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National Board of Osteopathic Medical Examiners, Inc.

Plan Rating
FORM 5500 DATA

National Board of Osteopathic Medical Examiners, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan06/01/1985
  • Net Assets as of 12/31/2007 $1,938,833
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2007

  • Active (Eligible) Participants34
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits2
  • Subtotal36
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total36
  • Total number of participants as of 01/01/200735
  • Number of participants with account balances35
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2
  • Number of participants required to be reported on Schedule SSA1

Expenses

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

Sponsor Information

  • Address8765 W Higgins Rd Ste 200
  • CityChicago
  • StateIL
  • Zip60631-4174
  • Telephone(773) 714-0622
  • EIN36-4135679
  • Industry Code611000
  • Named AdministratorRegina Oryszczak
  • Named Plan SponsorJoseph F. Smoley

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

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.
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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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 $645
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 at any time hold 20% or more of its assets in any single security, debt, mortgage, parcel of real estate, or partnership/joint venture interest? No $0
Are you claiming a waiver of the annual examination and report of an independent qualified public accountant (IQPA) under 29 CFR 2520.104-46? 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

Financials

Income and Expense Statement

Income $395,582
Contributions $0
Cash Contributions $308,936
Cash from Employers $139,891
Cash from Participants $169,045
Others (including rollovers) $0
Noncash Contributions $0
Other Income $86,646
Expenses $46,985
Total Benefit Payments $45,571
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Other Expenses $1,414
Net Income $348,597
Transfers of Assets to (from) this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $1,938,833 $1,590,236 21.92%
Total Liabilities $0 $0 0.0%
Net Assets $1,938,833 $1,590,236 21.92%

Specific Assets Statement

Held? Amount
Total Specific Assets No $13,818
Partnership/joint venture interests Yes $0
Employer Real Property Yes $0
Real Estate Yes $0
Employer Securities Yes $0
Participant Loans No $13,818
Loans (other than to participants) Yes $0
Tangible Personal Property Yes $0

Service Providers

Service Providers

There are no service providers listed for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Prin Ptr Lg-Cap Bld I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $514,249
Prin Lg Cp Stk Idx Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $225,850
Principal Divers Intl Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $203,451
Principal Money Mkt Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $202,718
Principal U.S. Property Sepact Principal Life Insurance Company DFE: Pooled Separate Account $125,251
Principal Med Co Blnd Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $105,236
Principal Med Co Val Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $75,388
Principal Bd Emph Bal Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $52,569
Principal Sm Co Blend Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $52,159
Principal Bond and Mtg Sep Acc Principal Life Insurance Company DFE: Pooled Separate Account $49,673
Principal Govt&Hqbnd Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $33,243
Prin Stock Emph Bal Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $30,847
Prin Fin Grp Inc. Stk Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $26,976
Total $1,697,610

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 36
EIN 42-0127290
Industry Code 61271
Contract Number 4-05836
Contract Year 01/01/2007 — 12/31/2007
Value in General Account at Year End $227,404
Value in Separate Accounts at Year End $1,697,611
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
Balance at the end of the previous year $179,186
Additions $56,251
Contributions Deposited during the year $41,119
Dividends and credits $0
Interest credited during the year $7,567
Transferred from separate account $0
Other $7,565
Total of Balance and Additions $235,437
Deductions $7,907
Disbursed from fund to pay benefits or purchase annuities during the year $6,244
Administration charge made by carrier $175
Transferred to Separate Account $0
Other $1,488
Balance at the end of the current year $227,530