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FORM 5500 DATA

Eastern Insurance Group, LLC 401k Savings and Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1997
  • Net Assets as of 12/31/2018 $44,426,322
  • Plan Number2
  • 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 12/31/2018

  • Active (Eligible) Participants397
  • Retired or separated participants receiving benefits13
  • Other retired or separated participants entitled to future benefits61
  • Subtotal471
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total472
  • Total number of participants as of 01/01/2018422
  • Number of participants with account balances465
  • 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

  • Address233 West Central Street
  • CityNatick
  • StateMA
  • Zip01760
  • Telephone(781) 596-4430
  • EIN38-3667558
  • Industry Code524210
  • Named AdministratorJennifer Porter

Audit Information

  • Audit StatusAudited
  • AuditorGray Gray & Gray LLP
  • Auditor EIN04-2088368
  • 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.
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 $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? Yes $420
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 $603,131
Contributions $3,824,377
Cash Contributions $3,824,377
Cash from Employers $931,752
Cash from Participants $2,479,941
Others (including rollovers) $412,684
Noncash Contributions $0
Total Earnings on Investments $-3,221,246
Total Interest $45,969
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $45,969
Interest from Other Investments $0
Total Dividends $3,287,023
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 $17,706
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 $-6,571,944
Other Income $0
Expenses $3,967,894
Total Benefit Payments $4,002,119
Directly to participants or beneficiaries, including direct rollovers $4,002,119
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 $-34,225
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $-34,225
Net Income $-3,364,763
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $44,426,322 $47,791,085 -7.04%
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 $1,010,418 $1,025,918 -1.51%
Value of interest in common/collective trusts $4,708,518 $5,232,988 -10.02%
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 $38,707,386 $41,532,179 -6.80%
Value of funds held in insurance co. general account $0 $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 $44,426,322 $47,791,085 -7.04%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Gray Gray & Gray LLP Accounting (including auditing) Accountant/Auditor $11,400 $0 $11,400
Donegal Securities Inc Finders' fees/placement fees Advisor $0 $0 $0
Commonwealth Financial Network Finders' fees/placement fees Advisor $0 $0 $0
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees Recordkeeper $-45,625 $0 $-45,625
Total $-34,225 $0 $-34,225

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Col Large Cap Idx A - Columbia Mgt Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Col Mid Cap Idx A - Columbia Mgt I Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Col Sm Cap Idx A - Columbia Mgt In Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Col/Acorn Intl A - Columbia Mgt In Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Columbia Balanced A - Columbia Mgt Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Hartford Midcap R4 - Hartford Admi Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Htfd Intl Opps R4 - Hartford Admin Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Is Msci Eafe Intl A - Bny Mellon I Sub-transfer agency fees 0.05% $0
Fidelity Investments Institutional Jpm Intrepid Value A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Mid Cap Value A - Dst Asset Ma Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret Inc A - Dst Asset Ma Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2020 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2025 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2030 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2035 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2040 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2045 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2050 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Smart Ret 2055 A - Dst Asset M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Jpm Us Equity A - Dst Asset Manage Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Opp Intl Sm Mid Co A - Ofi Global Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Opphmr Dev Mkts A - Ofi Global Ass Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Um Behavioral Val A - Dst Asset Ma Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Vic Global Nat Res A - Fis Investo Sub-transfer agency fees 0.25% $0
Commonwealth Financial Network Columbia Balanced A - Columbia Mgt Finders' fees/placement fees $0-<$3M=1.00%, $3M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Intrepid Value A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Mid Cap Value A - Jpmorgan Dis Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret Inc A - Jpmorgan Dis Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2020 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2025 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2030 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2035 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2040 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2045 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Smart Ret 2050 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Jpm Us Equity A - Jpmorgan Distrib Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Commonwealth Financial Network Opp Intl Sm Mid Co A - Oppenheimer Finders' fees/placement fees $5M+=0.25% $0
Commonwealth Financial Network Opphmr Dev Mkts A - Oppenheimerfun Finders' fees/placement fees $5M+=0.25% $0
Donegal Securities Inc Col/Acorn Intl A - Columbia Manage Finders' fees/placement fees $0-<$3M=1.00%, $3M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Columbia Balanced A - Columbia Mgt Finders' fees/placement fees $0-<$3M=1.00%, $3M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Intrepid Value A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Mid Cap Value A - Jpmorgan Dis Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret Inc A - Jpmorgan Dis Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2020 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2025 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2030 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2035 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2040 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2045 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Smart Ret 2050 A - Jpmorgan Di Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Jpm Us Equity A - Jpmorgan Distrib Finders' fees/placement fees $0-<$4M=1.00%, $4M-<$10M=0.75%, $10M-<$50M=0.50%, $50M+=0.25% $0
Donegal Securities Inc Opp Intl Sm Mid Co A - Oppenheimer Finders' fees/placement fees $5M+=0.25% $0
Donegal Securities Inc Opphmr Dev Mkts A - Oppenheimerfun Finders' fees/placement fees $5M+=0.25% $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
Fa Stable Value II Fidelity Management Trust Company DFE: Common/Collective Trust $4,708,518
Total $4,708,518

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.