Back to top
FORM 5500 DATA

The AERC 401k Savings Plan and Trust

Overview

Plan Information

  • Plan Year01/01/2009 — 12/31/2009
  • Date of Plan04/01/1990
  • Net Assets as of 12/31/2009 $6,829,317
  • 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 12/31/2009

  • Active (Eligible) Participants275
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits288
  • Subtotal563
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total563
  • Total number of participants as of 01/01/2009584
  • Number of participants with account balances553
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested29

Expenses

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

Sponsor Information

  • Address1 Aec Parkway
  • CityRichmond Heights
  • StateOH
  • Zip44143-1467
  • Telephone(216) 261-5000
  • EIN34-1747603
  • Industry Code531390
  • Named AdministratorDaniel E. Gold

Plan Administrator Information

  • Administrator NameAssociated Estates Realty
  • Address1 Aec Parkway
  • CityRichmond Heights
  • StateOH
  • Zip44143-1467
  • Telephone(216) 261-5000
  • Administrator EIN34-1747603

Audit Information

  • Audit StatusAudited
  • AuditorReznick Group P.C.
  • Auditor EIN52-1088612
  • Audit OpinionUnqualified
  • Audit Type Full 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 $100,000,000
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 $1,829,937
Contributions $711,329
Cash Contributions $711,329
Cash from Employers $63,905
Cash from Participants $647,424
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $1,101,312
Total Interest $46,668
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $11,176
Interest from Other Investments $35,492
Total Dividends $33,153
Preferred Stock $33,138
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $-8,698
Aggregate Proceeds $98,716
Aggregate Carrying Amount $107,414
Total Unrealized Appreciation (depreciation) of assets $146,725
Real Estate $0
Other $146,725
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $880,512
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 $2,952
Other Income $17,296
Expenses $789,766
Total Benefit Payments $712,171
Directly to participants or beneficiaries, including direct rollovers $712,171
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $69,342
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $8,253
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $8,253
Net Income $1,040,171
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2009 12/31/2008 Change YOY
Total Assets $6,829,317 $5,789,146 17.97%
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 $125,148 $200,563 -37.60%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $4,551,709 $3,574,200 27.35%
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 $10,324 $192 5277.08%
Value of funds held in insurance co. general account $1,585,169 $1,630,488 -2.78%
Other Investments $0 $0 0.0%
Employer-related Investments $556,967 $383,703 45.16%
Employer Securities $556,967 $383,703 45.16%
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 $6,829,317 $5,789,146 17.97%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Retirement Insurance and

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
Prudential Retirement Insurance and Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan, Sub-transfer agency fees, Recordkeeping fees NONE $6,865 $0 $6,865
M Holdings Securities, Inc. Securities brokerage, Securities brokerage commissions and fees NONE $0 $13 $13
Employers Select Plan Agncy of Ohio Securities brokerage, Securities brokerage commissions and fees NONE $0 $3 $3
Prudential Investment Management SE Distribution (12b-1) fees NONE $0 $0 $0
The Prudential Insurance Company of Distribution (12b-1) fees NONE $0 $0 $0
Total $6,865 $16 $6,881

