Employee Benefit Plan

Part I Annual Report Identification Information

A

B

C

D

Part II Basic Plan Information—enter all requested information

1a 1b

1c

2a 2b

2c

2d

This form is required to be filed for employee benefit plans under sections 104

and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and

sections 6047(e), 6047(b), and 6058(a) of the Internal Revenue Code (the Code).

u Complete all entries in accordance with

This Form is Open to Public

the instructions to the Form 5500.

Inspection

For calendar plan year 2014 or fiscal plan year beginning and ending

Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established.

Signature of plan administrator

Preparer's name (including firm name, if applicable) and address; include room or suite number. (optional)

Form 5500

This return/report is for: a multiemployer plan; a multiple-employer plan; or

a single-employer plan: a DFE (specify)

This return/report is: the first return/report; the final return/report;

an amended return/report; a short plan year return/report (less than 12 months).

If the plan is a collectively-bargained plan, check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Check box if filing under:

Name of plan Three-digit plan

number (PN) u

Effective date of plan

Plan sponsor's name and address; including room or suite number (employer, if for a single-employer plan) Employer Identification

Sponsor's telephone

Business code (see

Date Enter name of individual signing as plan administrator

OMB Nos. 1210 - 0110

1210 - 0089

Department of the Treasury

Internal Revenue Service

Department of Labor

Employee Benefits Security

Administration

Pension Benefit Guaranty Corporation

Under penalties of perjury and other penalties set forth in the instructions, I declare that I have examined this return/report, including accompanying schedules, 

statements and attachments, as well as the electronic version of this return/report, and to the best of my knowledge and belief, it is true, correct, and complete.

Form 5500 (2014)

u

SIGN

HERE

Signature of employer/plan sponsor

Form 5558;

special extension (enter description)

automatic extension; the DFVC program;

Number (EIN)

number

instructions)

HERE

SIGN

Date Enter name of individual signing as employer or plan sponsor

Date Enter name of individual signing as DFE

SIGN

HERE

Signature of DFE

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500.

Preparer's telephone number

(optional)

05/01/2014 04/30/2015

X

X

X

IRON WORKERS LOCAL 17 PENSION FUND 001

05/01/1965

BOARD OF TRUSTEES OF IRON WORKERS

LOCAL 17 PENSION FUND

P.O. BOX 6327

CLEVELAND OH 44101-1327

51-0161467

216-241-1086

237990

TIM MCCARTHY

GARY KNOPF

IW17PF_894
3a 3b

3c

4 4b

a 4c

5

6

a(1) 6a(1)

b 6b

c 6c

d 6d

e 6e

f 6f

g

6g

h

6h

8a

9a 9b

(1) (1)

(2) (2)

(3) (3)

(4) (4)

Form 5500 (2014) Page 2

Plan administrator's name and address Administrator's EIN

Administrator's telephone

If the name and/or EIN of the plan sponsor has changed since the last return/report filed for this plan, enter the name, EIN

EIN and the plan number from the last return/report:

Sponsor's name PN

Total number of participants at the beginning of the plan year

Number of participants as of the end of the plan year unless otherwise stated (welfare plans complete only lines 6a(1),

Total number of active participants at the beginning of the plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Retired or separated participants receiving benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other retired or separated participants entitled to future benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtotal. Add lines 6a(2), 6b, and 6c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deceased participants whose beneficiaries are receiving or are entitled to receive benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total. Add lines 6d and 6e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of participants with account balances as of the end of the plan year (only defined contribution plans

complete this item)

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of participants that terminated employment during the plan year with accrued benefits that were

less than 100% vested . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Plan funding arrangement (check all that apply) Plan benefit arrangement (check all that apply)

Insurance Insurance

Code section 412(e)(3) insurance contracts Code section 412(e)(3) insurance contracts

Trust Trust

General assets of the sponsor General assets of the sponsor

number

5

7 Enter the total number of employers obligated to contr bute to the plan (only multiemployer plans complete this item)

If the plan provides pension benefits, enter the applicable pension feature codes from the List of Plan Characteristic Codes in the instructions:

b If the plan provides welfare benefits, enter the applicable welfare feature codes from the List of Plan Characteristic Codes in the instructions:

b

(Single-Employer Defined Benefit Plan Actuarial

(Financial Transaction Schedules)

(Multiemployer Defined Benefit Plan and Certain Money

(DFE/Participating Plan Information)

(Service Provider Information)

(Insurance Information)

(Financial Information - Small Plan)

(Retirement Plan Information) (Financial Information)

Check all applicable boxes in 10a and 10b to indicate which schedules are attached, and, where indicated, enter the number attached. (See instructions)

SB

(6) G

MB

(3) (5) D

(4) C

(3) A

(2) (2) I

(1) R (1) H

a Pension Schedules General Schedules

10

Purchase Plan Actuarial Information) - signed by the plan

actuary

Information) - signed by the plan actuary

7

Same as Plan Sponsor

6a(2), 6b, 6c, and 6d).

a(2) Total number of active participants at the end of the plan year 6a(2)

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BOARD OF TRUSTEES OF IRON WORKERS 51-0161467

BOARD OF TRUSTEES OF IRON WORKERS

LOCAL 17 PENSION FUND

P.O. BOX 6327

CLEVELAND OH 44101-1327

51-0161467

216-241-1086

2050

640

632

876

302

1810

232

2042

112

1B

X X

X

X

X

X

X

IW17PF_895
SIGN

HERE

Pension Bene it Guaranty Corporation

Employee Bene its Security Administration

Department of Labor

Internal Revenue Service

OMB No. 1210-0110

(1)

Enter the valuation date:

Plan sponsor's name as shown on line 2a of Form 5500 or 5500-SF

plan number (PN)

Name of plan Three-digit

For calendar plan year 2014 or fiscal plan year beginning and ending

Internal Revenue Code (the Code).

Retirement Income Security Act of 1974 (ERISA) and section 6059 of the

This schedule is required to be filed under section 104 of the Employee

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500 or Form 5500-SF.

1a

C D Employer Identification Number (EIN)

A B

u File as an attachment to Form 5500 or 5500-SF.

Inspection

This Form is Open to Public

(Form 5500)

SCHEDULE MB Multiemployer Defined Benefit Plan and Certain

2014

Money Purchase Plan Actuarial Information

Round off amounts to nearest dollar.

Caution: A penalty of $1,000 will be assessed for late filing of this report unless reasonable cause is established.

E Type of plan: (1) Multiemployer Defined Benefit (2) Money Purchase (see instructions)

b Assets

Current value of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Actuarial value of assets for funding standard account

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

c

(2) Information for plans using spread gain methods:

Accrued liability for plan using immediate gain methods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(1)

(a)

(b)

(c)

Accrued liability under entry age normal method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Normal cost under entry age normal method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Unfunded liability for methods with bases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accrued liability under unit credit cost method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(3)

d Information on current liabilities of the plan:

Current liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Expected release from "RPA '94" current liability for the plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Expected increase in current liability due to benefits accruing during the plan year

 . . . . . . . . . . . . . . . .

(c)

(b)

(a)

(1) Amount excluded from current liability attr butable to pre-participation service (see instructions)

 . . . . . .

(2) "RPA '94" information:

(3) Expected plan disbursements for the plan year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Statement by Enrolled Actuary

To the best of my knowledge, the information supplied in this schedule and accompanying schedules, statements and attachments, if any, is complete and accurate. Each prescribed assumption was applied in

accordance with applicable law and regulations. In my opinion, each other assumption is reasonable (taking into account the experience of the plan and reasonable expectations) and such other assumptions, in

combination, offer my best estimate of anticipated experience under the plan.

Signature of actuary

Type or print name of actuary

Firm name

Address of the firm

Date

Most recent enrollment number

Telephone number (including area code)

If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule, check the box and see

instructions

Schedule MB (Form 5500) 2014

Department of the Treasury

Month Day Year

1b(1)

1b(2)

1c(1)

1c(2)(a)

1c(2)(b)

1c(2)(c)

1c(3)

1d(1)

1d(2)(a)

1d(2)(b)

1d(2)(c)

1d(3)

05/01/2014 04/30/2015

IRON WORKERS LOCAL 17 PENSION FUND

001

BOARD OF TRUSTEES OF IRON WORKERS 51-0161467

X

05 01 2014

86,864,772

86,864,772

221,801,140

221,801,140

363,251,849

2,249,735

19,435,868

19,810,868

01/25/2016

HENRY WONG, ASA, MAAA, FCA

SEGAL CONSULTING

14-05951

312-984-8500

101 NORTH WACKER DRIVE, SUITE 500

CHICAGO IL 60606-1724

IW17PF_896
BOARD OF TRUSTEES OF IRON WORKERS 

Schedule MB (Form 5500) 2014 

2 Operational information as of beginning of this plan year 

51- 0161467 

Page 2-D 

a Current value of assets (see instructions) ....... ........ ....................... ........ ................ ........ .. 1~ 

b "RPA '94" current liability/participant count breakdown: (1) Number of partidpants 

(1) For retired partidpants and benefidaries receiving payment 1037 ····------------··· (2) For terminated vested participants 302 ·· · · · · · · ·· · · · · · · ·· · · · · · · ·· · · · · · - -- - -- - ---- -· · · 

(3) For active partidpants: 

(a) Non-vested benefits ···· -··-··------------------ ----------------------··-··· (b) Vested benefits ········· -··-··------------------ ----------------------··-··· (c) Total active 632 (4) ····· ·····--- ------------------------ ------- ---------------··-··· Total 1971 

c If the percentage resulting from dividing line 2a by line 2b(4), column (2), is less than 70%, enter such 

percentage . I 2c .. . .. . . . . .. .. .. . . . . .. . . .. . ... . .. . .. .. .. . . . . .. . . .. . .. . .. . ... . .. . . . .. . . . .. . .. . . .. . .. . .. . .. .. .. . . . .. 

3 Contr butions made to the plan for the plan year by employer(s) and employees· 

(a) Date (b) Amount paid by (c) Amount paid by (a) Date (b) Amount paid by 

(MM-DD-YYYY) employer(s) employees (MM-DD-YYYY) employer(s) 

11/ 01/ 2014 12656837 

Totals ~ l 3!bl 12656837 

4 Information on plan status: 

a Enter code to indicate plan's status (see instructions for attachment of supporting evidence of plan's status). If 144ab I 

code is "N," go to line 5 . . . 

b Funded percentage for monitoring plan's status (line 1b(2) divided by line 1c(3)) .. . .. .. . .. . . ... ... .... .. . .. . . 

86 , 864 772 

(2) Current liability 

228 , 859 , 286 

37 , 935 839 

6 066 954 

90 , 389 770 

96 , 456 724 

363 , 251 , 849 

23.91 % 

(c) Amount paid by 

employees 

3(cll 

c 

39.2 % 

c Is the plan making the scheduled progress under any applicable funding improvement or rehabilitation plan? . .. .. . .. . .. . .... . . 1!1 Yes 

d If the plan is in critical status, were any adjustable benefits reduced? .. ... . .... ... .... .. . .. . . ... ... .... .. . .. . D Yes 

e If lined is "Yes," enter the reduction in liability resulting from the reduction in adjustable benefrts, measured as 

of the valuation date . 

f If the rehabilitation plan projects emergence from critical status, enter the plan year in which it is projected to 

emerge. 

