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        <ExclusionAmt>0</ExclusionAmt>
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      <ProgramServiceRevenueGrp>
        <Desc>PARTICIPANT CONTRIBUTIONS</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>290025</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>290025</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>0</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>32964788</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>584478</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>0</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>584478</ExclusionAmt>
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      <IncmFromInvestBondProceedsGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
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      <RoyaltiesRevenueGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
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        <PersonalAmt>0</PersonalAmt>
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        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
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      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>12059138</SecuritiesAmt>
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      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>12046532</SecuritiesAmt>
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      <GainOrLossGrp>
        <SecuritiesAmt>12606</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>12606</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>0</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>12606</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <FundraisingGrossIncomeAmt>0</FundraisingGrossIncomeAmt>
      <FundraisingDirectExpensesAmt>0</FundraisingDirectExpensesAmt>
      <NetIncmFromFundraisingEvtGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
      </NetIncmFromFundraisingEvtGrp>
      <GamingGrossIncomeAmt>0</GamingGrossIncomeAmt>
      <GamingDirectExpensesAmt>0</GamingDirectExpensesAmt>
      <NetIncomeFromGamingGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
      </NetIncomeFromGamingGrp>
      <GrossSalesOfInventoryAmt>0</GrossSalesOfInventoryAmt>
      <CostOfGoodsSoldAmt>0</CostOfGoodsSoldAmt>
      <NetIncomeOrLossGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
      </NetIncomeOrLossGrp>
      <OtherRevenueTotalAmt>0</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>33561872</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>32964788</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>597084</ExclusionAmt>
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      <GrantsToDomesticOrgsGrp>
        <TotalAmt>0</TotalAmt>
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      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>0</TotalAmt>
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      <ForeignGrantsGrp>
        <TotalAmt>0</TotalAmt>
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      <BenefitsToMembersGrp>
        <TotalAmt>29574304</TotalAmt>
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      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>0</TotalAmt>
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      <CompDisqualPersonsGrp>
        <TotalAmt>0</TotalAmt>
      </CompDisqualPersonsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>56998</TotalAmt>
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      <PensionPlanContributionsGrp>
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      <OtherEmployeeBenefitsGrp>
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      <PayrollTaxesGrp>
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      <FeesForServicesManagementGrp>
        <TotalAmt>237382</TotalAmt>
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      <FeesForServicesLegalGrp>
        <TotalAmt>141884</TotalAmt>
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      <FeesForServicesAccountingGrp>
        <TotalAmt>82995</TotalAmt>
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      <FeesForServicesLobbyingGrp>
        <TotalAmt>0</TotalAmt>
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      <FeesForServicesProfFundraising>
        <TotalAmt>0</TotalAmt>
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      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>62588</TotalAmt>
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        <TotalAmt>162361</TotalAmt>
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      <AdvertisingGrp>
        <TotalAmt>0</TotalAmt>
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      <OfficeExpensesGrp>
        <TotalAmt>86867</TotalAmt>
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      <InformationTechnologyGrp>
        <TotalAmt>0</TotalAmt>
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      <RoyaltiesGrp>
        <TotalAmt>0</TotalAmt>
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      <OccupancyGrp>
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      <PymtTravelEntrtnmntPubOfclGrp>
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      <ConferencesMeetingsGrp>
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      <InterestGrp>
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      <PaymentsToAffiliatesGrp>
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      <InsuranceGrp>
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      <OtherExpensesGrp>
        <Desc>PCORI FEES</Desc>
        <TotalAmt>11172</TotalAmt>
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      <OtherExpensesGrp>
        <Desc>BANK FEES</Desc>
        <TotalAmt>8045</TotalAmt>
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      <OtherExpensesGrp>
        <Desc>MISCELLANEOUS</Desc>
        <TotalAmt>19293</TotalAmt>
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      <TotalFunctionalExpensesGrp>
        <TotalAmt>30510908</TotalAmt>
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      <CashNonInterestBearingGrp>
        <BOYAmt>4689603</BOYAmt>
        <EOYAmt>3939977</EOYAmt>
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      <SavingsAndTempCashInvstGrp>
        <BOYAmt>2853398</BOYAmt>
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      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
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      <AccountsReceivableGrp>
        <BOYAmt>7060769</BOYAmt>
        <EOYAmt>4004378</EOYAmt>
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      <ReceivablesFromOfficersEtcGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
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      <RcvblFromDisqualifiedPrsnGrp>
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        <EOYAmt>0</EOYAmt>
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      <OthNotesLoansReceivableNetGrp>
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        <EOYAmt>0</EOYAmt>
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      <InventoriesForSaleOrUseGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
