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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/2005
  • Net Assets as of 12/31/2018 $16,486,519
  • 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 Arrangement Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants116
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits163
  • Subtotal279
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total279
  • Total number of participants as of 01/01/2018288
  • Number of participants with account balances242
  • 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

  • Address77 Main St
  • CityHopkinton
  • StateMA
  • Zip01748
  • Telephone(508) 435-7882
  • EIN04-3508066
  • Industry Code541600

Audit Information

  • Audit StatusAudited
  • AuditorBritt & Company CPA, LLC
  • Auditor EIN45-0604259
  • 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.
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.
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.

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 $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? 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 $-240,467
Contributions $920,629
Cash Contributions $920,629
Cash from Employers $257,500
Cash from Participants $577,313
Others (including rollovers) $85,816
Noncash Contributions $0
Total Earnings on Investments $-1,161,096
Total Interest $718
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $718
Interest from Other Investments $0
Total Dividends $0
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 $-1,161,814
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 $0
Other Income $0
Expenses $2,923,662
Total Benefit Payments $2,923,662
Directly to participants or beneficiaries, including direct rollovers $2,921,102
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $2,560
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-3,164,129
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 $16,486,519 $19,650,648 -16.10%
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 $7,551 $12,837 -41.18%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $16,478,968 $19,637,811 -16.09%
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 $0 $0 0.0%
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 $16,486,519 $19,650,648 -16.10%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Massachusetts Mutual Life Insurance

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
American Fiduciary Corporation Contract Administrator, Plan Administrator Third Party Administrator $1,968 $9,620 $11,588
Massachusetts Mutual Life Insurance Other services, Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Soft dollars commissions, Other investment fees and expenses Contract Administrator $2,560 $0 $2,560
Joseph W Hayes Insurance brokerage commissions and fees Shareholder Service Provi $0 $0 $0
Terrance P Mcmahon Insurance brokerage commissions and fees Shareholder Service Provi $0 $0 $0
Wells Fargo Galliard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Baron Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Harris Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Invesco Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Pioneer Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Oppenheimer Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Oppenheimer Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Wells Fargo Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Janus Henderson Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Franklin Templeton Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Mfs Investment Management Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Envestnet Retirement Solutions, LLC Investment advisory (plan) Investment Adviser $0 $0 $0
Oppenheimer Investment Adviser $0 $0 $0
Total $4,528 $9,620 $14,148

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Sia-Yx Mm S&P 500 Index Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,761,044
Sia-Xt Mm Sel Trp Retirement 2030 Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,465,779
Sia-Hw Growth America Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,446,836
Sia-L1 Stable Return II Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,261,445
Sia-Qe Select Strategic Bond Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,131,001
Sia-W1 Sel Trp/Ls Blue Chip Growth Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $969,673
Sia-Jk Select Diversified Val Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $860,455
Sia-J6D Special Mid Cap Value Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $772,606
Sia-Vb Europacific Growth Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $757,221
Sia-Vt Mm Sel Trp Retirement 2020 Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $738,455
Sia-Oz Sel Metwest Total Rtrn Bond Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $719,342
Sia-Zt Mm Sel Trp Retirement 2040 Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $670,209
Sia-Nh Global Opportunities Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $623,958
Sia-Jh Premier High Yield Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $462,333
Sia-Cay Growth Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $442,695
Sia-Wy Growth Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $433,873
Sia-Cmf Small Cap Value Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $347,161
Sia-C4 Mid Cap Value Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $317,785
Sia-Vy Cap World Grwth and Incm Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $279,362
Sia-Cb Real Estate Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $255,472
Sia-Pv Disciplined Value Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $190,512
Sia-Pv Disciplined Value Massachusetts Mutual Life Insurance Company DFE: Common/Collective Trust $190,512
Sia-Vk Equity & Income Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $162,789
Sia-Ab Sel Blackrock Global Allocat Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $109,218
Sia-Ut Mm Sel Trp Retirement 2050 Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $103,379
Sia-St Mm Sel Trp Retirement 2010 Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $65,825
Sia-Rt Mm Sel Trp Retirement Bal Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $62,548
Sia-Ti Mid Cap Value Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $56,181
Sia-Vu Utilities Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $12,515
Sia-Ag Premier Us Govt Money Market Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1
Total $16,670,185

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 0
EIN 04-1590850
Industry Code 65838
Contract Number RM 84340-1
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $16,479,675
Insurance Fees and Commissions $46,858
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Joseph W. Hayse Po Box 815 Middleton, MA 01949 Insurance Agent or Broker $43,488 $0
Terrance P. Mcmahon 43 Constitution Dr Bedford, NH 03110 Insurance Agent or Broker $3,370 $0
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 $0
Additions $943,916
Contributions Deposited during the year $834,813
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $109,103
Total of Balance and Additions $943,916
Deductions $943,916
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $943,916
Other $0
Balance at the end of the current year $0