4e 

If the rehabilitation plan is based on forestalling possible insolvency, enter the plan year in which insolvency is 4f 

expected and check here . 1!1 

5 Actuarial cost method used as the basis for this plan year's funding standard account computations (check all that apply): 

a - Attained age normal b r- Entry age normal c 1!1 Accrued benefrt (unit credit) 

e - Frozen initial liability f ~ Individual level premium g D Individual aggregate 

i - Reorganization j ~ Other (specify): 

d D Aggregate 

h D Shortfall 

2026 

k If box h is checked, enter period of use of shortfall method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IL.......:S..:..:k_'--l----.------.----

1 Has a change been made in funding method for this plan year? . R Yes 00 No 

m If line I is "Yes," was the change made pursuant to Revenue Procedure 2000-40 or other automatic approval? ~~f""'"-'"'~~__.__.__ _ ..... n__.__N_o_ 

n :~::~~~ ::s~h:~~~i~~ :n: ~~~e:~r ~e. date (M~~~D-'{'('('() of ~e 1ng lett~r (ind ~dual r cia~) . . I Sn I 

6 Checklist of certain actuarial assumptions: 

a Interest rate for "RPA '94" current liability . 

b Rates specified in insurance or annuity contracts 

c Mortality table code for valuation purposes: 

........ ................ ........ ................ . 1~1 3. 61 % 

Pre-retirement Post-retirement 

f l Yes fXI No f l NIA f l Yes fXI No f l N/A 

IW17PF _897 
BOARD OF TRUSTEES OF IRON WORKERS 51- 0161467 

Schedule MB IForm 550Q) 2014 Paae 3-11 

(1) Males · · · · · · ·· · · · · · · ·· · · · · · · ·· · · · · · · ··- · · - · · -· - -- - --- - -- - -- -- -- - -· - · 6c(1) A A 

(2) Females · · ··· · ·· · ·· ·· ·· · ·· · ·· · ·--- ----------- --- --- -- ------- -- --· -· · 6c(2) AF AF 

d Valuation liability interest rate ··· ··---------------------- ------- ----·-·· 6d 7.50% 7. 50 % 

e Expense loading · ·· · ·· ·· ·· · ·· · ·· · ·--- ----------- --- ---- -------- -- --· -· · 6e 3 9.0 o!ol r N/A %1 fXI NIA 

f Salary scale 6f %1 rx N/A 

g Estimated investment retum on actuarial value of assets for year ending on the valuation date 6g 11.5 % 

h Estimated investment retum on current value of assets for year ending on the valuation date . 6h 11.5 % 

7 New amortization bases established in the current plan year· 

(1) Type of base (2) Initial balance (3) Amortization Charge/Credit 

1 -2062 028 

8 Miscellaneous information: 

9 

a If a waiver of a funding deficiency has been approved for this plan year, enter the date (MM-00-YYYY) of the 

ruling letter granting the approval . 

b Is the plan required to provide a Schedule of Active Partidpant Data? (See the instructions.) If "Yes," attach schedule. 

c Are any of the plan's amortization bases operating under an extension of time under section 412(e) (as in effect prior to 

2008) or section 431(d) of the Code? . 

d If line cis "Yes," provide the following additional information: 

(1) Was an extension granted automatic approval under section 431(d)(1) of the Code? . 

(2) If line 8d(1 ) is "Yes," enter the number of years by which the amortization period was extended . 

(3) Was an extension approved by the Internal Revenue Service under section 412(e) (as in effect prior to 

2008) or 431(d)(2) of the Code? . 

(4) If line 8d(3) is "Yes," enter number of years by which the amortization period was extended (not including 

the number of years in line (2)) .. . . .. . ... . .. . .. .. .. . .. . .. . . .. . .. . . .. . ... . .. . .. .. .. . .. . .. . . .. . ... . .. . .. ... .. . . . 

(5) If line 8d(3) is "Yes," enter the date of the ruling letter approving the extension . 

8d(4) 

8d(5) 

(6) If line 8d(3) is "Yes," is the amortization base eligible for amortization using interest rates applicable under section 

6621(b) of the Code for years beginning after 2007? . 

e If box 5h is checked or line 8c is "Yes," enter the difference between the minimum required contribution for the 

year and the minimum that would have been required without using the shortfall method or extending the Be 

amortization base(s) . 

Funding standard account statement for this plan year: 

Charges to funding standard account: 

a Prior year funding defidency, if any 9a · · ··· · ·· · ·· ·· ·· · · · · ·· · · ·· · ·- -- --- ----------- - · ·· · ·· · · ··-· · -· · -· · -·-· ·-· · · 

b Employer's normal cost for plan year as of valuation date ·· · · · -· · -· · -·-· · · 9b 

c Amortization charges as of valuation date: Outstanding balance 

(1) All bases except funding waivers and certain bases for which the 

9c(1) amortization period has been extended 115206685 

(2) Funding waivers 9c(2} 

(3) Certain bases for which the amortization period has been extended 9c(3) 

d Interest as applicable on lines 9a, 9b, and 9c 9d · ·· ·· · · · · ·· · · ·· · ··· · ·· · ··· · ·· · · · ·· · · · ·· · ·· · · ··-· · -· · -· · -·-· ·-· · · 

e Total charges. Add lines 9a through 9d 9e ········· ·-··-··· ·------ ------------------------ -----------------·-··· Credits to funding standard account: 

f Prior year credit balance, if any 9f · · · · · · · ·· · · · · · · ·· · · · · · · ·· · · · · - -- -- - -- - - -- - -- - · -· · · 

g Employer contributions. Total from column (b) of line 3 . 9g 

Outstanding balance 

h Amortization credits as of valuation date 9h 9556941 · ·· · ·· ·· ·· · · · · ·· · · ·· · ··· · ·· · ·-·-· · · 

i Interest as applicable to end of plan year on lines 9f, 9g, and 9h 9i · · · ·-·-· · ·· ·· · · · ·· · ·· · · ··-· · -· 

j Full funding limitation (FFL) and credits: 

(1) ERISA FFL (accrued liability FFL) ·· · · · · · · -· · -· · -· ·· · - · · - ·· -· · -· · - · - · · · 9j(1) 146439133 

IW17PF _898 

- 2 17 304 

No 

No 

No 

No 

n Yes n No 

2928 662 4 

1 2 86081 

2963 6691 

4515705 

6472510 1 

12656837 

133 4734 

574736 
9o(1)

Due to amortization bases extended and amortized using the interest rate under section 6621(b) of the Code:

(3)

(2)

(1)

9 o

10

11

Current year's accumulated reconciliation account:

Due to waived funding deficiency accumulated prior to the 2014 plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(a)

(b)

Total as of valuation date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reconciliation outstanding balance as of valuation date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Reconciliation amount (line 9c(3) balance minus line 9o(2)(a))

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Contr bution necessary to avoid an accumulated funding deficiency. (See instructions.) . . . . . . . . . . . . . . . . . . . . . . .

Has a change been made in the actuarial assumptions for the current plan year? If "Yes," see instructions. . . . . . . . . . . . . . . . . . . . . . . . . Yes No

Schedule MB (Form 5500) 2014 Page 4

9o(2)(a)

9o(2)(b)

9o(3)

10

9n

9m

9l

9k(2)

9k(1)

9j(3)

9j(2)

l Total credits. Add lines 9f through 9i, 9j(3), 9k(1), and 9k(2)

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

m Credit balance: If line 9l is greater than line 9e, enter the difference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

n Funding deficiency: If line 9e is greater than line 9l, enter the difference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

FFL credit

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

"RPA '94" override (90% current liability FFL)

 . . . . . . . . . . . . . . . . . . . . . . . . . .

(1)

(2)

(3)

(2)

Waived funding deficiency k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BOARD OF TRUSTEES OF IRON WORKERS 51-0161467

250225787

14566307

50158794

0

50158794

X

IW17PF_899
51-0161467 Federal Statements

Iron Workers Local 17 Pension Fund

Plan: 001

Statement 6 - Schedule MB, line 4c - Documentation Regarding Progress Under Funding

Improvement or Rehabilitation Plan

Description

SEE ATTACHED

Statement 7 - Schedule MB, line 11 - Justification for Change in Actuarial Assumptions

Description

SEE ATTACHED

6-7

IW17PF 900
EXHIBIT IV (continued) 

Funding Standard Account Schedule of Funding Standard Account Bases (Charges) (Schedule MB, line 9c) 

Type of Base Date Established 

Amortization 

Amount 

Years 

Remaining 

O

Combined Bases 05/01/2004 $23,783,694 3.37 Change in Assumptions 05/01/2005 9,227 21 

Experience Loss 05/01/2005 942,064 6 

Change in Assumptions 05/01/2006 27,180 22 

Experience Loss 05/01/2006 779,524 7 

Experience Loss 05/01/2008 45,910 9 Change in Assumptions 05/01/2008 259,385 9 Experience Loss 05/01/2009 2,126,251 10 

Experience Loss 05/01/2010 143,634 11 

Experience Loss 05/01/2011 242,546 12 

Change in Assumptions 05/01/2011 560,749 12 Experience Loss 05/01/2012 716,527 13 

Total $29,636,691 

IW17PF_901
EXHIBIT IV (continued) 

Funding Standard Account Schedule of Funding Standard Account Bases (Credits) (Schedule MB, line 9h) 

Type of Base Date Established 

Amortization 

Amount 

Years 

Remaining 

O

Change in Asset Method 05/01/2011 $787,467 7 Experience Gain 05/01/2013 329,963 14 Experience Gain 05/01/2014 217,304 15 Total $1,334,734 

IW17PF_902
July 29, 2014 

ACTUARIAL STATUS CERTIFICATION AS OF MAY 1, 2014 UNDER IRC SECTION 432 

This is to ce1tify that Segal Consulting, a Member of The Segal Group, Inc. ("Segal") has prepared an actuarial status ce1tification under 

Intemal Revenue Code Section 432 for the Iron Workers Local 17 Pension Fund as of May 1, 2014 in accordance with generally accepted 

acturuial piinciples and practices. It has been prepared at the request of the Board ofTmstees to assist in administeiing the Fund and 

meeting filing and compliance requirements under federal law. This ce1tification may not othe1wise be copied or reproduced in any f01m 

without the consent of the Board ofTmstees and may only be provided to other pa1ties in its entirety. 

The measurements shown in this acturuial certification may not be applicable for other purposes. Future acturuial measurements may 

differ significantly from the cunent measurements presented in this rep01t due to such factors as the following: plan expe1ience diffeiing 

from that anticipated by the economic or demographic assumptions; changes in economic or demographic assumptions; increases or 

decreases expected as pa1t of the natural operation of the methodology used for these measurements (such as the end of an am01tization 

period or additional cost or contribution requirements based on the plan's funded status); differences in statut01y interpretation and 

changes in plan provisions or applicable law. 

This ce1tification is based on the May 1, 2013 actuarial valuation, dated Januruy 10,2014. Additional assumptions required for the 

projections and sources of fmancial inf01mation used are summruized in Exhibit V. 

Segal Consulting does not practice law and, therefore, crumot and does not provide legal advice. Any statut01y inte1pretations on which 

this ce1tification is based reflect Segal's understanding as an acturu·ial fum. 

This ce1tification was based on the assumption that the Plan was qualified as a multiemployer plan for the yeru·. 

I am a member of the American Academy of Acturu·ies and I meet the Qualification Standards of the Ame1ican Academy of Actuaries to 

render the acturuial opinion herein. To the best of my knowledge, the inf01mation supplied in this actua1ial ce1tification is complete and 

accurate. As required by IRC Section 432(b)(3)(B)(iii), the projected industry activity is based on inf01mation provided by the plan 

sponsor. In my opinion, the projections are based on reasonable actuarial estimates, assumptions and methods that (other than projected 

industry activity) offer my best estimate of anticipated expe1ience . - - . Redacted by the U.S. 

Department of the 

Treasu '". . ... ... , ............. , v lr1cr1cr\.. F CA 

Vice and Consulting Acturuy 

Enrolled Actua1y No. 14-05951 

* Segal Consulting IW17PF _903 
 Certificate Contents 

EXHIBIT I Status Determination as of May 1, 2014 EXHIBIT II Summary of Actuarial Valuation Projections EXHIBIT III Funding Standard Account Projections EXHIBIT IV Funding Standard Account – Projected Bases Assumed Established After 

May 1, 2013 

EXHIBIT V Actuarial Assumptions and Methodology 

IW17PF_904
EXHIBIT I 

Status Determination as of May 1, 2014 

Status Condition 

Test Compo

Result 

Critical Status  1. Funding deficiency projected in four years?  2. Funding deficiency projected in five years Yes  AND present value of vested benefits for non-actives more than present value of vested benefits for actives Yes 

AND normal cost plus interest on unfunded actuarial accrued liability (unit credit basis) greater than contributions 

for current year? 

Yes 

 3. Funding deficiency projected in five years Yes  AND funded percentage less than 65%? Yes  4. Funded percentage less than 65% Yes  AND assets plus contributions less than benefit payments and administrative expenses over seven years? No 

 5. Assets plus contributions less than benefit payments and administrative expenses over five years?  6. In critical status for immediately preceding plan year and funding deficiency projected within ten years? 

 In Critical Status? Endangered Status 

 1. Funded percentage less than 80% N/A  AND not in Critical Status? N/A  2. Funding deficiency projected in seven years N/A  AND not in Critical Status? N/A 

In Endangered Status? In Seriously Endangered Status? 

Neither Critical Status Nor Endangered Status 

Neither Critical nor Endangered Status? 

This certification also notifies the IRS that the Plan is making the scheduled progress in meeting the requirements of its Plan, as the Plan is projected to be solvent on May 1, 2026 (i.e., benchmark in the Rehabilitation Plan). 