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      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>346259</EOYAmt>
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      <LandBldgEquipCostOrOtherBssAmt>74214</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>2292</LandBldgEquipAccumDeprecAmt>
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        <BOYAmt>0</BOYAmt>
        <EOYAmt>71922</EOYAmt>
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        <BOYAmt>0</BOYAmt>
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      <InvestmentsProgramRelatedGrp>
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        <EOYAmt>0</EOYAmt>
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      <TotalAssetsGrp>
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      <AccountsPayableAccrExpnssGrp>
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      <DeferredRevenueGrp>
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        <EOYAmt>0</EOYAmt>
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      <TaxExemptBondLiabilitiesGrp>
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        <EOYAmt>0</EOYAmt>
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      <EscrowAccountLiabilityGrp>
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        <EOYAmt>0</EOYAmt>
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        <BOYAmt>13872346</BOYAmt>
        <EOYAmt>15491810</EOYAmt>
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      <TotalLiabilitiesGrp>
        <BOYAmt>14369002</BOYAmt>
        <EOYAmt>15824181</EOYAmt>
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      <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
      <CapStkTrPrinCurrentFundsGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </CapStkTrPrinCurrentFundsGrp>
      <PdInCapSrplsLandBldgEqpFundGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
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      <RtnEarnEndowmentIncmOthFndsGrp>
        <BOYAmt>13264563</BOYAmt>
        <EOYAmt>17073545</EOYAmt>
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      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>13264563</BOYAmt>
        <EOYAmt>17073545</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>27633565</BOYAmt>
        <EOYAmt>32897726</EOYAmt>
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      <ReconcilationRevenueExpnssAmt>3050964</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>758018</NetUnrlzdGainsLossesInvstAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
    </IRS990>
    <IRS990ScheduleD documentId="IRS990ScheduleD">
      <ArtPublicExhibitionAmountsGrp />
      <HeldWorksArtGrp />
      <CYMinus3YrEndwmtFundGrp />
      <CYMinus4YrEndwmtFundGrp />
      <LandGrp />
      <BuildingsGrp />
      <LeaseholdImprovementsGrp />
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>74214</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>2292</DepreciationAmt>
        <BookValueAmt>71922</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp />
      <TotalBookValueLandBuildingsAmt>71922</TotalBookValueLandBuildingsAmt>
      <FederalIncomeTaxLiabilityAmt>0</FederalIncomeTaxLiabilityAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>ACCUMULATED ELIGIBILITY CREDITS</Desc>
        <Amt>12531161</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>CLAIMS INCURRED BUT NOT REPORTED</Desc>
        <Amt>2960649</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>15491810</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>34319890</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>758018</NetUnrealizedGainsInvstAmt>
      <RevenueNotReportedAmt>758018</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>33561872</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>33561872</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>30510908</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>30510908</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>30510908</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE PLAN HAS TAKEN A TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A TAX AUTHORITY. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER; THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART VI, LINE 11A:</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 WAS REVIEWED BY THE plan's CHAIR AND SECRETARY and if there are any questions or comments, such questions or comments WILL be communicated to the FULL BOARD. PART VI, LINE 12C: THE BOARD OF TRUSTEES AND ALL PROFESSIONALS ARE TO CONTACT LEGAL COUNSEL IF ANY POTENTIAL CONFLICTS ARISE. PART VI, LINE 19: THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE PLAN OFFICE UPON REQUEST. PART VII, SECTION A: COMPENSATION PAID TO TRUSTEES EMPLOYED BY NOT-FOR-PROFIT ORGANIZATIONS IS PROPERLY REPORTED ON THE EMPLOYER'S ANNUAL TAX FILINGS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>PIPE INDUSTRY ADMINISTRATION CO LLC</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>1391 SPEER BLVD STE 450</AddressLine1Txt>
          <CityNm>DENVER</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>80204</ZIPCd>
        </USAddress>
        <EIN>842365095</EIN>
        <PrimaryActivitiesTxt>ADMIN CO.</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
        <TotalIncomeAmt>0</TotalIncomeAmt>
        <EndOfYearAssetsAmt>0</EndOfYearAssetsAmt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>YES</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>CO PIPE IND ANNUITY AND SALARY DEF TRUST</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>1391 Speer Blvd STE 450</AddressLine1Txt>
          <CityNm>DENVER</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
          <ZIPCd>80204</ZIPCd>
        </USAddress>
        <EIN>846041803</EIN>
        <PrimaryActivitiesTxt>PENSION PLAN</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CO</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>401</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>N/A</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>NA</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>false</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedOrgTxblPartnershipGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>SEE SUPP INFO</BusinessNameLine1Txt>
        </RelatedOrganizationName>
      </IdRelatedOrgTxblPartnershipGrp>
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1Txt>SEE SUPP INFO</BusinessNameLine1Txt>
        </RelatedOrganizationName>
      </IdRelatedOrgTxblCorpTrGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>true</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>true</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>true</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>true</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART III, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS A</FormAndLineReferenceDesc>
        <ExplanationTxt>PARTNERSHIP: PLEASE CONTACT THE ADMINISTRATIVE OFFICE FOR SPECIFIC QUESTIONS. PART IV, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS A CORPORATION OR TRUST: PLEASE CONTACT THE ADMINISTRATIVE OFFICE FOR SPECIFIC QUESTIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleR>
  </ReturnData>
</Return>