UMB Retirement Master Trust |
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| UMB Retirement Master Trust | 3. UMB Retirement Master Trust
As of January 1, 2025, the UMB Retirement Master Trust (the Master Trust) was dissolved and the Plan no longer has an interest in the Master Trust. Prior to January 1, 2025, the assets of the Plan and the ESOP were combined into the Master Trust, a master trust established by the Company. Use of the Master Trust permits the commingling of Plan assets with the assets of the ESOP for investment and administrative purposes. At December 31, 2024, the Plan’s assets related to its share of the allocated net assets of the Master Trust. Although assets of both plans were commingled in the Master Trust, the Trustee maintained supporting records for the purpose of allocating investment income or loss to the participating plans. The net investment income or loss of the investment assets was allocated by the Trustee to each participating plan on a basis proportionate to the Plan’s share of net assets. All other activity was recorded in the Plan based on the elections of the individual participants in the Plan.
The following table presents the net assets of the Master Trust and the Plan’s interest in the net assets of the Master Trust at December 31, 2024:
Income of the Master Trust included net change in the fair value of investments and dividend and interest income. Net change in the fair value of its investments included the Master Trust's gains and losses on investments bought and sold, as well as held during the year.
The following is a summary of net investment income from the Master Trust for the year ended December 31, 2024:
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