IW17PF_905
EXHIBIT II 

Summary of Actuarial Valuation ProjectionsThe actuarial factors as of May 1, 2014 (based on projections from the May 1, 2013 valuation certificate): 

M

I. Asset and Contribution Information 

1. Market value of assets 2. Actuarial value of assets 3. Reasonably anticipated contributions 

a. Upcoming year b. Present value for the next five years c. Present value for the next seven years 

II. Liabilities 

1. Present value of vested benefits for active participants 2. Present value of vested benefits for non-active participants 

3. Total unit credit accrued liability 4. Present value of payments Benefit Payments Administrative Expenses 

a. Next five years $80,267,962 $1,658,570 b. Next seven years 105,468,776 2,228,865 

5. Unit credit normal cost plus expenses 

III. Funded Percentage (I.2)/(II.3) 

IV. Funding Standard Account 

1. Credit balance/(funding deficiency) as of the end of prior year 2. Years to projected funding deficiency, if within ten years 

IW17PF_906
EXHIBIT III 

Funding Standard Account Projections The table below presents the Funding Standard Account Projections for the Plan Years beginning May 1, 2013 through 

Year Beginning May 1, 

2013 2014 2015 2016 2017 2018 201

1. Credit balance/(funding 

deficiency) at beginning of year -$20,035,707 -$29,218,624 -$52,378,560 -$77,292,411 -$104,077,299 -$116,984,361 -$121,15

2. Interest on (1) -1,502,678 -2,191,397 -3,928,392 -5,796,931 -7,805,797 -8,773,827 -9,083. Normal cost 917,150 913,672 918,592 909,770 883,296 860,968 834. Administrative expenses 384,717 360,672 371,492 382,637 394,116 405,939 415. Net amortization charges 17,265,103 28,190,309 28,190,309 28,190,309 13,426,986 4,406,616 4,40

6. Interest on (3), (4) and (5) 1,392,523 2,209,849 2,211,029 2,211,204 1,102,830 425,514 427. Expected contributions 11,835,426 10,319,000 10,319,000 10,319,000 10,319,000 10,319,000 10,318. Interest on (7) 443,828 386,963 386,963 386,963 386,963 386,963 38

9. Credit balance/(funding 

deficiency) at end of year: (1) + (2) – (3) – (4) – (5) – (6) + (7) + (8) -$29,218,624 -$52,378,560 -$77,292,411 -$104,077,299 -$116,984,361 -$121,151,262 -$125,61

IW17PF_907
EXHIBIT III 

Funding Standard Account Projections (continued) 

Year Beginning May 1, 

2021 2022 

1. Credit balance/(funding deficiency) at beginning of year -$129,374,705 -$133,413,176 2. Interest on (1) -9,703,103 -10,005,988 3. Normal cost 773,535 754,735 4. Administrative expenses 443,581 456,888 5. Net amortization charges 3,472,494 3,472,494 

6. Interest on (3), (4) and (5) 351,721 351,309 

7. Expected contributions 10,319,000 10,319,000 8. Interest on (7) 386,963 386,963 9. Credit balance/(funding deficiency) at end of year: (1) + (2) – (3) – (4) – (5) – (6) + 

(7) + (8) -$133,413,176 -$137,748,627 

IW17PF_908
EXHIBIT IV 

Funding Standard Account – Projected Bases Assumed Established After May 1, 2013 Schedule of Funding Standard Account Bases 

Type of Base Date Established 

Base 

Established 

Amortization

Period 

A

Actuarial Gain 05/01/2014 -$3,121,465 15 

IW17PF_909
EXHIBIT V 

Actuarial Assumptions and Methodology The actuarial assumptions and plan of benefits are as used in the May 1, 2013 actuarial valuation certificate, dated Januexcept as specifically described below. We also assumed that experience would emerge as projected, except as describecalculations are based on a current understanding of the requirements of ERISA Section 305 and IRC Section 432.

Asset Information: The financial information as of April 30, 2014, including contribution income

and administrative expenses for the Plan year ended April 30, 2014, was based 

financial statement provided by the Fund Administrator. 

 For projections after that date, the assumed administrative expenses were assu

for the Plan year beginning May 1, 2014 and increased by 3% per year thereafpayments were projected based on the May 1, 2013 actuarial valuation. The pr

investment return was assumed to be 7.5% of the average market value of asse

2023 Plan Years. 

Projected Industry Activity: As required by Internal Revenue Code Section 432, assumptions with respect 

industry activity are based on information provided by the plan sponsor. Based information, the number of active participants is assumed to reduce from 640 

2014 and thereafter, and, on the average, contributions will be made for each ahours each year. 

Future Normal Costs: Based on the assumed industry activity, we have determined the Normal Cost 

group forecast with 607 active participants on May 1, 2014 and thereafter, and having similar demographic characteristics to those hired in the past five years

Demographic Adjustments: A demographic loss as of May 1, 2014 was included to account for the anticip

benefit accruals as actual contributions received were greater than expected du

ended April 30, 2014. 

Segal Consulting (“Segal”) does not practice law and, therefore, cannot and does not provide legal advice. Any statutorwhich the certification is based reflects Segal’s understanding as an actuarial firm. Due to the complexity of the statute significance of its ramifications, Segal recommends that the Board of Trustees consult with legal counsel when making regarding compliance with ERISA and the Internal Revenue Code. 

IW17PF_910
Justification for Change in 

Actuarial Assumptions (Schedule MB, line 11): For purposes of determining current liability, the current liability interest rate 

a change in the permissible range and recognizing that any rate within the permsatisfies the requirements of IRC Section 431(c)(6)(E) and the mortality tables accordance with IRS Regulations 1.431(c)(6)-1 and 1.430(h)(3)-1. 

 Based on past experience and future expectations, the following actuarial assu

changed:  Annual administrative expenses, previously $400,000 payable monthly.

Since this change did not affect the unfunded actuarial accrued liability, no amcreated.

IW17PF_911
Line 2a 

The amount reported on this line does not match the amount reported on Schedule H Line 1(l), column (a), because it dwithdrawal liability receivable, which represents contributions (withdrawal liability payments) expected to be paid by a 

employer after the end of the plan year. Line 3 Contributions, including cash withdrawal liability payments, are made periodically throughout the year pursuant to colagreements. The interest credited in the Funding Standard Account is therefore assumed to be equivalent to a Novembedate. In addition, a withdrawn employer has received judgment that it was not required to make any withdrawal liabilitprior withdrawal liability payments shall be refunded; therefore, the amount of contributions reported in the Schedule Mthe total amount of withdrawal liability payments received from the employer in the prior plan year ($79,440). 

IW17PF_912
EXHIBIT VIII 

Summary of Plan Provisions (Schedule MB, line 6) This exhibit summarizes the major provisions of the Plan included in the valuation. It is not intended to be, nor should 

a complete statement of all plan provisions. Plan Year: May 1 through April 30 

Pension Credit Year: May 1 through April 30 Plan Status: Ongoing plan Regular Pension: 

Age Requirement 65 or, if later, the age of the participant on the fifth anniversary of participatio

Service Requirement 5 benefit credits if participant earns one hour of service on or after May 1, 199

benefit credits 

Amount $100.00 per month per benefit credit earned prior to November 1, 2004, $50.0

benefit credit thereafter. 

Service Pension: 

Age Requirement 62Service Requirement 30 years of vesting service Amount Regular pension accrued, unreduced for early retirement 

Early Retirement: 

Age Requirement 58 Service Requirement 10 benefit credits 

IW17PF_913
Amount Regular pension accrued reduced by 3% for each year of age between ages 65 

retirements between age 62 and 58, benefit is actuarially reduced to be equivaretirement benefit payable at age 62. 

Disability: 

Age Requirement None Service Requirement 10 benefit credits or 10 years of vesting service, worked in covered employme

hours in the 24 months prior to becoming totally and permanently disabled, anawarded a Social Security Disability Benefit. 

Amount 80% of regular pension accrued. 

Deferred/Vested Pension: 

Age Requirement None Service Requirement 5 years of vesting service Amount Regular or early pension accrued Normal Retirement Age 65 

Pre-Retirement Death Benefits: 

Age Requirement None Service Requirement 5 years of vesting service Amount The designated beneficiary is eligible for 50% of the benefit the participant wo

had he or she retired the day before the date of death and elected the 50% join

option. If the participant died prior to eligibility for an early retirement pensiobeneficiary’s benefit is deferred to the participant’s earliest retirement age. Be

all participants regardless of marital status. 

IW17PF_914
Post-Retirement Death Benefit: If married, pension benefits are paid in the form of a 50% joint and survivor a

form is rejected by the participant and spouse. If not rejected, the benefit amoupayable is reduced to reflect the joint and survivor coverage. If not rejected, apredeceases the participant, the participant’s benefit amount will subsequently unreduced amount payable had the joint and survivor coverage been rejected (If rejected, or not married, benefits are payable for the life of the participant. Bpayable in any other available optional form elected by the participant in an acamount. 

Optional Forms of Payment: The following forms of payment are generally available under the plan for ma

 Single life annuity  75% joint and survivor annuity without pop-up provision 

Participation: First day of the month following completion of 475 hours of work in covered 

Benefit Credit: For plan years after April 30, 2006, 475-949 hours equals one-quarter credit, 9

equals one-half credit, 1,425-1,899 hours equals three-quarters credit, 1,900 oone credit. Hours worked in excess of 1,900 are banked. Maximum number of banked is 1,900. Banked hours will be converted to additional benefit credits a

For the plan year covering May 1, 2005 through April 30, 2006, 300-599 hourquarter credit, 600-899 hours equals one-half credit, 900-1,199 hours equals th1,200 or more hours equals one credit. For plan years before May 1, 2005, 300-599 hours equals one-quarter credit, 6

equals one-half credit, 900-1,199 hours equals three-quarters credit, 1,200-1,7credit, 1,750-1,999 equals one and one-quarter credits and 2,000 or more hourone-half credits. In order to earn more than one benefit credit, banked hours mFor plan years covering May 1, 1965 through April 30, 2006, hours worked in banked unless they were used to earn additional benefit credits for the plan yethey were worked. Maximum number of hours that can be banked is 1,200. Baconverted to additional benefit credits at retirement. 

IW17PF_915
Vesting Service: One year of vesting service for each pension credit year during the contributio

participant works 900 hours or more. One-quarter year shall be granted for 30hours, and one-half year for 600 but less than 900 hours. 

Contribution Rate: $10.00 per hour effective May 1, 2013 

There were no changes in plan provisions reflected in this actuarial valuation. 

IW17PF_916
The Plan was certified as making the scheduled progress in meeting the requirements of its Rehabilitation Plan. Under 

status certification, the Plan was projected to be solvent as of May 1, 2026 (i.e. the benchmark of the Rehabilitation Pla

IW17PF_917
IW17PF_918

I. Introduction 

REHABILITATION PLAN FOR THE 

IRON WORKERS LOCAL 17 PENSION FUND 

Effective May 1, 2011 

The Pension Protection Act of 2006 ("PP A") requires the Trustees of a multi employer pension plan 

that has been certified by the plan's actuary as being in Critical Status (also known as "Red Zone" 

status) to develop a Rehabilitation Plan ("Rehab Plan"). On July 29, 2008, the Iron Workers Local 17 

Pension Fund ("Pension Fund") was certified by its Actuary to be in Critical or Red Zone status for the 

plan year beginning May 1, 2008. 

Because the Pension Fund is in the Red Zone, the Board of Trustees ("Trustees"), as the Plan Sponsor, 

was required by law to develop and adopt a Rehab Plan. On August 4, 2008, the Board of Trustees 

adopted a Rehab Plan to be effective August 15, 2008. The PPA requires that the Schedule(s) included 

in this Rehab Plan be provided to the bargaining parties within 30 days of the date the Rehab Plan is 

adopted. The Rehab Plan must be designed, based upon reasonably anticipated experience and 

actuarial assumptions, to improve the funding levels of the Pension Fund so it is no longer in the Red 

Zone by the end of the Rehabilitation Period or at such later time as determined by the Trustees. At this 

time, the Trustees no longer believe, based upon the solvency modeling prepared by the Actuary, that 

the Pension Fund will ever be able to exit Critical Status. Accordingly, the Trustees are adopting the 

following schedules to forestall insolvency as allowed under Internal Revenue Code Section 

432( e)(3)(a)(ii). 

