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Home>401K Directory>Bureau Employees System For Thrift Best Plan>Form 5500

Pennsylvania Compensation Rating Bureau

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information
FORM 5500 DATA

Bureau Employees System for Thrift (Best) Plan

Form 5500 Year:

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1977
  • Net Assets as of 12/31/2019 $18,084,520
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants105
  • Retired or separated participants receiving benefits11
  • Other retired or separated participants entitled to future benefits8
  • Subtotal124
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total125
  • Total number of participants as of 01/01/2019121
  • Number of participants with account balances122
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address30 S 17th St Ste 1500
  • CityPhiladelphia
  • StatePA
  • Zip19103-4007
  • Telephone(215) 320-4414
  • EIN23-0958260
  • Industry Code524290
  • Named AdministratorJohn Panczner
  • Named Plan SponsorJohn Panczner

Audit Information

  • Audit StatusAudited
  • AuditorRainer & Company
  • Auditor EIN23-2183936
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $1,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement
Income $4,508,944
Contributions $1,024,680
Cash Contributions $1,024,680
Cash from Employers $255,181
Cash from Participants $589,957
Others (including rollovers) $179,542
Noncash Contributions $0
Total Earnings on Investments $3,484,264
Total Interest $15,796
Interest-Bearing Cash $5,072
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $10,724
Interest from Other Investments $0
Total Dividends $867,778
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $48,405
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $2,552,285
Other Income $0
Expenses $2,665,996
Total Benefit Payments $2,664,515
Directly to participants or beneficiaries, including direct rollovers $2,664,515
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $1,481
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $1,481
Net Income $1,842,948
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $18,084,520 $16,241,572 11.35%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $245,198 $379,852 -35.45%
Interest-bearing cash $245,198 $379,852 -35.45%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $205,275 $239,781 -14.39%
Value of interest in common/collective trusts $2,299,970 $3,019,277 -23.82%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $15,334,077 $12,602,662 21.67%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $18,084,520 $16,241,572 11.35%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Inst Operation

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Fidelity Investments Inst Operation Participant loan processing, Recordkeeping fees, Account maintenance fees Recordkeeper $1,481 $0 $1,481
Total $1,481 $0 $1,481

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Inst Operation Jpm Smrtret 2035 - I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2030 I - Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2025 - I 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2020 - I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret Inc I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Wf Spl Md Cp Val Adm Sub-transfer agency fees 0.35% $0
Fidelity Investments Inst Operation Pimco Tot Return Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Nwd Gnv Mdcp Gr A - Sub-transfer agency fees 0.40% $0
Fidelity Investments Inst Operation Jpm Smrtret 2055 - I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2050 -I 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2045 - I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jpm Smrtret 2040 - I Sub-transfer agency fees 0.25% $0
Fidelity Investments Inst Operation Jh Dscpl Val Mdcp A - 0.55% $0
Fidelity Investments Inst Operation Jh Triton T - Janus Services, LLC Sub-transfer agency fees 0.35% $0
Fidelity Investments Inst Operation Glenmede Lg Cap Core - State Sub-transfer agency fees 0.40% $0
Fidelity Investments Inst Operation Crln E Mid Cap Gr A Sub-transfer agency fees 0.50% $0
Fidelity Investments Inst Operation Cb Small Cap Fi-Bny Mellon Servicin Sub-transfer agency fees 0.40% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Managed Income Portfolio Fidelity Investments DFE: Common/Collective Trust $2,299,970
Total $2,299,970

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.