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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1982
  • Net Assets as of 12/31/2017 $47,968,597
  • 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
  • Report Description This is an amended report.
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants105
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits15
  • Subtotal120
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total122
  • Total number of participants as of 01/01/2017118
  • Number of participants with account balances120
  • 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

  • Address3720 Dillon Street
  • CityBaltimore
  • StateMD
  • Zip21224
  • Telephone(410) 276-1337
  • EIN52-0231416
  • Industry Code483000
  • Named AdministratorEric Nielsen

Audit Information

  • Audit StatusAudited
  • AuditorRsm Us LLP
  • Auditor EIN42-0714325
  • 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.
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B Self-Employed Plan Plan covering Self-Employed individuals.

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 $7,578,630
Contributions $2,458,840
Cash Contributions $2,458,840
Cash from Employers $1,599,589
Cash from Participants $859,251
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $2,133,857
Total Interest $15,583
Interest-Bearing Cash $4,351
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $11,232
Interest from Other Investments $0
Total Dividends $438,079
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 $-13,149
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 $1,693,344
Other Income $2,985,933
Expenses $1,339,092
Total Benefit Payments $1,273,370
Directly to participants or beneficiaries, including direct rollovers $1,268,612
To insurance carriers for the provision of benefits $4,758
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $65,722
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $10,126
Other Administrative Fees $55,596
Net Income $6,239,538
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $47,968,597 $41,729,059 14.95%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $414,866 $380,612 9.00%
Employer Contributions $280,453 $261,352 7.31%
Participant Contributions $134,413 $119,260 12.71%
Other Contributions $0 $0 0.0%
General Investments $863,753 $701,705 23.09%
Interest-bearing cash $863,753 $701,705 23.09%
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 $285,789 $314,860 -9.23%
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 $20,751,160 $18,141,746 14.38%
Value of funds held in insurance co. general account $13,226 $10,927 21.04%
Other Investments $25,639,803 $22,179,209 15.60%
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 $47,968,597 $41,729,059 14.95%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Charles Schwab & Co. Inc. and Affil

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
Schwab Retirement Plan Services, In Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment advisory (participants), Direct payment from the plan, Recordkeeping fees NONE $55,596 $0 $55,596
Maryland Capital Management Investment advisory (participants), Direct payment from the plan NONE $9,540 $0 $9,540
Charles Schwab & Co., Inc. Securities brokerage, Direct payment from the plan, Shareholder servicing fees, Float revenue, Securities brokerage commissions and fees NONE $3,107 $16 $3,123
Total $68,243 $16 $68,259

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Charles Schwab & Co and affiliates See Attachment Shareholder servicing fees See Attachment $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
Schwab Managed Rtmt Trust Fund 2020 Charles Schwab Bank DFE: Common/Collective Trust $0
Schwab Managed Rtmt Trust Fund 2030 Charles Schwab Bank DFE: Common/Collective Trust $0
Schwab Managed Rtmt Trust Fund 2040 Charles Schwab Bank DFE: Common/Collective Trust $0
Schwab Managed Rtmt Trust Fund 2050 Charles Schwab Bank DFE: Common/Collective Trust $0
Schwab Mangd Rtmt Trust Fund Income Charles Schwab Bank DFE: Common/Collective Trust $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
C.M. Life Insurance Company 13
EIN 06-1041383
Industry Code 93432
Contract Number 6265142
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Thompson William Edward II 11350 Mccormick Rd Hunt Valley, MD 21031 -1002 Insurance Agent or Broker $0 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $7,740
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0
C.M. Life Insurance Compan 8
EIN 06-1041383
Industry Code 93432
Contract Number 6265223
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Thompson William Edward II 11350 Mccormick Rd Hunt Valley, MD 21031 -1002 Insurance Agent or Broker $0 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $5,062
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0
C.M. Life Insurance Company 2
EIN 06-1041383
Industry Code 93432
Contract Number 6265223
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
William Edward Thompson II 11350 Mccormick Rd Hunt Valley, MD 21031 -1002 Insurance Agent or Broker $0 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $1,267
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0