Back to top
FORM 5500 DATA

MBI, Inc. Profit Sharing Plan & Trust

Overview

Plan Information

  • Plan Year10/01/2017 — 09/30/2018
  • Date of Plan10/01/1973
  • Net Assets as of 09/30/2018 $107,074,603
  • 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? No
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 09/30/2018

  • Active (Eligible) Participants370
  • Retired or separated participants receiving benefits32
  • Other retired or separated participants entitled to future benefits10
  • Subtotal412
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total412
  • Total number of participants as of 10/01/2017427
  • Number of participants with account balances412
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested9

Expenses

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

Sponsor Information

  • Address47 Richards Avenue
  • CityNorwalk
  • StateCT
  • Zip06857
  • Telephone(203) 853-2000
  • EIN06-0902721
  • Industry Code454110
  • Named AdministratorMichael Wilbur

Plan Administrator Information

  • Administrator NameMbi, Inc.
  • Address47 Richards Avenue
  • CityNorwalk
  • StateCT
  • Zip06857
  • Telephone(203) 853-2000
  • Administrator EIN06-0902721

Audit Information

  • Audit StatusAudited
  • AuditorBlum Shapiro & Co., P.C.
  • Auditor EIN06-1009205
  • Audit OpinionUnqualified
  • Audit Type Full 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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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 $2,500,000
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? Yes
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 $12,041,639
Contributions $2,976,208
Cash Contributions $2,976,208
Cash from Employers $2,976,208
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $9,065,431
Total Interest $20,167
Interest-Bearing Cash $15,620
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,547
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 $121,706
Real Estate $0
Other $121,706
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 $8,923,558
Other Income $0
Expenses $8,002,595
Total Benefit Payments $8,002,595
Directly to participants or beneficiaries, including direct rollovers $8,002,595
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 $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $4,039,044
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2018 09/30/2017 Change YOY
Total Assets $107,074,603 $103,035,559 3.92%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $2,976,208 $2,777,924 7.14%
Employer Contributions $2,976,208 $2,777,924 7.14%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $9,023,981 $13,345,027 -32.38%
Interest-bearing cash $1,033,438 $12,490,891 -91.73%
U.S. Government Securities $7,990,543 $854,136 835.51%
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 $151,589 $118,281 28.16%
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 $94,922,825 $86,794,327 9.37%
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 $107,074,603 $103,035,559 3.92%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

There are no service providers listed for this plan.

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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.