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FORM 5500 DATA

Maryland Athletic Club 401k Savings Plan

Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan05/01/2002
  • Net Assets as of 12/31/2011 $1,000,467
  • 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
  • Plan Benefit ArrangementInsurance

Participant Information as of 12/31/2011

  • Active (Eligible) Participants285
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits9
  • Subtotal294
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total294
  • Total number of participants as of 01/01/2011123
  • Number of participants with account balances50
  • 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

  • Address110 W. Timonium Road
  • CityTimonium
  • StateMD
  • Zip21093
  • Telephone(410) 453-9111
  • EIN20-8027593
  • Industry Code713900
  • Named AdministratorLaura Salikof

Plan Administrator Information

  • Administrator NameMac Management, LLC
  • Address110 W. Timonium Road
  • CityTimonium
  • StateMD
  • Zip21093
  • Telephone(410) 453-9111
  • Administrator EIN20-8027593

Audit Information

  • Audit StatusAudited
  • AuditorGlass Jacobson
  • Auditor EIN52-1035214
  • 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.
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.
3B Self-Employed Plan Plan covering Self-Employed individuals.
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 $500,000
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 $15,721
Contributions $103,411
Cash Contributions $103,411
Cash from Employers $0
Cash from Participants $98,439
Others (including rollovers) $4,972
Noncash Contributions $0
Total Earnings on Investments $-87,690
Total Interest $470
Interest-Bearing Cash $121
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $307
Interest from Other Investments $42
Total Dividends $0
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 $-88,160
Other Income $0
Expenses $149,407
Total Benefit Payments $138,557
Directly to participants or beneficiaries, including direct rollovers $138,557
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 $10,850
Professional Fees $70
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $10,780
Net Income $-133,686
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $1,000,467 $1,134,153 -11.79%
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 $6,554 $8,116 -19.25%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $985,648 $1,119,167 -11.93%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $8,265 $6,870 20.31%
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 $1,000,467 $1,134,153 -11.79%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • John Hancock USA

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
John Hancock USA Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Other insurance wrap fees, Investment management, Float revenue, Shareholder servicing fees, Distribution (12b-1) fees $24 $0 $24
Total $24 $0 $24

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Oppenheimer Developing Mkt John Hancock USA DFE: Pooled Separate Account $194,322
Lifestyle Aggressive John Hancock USA DFE: Pooled Separate Account $130,443
Royce Opportunity John Hancock USA DFE: Pooled Separate Account $122,801
Lifestyle Growth John Hancock USA DFE: Pooled Separate Account $117,247
Lifestyle Balanced John Hancock USA DFE: Pooled Separate Account $93,067
The Growth Fund of America John Hancock USA DFE: Pooled Separate Account $81,116
Science & Technology Fund John Hancock USA DFE: Pooled Separate Account $46,094
Lifestyle Moderate John Hancock USA DFE: Pooled Separate Account $38,297
Intl Small Cap Fund John Hancock USA DFE: Pooled Separate Account $19,705
Energy John Hancock USA DFE: Pooled Separate Account $16,730
Franklin Balance Sheet John Hancock USA DFE: Pooled Separate Account $13,214
Real Est. Securities Fund John Hancock USA DFE: Pooled Separate Account $12,785
Mid Value Fund John Hancock USA DFE: Pooled Separate Account $10,608
Europacific Growth Fund John Hancock USA DFE: Pooled Separate Account $8,929
Mutual Global Discovery John Hancock USA DFE: Pooled Separate Account $8,907
Jpm Midcap Value Fund John Hancock USA DFE: Pooled Separate Account $7,602
Domini Social Equity John Hancock USA DFE: Pooled Separate Account $6,363
Oppenheimer Global John Hancock USA DFE: Pooled Separate Account $5,631
Blue Chip Growth Fund John Hancock USA DFE: Pooled Separate Account $5,250
High Yield Fund John Hancock USA DFE: Pooled Separate Account $4,625
Investment Company of America John Hancock USA DFE: Pooled Separate Account $3,929
Money Market Fund John Hancock USA DFE: Pooled Separate Account $3,738
Davis New York Venture John Hancock USA DFE: Pooled Separate Account $3,300
T. Rowe Price Health Sci John Hancock USA DFE: Pooled Separate Account $3,130
T. Rowe Price Equity Inc John Hancock USA DFE: Pooled Separate Account $3,089
Mid Cap Index Fund John Hancock USA DFE: Pooled Separate Account $2,869
Fidelity Contrafund John Hancock USA DFE: Pooled Separate Account $2,789
Pimco Total Return John Hancock USA DFE: Pooled Separate Account $2,696
T. Rowe Price Sci & Tech John Hancock USA DFE: Pooled Separate Account $2,407
Columbia Value & Restructuring John Hancock USA DFE: Pooled Separate Account $2,185
Financial Services Fund John Hancock USA DFE: Pooled Separate Account $1,991
Washington Mutual Investors John Hancock USA DFE: Pooled Separate Account $1,864
Capital Appreciation Fund John Hancock USA DFE: Pooled Separate Account $1,805
500 Index Fund John Hancock USA DFE: Pooled Separate Account $1,564
Templeton World John Hancock USA DFE: Pooled Separate Account $1,171
Franklin Small-Mid Growth John Hancock USA DFE: Pooled Separate Account $1,012
Mutual Beacon John Hancock USA DFE: Pooled Separate Account $796
Pimco All Asset John Hancock USA DFE: Pooled Separate Account $711
T. Rowe Price Sml Cap Val John Hancock USA DFE: Pooled Separate Account $497
Small Cap Growth Index John Hancock USA DFE: Pooled Separate Account $370
Large Cap Value Fund John Hancock USA DFE: Pooled Separate Account $0
Lm Western Asset Glb High Yield John Hancock USA DFE: Pooled Separate Account $0
Total $985,649

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock USA 50
EIN 01-0233346
Industry Code 65838
Contract Number 17255
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $8,265
Value in Separate Accounts at Year End $985,648
Insurance Fees and Commissions $5,767
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Salomon Smith Barney Investment Manager/Adviser $5,447 $0 BROKER COMMISSION
Cdm Retirement Consultants, Inc. 300 East Joppa Road Towson, MD 21286 Third Party Administrator $0 $157 TPA COMPENSATION
Morgan Stanley Smith Barney 2000 Westchester Avenue Purchase, NY 10577 Investment Company/Mutual Fund $0 $116 OTHER ALLOWANCES
West Pension Solutions, LLC 1001 Cromwell Bridge Rd Towson, MD 21286 Third Party Administrator $0 $47 TPA COMPENSATION
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 $6,871
Additions $2,722
Contributions Deposited during the year $1,121
Dividends and credits $0
Interest credited during the year $120
Transferred from separate account $1,481
Other $0
Total of Balance and Additions $9,593
Deductions $1,370
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $48
Transferred to Separate Account $1,322
Other $0
Balance at the end of the current year $8,223