Plan Performance and 2019 Annual Report
Plan Performance and 2019 Annual Report
Every day, our members inspire us to strive for excellence as we deliver on the pension promise. Whether we’re investing, providing service, or advocating for retirement security, our commitment to our members comes first.
We invite you to learn more about our highlights for the year.
2019 Annual Report
HOOPP’s Annual Report provides full details of our financial
results.
Download the PDF
>
FUNDED STATUS
The Plan is currently more than fully funded, meaning it has more assets than it owes in current and future pension benefits. While the Plan is currently in a stable position, volatile markets can quickly change the funded status of the Plan. We constantly
adjust our investment strategies to changing market conditions to guard against potential downturns.
|
Funded status
|
2019
|
2018
|
Year-over-year change
|
|
Ratio of net assets to pension obligation
|
128%
|
121%
|
7%
|
|
Ratio of smoothed assets to pension obligation
|
119%
|
121%
|
-2%
|
The graph below illustrates the growth of our net assets.
Our past investment returns have kept the Plan sustainable and fully funded, while keeping contribution rates affordable, for our members and their employers. HOOPP has been able to maintain the same contribution rates since 2004.
| |
2019
|
2018
|
10-Year
|
20-Year
|
|
Total return
|
17.14%
|
2.17%
|
11.38%
|
8.55%
|
|
Bench mark
|
15.06%
|
0.01%
|
8.85%
|
6.84%
|
|
Value-added return
|
2.08%
|
2.16%
|
2.53%
|
1.71%
|
Further contributing to the goal of meeting the pension promise, our investment strategies are implemented in a cost-efficient manner, with total investment expenses representing approximately 0.18% of net assets in 2019.
This document provides a simplified overview of HOOPP's benefits based on the terms of the HOOPP Plan Text at the time of publication. From time to time, HOOPP may amend the HOOPP Plan Text. In cases where the information provided in this document differs from that contained in the HOOPP Plan Text, the HOOPP Plan Text will govern. More details, including the full HOOPP Plan Text and a complete description of the Plan and its benefits, can be found on hoopp.com.