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FORM 5500 DATA

JM Family Enterprises, Inc. Associates' Profit Sharing and 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2003
  • Net Assets as of 12/31/2019 $1,277,349,191
  • Plan Number3
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants4,317
  • Retired or separated participants receiving benefits66
  • Other retired or separated participants entitled to future benefits900
  • Subtotal5,283
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits36
  • Total5,319
  • Total number of participants as of 01/01/20195,237
  • Number of participants with account balances5,275
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested89

Expenses

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

Sponsor Information

  • Address100 Jim Moran Blvd
  • CityDeerfield Beach
  • StateFL
  • Zip33442-1702
  • Telephone(954) 418-5250
  • EIN59-1390794
  • Industry Code423100
  • Named AdministratorCourtney Turney
  • Named Plan SponsorUpendra Mody

Plan Administrator Information

  • Administrator NameRetirement Committee
  • Address100 Jim Moran Blvd
  • CityDeerfield Beach
  • StateFL
  • Zip33442
  • Telephone(954) 596-3861
  • Administrator EIN45-4486797

Audit Information

  • Audit StatusAudited
  • AuditorPricewaterhousecoopers LLP
  • Auditor EIN13-4008324
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of 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.
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.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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? Yes $198,566
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 $284,938,278
Contributions $101,249,317
Cash Contributions $101,249,317
Cash from Employers $63,640,285
Cash from Participants $33,563,949
Others (including rollovers) $4,045,083
Noncash Contributions $0
Total Earnings on Investments $183,795,329
Total Interest $4,932,827
Interest-Bearing Cash $548,728
U.S. Government Securities $1,412,380
Corporate Debt Instruments $1,785,607
Loans (other than to participants) $0
Participant Loans $1,108,124
Interest from Other Investments $77,988
Total Dividends $30,012,606
Preferred Stock $50,432
Common Stock $651,778
Rents $0
Net gain (loss) on sale of assets $3,137,139
Aggregate Proceeds $69,926,930
Aggregate Carrying Amount $66,789,791
Total Unrealized Appreciation (depreciation) of assets $10,957,492
Real Estate $0
Other $10,957,492
Net investment gain (loss) from common/collective trusts $37,304,565
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 $97,450,700
Other Income $-106,368
Expenses $69,514,731
Total Benefit Payments $67,882,994
Directly to participants or beneficiaries, including direct rollovers $67,882,994
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $795,802
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $835,935
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $796,630
Other Administrative Fees $39,305
Net Income $215,423,547
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 $1,278,361,272 $1,062,353,396 20.33%
Total noninterest-bearing cash $780,998 $1,971,041 -60.38%
Receivables $52,733,279 $49,587,679 6.34%
Employer Contributions $50,124,249 $47,419,315 5.70%
Participant Contributions $832,042 $252,273 229.82%
Other Contributions $1,776,988 $1,916,091 -7.26%
General Investments $94,332,426 $53,618,329 75.93%
Interest-bearing cash $35,570,824 $14,446,232 146.23%
U.S. Government Securities $47,840,835 $29,239,991 63.61%
Corporate Debt Instruments $38,003,416 $31,079,588 22.28%
Preferred $10,920,767 $9,932,106 9.95%
All Other $27,082,649 $21,147,482 28.07%
Corporate Stocks $43,450,906 $28,981,581 49.93%
Preferred $680,740 $423,828 60.62%
Common $42,770,166 $28,557,753 49.77%
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 $27,608,648 $26,142,435 5.61%
Value of interest in common/collective trusts $259,405,430 $188,728,031 37.45%
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 $22,357,252 $19,558,796 14.31%
Value of interest in registered investment companies $748,817,113 $671,483,128 11.52%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $1,792,571 $1,134,894 57.95%
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 $1,012,081 $427,752 136.60%
Benefit Claims Payable (1) $792,111 $98,330 705.56%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $219,970 $329,422 -33.23%
Net Assets $1,277,349,191 $1,061,925,644 20.29%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fid Inv Inst Ops Co
  • Fid Mgmt Trust Co
  • Boston Trust & Investment Mgmt Co
  • Dodge & Cox

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
Acadian Asset Mgmt LLC Investment management, Investment management fees paid directly by plan Inv Mgmt $259,014 $0 $259,014
Boston Trust & Investment Mgmt Co Investment management, Investment management fees paid directly by plan Inv Mgmt $243,769 $0 $243,769
Newton Capital Management LLC Investment management, Investment management fees paid directly by plan Inv Mgmt $212,960 $0 $212,960
Dodge & Cox Investment management, Investment management fees paid directly by plan Inv Mgmt $120,190 $0 $120,190
Fid Inv Inst Ops Co Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan, Recordkeeping fees, Account maintenance fees Recordkeeper $39,305 $0 $39,305
Total $875,238 $0 $875,238

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fid Inv Inst Ops Co Boston Trust Sm Cap Sub-transfer agency fees 0.25% $0
Fid Inv Inst Ops Co Dodge & Cox Stock Sub-transfer agency fees 0.10% $0
Fid Inv Inst Ops Co Trp Growth Stock Sub-transfer agency fees 0.15% $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
Comm Pens Tr Fd (Dvsfd Cmrcl Prop) Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $58,347,481
Wtc-Cif II International Quality Gr Wellington Trust Company, N.A. DFE: Common/Collective Trust $46,286,496
Marathon-London Global Ex Us Cif Reliance Trust Company DFE: Common/Collective Trust $45,945,656
Bnymellon Newton Global Real Return The Bank of New York Mellon DFE: Common/Collective Trust $38,380,904
Boston Trust Sm Cap Retirement Fd Boston Trust Walden Company DFE: Common/Collective Trust $26,830,105
Managed Income Portfolio II Comm Pl Fidelity Management Trust Company DFE: Common/Collective Trust $24,048,665
Acadian Emrg Mrkts Sm Cap Eq Fd Acadian Asset Management LLC DFE: 103-12 Investment Entity $22,357,252
Blackrock Glbl Alloc Coll Fd M Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $19,566,123
Total $281,762,682

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.