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FORM 5500 DATA

ADP TotalSource Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan05/01/1988
  • Net Assets as of 12/31/2019 $5,717,458,448
  • Plan Number1
  • Plan Type Multiple 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) Participants257,307
  • Retired or separated participants receiving benefits46
  • Other retired or separated participants entitled to future benefits24,207
  • Subtotal281,560
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits211
  • Total281,771
  • Total number of participants as of 01/01/2019254,746
  • Number of participants with account balances127,394
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested4,780

Expenses

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

Sponsor Information

  • Address10200 Sunset Dr
  • CityMiami
  • StateFL
  • Zip33173
  • Telephone(305) 630-1000
  • EIN59-2452823
  • Industry Code541214
  • Named AdministratorKristen J Applema
  • Named Plan SponsorKristen J Applema

Audit Information

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

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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? Yes $39,248
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 $50,000,000
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 $2,012,144,672
Contributions $956,346,197
Cash Contributions $956,346,197
Cash from Employers $224,375,853
Cash from Participants $619,322,706
Others (including rollovers) $112,647,638
Noncash Contributions $0
Total Earnings on Investments $1,039,595,452
Total Interest $5,267,414
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $5,267,414
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 $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $572,278,837
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 $462,049,201
Other Income $16,203,023
Expenses $582,793,547
Total Benefit Payments $565,035,553
Directly to participants or beneficiaries, including direct rollovers $565,035,553
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 $17,757,994
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $17,757,994
Net Income $1,429,351,125
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $708,868,612

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $5,717,458,448 $4,441,647,280 28.72%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $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 $97,462,805 $89,264,897 9.18%
Value of interest in common/collective trusts $3,464,970,254 $2,629,671,549 31.76%
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 $2,127,238,145 $1,700,677,350 25.08%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $27,787,244 $22,033,484 26.11%
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 $5,717,458,448 $4,441,647,280 28.72%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Institutional Plan Services
  • State Street Global Markets
  • Td Ameritrade

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
Voya Institutional Plan Services Recordkeeping and information management (computing, tabulating, data processing, etc.) Recordkeeper $11,595,952 $0 $11,595,952
Voya Retirement Advisors, LLC Investment advisory (participants) Investment Advisory $2,770,744 $0 $2,770,744
Adp Totalsource Plan Administrator Plan Administrator $2,257,515 $0 $2,257,515
Proskauer Rose LLP Legal Legal $720,893 $0 $720,893
Nfp Retirement Investment advisory (plan) Investment Advisory $186,025 $0 $186,025
Crowe LLP Accounting (including auditing) Auditor $81,300 $0 $81,300
Td Ameritrade Securities brokerage Securities Brokerage $40,757 $0 $40,757
Lexis Nexis Other fees Other Services $7,616 $0 $7,616
Total $17,660,802 $0 $17,660,802

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
Russell 3000 Index Fund Blackrock Institutional Trust Co DFE: Common/Collective Trust $679,004,671
Voya Target Solution 2030 Voya Investment Trust Co DFE: Common/Collective Trust $309,505,631
Voya Target Solution 2035 Voya Investment Trust Co DFE: Common/Collective Trust $297,248,372
Acwi Ex-Us Index Fund Blackrock Institutional Trust Co DFE: Common/Collective Trust $289,393,963
Stable Value Collective Investment Global Trust Company DFE: Common/Collective Trust $286,236,839
Voya Target Solution 2040 Voya Investment Trust Co DFE: Common/Collective Trust $280,796,307
Voya Target Solution 2025 Voya Investment Trust Co DFE: Common/Collective Trust $266,276,961
Voya Target Solution 2045 Voya Investment Trust Co DFE: Common/Collective Trust $247,566,852
Voya Target Solution 2050 Voya Investment Trust Co DFE: Common/Collective Trust $193,534,105
Us Debt Index Fund Blackrock Institutional Trust Co DFE: Common/Collective Trust $187,833,758
Voya Target Solution 2020 Voya Investment Trust Co DFE: Common/Collective Trust $150,771,056
Voya Target Solution 2055 Voya Investment Trust Co DFE: Common/Collective Trust $120,977,200
Target Solution Trust Income Voya Investment Trust Co DFE: Common/Collective Trust $108,662,762
Voya Target Solution 2060 Voya Investment Trust Co DFE: Common/Collective Trust $47,161,777
Total $3,464,970,254

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.