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Overview

Plan Information

  • Plan Year06/01/2017 — 05/31/2018
  • Date of Plan06/01/1980
  • Net Assets as of 05/31/2018 $53,403,717
  • Plan Number2
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • 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 05/31/2018

  • Active (Eligible) Participants688
  • Retired or separated participants receiving benefits10
  • Other retired or separated participants entitled to future benefits32
  • Subtotal730
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits12
  • Total742
  • Total number of participants as of 06/01/2017684
  • Number of participants with account balances742
  • 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

  • Address10 Technology Dr
  • CityWallingford
  • StateCT
  • Zip06492-1955
  • Telephone(800) 446-8646
  • EIN04-2733497
  • Industry Code238210
  • Named AdministratorThomas Schmitt
  • Named Plan SponsorDan D Alma

Audit Information

  • Audit StatusAudited
  • AuditorNicholas Lapier CPA Pc
  • Auditor EIN32-0048525
  • 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.
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.

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 $6,805,067
Contributions $2,865,238
Cash Contributions $2,865,238
Cash from Employers $2,865,238
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $3,939,829
Total Interest $799,407
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $33,823
Interest from Other Investments $765,584
Total Dividends $349,142
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 $2,791,280
Other Income $0
Expenses $2,613,413
Total Benefit Payments $2,381,281
Directly to participants or beneficiaries, including direct rollovers $2,381,281
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 $232,132
Professional Fees $20,751
Contract Administrator Fees $30,900
Investment Advisory and management fees $159,439
Other Administrative Fees $21,042
Net Income $4,191,654
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

05/31/2018 05/31/2017 Change YOY
Total Assets $53,403,717 $49,212,063 8.52%
Total noninterest-bearing cash $461,053 $250,603 83.98%
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 $671,550 $723,753 -7.21%
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 $26,533,401 $22,690,207 16.94%
Value of funds held in insurance co. general account $25,737,713 $25,547,500 0.74%
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 $53,403,717 $49,212,063 8.52%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions
  • Charles Schwab & Co Inc.

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Recordkeeper $93,687 $0 $93,687
Ibew Local No. 7 Annuity Plan Administrator, Other services Plan Sponsor $65,780 $0 $65,780
Zenith American Solutions Plan Administrator Plan Administrator $30,900 $0 $30,900
Krakow & Souris Legal Attorney $11,585 $0 $11,585
Nicholas Lapier CPA Pc Accounting (including auditing) Auditor $9,166 $0 $9,166
Charles Schwab & Co Inc. Securities brokerage, Securities brokerage commissions and fees Securities Broker $139 $0 $139
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $211,257 $0 $211,257

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Charles Schwab & Co Inc. Riverpark Funds Securities brokerage, Securities brokerage commissions and fees Rate of 0.40% Average Daily Balance of Assets $0
National Financial Services Pioneer Securities brokerage, Securities brokerage commissions and fees Revenue Sharing $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

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 742
EIN 36-6071399
Industry Code 70688
Contract Number MT50771
Contract Year 06/01/2017 — 05/31/2018
Value in General Account at Year End $25,737,713
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 Guaranteed Investment
Balance at the end of the previous year $25,547,500
Additions $2,991,571
Contributions Deposited during the year $711,624
Dividends and credits $0
Interest credited during the year $759,140
Transferred from separate account $1,253,606
Other $267,201
Total of Balance and Additions $28,539,071
Deductions $2,801,358
Disbursed from fund to pay benefits or purchase annuities during the year $1,926,238
Administration charge made by carrier $87,643
Transferred to Separate Account $567,813
Other $219,664
Balance at the end of the current year $25,737,713