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Prudential Investment Management SE American Century Investment Sv, Inc Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Am Cent Ultra - Advisorx $0
Prudential Investment Management SE American Century Investment Sv, Inc Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Am Century Real Estate A $0
Prudential Investment Management SE American Century Investment Sv, Inc Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Am Century Real Estate Adx $0
Prudential Investment Management SE Ivy Funds Distributor, Inc. Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Ivy Sm Cap Grth Y Shares $0
Prudential Investment Management SE Ivy Funds Distributor, Inc. Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Ivy Sm Cap Grth Y Sharesx $0
Prudential Investment Management SE Lord Abbett Distributor LLC Distribution (12b-1) fees 45.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Lord Abbett Affiliated P $0
Prudential Investment Management SE Lord Abbett Distributor LLC Distribution (12b-1) fees 45.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Lord Abbett Affiliated Px $0
Prudential Investment Management SE Pioneer Funds Distributor Inc Distribution (12b-1) fees 25.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Pioneer Emerging Markets $0
Prudential Investment Management SE T. Rowe Price Investment Services, Distribution (12b-1) fees 50.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 T Rowe Price Gr Stk R Shr $0
Prudential Retirement Insurance and American Century Services Corp. Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Recordkeeping fees 35.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Am Century Real Estate A $0
Prudential Retirement Insurance and T Rowe Price Investment Services In Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Recordkeeping fees 10.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 4/30/2009 T Rowe Price Gr Stk R Shr $0
Prudential Retirement Insurance and Waddell & Reed Services Company Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Recordkeeping fees 20.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Ivy Sm Cap Grth Y Shares $0
The Prudential Insurance Company of Pioneer Invest Mgt Sharehldrs Svcs, Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees, Recordkeeping fees 40.000 Bps and $0.00 Per Participant Invested In The Fund From 1/1/2009 To 12/31/2009 Pioneer Emerging Markets $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
Dryden S & P 500 Index Fund Prudential Retirement Ins. DFE: Pooled Separate Account $1,369,109
Lcv/Wellington Mgmt Prudential Retirement Ins. DFE: Pooled Separate Account $975,836
Lifetime Balanced Fd Prudential Retirement Ins. DFE: Pooled Separate Account $943,545
Core Bond Fund Prudential Retirement Ins. DFE: Pooled Separate Account $403,431
Internl Growth/Artisan Prudential Retirement Ins. DFE: Pooled Separate Account $242,217
Ivy Sm Cap Grth Y Shares Prudential Retirement Ins. DFE: Pooled Separate Account $148,790
Mid Cap Value/Cooke & Bie Prudential Retirement Ins. DFE: Pooled Separate Account $106,240
Hi Yield/Caywood-Scholl Prudential Retirement Ins. DFE: Pooled Separate Account $93,474
T Rowe Price Gr Stk R Shr Prudential Retirement Ins. DFE: Pooled Separate Account $84,052
Lifetime Growth Fd Prudential Retirement Ins. DFE: Pooled Separate Account $63,266
Lord Abbett Affiliated P Prudential Retirement Ins. DFE: Pooled Separate Account $53,426
Lifetime Aggressive Prudential Retirement Ins. DFE: Pooled Separate Account $36,566
Am Century Real Estate A Prudential Retirement Ins. DFE: Pooled Separate Account $19,599
Lifetime Income & Equity Prudential Retirement Ins. DFE: Pooled Separate Account $4,823
Government Sec/Pim Fund Prudential Retirement Ins. DFE: Pooled Separate Account $3,948
Lifetime Conservative Prudential Retirement Ins. DFE: Pooled Separate Account $3,386
Bal/Welling Mgmt Pim Fd Prudential Retirement Ins. DFE: Pooled Separate Account $0
Total $4,551,708

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 563
EIN 06-1050034
Industry Code 93629
Contract Number 39225-001
Contract Year 01/01/2009 — 12/31/2009
Value in General Account at Year End $1,585,169
Value in Separate Accounts at Year End $4,551,709
Insurance Fees and Commissions $30,412
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
M Holdings Securities, Inc. 1125 NW Couch St Suite 900 Portland, OR 97209 Agent or Broker other than Insurance $0 $25,232 SERVICES TO INSURER OR PLAN
Employers Select Plan Agncy of Ohio 6480 Rockside Woods Blvd Cleveland, OH 44131 Agent or Broker other than Insurance $0 $5,180 SERVICES TO INSURER OR 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 GENERAL ACCOUNT CONTRACT
Balance at the end of the previous year $1,630,488
Additions $345,100
Contributions Deposited during the year $109,269
Dividends and credits $0
Interest credited during the year $35,491
Transferred from separate account $170,175
Other $30,165
Total of Balance and Additions $1,975,588
Deductions $390,419
Disbursed from fund to pay benefits or purchase annuities during the year $256,990
Administration charge made by carrier $442
Transferred to Separate Account $89,561
Other $43,426
Balance at the end of the current year $1,585,169