Back to top

East Management Services 401k Plan


Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/14/2011
  • Net Assets as of 12/31/2017 $23,154,500
  • Plan Number1
  • Plan Type Multiple 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 12/31/2017

  • Active (Eligible) Participants568
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits227
  • Subtotal795
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total795
  • Total number of participants as of 01/01/2017757
  • Number of participants with account balances717
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address7777 NW Beacon Square Blvd.
  • CityBoca Raton
  • StateFL
  • Zip33487
  • Telephone(561) 826-3620
  • EIN27-4461439
  • Industry Code551112
  • Named AdministratorGary Hagerman

Audit Information

  • Audit StatusAudited
  • AuditorH2R CPA
  • Auditor EIN25-1031723
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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 $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? Yes
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? Yes


Income and Expense Statement

Income $7,851,166
Contributions $4,768,200
Cash Contributions $4,768,200
Cash from Employers $1,428,738
Cash from Participants $2,646,988
Others (including rollovers) $692,474
Noncash Contributions $0
Total Earnings on Investments $3,082,966
Total Interest $4,783
Interest-Bearing Cash $1,120
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $1
Interest from Other Investments $3,662
Total Dividends $827,351
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 $2,250,832
Other Income $0
Expenses $1,268,070
Total Benefit Payments $1,246,134
Directly to participants or beneficiaries, including direct rollovers $1,246,134
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 $21,936
Professional Fees $0
Contract Administrator Fees $850
Investment Advisory and management fees $4,286
Other Administrative Fees $16,800
Net Income $6,583,096
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $23,154,500 $16,571,404 39.73%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,428,738 $1,260,227 13.37%
Employer Contributions $1,428,738 $1,231,026 16.06%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $29,201 -100.00%
General Investments $0 $544,695 -100.00%
Interest-bearing cash $0 $544,695 -100.00%
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 $0 $408 -100.00%
Value of interest in common/collective trusts $0 $0 0.0%
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 $21,108,021 $14,766,074 42.95%
Value of funds held in insurance co. general account $617,741 $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 $23,154,500 $16,571,404 39.73%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Insitutional
  • Great-West Life & Annuity Insurance

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
Ubs Financial Svcs Ins Agcy Inc Other commissions Broker/ Advisor $0 $24,327 $24,327
Fidelity Investments Institutional Recordkeeping fees, Account maintenance fees Recordkeeper $16,635 $0 $16,635
Dunbar Bender & Zapf Inc Contract Administrator Contract Admin $0 $12,000 $12,000
Total $16,635 $36,327 $52,962

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Col/Acorn Intl Z - Columbia Mgt In Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Doubleline Tot Ret I - U.S. Bancor Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Invs Divrs Divd R5 - Invesco Inves Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Jh Dscpl Val Mdcp A - John Hancock Sub-transfer agency fees 0.55% $0
Fidelity Investments Institutional Rainier Sm/Mid Cap - U.S. Bancorp Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Royce Opportunity S - Boston Finan Sub-transfer agency fees 0.45% $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

Name Position Explanation
Sobol Veltum & Associates Auditor Sobol Veltum & Associates Merged Into H2R CPA Effective February 1, 2018. H2R CPA Is Now The Auditor of The Plan.



No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great-West Life & Annuity Insurance Company 44
EIN 84-0467907
Industry Code 68322
Contract Number 501578-01
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $617,741
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $712
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
John Sofranko Ubs Financial Svcs Ins Agcy Inc Sewickley, PA 15143 Insurance Agent or Broker $570 $0
Eric Werner Ubs Financial Svcs Ins Agcy Inc Sewickley, PA 15143 Insurance Agent or Broker $142 $0
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
Balance at the end of the previous year $0
Additions $1,476,906
Contributions Deposited during the year $706,426
Dividends and credits $0
Interest credited during the year $3,661
Transferred from separate account $766,819
Other $0
Total of Balance and Additions $1,476,906
Deductions $859,165
Disbursed from fund to pay benefits or purchase annuities during the year $1,816
Administration charge made by carrier $33
Transferred to Separate Account $857,316
Other $0
Balance at the end of the current year $617,741