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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2001
  • Net Assets as of 12/31/2019 $15,723,345
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants112
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits19
  • Subtotal132
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total132
  • Total number of participants as of 01/01/2019124
  • Number of participants with account balances126
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested3

Expenses

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

Sponsor Information

  • Telephone(787) 866-8117
  • EIN66-0547978
  • Industry Code541990
  • Named AdministratorNatalia E Schonfeld
  • Named Plan SponsorNatalia E Schonfeld

Audit Information

  • Audit StatusAudited
  • AuditorCrowe Pr Psc
  • Auditor EIN66-0539048
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
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.
3C Plan not intended to be qualified A plan not intended to be qualified under Code sections 401, 403, or 408.
3I Employer Securities Limitations Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

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? Yes $22,078
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? Yes
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 $4,474,216
Contributions $1,279,194
Cash Contributions $1,279,194
Cash from Employers $534,742
Cash from Participants $744,452
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $3,195,022
Total Interest $54,641
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $54,641
Interest from Other Investments $0
Total Dividends $630,458
Preferred Stock $0
Common Stock $178,001
Rents $0
Net gain (loss) on sale of assets $129,188
Aggregate Proceeds $989,624
Aggregate Carrying Amount $860,436
Total Unrealized Appreciation (depreciation) of assets $1,719,893
Real Estate $0
Other $1,719,893
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 $660,842
Other Income $0
Expenses $91,001
Total Benefit Payments $58,474
Directly to participants or beneficiaries, including direct rollovers $58,474
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $14,129
Interest expense $0
Total Administrative Expenses $18,398
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $18,398
Net Income $4,383,215
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 $15,723,345 $11,340,130 38.65%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $32,573 $0 0.0%
Employer Contributions $10,495 $0 0.0%
Participant Contributions $22,078 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $8,439 $8,593 -1.79%
Interest-bearing cash $8,439 $8,593 -1.79%
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 $730,478 $638,746 14.36%
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 $8,104,564 $5,903,495 37.28%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $6,847,291 $4,789,296 42.97%
Employer Securities $6,847,291 $4,789,296 42.97%
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 $15,723,345 $11,340,130 38.65%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • American Funds
  • Dreyfus
  • Federated Investment Management
  • Fidelity Investments Inst
  • Invesco
  • Mfs Distributors Inc
  • Pimco Funds Dist Inst
  • Vanguard Marketing Corp

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
T Rowe Price Rps Inc Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees NONE $18,398 $0 $18,398
Total $18,398 $0 $18,398

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
T Rowe Price Rps Inc Invesco Mid Cap Core Equity A Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.5% $0
T Rowe Price Rps Inc Federated Ttl Ret Govt Bd Serv Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.3% $0
T Rowe Price Rps Inc Pimco Total Return R Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.5% $0
T Rowe Price Rps Inc Bny Mellon Research Growth Inc A Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.4% $0
T Rowe Price Rps Inc Fidelity Adv Mortgage Sec M Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.5% $0
T Rowe Price Rps Inc Fidelity Adv Shrt Term Bond M Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.4% $0
T Rowe Price Rps Inc Mfs Total Return A Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.25% $0
T Rowe Price Rps Inc American Fnd Europac Gr R3 Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.65% $0
T Rowe Price Rps Inc Mfs Value A Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.25% $0
T Rowe Price Rps Inc Federated Equity Income A Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees Fee for Shareholder Servicing Based Upon 0.35% $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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.