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FORM 5500 DATA

Panolam Industries International, Inc. 401k Retirement

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan04/01/1999
  • Net Assets as of 12/31/2018 $33,272,389
  • Plan Number1
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants669
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits117
  • Subtotal789
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total789
  • Total number of participants as of 01/01/2018856
  • Number of participants with account balances665
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • AddressOne Corporate Drive Suite 725
  • CityShelton
  • StateCT
  • Zip06484
  • Telephone(203) 925-1556
  • EIN52-2064043
  • Industry Code321900
  • Named AdministratorSharon Metz
  • Named Plan SponsorSharon Metz

Audit Information

  • Audit StatusAudited
  • AuditorBeers, Hamerman, Cohen and Burger P
  • Auditor EIN47-2517893
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
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.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $5,000,000
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 $1,934,435
Contributions $2,784,862
Cash Contributions $2,784,862
Cash from Employers $922,482
Cash from Participants $1,653,800
Others (including rollovers) $208,580
Noncash Contributions $0
Total Earnings on Investments $-850,427
Total Interest $277,454
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $31,239
Interest from Other Investments $246,215
Total Dividends $1,687,832
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 $0
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 $-2,815,713
Other Income $0
Expenses $5,479,150
Total Benefit Payments $5,446,839
Directly to participants or beneficiaries, including direct rollovers $5,446,839
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 $32,311
Professional Fees $0
Contract Administrator Fees $21,286
Investment Advisory and management fees $10,900
Other Administrative Fees $125
Net Income $-3,544,715
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $33,272,389 $36,817,104 -9.63%
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 $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
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 $504,600 $718,002 -29.72%
Value of interest in common/collective trusts $0 $28 -100.00%
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 $25,329,810 $29,673,107 -14.64%
Value of funds held in insurance co. general account $7,437,979 $6,425,967 15.75%
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 $33,272,389 $36,817,104 -9.63%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

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
Global Retirement Partners LLC Investment advisory (plan) Investment Advisor $0 $90,777 $90,777
Massachusetts Mutual Life Ins. Co. Other services, Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Soft dollars commissions, Other investment fees and expenses Contract Administrator $32,311 $0 $32,311
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Federated Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Goldman Sachs Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Harris Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Ivy Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
John Hancock Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Jp Morgan Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Lord Abbett Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Mfs Investment Management Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Oppenheimer Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Pimco Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Total $32,311 $90,777 $123,088

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Global Retirement Partners LLC Massachusetts Mutual Life Ins. Co. Investment advisory (plan) Plan Related Expenses $90,777
Massachusetts Mutual Life Ins. Co. Sagic Diversified Bond II Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Mfs Diversified Income Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Mfs Global Equity Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Mfs Utilities Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Prem U.S. Govt Mny Mkt Fd Barings Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Mm S&P 500 Index Fd Northern Trust Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Trp Ls Blue Chip Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Trpls Blue Chip Growth Fund Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Ivy Mid Cap Growth Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. American Fds Incm Fd of America Fd Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Lord Abbett High Yield Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Lord Abbett Short Duration Incm Fd Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Goldman Sachs Mid Cap Value Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Federated Capital Preservation Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Oppenheimer Real Estate Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Strategic Bond Fd Western Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Jp Morgan Small Cap Equity Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Jp Morgan Us Equity Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Millennium Trust Company, LLC Other services Referral Fee $0
Massachusetts Mutual Life Ins. Co. Mm Rsl 2000 Smcap Indx Fd Nrtn Tr Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Oakmark International Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Amer Funds Wash Mutual Invs Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. John Hancock Balanced Fund Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Total Return Fund Pimco Distribution (12b-1) fees, Sub-transfer agency fees Basis Points * Plan Assets $0
American Funds American Fds Incm Fd of America Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Amer Funds Wash Mutual Invs Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Federated Federated Capital Preservation Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Goldman Sachs Goldman Sachs Mid Cap Value Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Harris Oakmark International Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Ivy Funds Ivy Mid Cap Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
John Hancock John Hancock Balanced Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jp Morgan Small Cap Equity Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jp Morgan Us Equity Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Lord Abbett Lord Abbett High Yield Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Lord Abbett Lord Abbett Short Duration Incm Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Mfs Investment Management Mfs Diversified Income Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Mfs Investment Management Mfs Global Equity Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Mfs Investment Management Mfs Utilities Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Oppenheimer Oppenheimer Real Estate Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Pimco Funds Total Return Fund Pimco Investment management fees paid indirectly by plan Basis Points * Plan Assets $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
Mf-3032 Federated Capital Preservat Federated DFE: Common/Collective Trust $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 789
EIN 04-1590850
Industry Code 65935
Contract Number MR 61868
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract GROUP ANNUITY CONTRACT
Balance at the end of the previous year $6,425,967
Additions $1,922,374
Contributions Deposited during the year $278,325
Dividends and credits $0
Interest credited during the year $246,215
Transferred from separate account $1,302,347
Other $95,487
Total of Balance and Additions $8,348,341
Deductions $910,362
Disbursed from fund to pay benefits or purchase annuities during the year $836,268
Administration charge made by carrier $5,876
Transferred to Separate Account $0
Other $68,218
Balance at the end of the current year $7,437,979