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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2005
  • Net Assets as of 12/31/2019 $29,755,386
  • 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 12/31/2019

  • Active (Eligible) Participants737
  • Retired or separated participants receiving benefits7
  • Other retired or separated participants entitled to future benefits239
  • Subtotal983
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total985
  • Total number of participants as of 01/01/20191,140
  • Number of participants with account balances985
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested41

Expenses

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

Sponsor Information

  • AddressP.O. Box 400 52 Gaylord Farms Road
  • CityWallingford
  • StateCT
  • Zip06492
  • Telephone(203) 284-2834
  • EIN06-0646649
  • Industry Code622000
  • Named AdministratorWalter Harper

Audit Information

  • Audit StatusAudited
  • AuditorCrowe LLP
  • Auditor EIN35-0921680
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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 $5,000,000
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 $7,974,763
Contributions $2,959,020
Cash Contributions $2,959,020
Cash from Employers $658,619
Cash from Participants $2,078,247
Others (including rollovers) $222,154
Noncash Contributions $0
Total Earnings on Investments $5,015,743
Total Interest $95,947
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $20,675
Interest from Other Investments $75,272
Total Dividends $459,605
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 $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 $4,460,191
Other Income $0
Expenses $2,092,730
Total Benefit Payments $2,013,048
Directly to participants or beneficiaries, including direct rollovers $2,013,048
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $-3,876
Interest expense $0
Total Administrative Expenses $83,558
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $83,558
Net Income $5,882,033
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $29,755,386 $23,873,353 24.64%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $680 $687 -1.02%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $680 $687 -1.02%
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 $404,106 $413,578 -2.29%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $3,190,589 -100.00%
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 $25,977,434 $20,184,645 28.70%
Value of funds held in insurance co. general account $3,373,166 $83,854 3922.67%
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 $29,755,386 $23,873,353 24.64%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Record Keeper $83,558 $0 $83,558
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $83,558 $0 $83,558

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Transamerica Retirement Solutions American Beacon Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions American Century Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Goldman Sachs Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Metropolitan West Asset Mgmt Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Oakmark Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions T Rowe Price Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services American Beacon Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services American Century Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Goldman Sachs Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Metropolitan West Asset Mgmt Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Oakmark Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services T Rowe Price Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $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
Guaranteed Pooled Fund Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 985
EIN 36-6071399
Industry Code 70688
Contract Number TT080419
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $63,576
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $83,854
Additions $31,812
Contributions Deposited during the year $1,422
Dividends and credits $0
Interest credited during the year $595
Transferred from separate account $0
Other $29,795
Total of Balance and Additions $115,666
Deductions $52,090
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $6,485
Transferred to Separate Account $0
Other $45,605
Balance at the end of the current year $63,576
Transamerica Life Insurance Company 985
EIN 39-0989781
Industry Code 86231
Contract Number TT080419
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $3,309,590
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $0
Additions $3,630,751
Contributions Deposited during the year $253,405
Dividends and credits $0
Interest credited during the year $74,677
Transferred from separate account $0
Other $3,302,669
Total of Balance and Additions $3,630,751
Deductions $321,161
Disbursed from fund to pay benefits or purchase annuities during the year $202,593
Administration charge made by carrier $12,473
Transferred to Separate Account $0
Other $106,095
Balance at the end of the current year $3,309,590