This document details the complete Rehab Plan adopted by the Board of Trustees at their meeting on 

August 4, 2008 as updated at their meeting on March 1, 2011. The Rehab Plan includes two separate 

Schedules. These new Schedules will be provided to the bargaining parties for implementation. Under 

this updated Rehab Plan, the Trustees have adopted two separate Schedules. The first is the "Alternate 

Schedule" which keeps the current level of benefits and adds a one time contribution increase of $0.50 

per hour starting May 1, 2013. The second Schedule is defined as the "Default Schedule" because it 

reduces "adjustable benefits", as defined below, to the extent necessary in order to avoid the need to 

increase the current hourly contribution rate allocated to the Pension Fund. 

In the past, the r,.ustees sought to bring the-benefit costs into line with the-contribution-rate alreadyin effect tlzrough the reduction and elimination of adjustable benefits. However, with the 

devastating assets losses caused by the market crash and the loss of contributions due to recession, 

additional contributions will be needed under this updated Rehab Plan in order to at least forestall 

the insolvency of the Pension FumL 

II. Required Changes Under the PPA 

The PP A requires that once the Pension Fund's actuary certifies that the Pension Fund is in Critical or 

Red Zone status, a Notice of the Certification of the Critical Status will be sent to all Participants, 

Beneficiaries, Retirees, the Local Union, Participating Employers and Employers Associations. This 

Notice was initially sent on August 15, 2008. The Critical Status Notice has been issued each year 

thereafter in August. 
IW17PF_919

Mandatory Suspension of Lump Sum Benefits 

Effective on August 15, 2008, which is the date the Notice of Critical Status was sent, the Pension 

Fund was no longer able to pay lump sums and similar benefits under the payout restrictions of 

thePPA. 

This restriction generally covers: 

1. Any payment, in excess of the monthly amount paid under a single life annuity; 

2. Any payment for the purchase of annuities from any insurance company; and 

3. Any other payments that the Secretary of Treasury adds to the list by regulation. 

Two benefits that were provided by the Pension Fund fall into this restricted category under the PP A. 

These are the Lump Sum Payment Option and the Pre-Retirement Death Benefit (commonly referred 

to as the "Return of Contributions Death Benefit"). Effective as of August 15, 2008, as part of the 

Rehab Plan, the Lump Sum Payment Option was eliminated as a distribution option under this Pension 

Fund. Additionally, as of August 15, 2008, the Pension Fund will no longer provide the PreRetirement Death Benefit referred to as the "Return of Contributions Death Benefit." 

Required Changes to Adjustable Benefits 

As provided in Article I above, the Tmstees have determined that certain "Adjustable Benefits" under 

the Pension Fund should be modified or eliminated. The term "Adjustable Benefits" generally covers 

all of the following: 

1. Any right to receive a retirement benefit prior to Normal Retirement Age; and 

2. Any early retirement benefit or retirement type subsidies including the Early 

Retirement Benefit and 30 Year Service Pension under this Pension Fund; and 

3. All disability benefits not yet in payment status including the Occupational and 

Total and Permanent Disability Pensions; and 

4. All pre-retirement death benefits other than the Qualified Pre-retirement 

Survivor Annuity; and 

5. All post-retirement death benefits that are not part of an annuity form of 

payment; and 

6. All pro rata pensions to the extent that they are contingent on eligibility to 

receive one of the adjustable benefits under this Pension Fund; and 

7. All benefits, rights and features under the Pension Fund that are not otherwise 

referenced above; and 

8. All benefit increases that would not be eligible for a guarantee under ERISA 

Section 4022A on the first day of Pension Fund's critical year because the 

increase was adopted less than 60 months prior to May 1, 2008. 

The Tmstees initially modified and eliminated certain Adjustable Benefits under the Rehab Plan in 

order to meet the funding improvement requirements under PP A. These remaining Adjustable 

2 
IW17PF_920

Benefits are maintained by virtue of an additional contribution requirement under the Alternate 

Schedule. The disability pension benefit, which is an adjustable benefit, is now required to be 

eliminated as part of the Default Schedule included in this updated Rehab Plan. These changes are 

detailed in the Rehabilitation Schedules under Article IV, below. 

Ill. Rehabilitation Period 

The PPA specifies a ten year rehabilitation period to emerge from Critical, or Red Zone, status. For 

this Pension Fund, the rehabilitation period began May 1, 2010. Under the initial Rehab Plan adopted 

August 2008, the rehabilitation period was scheduled to end April 30, 2021. The Trustees agreed to 

this eleven year rehabilitation period because PP A provides for emergence from Critical Status at a 

date longer than ten years if the Trustees determine that the Pension Fund cannot reasonably be 

expected to emerge within the ten year rehabilitation period. Due to the significant loss of assets that 

this Pension Fund experienced during the plan year ending April 30, 2009, the Trustees determined 

that it was no longer feasible for the Pension Fund to exit critical status under this eleven year 

rehabilitation period. However, the Trustees elected to delay the update of this Rehab Plan for the plan 

year beginning May 1, 2009 as allowed under the Worker, Retiree, Employer Recovery Act of 2008 

("WRERA") in order to evaluate the impact of this dramatic asset loss on the current Rehab Plan. 

The Trustees worked with the Actuary and Plan Professionals to evaluate the impact of the asset and 

contribution base losses. After difficult discussions with the bargaining parties in which the future 

employment projections were reviewed along with the stability and viability of the employers, it was 

determined that the significant contribution increases necessary to even avoid insolvency were more 

than the employers and industry in this geographic area could bare. With this said, the bargaining 

parties also looked at the impact that the contribution increases would have if they were negotiated out 

of the current base pay and determined that this was also not feasible in light of the rising cost of living 

facing these employees and their families. After working through all possible funding scenarios, the 

Tmstees determined that the contributions necessary to even maintain the long-tenn solvency of the 

Pension Fund without ever exiting Critical Status were not available from any source. In light of this 

fact, the Tmstees determined to adopt this updated Rehab Plan which when adopted forestalls 

insolvency from the Plan Year beginning May 1, 2025 to the Plan Year beginning May 1, 2026 as 

allowed by Code Section 432(e)(3)(a)(ii). 

IV. Rehabilitation Plan Schedules 

The changes under the Rehabilitation Plan will not be effective for any Participant who retired prior to 

the date the Notice of Critical Status was sent (August 15, 2008). Additionally, these changes do not 

impact a Participant's benefit at Normal Retirement Age. 

Normal Retirement Benefit: All Participants under the Pension Fund are eligible to retire with an 

unreduced monthly pension benefit when they reach Normal Retirement Age. Normal Retirement 

Age is defined as "the later of age 65 or the age the Participant completes his or her 5th anniversary of 

participation under this Pension Fund." 

3 
IW17PF_921

A. Alternate Schedule 

The Alternate Schedule mirrors the "New Schedule of Benefits" previously approved by the Trustees 

effective May 1, 2009 with an additional contribution required. 

Summary of Contribution Increase under the Alternate Schedule: The one additional change is that 

under thls Alternate Schedule, additional contributions shall be necessary effective May 1, 201.3 in the 

amount of $0.50 per hour. This increases the hourly contribution rate to $10.00 effective May 1, 2013 

and thereafter. 

Summary of Benefits under the Alternate Schedule: 

1. Early Retirement Subsidies Reduced 

Effective prior to May 1, 2009, a Participant was eligible to retire with an unreduced monthly 

pension benefit at age 62 and to retire with a reduced monthly pension benefit as early as age 

55 ifhe or she has earned at least 10 full Pension Credits. Participants were eligible to receive 

an increase of one-quarter of one percent (.25%) per month for each full month, or three 

percent (3.0%) for each full year, worked after age 62 until reachlng age 65. The early 

retirement reduction for a Participant who retires prior to age 62 but after age 60, was onequarter of one percent ( .25%) per month for each full month, or three percent (3.0%) for each 

full year, he or she retires prior to reaching age 62, but after age 60. For benefits accrued on or 

after November 1, 2004, the reduction was one-half of one percent (.50%) per month for each 

full month, or six percent (6.0%) for each full year, that participants retire prior to age 62. For 

benefits accrued on or after November 1, 2004, the early retirement reduction was one-half of 

one percent (.50%) per month for each full month, or six percent (6.0%) for each full year, that 

a Participant retires prior to age 62. The early retirement reduction for a Participant who retires 

prior to age 60was one-half of one percent (.50%) per month for each full month, or six percent 

(6.0%) for each full year that he or she retires prior to age 65. A Participant was eligible for an 

umeduced monthly benefit under the 30 Year Service Pension as early as age 55 for benefits 

accrued prior to November 1, 2004, and age 58 for benefits accrued after that date, provided 

her or she had at least 30 years of Vesting Service. 

Effective for retirements on or after May 1, 2009, a Participant under the Pension Fund will 

be eligible to retire with a reduced monthly pension benefit when they reach age 58 and have 

earned at least 1 0 full Pension Credits. The amount of the reduction depends upon the 

Participant's age at the time of retirement. For a Participant who retires prior to age 65 but 

after age 62, hls or her pension benefit will be reduced by one-quarter of one percent (.25%) for 

each full month he or she retires prior to age 65. This results in a reduction of three percent 

(3.0%) per year. All increases for Participants retiring after age 62 but prior to age 65 remain 

eliminated. 

For a Participant who retires prior to age 62 but after age 58, hls or her pension benefit will be 

reduced by actuarially equivalent reduction factors, as defined in the Plan Document, for each 

year prior to age 62, plus three percent (3.0%) per year for each year between age 62 and 

Normal Retirement Age (age 65). 

Participants who have at least 30 years of Vesting Service under thls Pension Fund will still be 

able to retire with an unreduced monthly pension benefit when they reach age 62. 

4 
IW17PF_922

Below is a comparison of the Early Retirement reduction factors prior to and after the adoption 

of the initial New Schedule of Benefits under the Rehab Plan: 

Prior Reduction Factors 

Accruals Prior to 

Retirement Age November 1, 2004 

64 

63 

62 

61 

60 

59 

58 

57 

56 

55 

3.00% 

6.00% 

12.00% 

18.00% 

24.00% 

30.00% 

36.00% 

Accruals After 

November 1, 2004 

6.00% 

12.00% 

18.00% 

24.00% 

30.00% 

36.00% 

42.00% 

Reduction Factors 

Under Rehab Plan* 

3 .. 00% 

6.00% 

9.00% 

19.40% 

28..50% 

36.50% 

43.60% 

N/A 

N/A 

N/A 

* Reduction factors from age 58 through 61 are calculated based on the definition of Actuarial Equivalence in 

the Plan Document, and rounded to the nearest tenth of a percent and are interpolated for non-interger ages. 

2. Occupational Disability Benefit Eliminated 

Any Participant who becomes Totally and Permanently Disabled and meets the following 

requirements will still be eligible to receive a Total and Permanent Disability Pension Benefit 

equal to 80% of his or her benefit at Normal Retirement Age. 

The eligibility requirements are: 

(a) The Participant must receive a Social Security Award certifying his or her disability; 

and 

(b) The Pruiicipant must have earned at least 1 0 Pension Credits or 10 years of Vesting 

Service; and 

(c) The Participant must have worked in Covered Employment for at least 4 7 5 hours in the 

24 months immediately preceding the time he or she became Totally and Permanently 

Disabled. 

The Occupational Disability Benefit which allowed a Participant who did not receive a Social 

Security Award for his or her disability but met the criteria of not being able to perform any 

employment or self-employment in the building trades to receive 40% of his or her benefit at 

Normal Retirement Age remains eliminated. Auxiliary disability payments for Participants 

who fail to timely file applications for disability benefits also remain eliminated. 

5 
IW17PF_923

3. Death Benefits Modified 

Under the Pension Fund, survivor benefits will be continued for surviving spouses and other 

designated Beneficiaries. However, as noted in Article II above, the Pension Fund is no longer 

able to pay the Pre-Retirement Death Benefit (commonly referred to as a "Return of 

Contributions Death Benefit") under the payout restrictions set forth in the PP A. Effective 

August 15, 2008, in the event that a Participant dies prior to retirement, a surviving spouse or 

surviving Beneficiary will be entitled to receive a Pre-retirement Survivor Annuity. This PreRetirement Survivor Annuity is equal to 50% of the Participant's monthly pension benefit 

calculated with any adjustments necessary based upon the earliest date the Participant could 

have retired if he or she had smvived to that date. 

If the Participant was eligible to start receiving any retirement benefit (other than disability) at 

the time of his or her death, the Participant's surviving spouse or beneficiary will be entitled to 

begin the 50% monthly benefit payment immediately with any adjustments necessary for the 

Participant's age and service at that time. 

