SEC Filings

11-K
AECOM filed this Form 11-K on 06/14/2018
Entire Document
 

Table of Contents

 

D.                              INVESTMENT IN AECOM DC RETIREMENT PLANS VANGUARD MASTER TRUST

 

Beginning January 1, 2016, certain investment assets of the Plan are held in a custody account at The Vanguard Group and consists of an interest in an investment account of the AECOM DC Retirement Plans Vanguard Master Trust (“Vanguard Master Trust”), a master trust established by AECOM and is administered by the Trustee. The Vanguard Master Trust combines the Plan’s assets with the assets of two other retirement savings plans sponsored by AECOM for investment and administrative purposes. Although the assets of the three retirement plans are combined in the Vanguard Master Trust, the Trustee maintains supporting records for the purpose of allocating the net gain or loss of the investment funds to the participating plans. The net investment gain or loss of the Vanguard Master Trust investment funds is allocated by the Trustee to each participating plan based on that plan’s interest in each investment fund, as compared with the total interest of all the participating plans in each investment fund. Investment gains or losses are recognized as earned based on the terms of the investments and the period during which the investments are held by the Vanguard Master Trust. The Plan’s interest in the Vanguard Master Trust represents approximately 91.5% and 92.0% of the net assets of the Vanguard Master Trust at December 31, 2017 and 2016, respectively.

 

The following table presents the net assets of the Vanguard Master Trust as of December 31:

 

 

 

2017

 

2016

 

 

 

(expressed in $000)

 

Investments at fair value

 

 

 

 

 

Collective investment trusts

 

$

1,870,930

 

$

1,609,288

 

Mutual funds

 

1,060,424

 

882,233

 

 

 

 

 

 

 

Net assets of Vanguard Master Trust

 

$

2,931,354

 

$

2,491,521

 

 

 

 

 

 

 

Plan investment in Vanguard Master Trust

 

$

2,681,453

 

$

2,292,019

 

 

The following table shows the changes in net assets for the Vanguard Master Trust for the year ended December 31:

 

 

 

2017

 

 

 

(expressed in $000)

 

Changes in net assets:

 

 

 

Net appreciation in fair value of investments

 

$

430,062

 

Interest and dividend income

 

42,680

 

Total investment income

 

472,742

 

 

 

 

 

Net purchases (redemptions)

 

(33,793

)

Administrative expenses

 

(139

)

 

 

 

 

Increase in net assets

 

438,810

 

 

 

 

 

Net assets transferred in from affiliated plan

 

1,023

 

 

 

 

 

Net assets:

 

 

 

Beginning of year

 

2,491,521

 

End of year

 

$

2,931,354

 

 

The following tables set forth by level, within the fair value hierarchy, the Vanguard Master Trust assets at fair value:

 

 

 

As of December 31, 2017

 

 

 

Quoted Prices in
Active Markets for
Identical Assets
(Level 1)

 

Significant
Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Total
Fair Value

 

 

 

(expressed in thousands)

 

Mutual funds

 

$

1,060,424

 

$

 

$

 

$

1,060,424

 

Total investments in the fair value hierarchy

 

$

1,060,424

 

$

 

$

 

1,060,424

 

 

 

 

 

 

 

 

 

 

 

Investments measured at NAV

 

 

 

 

 

 

 

1,870,930

 

Total investments at fair value

 

 

 

 

 

 

 

$

2,931,354

 

 

9