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FORM 5500 DATA

John C. Grimberg Co. Inc. 401k Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1999
  • Net Assets as of 12/31/2017 $13,206,628
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants157
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits8
  • Subtotal165
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total167
  • Total number of participants as of 01/01/2017167
  • Number of participants with account balances134
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1

Expenses

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

Sponsor Information

  • Address3200 Tower Oaks Blvd Ste 300
  • CityRockville
  • StateMD
  • Zip20852-4216
  • Telephone(301) 881-5120
  • EIN52-0655642
  • Industry Code236200
  • Named AdministratorTimothy Kaczmarski
  • Named Plan SponsorTimothy Kaczmarski

Audit Information

  • Audit StatusAudited
  • AuditorWithumsmith+Brown
  • Auditor EIN22-2027092
  • 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.
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.

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 $750,000
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 $2,938,828
Contributions $1,280,069
Cash Contributions $1,280,069
Cash from Employers $207,294
Cash from Participants $704,102
Others (including rollovers) $368,673
Noncash Contributions $0
Total Earnings on Investments $1,659,430
Total Interest $11,926
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,312
Interest from Other Investments $5,614
Total Dividends $7,667
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 $1,456,304
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 $183,533
Other Income $-671
Expenses $333,722
Total Benefit Payments $326,158
Directly to participants or beneficiaries, including direct rollovers $326,158
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 $7,564
Professional Fees $0
Contract Administrator Fees $7,564
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $2,605,106
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 $13,206,628 $10,601,522 24.57%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $15,798 $0 0.0%
Employer Contributions $2,936 $0 0.0%
Participant Contributions $12,862 $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 $204,110 $200,876 1.61%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $10,883,926 $8,453,017 28.76%
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 $1,557,397 $1,230,979 26.52%
Value of funds held in insurance co. general account $545,397 $716,650 -23.90%
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 $13,206,628 $10,601,522 24.57%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $7,564 $0 $7,564
S B H U Life Agency Inc Other services, Other fees Other Services $0 $14 $14
Total $7,564 $14 $7,578

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
Prin Lgcap S&P 500 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $1,737,780
Prin Lifetime 2030 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $1,344,392
Prin Govt & Hq Bond Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $1,166,247
Prin Liquid Assets Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $1,140,952
Prin Diversified Intl Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $974,903
Prin Lgcap Growth Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $850,715
Prin Midcap Value I Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $593,574
Prin Intl Smallcap Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $519,716
Prin Lifetime 2020 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $415,352
Prin Lifetime 2050 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $359,657
Prin U.S. Property Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $307,002
Prin Lifetime 2040 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $263,177
Prin Lifetime Strat Inc Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $238,698
Prin Smallcap Value II Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $209,201
Prin Lgcap Value Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $202,199
Prin Midcap Growth III Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $186,501
Prin Lifetime 2010 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $175,790
Prin Largecap Value III Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $105,547
Prin Fin Grp, Inc. Stock Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $58,896
Prin Lifetime 2060 Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $33,628
Total $10,883,927

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 167
EIN 42-0127290
Industry Code 61271
Contract Number 436116
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $545,397
Value in Separate Accounts at Year End $10,883,926
Insurance Fees and Commissions $14,141
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
S B H U Life Agency Inc 1 New York Plz Fl 12 New York, NY 10004 -1901 Insurance Agent or Broker $13,800 $341 REFERRAL/SERVICE FEE
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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $732,421
Additions $56,772
Contributions Deposited during the year $41,109
Dividends and credits $0
Interest credited during the year $5,614
Transferred from separate account $0
Other $10,049
Total of Balance and Additions $789,193
Deductions $227,354
Disbursed from fund to pay benefits or purchase annuities during the year $213,265
Administration charge made by carrier $5,846
Transferred to Separate Account $4,187
Other $4,056
Balance at the end of the current year $561,839