If the Participant was not eligible to start receiving any retirement benefit (other than disability) 

at the time of his or her death, the Participant's surviving spouse or beneficiary wm be entitled 

to begin the 50% monthly benefit payment at the time the Participant would have reached his or 

her earliest retirement date under the Pension Fund with any adjustments for the Participant's 

age and service at that time. 

4. Payment Options Eliminated 

The Normal Form of Payment under the Pension Fund remains as a Joint and 50% Survivor 

Annuity for married Participants and the Single Life Annuity for single Participants. The Sixty 

(60) Payment Guarantee remains eliminated for both single and married Participants. The 

Lump Sum Payment Option remains eliminated as a payment option effective August 15, 2008. 

The Qualified Joint and 75% Survivor Annuity remains as an Optional Form of Payment for 

married Participants as required by federal law. As of January 1, 2009, any married Participant 

that retires is eligible to elect to receive his or her monthly benefit in the form of a Qualified 

Joint and 75% Survivor Annuity. This optional form of payment will be actuarially equivalent 

to the Joint and 50% Survivor Annuity which means the Participant's benefit is actuarially 

reduced in order to provide the higher 75% survivor payment if the Participant predeceases his 

or her spouse. 

5. Pension Credit Hours Bank Restoration Amendment Eliminated 

In May 2006, the Trustees adopted an amendment to the Plan in order to restore the Hours 

Bank for Participants who were adversely affected by the increase in the hours requirement for 

earning a Pension Credit that was effective May 1, 2006. The Trustees adopted a restoration 

rule that increased the Hours Bank for any Participant that maintained the maximum Hours 

Bank of 1,200 hours during five of the ten years prior to May 1, 2006 to a full bank under the 

new rule of I ,900 hours. Since this amendment was a benefit increase adopted within the 60 

months prior to May I, 2008, the amendment was eliminated. The amendment remains 

eliminated under this Alternate Schedule. 

6 
IW17PF_924

B. Default Schedule 

The Default Schedule adopts all of the changes in the ''New Schedule of Benefits" previously 

approved by the Trustees effective May 1, 2009 and eliminates additional adjustable benefits effective 

May 1, 2013, so no additional contribution required. 

Summary of Contribution Increase under the Default Schedule: Under the Default Schedule, no 

additional contributions are required, so the hourly contribution rate remains at $9 . .50 effective May 1, 

2013 and thereafter. 

Summary of Benefits under the Default Schedule: 

I. Early Retirement Subsidies Modified 

Effective for any Participant that retires on or after May 1, 2013, the Early Retirement 

Benefits available under this Default Schedule remain the same as those under the Alternate 

Schedule. 

2. All Disability Benefits Eliminated 

Effective for any Participant that retires on or after May 1, 2013, the Disability Pension 

Benefit is eliminated. This applies for the Total and Permanent Disability Pension along with 

the Occupational Disability Pension which was eliminated under the initial Rehab Plan. 

3. Death Benefits Modified 

Effective for any Participant that dies on or after May 1, 2013, the Death Benefits available 

under this Default Schedule remain the same as those under the Alternate Schedule. 

4. Payment Options Modified 

Effective for any Participant that retires on or after May 1, 2013, the payment options 

available under this Default Schedule remain the same as those under the Alternate Schedule. 

5. Pension Credit Hours Bank Restoration Amendment Eliminated 

Effective for any Participant that retires on or after May 1, 2013, the Pension Credit Hours 

Benefit defmition under this Default Schedule remains the same as those under the Alternate 

Schedule. 

The Trustees are prohibited from adopting any benefit changes after the date this Rehab Plan is 

adopted that are inconsistent with the terms of this Rehab Plan. Additionally, changes that increase 

the benefits provided under this Pension Fund are not allowed unless the Fund's actuary certifies 

that such increases are paid solely from additional contributions and will not adversely affect the 

ability of this Pension Fund to forestall insolvency as ofthe date designated in this Rehab Plan. 

V. Adoption of the Rehab Plan 

The Trustees adopted the initial Rehab Plan in advance of the statutory deadline under the PP A with 

the anticipation that the bargaining parties would agree to the New Schedule of Benefits and 

incorporate it in the current Collective Bargaining Agreement between the Steel and Iron Contractors 

Association and Construction Employers Association of Cleveland and the Iron Workers Local No. 17 

7 
IW17PF_925

Union ("Bargaining Parties") effective immediately. The Bargaining Parties did adopt the New 

Schedule of Benefits effective August 21, 2008 and also incorporated the initial New Schedule of 

Benefits under the Collective Bargaining Agreement effective August 1, 2009 through April 30, 2013. 

In the future, if the bargaining parties do not adopt one of the Schedules provided under this Rehab 

Plan prior to the end of the 180 day period following the expiration of the current Collective 

Bargaining Agreement on April 30, 2013, the Default Schedule will be automatically implemented by 

the Trustees. 

VI. Implementation of ~he Rehab Plan 

The following rules describe how the Rehab Plan will be administered by the Pension Plan, including 

how the Schedules will be applied to various types of participants and in various circumstances. 

A. Pensioners 

1. Current Pensioners 

Nothing in this Rehab Plan or either of the Schedules will affect the benefits of a Participant 

who was receiving his or her pension benefit from this Pension Plan as of April 30, 2013. 

In the event there is a Participant that submitted a completed retirement application on or 

before April 30, 2013, however, their pension benefits did not start until after April, 30 2013, 

that pensioner shall not be affected by the Rehab Plan changes adopted under either Schedule. 

2. Future Pensioners 

In the case of a pensioner who retires from covered employment and whose pension application 

is received by the Pension Plan after April 30, 2013, but before a Schedule becomes applicable 

to the Employer for which he was last employed, his pension will initially be determined in 

accordance with the benefits in place immediately prior to the adoption of this Rehab Plan. If 

the Default Schedule becomes applicable (by agreement or imposition) to the Employer for 

which he was last employed, his pension will be adjusted prospectively to reflect the Default 

Schedule based upon his age at the time of the retirement. 

In the case of a pensioner who retires from covered employment after a Schedule becomes 

applicable to the Employer for which he was employed, his benefits will be determined in 

accordance with this Rehab Plan and the Schedule that is applicable to the Employer for which 

he was employed. 

In the case of a pensioner who retires after separating from covered employment, his benefits 

will be determined in accordance with this Rehab Plan in the same manner as Inactive 

Participants. 

3. Pensioners Returning to Covered Employment 

In the case of a pensioner who returns to covered employment, the pension that he was 

receiving will not be affected by the Schedule applicable to the Employer for which he 

becomes re-employed. However, any benefits that he earns during his re-employment will be 

based on the Schedule applicable to the Employer for which he is re-employed. 

8 
IW17PF_926

B. Active Participants 

1. Current Actives 

Once a Schedule becomes effective for an Employer, the benefits of a Participant who then has 

one or more hours of service with the Employer will be determined under that Schedule. If the 

Participant subsequently leaves covered employment, his benefits will be treated tmder the 

Schedule applicable to him at the time that his covered employment terminated. 

2. Change in Employer 

In the case of a Participant who changes employment from one Employer to another Employer 

and the Schedule applicable to his new Employer is different than the Schedule applicable to 

his old Employer, his benefits will be determined as follows: 

(a) The benefits that he accrued for covered employment with his old Employer will be 

treated in accordance with the Schedule applicable to that Employer at the time that he 

accrued the benefits. 

(b) The benefits that he accrues for covered employment with his new Employer will be 

treated in accordance with the Schedule applicable to that Employer at the time that he 

accrues the benefits. 

3. Inactive Participants 

In the case of a Participant who has separated from covered employment before May 1, 2013, 

his benefits will be determined under the Default Schedule. 

A Participant will be deemed to have separated from covered employment for this purpose if 

contributions have not been made for him for at least six (6) consecutive calendar months. 

Military Service: A Participant who enters qualified military service within the meaning of 

Section414(u) of the Internal Revenue Code and USERRA and returns to covered employment 

within the time limits set by these laws, and is therefore entitled to vesting and pension credit 

for his period of military service, shall be treated as an active participant, not as an inactive 

participant. 

Inactive Participant Return to Covered Employment: In the case of a non-retired Participant 

who separated from covered employment and returns to covered employment, his benefits 

based-on his pre-break covered employment will-be determined-under the-13efault Schedule and 

any benefits that he earns for his post-break covered employment will be based on the Schedule 

applicable to the Employer for which he is re-employed. 

C. Special Implementation Issues 

1. Rights ofBeneficiary 

The benefits of a beneficiary (e.g. surviving spouse) will be determined on the same basis as 

those of the Participants under this Rehab Plan. 

9 
2. Alternate Payees under a QDRO 

The benefits of any "alternate payee" under a Qualified Domestic Relations Order (QDRO) 

will be determined on the same basis as those of the Participant whose pension is divided by 

the QDRO. If the benefits of the Participant are affected by a Schedule, the benefits of the 

alternate payee will be likewise affected unless specifically provided otherwise in the express 

terms of the QDRO. 

VI. Monitoring and Updating of the Rehab Plan 

On an annual basis, in conjunction with the actuarial valuation, a projection will be done to determine 

if the Pension Fund is expected to forestall insolvency from occuning earlier than May I, 2026. 

During this annual review, the Ftmd's actuary will reflect the Pension Fund's actual experience for the 

prior plan year, as well as, expected future experience taking into account changes under this Rehab 

Plan effective as of a future date. In the event that the Pension Fund fails to meet its annual 

benchmarks established to keep it on track to meet its solvency objectives, the Trustees will update this 

Rehab Plan as necessary. 

VII. Adoption of the Rehab Plan 

The Board of Trustees for the Iron Workers Local 17 Pension Fund indicate their adoption and 

approval of the aforesaid Rehabilitation Plan effective May l, 2011 in accordance with the 

requirements of the Pension Protection Act of 2006 as follows: 

William Meaden 

Redacted by the U.S. 

Department of the Treasury 

Richard Jordan Chuck Fischer 

10 

IW17PF_927 
SCHEDULE MB 

(Fonn 5500) 

Dopartmertt of !he TreaSI.W)' 

lnt&m81 Re~~erue SenM:e 

Department ol Lib« 

Employee Berefits Security Admlrisualion 

Pension Beneftt Guaranty Co~porat on 

Multiemployer Defined Benefit Plan and Certain 

Money Purchase Plan Actuarial Information 

This schedule is required to be filed under section 104 of the Employee 

Retirement Income Security Act of 1974 (ERISA) and section 6059 of the 

Internal Revenue Code (the Code). 

~ File as an attachment to Form 6600 or 6500-SF. 

For calendar plan year 2014 or fiscal plan year beginning OS/ 01/2014 and ending 

~ Round off amounts to nearest dollar. 

~ Caution: A penalty of $1 ,000 wi ll be assessed for late filing of this report unless reasonable cause is established. 

OMS No. 121().0110 

2014 

This Form is Open to Public 

Inspection 

04/30/201 5 

A Name of plan B Three-digit I 

IRON WORKERS LOCAL 1 7 PENSION FUND plan number (PN) ~ 001 r-~~~~~~------~--~~--

C Plan sponsor's name as shown on line 2a of Form 5500 or 5500-SF D Employer Identification Number (EIN) 

BOARD OF TRUSTEES OF IRON WORKERS LOCAL 17 PENSION FUND 51 -0161467 

E Type of plan: (1) £9 Multiemployer Defined Benefit (2) 0 Money Purchase (see instructions) 

1 a Enter the valuation date: Month _ _,0.-_.5"'----_ Day 01 Year 2014 

b Assets 

(1) Current value of assets ........•........ '"'''' '' ''"'''' '''- ''' '' '"''''''' '''' ·•~•••·• ••• •• •••O"'''U' ''" ''''' '' ''' '' ''' 1b(1) 86864772 

(2) Actuarial value of assets for funding standard account. .......•................... ·-····························· .......•. 1b(2) 86864772 

c (1) Accrued liability for plan using immediate gain methods .................................................................. 1c(1) 22180114 0 

(2) Information for plans using spread gain methods: 

(a) Unfunded liabillly for methods with bases ........................................................................................ 1c(2)(a) 

(b) Accrued liability under entry age nonnal method ........•..........•......•..•.......•....................................... 1c(2)(b) 

(c) Normal cost under entry age normal melhod ......•••................... ·-·······················-···-························ 1c(2)(c) 

(3) Accrued liability under unit credit cost method ........•........ ....... ..............•...................................•.............. 1c(3) 221801140 

d Information on current liabilities of the plan: 

(1) Amount exduded from current liabi ity attributable to pre-participation service (see instructions) ............. 1d(1) 

(2) "RPA '94" information: 

(a) Current liability .................................. ..... .. ....................................................................................... 1 d(2)(a) 363 251 849 

(b) Expected increase in current liability due to benefits accruing during the plan year ............................ 1d(2)1b) 224 97 35 

(c) Expected release from "RPA '94" current liability for the plan year ................................................... , 1d(2)(c) 1943 5 868 

(3) Expected plan disbursements for the plan year ••·•••- ••••••••••••••••••••-•n•••••••••••••••••••••••••-••••ooooooo• ·••••••• •••••• 1d(3) 1 9 810868 

Statement by Enrolled Actuary 

To lile best d. my knONI&age, tha tnfoiTTlBSQn supplied in U1ts sehedt.lo and acc:onp110y1ng S<:nedules, sratemonts and ana.:nmtliU. 11 any. ts compote end accurole, Each prescribed assunpli<IO was aj:plied in 

accordorco with applic8blotAW and rogulaaons In my oporion. ea:h o!Mr asst.mpC)on Is roa!Sonobte (taking ill to eccOU\l lhe &J<Pononco of lhe ptan androosonatfe eJ<l)ectatlons) and such olher assumplions, in 

cornblrolJon, ot!etmy best estlmalo of an~clpated 8>Jl0111!11Ce under the plan 

WONG 

Signature of actuary 

HENRY WONG, ASA, MAAA, FCA 

Type or print name of actuary 

SEGAL CONSULTING 

Firm name 

1 01 NORTH WACKER DRIVE, SUITE 500 

CHICAGO IL 

02 / 04 / 2016 

Date 

1405951 

Most recent enrollment number 

3 1 2-984 -8500 

Telephone number (including area code) 

If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule, check the box and see 

Instructions 0 

For Paperwork Roduction Act Notice and OMS Control Numbors, sea the Instructions for Form 5500 or Form 5500-SF. 

IW17PF _928 

Schodule MB (Form 5500) 2014 

v. 140124 
Schedule MB (Form 5500) 2014 Page 2·D 

2 Operational infmnatioo as of beginning of this plan yea~: 

a Current value of assets (see instructions) ............. ..................................... .......................r-------------L- .. ................................ 1 2a __ ,_ __________________ 8 6 8 64 7 7 2 __ b "RPA '94" current liability/participant count breakdown: (1) Number of participants (2) Current liability ~~~~~~~~ ~--~~~~ 8 __ 6 

(1) For retired participants and beneficiaries receiving payment ..... .......................... . 

(2) For terminated vested participants ............................................. .......................... . 302 37935839 

(3) For active participants: 

(a) Non-vested benefits .... ........................ ................................................................ . 606695 4 

(b) Vested benefits ........... ........................... ......................................................... . 9038 9770 

(c) Total active .................. ........................... ......................................................... . 6 3 2 9645 6724 

(4) Total ................................... ......................................................................................... . 1971 36325 1 8 49 

23.91% 

3 Cootr butions made to the plan fa- the plan year by employer(s) and employees: 

(a) Date (b) Amount paid by (c) Amount paid by (a) Date (b) Amount paid by (c) Amount paid by 

(MM-DD-YYYY) employer(s) employees (MM-DD-YYYY) employer(s) employees 

11/ 01 / 2014 12656837 

Totals .,. 1 3(bJ 1265 6 8 37 3(c) I 0 

4 lnfmnatioo oo plan status: 

a ~:~ ~~~ ~~~~~~~~ a_n ~t~~~-(~~~ ~~ ~~~t~ ~~~-f~ ~~ ~- e-nt __ o_f ~u~~~~~ ~~-~~n~-~- ~-f· :_ ~- ~- s __ _ s-.ta._t_u_ ~- ) -- ~- __ ~-4a-f------------ b Funded percentage for monitoring plan's status (line 1b(2) divided by line 1c(3))............. _ _ 

c 

39.2 % 

c Is the plan making the scheduled progress under any applicable funding improvement or rehabilitation plan? . ........................ ..... . .......... ·· ---~ 

d If the plan is in critical status, were any adjustable benefits reduced? .................................................................................. ............................ -0 

e If lined is "Yes," enter the reduction in liability resulting from the reductioo in adjustable benefits, measured as 

ofthe valuation date.... ...... . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4e 

f If the rehabilitatioo plan projects emergence from critical status, enter the plan year in which it is projected to 

emerge. 

If the rehabilitation plan is based on forestall ing possible insolvency, enter the plan year in which insolvency is 

expected and check here ...................... ......... ............................................................................................ ~ 

4f 

5 Actuarial cost method used as the basis for this plan year's funding standard account computatioos (check all that apply): 

Yes D 

Yes ~ 

a D Attained age normal b D Entry age normal c ~ Accrued benefit (unit credit) 

d 0 Aggregate 

e 0 Frozen initial liability f D Individual level premium g D Individual aggregate h D Shortfall 

IW17PF _929 

No 

No 

2 0 26 
Schedule MB (Form 5500) 2014 Page 3 • D 

0 Reorganization D Other (specify): 

k If box h is checked, enter period of use of shortfall method .. ···l 

Has a change been made in funding method for this plan year? 

m If line I is "Yes," was the change made pursuant to Revenue Procedure 2000-40 or other automatic approval? .. 

n If line I is "Yes," and line m is "No," enter the date (MM-00-YYYY) of the ruling letter (individual or class) 

approving the change in funding method ... ..................................................................................................... . 

6 Checklist of certain actuarial assumptions: 

a Interest rate for "RPA '94" current liability .. ................................................. .................................... 

Pre-retirement 

b Rates specified in insurance or annuity cootracts .. .................................. . D Yes ~ No D N/A 

c Mortality table code for valuation purposes: 

(1) Males ................................. . 

(2) Females ............................. . 

d Valuation liability interest rate .. 

e Expense loading .. 

f Salary scale ........ . 

6c(1) 

6c(2) 

6d 

6e 39.0 % 

6f % 

g Estimated investment return on actuarial value of assets for year ending on the valuation date 

h Estimated investment return on current value of assets for year ending on the valuation date 

7 New amortization bases established in the current plan year: 

]. 

7 .SO% 

D N/A 

~ N/A 

6g 

6h 

5k 

.. o Yes ~ No 

···D Yes D No 

~ 6a I 3 . 61% 

Post-retirement 

D Yes ~ No D N/A 

A 

A 

7 .SO% 

~ N/A 

1l.S% 

11.S% 

(1) Type of base (2) Initial balance (3) Amortization Charge/Credit 

- 2062028 

8 Miscellaneous information: 

a If a waiver of a funding deficiency has been approved for this plan year, enter the date (MM-DD-YYYY) of the 

ruling letter granting the approval ............................................................................................................................ . 

b Is the plan required to provide a Schedule of Active Participant Data? (See the instructions.) If "Yes," attach schedule. 

c Are any of the plan's amortization bases operating under an extension of time under section 412(e) (as in effect prior to 

2008) or section 431 (d) of the Code? ...................................... ................................................................................................ . 

d If line cis "Yes," provide the following additional information: 

(1) Was an extension granted automatic approval under section 431(d)(1) of the Code? .. ............................. . 

- 217304 

Yes D No 

0 Yes ~ No 

D Yes D No 

(2) If line 8d( 1) is "Yes," enter the number of years by which the amortization period was extended ... .... ... ... .. . ... ~..I _d...;.(2...;.---~, __________ _ 

(3) Was an extension approved by the Internal Revenue Service under section 412(e) (as in effect prior to 

2008) or 431 ( dX2) of the Code? ..................................................................................................................... . D Yes D No 

:: ::::~; : ~: ;::; ~:~;:::::;::,:~:::::::::? 7?'~ (:~ ;,~~ ,: .II- :-:-~J)-t----------- (6) If line 8d(3) is "Yes," is the amortization base eligible for amortization using interest rates applicable under section 

6621(b) of the Code for years beginning after 2007? ....................................................................................... . 0 Yes 0 No 

e If box 5h is checked or line 8c is "Yes," enter the difference between the minimum required contribution for the 

year and the minimum that would have been required without using the shortfall method or extending the Be 

amortization base(s) ..................................................... ........................................................................................... . 

9 Funding standard account statement for this plan year: 

Charges to funding standard account: 

a Prior year funding deficiency, if any .... ................................ . 9a 29286624 

b Employer's normal cost for plan year as of valuation date .. 9b 1286 081 

IW17PF _930 
Schedule MB (Form 5500) 2014 Page 4 

Outstanding balance 

c Amortization charges as of valuation date: 

(1) All bases except funding waivers and certain bases fcr which the 9c(1) 

amortization period has been extended ........................................................ l---+-------;;;.;;;..;;..;;..;..;_;_;;..; 1-"~------ 91 

(2) Funding waivers............................................................................................. 9c(2) 

r-----r--------------------r-----------------

(3) Certain bases fcr which the amortization period has been extended .......... 9c(3) 

~----~-------------r-----r-----------------

d Interest as applicable on lines 9a, 9b, and 9c ................................................................. ............................................. 9d 4515705 r-----~------------------

e Total charges. Add lines 9a through 9d........................................................................... ............................................. 9e 64 725101 ~----~------------------

Credits to funding standard account: 

f Pricr year credit balance, if any . .... ... ... ... ... ... ... .. .... ... ... ... ... ... ... ... ... .... ... ... ... ... ... ... ... ... .... ... ... ... ... ... ... ... ... ... .... ... ... ... ... ... . 9f 0 

~----~------------------ g Employer contributions. Total from cdumn (b) of line 3 ................................................. ............................................ . 9g 12656837 

Outstanding balance 

h Amortizationcreditsasof valuationdate............................................................ 9h 955694 1334734 ~----~-------------r-----r-----------------

lnterest as applicable to end of plan year on lines 9f, 9g, and 9h .................................. ........................ .................... 9i 57 4 7 3 6 

~----r-------------------

Full funding limitation (FFL) and credits: 

(1) ERISAFFL (accruedliabilityFFL) ................ ............................................. 9j(1) 14643913 

r-----r-------------------~ (2) "RPA '94" override (90% current liability FFL) .......................................... 9j(2) 25022578 ~~~~-------------r-----r-----------------

(3) FFL credit ................................................... ............................................................. ............................................. 9j(3) 

~----~------------------ k (1) Waived funding deficiency ........................ ........................................................................................................... 9k(1) 

~----~------------------ (2) Other credits...................... ...................................................................................... ............................................. 9k(2) 

~----~------------------ Total credits. Add lines 9f through 9i, 9j(3), 9k(1), and 9k(2).............. ........................... ............................................. 91 

~----~------------------

14566307 

m Credit balance: If line 91 is greater than line 9e, enter the difference . ........................................................................ . 9m ~--~----------

n Funding deficiency: If line 9e is greater than line 91, enter the difference.................................................................... 9n 50158794 

~----L-------------------

9o Current year's accumulated reconciliation account: 

(1) Due to waived funding deficiency accumulated pricr to the 2014 plan year ................................ 9o(1) 

(2) Due to amortization bases extended and amortized using the interest rate under section 6621(b) of the Code: 

(a) Reconciliation outstanding balance as of valuation date ............................................................. ............. 9o(2)(a) 

(b) Reconciliation amount (line 9c(3) balance minus line 9o(2)(a)) .................................................. ............. 9o(2)(b) 

(3) Total as of valuation date ............................. ...................................................................................... . ............ 9o(3) 

10 Contr bution necessary to avoid an accumulated funding deficiency. (See instructions.) ........................ ............. 10 

11 Has a change been made in the actuarial assumptions fcr the current plan year? If "Yes," see instructions ....................... . 

IW17PF _931 

5015879 

~ Yes D No 

0 

0 

4 
Identity of Issue, Borrower

Lessor, or Similar Party Description of Investment Cost Current Value

Money Market Instruments

Federated Government Obligations Fund 458,879.56 shares 458,880 458,352

Federated Government Obligations Fund 127,096.50 shares 127,097 127,097

U S Government

Freddie Mac Gold 225,728.4655 shares dtd 10/1/13 3.50% due 10/1/43 227,245 236,380

Freddie Mac Gold 38,271.575 shares dtd 12/1/05 6.00% due 12/1/35 41,461 43,982

Freddie Mac Gold 29,625.38 shares dtd 9/1/07 5.50% due 9/1/22 34,065 32,606

Freddie Mac Gold 32,708.816 shares dtd 11/1/03 5.00% due 11/1/18 43,920 34,334

Freddie Mac Gold 268,034.272 shares dtd 11/1/14 4.0% due 11/1/44 285,038 286,252

Freddie Mac Gold 38,205.7847 shares dtd 6/1/10 4.50% due 6/1/25 44,229 41,149

Fannie Mae 70,664.5092 shares dtd 2/1/11 4.50% due 2/1/41 74,560 77,201

Fannie Mae 88,251.41 shares dtd 3/1/12 3.00% due 3/1/27 94,352 92,512

Fannie Mae 111,532.586 shares dtd 1/1/12 3.00% due 1/1/27 117,588 116,918

Fannie Mae 965.9513 shares dtd 5/1/03 7.00% due 12/1/17 5,772 993

Fannie Mae 48,910.4648 shares dtd 6/1/05 5.00% due 7/1/35 55,757 54,765

Fannie Mae 12,975.0176 shares dtd 6/1/08 5.50% due 7/1/22 13,450 14,218

Fannie Mae 125,000 shares dtd 10/20/11 1.375% due 11/15/16 126,586 126,559

Fannie Mae 184,475.2364 shares dtd 3/1/15 3.5% due 3/1/45 193,728 193,440

Fannie Mae 241,862.6725 shares dtd 07/1/13 3.0% due 7/1/43 239,057 246,587

Government Natl Mtg Assn 43,578.0451 shares dtd 12/1/97 7.00% due 11/15/27 61,376 46,377

Government Natl Mtg Assn 3,915.9365 shares dtd 2/1/98 7.00% due 2/15/28 12,360 3,943

Government Natl Mtg Assn 8,815.0157 shares dtd 4/1/00 8.00% due 4/15/30 45,361 10,953

United States Treas Bds 295,000 shares dtd 8/15/10 3.875% due 8/15/40 338,596 358,564

United States Treas Nts 500,000 shares dtd 12/31/10 2,125% due 12/31/15 511,424 506,445

United States Treas Bds 355,000 shares dtd 5/15/12 3.00% due 5/15/42 337,571 372,778

United States Treas Nts 200,000 shares dtd 2/18/14 2.75% due 2/15/24 206,784 212,468

United States Treas Nts 150,000 shares dtd 9/30/10 1.25% due 9/30/15 151,580 150,726

United States Treas Nts 150,000 shares dtd 02/15/14 3.625% due 2/15/44 175,493 176,684

IRON WORKERS LOCAL 17

PENSION FUND

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS HELD AT END OF YEAR

AS OF APRIL 30, 2015

- 13 -

IW17PF_932
Identity of Issue, Borrower

Lessor, or Similar Party Description of Investment Cost Current Value

IRON WORKERS LOCAL 17

PENSION FUND

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS HELD AT END OF YEAR

AS OF APRIL 30, 2015

Corporate Bonds

AMC Networks Inc 50,000 shares dtd 1/15/12 7.75% due 07/15/21 54,250 54,500

American Express Co 85,000 shares dtd 05/22/13 FL RT% due 05/22/18 85,683 85,128

Amkor Technologies Inc. 50,000 shares dtd 11/01/10 7.375% due 05/01/18 51,490 51,000

AT&T Inc. 65,000 shares dtd 05/4/15 3.40% due 05/15/25 64,808 64,314

Bank of America Corp. 80,000 shares dtd 5/2/08 5.65% due 5/1/18 91,144 88,470

Bear Stearns Co. 95,000 shares dtd 2/1/08 7.25% due 2/1/18 111,481 108,927

Boston Properties LP 50,000 shares dtd 4/19/10 5.625% due 11/15/20 49,946 58,037

Burlington Northern Santa Fe LLC 50,000 shares dtd 03/09/15 4.15% due 04/01/45 49,925 50,416

Chesapeake Energy Corp 75,000 shares dtd 4/24/14 FL RT% due 4/15/19 76,031 72,000

Cit Group Inc. 70,000 shares dtd 5/4/12 5.00% due 5/15/17 75,207 72,450

Constellation Brands Inc. 65,000 shares dtd 11/15/07 7.25% due 5/15/17 66,747 71,695

CSC Holdings LLC 35,000 shares dtd 1/13/09 8.625% due 2/15/19 35,402 40,534

Developers Diversified Realty Co 50,000 shares dtd 08/12/10 7.875% due 09/01/20 63,181 61,947

Dow Chemical Co. 55,000 shares dtd 5/13/09 8.55% due 5/15/19 74,395 68,289

Duke Energy Carolinas LLC 65,000 shares dtd 03/12/15 3.75% due 6/1/45 65,028 64,750

Enterprise Prods Operating LLC 55,000 shares dtd 5/20/10 5.20% due 9/1/20 61,948 62,377

Excelon Generation Co LLC 55,000 shares dtd 9/28/07 6.20% due 10/01/17 64,753 60,633

First Horizon National Corp. 50,000 shares dtd 12/20/10 5.375% due 12/15/15 49,835 51,276

General Elect Cap Corp 50,000 shares dtd 03/20/02 6.75% due 03/15/32 69,064 68,765

General Motors Financial Co Inc. 70,000 shares dtd 8/15/13 4.75% due 8/15/17 74,988 73,849

Goldman Sachs Group Inc 85,000 shares dtd 11/15/13 FL RT% due 11/15/18 86,018 85,939

HJ Heinz Co. 50,000 shares dtd 4/15/14 4.25% due 10/15/20 50,000 51,250

Hanesbrands Inc. 70,000 shares dtd 11/09/10 6.375% due 12/15/20 75,950 74,025

Hartford Financial Svcs Group Inc. 60,000 shares dtd 10/3/06 5.50% due 10/15/16 63,853 63,703

HCP Inc 65,000 shares dtd 11/19/12 2.625% due 2/01/20 64,824 65,308

Highwoods Realty LP 55,000 shares dtd 05/27/14 3.20% due 06/15/21 54,112 55,859

Hilton Worldwide Finance LLC 50,000 shares dtd 10/15/14 5.625% due 10/15/21 52,625 52,750

Jeffries Group Inc 50,000 shares dtd 4/13/11 5.125% due 4/13/18 54,900 52,904

Lazard LLC 10,000 shares dtd 6/21/07 6.85% due 6/15/17 10,797 10,998

Limited Brands Inc 60,000 shares dtd 07/17/07 6.90% due 07/15/17 68,400 66,075

- 14 -

IW17PF_933
Identity of Issue, Borrower

Lessor, or Similar Party Description of Investment Cost Current Value

IRON WORKERS LOCAL 17

PENSION FUND

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS HELD AT END OF YEAR

AS OF APRIL 30, 2015

Microsoft Corp 45,000 shares dtd 02/12/15 3.75% due 02/12/45 44,751 42,633

Morgan Stanley 75,000 shares dtd 3/22/12 4.75% due 3/22/17 82,937 79,606

Oneok Partners LP 50,000 shares dtd 03/20/15 3.8% due 3/15/20 50,100 51,537

Principal Financial Group Inc. 45,000 shares dtd 5/21/09 8.875% due 5/15/19 58,430 56,273

Prudential Financial Inc. 60,000 shares dtd 6/21/10 5.375% due 6/21/20 67,094 68,461

Rock-Tenn Co. 30,000 shares dtd 3/01/13 4.45% due 3/1/19 30,251 32,127

Sally Holdings LLC/Sally Cap Inc 65,000 shares dtd 5/15/12 6.875% due 11/15/19 72,150 68,738

SLM Corp 60,000 shares dtd 9/12/12 3.875% due 9/10/15 62,281 60,390

Synchrony Financial 40,000 shares dtd 8/11/14 3.00% due 08/15/19 39,906 40,803

Tesoro Corp. 70,000 shares dtd 9/27/12 4.25% due 10/1/17 72,125 72,450

Time Warner Cable Inc. 55,000 shares dtd 6/19/08 6.75% due 7/01/18 61,036 61,315

Verizon Communications Inc. 55,000 shares dtd 6/18/13 6.55% due 9/15/43 69,827 68,817

Wells Fargo & Co. 100,000 shares dtd 4/23/13 FL RT% due 4/23/18 101,098 100,793

Santander Drive Auto Receivables Trust 65,000 shares dtd 06/18/14 0.810% due 7/16/18 65,005 64,955

Wells Fargo Commercial Mortgage 97,782.2428 shares dtd 2/2/15 1.454% due 2/15/48 97,781 97,605

Wells Fargo Commercial Mortgage 50,000 shares dtd 3/1/15 4.139% due 2/15/48 51,499 52,346

Corporate Equities/Funds

Exeter Trust Company 1,067,478.33 shares Manning Napier Global Equity 10,302,708 11,347,295

Mellon Bank, N.A. 103,675.169 shares EB DV Broad Market SIF 10,609,046 24,212,195

PFPC Inc. 3,118.593 units AFL-CIO Housing Investment Trust 3,451,746 3,571,721

Loomis Sayles & Co. 373,650.255 units Loomis Sayles Core Plus Full Dis 4,076,566 6,893,847

Chevy Chase Trust Company 6,923.06 units ASB Real Estate Fund 4,358,273 7,897,643

PIMCO Funds 667678.867 units PIMCO Total Return Fund 7,183,062 7,190,901

Boyd Watterson 2,832.16 units GSA Fund, LP 3,037,710 3,062,948

Vanguard 112,295.074 units FTSE All-World ex-US Ist 10,283,097 11,621,362

- 15 -

IW17PF_934
Current Value

Number of Number of Expense of Asset on

Identity of Issue, Borrower Purchase Purchase Sale Selling Incd with Cost of Transaction Net

Lessor, or Similar Party Description of Investment Transactions Transactions Price Transaction Asset Date Gain/(Loss)

Single Transactions:

None

Series of Transactions in the Same Security:

KeyBank* Federated Prime Cash Obligations Institutional Shares Multiple 8,658,900 Multiple 8,655,116 - 8,655,116 8,655,116 - KeyBank * Federated Government Obligations Fund Inst'l Shares Multiple 5,089,217 Multiple 5,156,303 - 5,156,303 5,156,303 - Mellon Bank, N A EB DV Broad Market SIF 11 7,300,000 - 3,353,583 7,300,000 3,946,417

* A party-in-interest as defined by ERISA

IRON WORKERS LOCAL 17

PENSION FUND

SCHEDULE H, LINE 4j - SCHEDULE OF REPORTABLE TRANSACTIONS

FOR THE YEAR ENDED APRIL 30, 2015

- 16 -

IW17PF_935
EXHIBIT VII 

Statement of Actuarial Assumptions/Methods (Schedule MB, line 6) Mortality Rates: Healthy: RP-2000 Combined Healthy Blue Collar Mortality Table, projected 

the basic rates applied to the 2011 Plan year 

 Disabled (Retired Prior to May 1, 1997): RP-2000 Combined Healthy Blue Co

Table, projected generationally, with the basic rates applied to the 2011 Plan y

 Disabled (Retired On or After May 1, 1997): RP-2000 Disabled Retiree Morta

The RP-2000 Combined Healthy Blue Collar Mortality Table, projected gener

to the valuation date, reasonably reflects the mortality experience of the Plan adate. The mortality table was then further adjusted for future years using geneunder Scale AA to anticipate future mortality improvement. 

Termination Rates before Retirement: Rate (%) 

 Mortality1 Disability2 

Age Male Female 

20 0.03 0.02 0.15 25 0.04 0.02 0.15 30 0.07 0.03 0.15 35 0.11 0.05 0.18 40 0.13 0.08 0.27 45 0.17 0.13 0.54 50 0.23 0.19 1.20 55 0.40 0.27 2.55 60 0.79 0.49 5.22 

1Rates shown are those applicable for the current Plan year.2Disability rates cut out when the early retirement benefit is greater than the disabilit3Withdrawal rates cut out when eligible for early retirement.

IW17PF_936
Retirement Rates: 

Age 

Retirement 

Rates 

 58 5%  59 3%  60-61 15%  62-64 40%*  65 100% 

* Participants eligible for the Service Pension before age 65 are assumed to retire at a rate of 5

Description of Weighted Average Retirement Age: Age 62, determined as follows: The weighted average retirement age for each 

calculated as the sum of the product of each potential current or future retiremprobability of surviving from current age to that age and then retiring at that aother decrements. The overall weighted retirement age is the average of the inages based on all the active participants included in the May 1, 2014 actuarial 

Retirement Age for Inactive Vested Participants: Earliest age eligible for an unreduced benefit 

Future Benefit Accruals: 0.85 benefit credits per year per active participant included in the valuation 

Unknown Data for Participants: Same as those exhibited by participants with similar known characteristics. If 

participants are assumed to be male and beneficiaries in receipt of benefits are female. 

Definition of Active Participants: Those who have earned at least 1⁄4 benefit credit in the most recent plan year, a

accumulated at least one benefit credit, excluding those who have retired as of 

Percent Married: 80% 

Age and Gender of Spouse: Spouse of male participant is assumed to be four years younger than the partic

female participant is assumed to be four years older than the participant. If the not provided, the spouse is assumed to be the opposite gender of the participan

IW17PF_937
Benefit Election: Married participants elect the 50% joint and survivor or single life annuity, wh

valuable. Non-married participants elect the single life annuity. 

Net Investment Return: 7.50% - The net investment return assumption is a long-term estimate derived 

data, current and recent market expectations, and professional judgment. As p

building block approach was used that reflects inflation expectations and anticpremiums for each of the portfolio’s asset classes, as well as the Plan’s target 

Annual Administrative Expenses: $375,000, payable monthly, for the year beginning May 1, 2014 (equivalent to 

at the beginning of the year) 

Actuarial Value of Assets: At market value Actuarial Cost Method: Unit Credit Actuarial Cost Method. Normal Cost and Actuarial Accrued Liabi

on an individual basis and are allocated by benefits accrued. 

Benefits Valued: Unless otherwise indicated, includes all benefits summarized in Exhibit VIII. 

Current Liability Assumptions: 

Interest 3.61%, within the permissible range prescribed under IRC Section 431(c)(6)(E

Mortality Mortality prescribed under IRS Regulations 1.431(c)(6)-1 and 1.430(h)(3)-1: R

projected forward to the valuation year plus seven years for annuitants and 15 nonannuitants 

IW17PF_938
EXHIBIT III 

Schedule of Active Participant Data (Schedule MB, line 8b)The participant data is for the year ended April 30, 2014. 

Benefit Credits 

Age Total 1-4 5-9 10-14 15-19 20-24 25-29 30-34 35

Under 25 23 22 1 - - - - - - - - - - 

25 - 29 47 35 12 - - - - - - - - - - 30 - 34 75 38 23 12 2 - - - - - - 35 - 39 83 24 25 19 13 2 - - - - 40 - 44 95 11 14 24 22 16 8 - - 45 - 49 102 9 16 14 20 17 23 3 50 - 54 97 - - 2 13 13 16 24 11 55 - 59 96 1 1 1 4 9 13 12 60 - 64 13 - - 1 - - 3 2 - - - - 65 - 69 - - - - - - - - - - - - - - - - 

70 & over 1 1 - - - - - - - - - - - - 

Total 632 141 95 83 77 62 68 26 

Note: Excludes 39 participants with less than one benefit credit. 

IW17PF_939
*Segal Consulting 

July 29, 2014 

Internal Revenue Service 

Employee Plans Compliance Unit 

Group 7602 (SE:TEGE:EP) 

Room 1700 - 17th Floor 

230 South Dearborn Street 

Chicago, Illinois 60604 

To Whom It May Concern: 

As required by ERISA Section 305 and the Internal Revenue Code (JRC) Section 432, we have completed 1he actuarial status 

certification as of May 1, 2014 for the following plan: 

Name of Plan: Iron Workers Local 17 Pen.sion Fund 

Plan nwnber: EJN 51-0161467/ PN 001 

Plan sponsor: Board of Trustees, Iron Workers Loca/17 Pension Fund 

Address: 3250 Euclid Avenue, Cleveland, Ohio, 44115 

Phone number: 216.241.1086 

As of May 1, 2014, the Plan is in critical slatus. 

This certification also notifies the IRS that the Plan is making the scheduled progress in meeting the requirttments qf its 

Rehabilitation Plan, based on the annual standards of the Rehabilitation Plan. 

If you have any questions on the au ached certification, you may contact me at the following: 

Segal Consulting 

101 North Wacker Drive, Suite 500 

Chicago, Jllinois 60606 

Phone number: 312.984.8500 

Vice President and Consulting Actu01y 

Enrolled Actuary No. 14-05951 

IW17PF_940 
Part III

Part II

 box. If no, check the "No" box . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Decrease

Date:

u

Month Day Year

OMB No. 1210-0110

Increase No

 year that increased or decreased the value of benefits? If yes, check the appropriate

If this is a defined benefit pension plan, were any amendments adopted during this plan

Yes No N/A

authority providing automatic approval for the change or a class ruling letter, does the plan sponsor or plan

If a change in actuarial cost method was made for this plan year pursuant to a revenue procedure or other

 (enter a minus sign to the left of a negative amount)

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subtract the amount in line 6b from the amount in line 6a. Enter the result

Enter the amount contributed by the employer to the plan for this plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Enter the minimum required contr bution for this plan year (include any prior year accumulated funding

plan year, see instructions and enter the date of the ruling letter granting the waiver.

If a waiver of the minimum funding standard for a prior year is being amortized in this

Is the plan administrator making an election under Code section 412(d)(2) or ERISA section 302(d)(2)? . . . . . . . . . . . . . . . . . . . Yes No N/A

ERISA section 302, skip this Part)

year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Number of participants (living or deceased) whose benefits were distributed in a single sum, during the plan

EIN(s):

payors who paid the greatest dollar amounts of benefits):

Enter the EIN(s) of payor(s) who paid benefits on behalf of the plan to participants or beneficiaries during the year (if more than two, enter EINs of the two 

instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total value of distributions paid in property other than in cash or the forms of property specified in the

Plan sponsor's name as shown on line 2a of Form 5500

plan number

Name of plan Three-digit

For calendar plan year 2014 or fiscal plan year beginning and ending

6058(a) of the Internal Revenue Code (the Code).

Employee Retirement Income Security Act of 1974 (ERISA) and section

This schedule is required to be filed under section 104 and 4065 of the

For Paperwork Reduction Act Notice and OMB Control Numbers, see the instructions for Form 5500. Schedule R (Form 5500) 2014

9

8

If you completed line 6c, skip lines 8 and 9.

6c

c

b 6b

6a

6

If you completed line 5, complete lines 3, 9, and 10 of Schedule MB and do not complete the remainder of this schedule.

5

If the plan is a defined benefit plan, go to line 8.

4

3

3

Profit-sharing plans, ESOPs, and stock bonus plans, skip line 3.

2

1

1

All references to distributions relate only to payments of benefits during the plan year.

C D Employer Identification Number (EIN)

A B

u File as an attachment to Form 5500.

Inspection.

This Form is Open to Public

Amendments

Funding Information (If the plan is not subject to the minimum funding requirements of section of 412 of the Internal Revenue Code or

Part I Distributions

Retirement Plan Information

2014

(PN)

a

7 Will the minimum funding amount reported on line 6c be met by the funding deadline? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No N/A

12 Does the ESOP hold any stock that is not readily tradable on an established securities market? Yes No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(See instructions for definition of "back-to-back" loan.) Yes No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

b If the ESOP has an outstanding exempt loan with the employer as lender, is such loan part of a "back-to-back" loan?

Does the ESOP hold any preferred stock? Yes No . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Were unallocated employer securities or proceeds from the sale of unallocated securities used to repay any exempt loan? . . . . . . .

Part IV ESOPs (see instructions). If this is not a plan described under Section 409(a) or 4975(e)(7) of the Internal Revenue Code,

skip this Part.

10 Yes No

11 a

Both

Pension Benefit Guaranty Corporation

Employee Benefits Security Administration

Department of Labor

Internal Revenue Service

Department of the Treasury

(Form 5500)

SCHEDULE R

administrator agree with the change? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

deficiency not waived)

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

05/01/2014 04/30/2015

IRON WORKERS LOCAL 17 PENSION FUND

001

BOARD OF TRUSTEES OF IRON WORKERS 51-0161467

0

X

X

IW17PF_941
BOARD OF TRUSTEES OF IRON WORKERS 

Schedule R (Form 5500} 2014 

51-01614 67 

Page 2- II""] 

I Part V Additional Information for Multiemployer Defined Benefit Pension Plans 

13 Enter the following information for each employer that contr buted more than 5% of total contributions to the plan during the plan year (measured in 

dollars}. See instructions. Complete as many entries as needed to report all applicable employers. 

a Name of contributing employer FOREST CITY ERECTORS 

b EIN 34-0 8 65195 c Dollar amount contrbuted by employer 1812158 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box D 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month 0 4 Day 3 0 Year 2 018 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 10 . 0 0 

(2} Base unit measure:IXJ Hourly D Weekly I I Unit of production D Other (spedfy}: 

a Name of contributing employer KELLEY STEEL ERECTORS INC 

b EIN 34-0832455 c Dollar amount contrbuted by employer 1240400 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box D 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month 0 4 Day 3 0 Year 2 018 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 10 . 0 0 

(2} Base unit measure:IXJ Hourly D Weekly I I Unit of production D Other (spedfy}: 

a Name of contributing employer NATIONAL ENCLOSURE COMPANY 

b EIN 2 7-0 8 5 9 2 0 1 c Dollar amount contr buted by employer 7 7 7 7 53 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box D 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month 0 4 Day 3 0 Year 2 018 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 10 . 0 0 

(2} Base unit measure:[XJ Hourly D Weekly D Unit of production D Other (spedty): 

a Name of contributing employer RITTMAN INC . DBA MULL IRON 

b EIN 3 4 -13 812 6 6 c Dollar amount contr buted by employer 7 0 3 5 6 5 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box n 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month 04 Day 30 Year 20'!13 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 10 . 0 0 

(2} Base unit measure:[XJ Hourly D Weekly I I Unit of production D Other (spedty): 

a Name of contributing employer 

b EIN c Dollar amount contr buted by employer 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box D 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month Day Year 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 

(2} Base unit measure:O Hourly D Weekly I I Unit of production D Other (spedty): 

a Name of contributing employer 

b EIN c Dollar amount contr buted by employer 

d Date collective bargaining agreement expires (If employer contributes under more than one collective bargaining agreement, check box D 

and see instructions regarding required attachment Otherwise, enter the applicable date.} Month Day Year 

e Contribution rate information (If more than one rate applies, check this boxD and see instructions regarding required attachment Otherwise, 

complete lines 13e(1 } and 13e(2}.} 

(1} Contribution rate (in dollars and cents} 

(2} Base unit measure:O Hourly 0 Weekly 0 Unit of production 0 Other (spedfy}: 

IW17PF _942 
Schedule R (Form 5500) 2014 Page 3

14 Enter the number of participants on whose behalf no contr butions were made by an employer as an employer of the

participant for:

a

b

c

The current year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The plan year immediately preceding the current plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The second preceding plan year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14a

14b

14c

15b

15a

16a

16b

15 Enter the ratio of the number of participants under the plan on whose behalf no employer had an obligation to make an

employer contribution during the current plan year to:

a

b

The corresponding number for the plan year immediately preceding the current plan year

 . . . . . . . . . . . . . . . . . . . . .

The corresponding number for the second preceding plan year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16 Information with respect to any employers who withdrew from the plan during the preceding plan year:

a

b

Enter the number of employers who withdrew during the preceding plan year

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If line 16a is greater than 0, enter the aggregate amount of withdrawal liability assessed or estimated to be

assessed against such withdrawn employers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17 If assets and liabilities from another plan have been transferred to or merged with this plan during the plan year, check box and see instructions regarding 

supplemental information to be included as an attachment.

 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Part VI Additional Information for Single-Employer and Multiemployer Defined Benefit Pension Plans

18 If any liabilities to participants or their beneficiaries under the plan as of the end of the plan year consist (in whole or in part) of liabilities to such participants 

and beneficiaries under two or more pension plans as of immediately before such plan year, check box and see instructions regarding supplemental 

information to be included as an attachment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19 If the total number of participants is 1,000 or more, complete lines (a) through (c)

a

b

c

Enter the percentage of plan assets held as:

Stock: % Investment-Grade Debt: % High-Yield Debt: % Real Estate: % Other: %

Provide the average duration of the combined investment-grade and high-yield debt:

0-3 years 3-6 years 6-9 years 9-12 years 12-15 years 15-18 years 18-21 years 21 years or more

What duration measure was used to calculate line 19(b)?

Effective duration Macaulay duration Modified duration Other (specify):

BOARD OF TRUSTEES OF IRON WORKERS 51-0161467

1.00

0.97

0

91.0 8.0 1.0

X

X

IW17PF_943