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FORM 5500 DATA

Whittier Employee Resources, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/11/2007
  • Net Assets as of 12/31/2017 $26,629,714
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants1,945
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits637
  • Subtotal2,582
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total2,582
  • Total number of participants as of 01/01/20172,570
  • Number of participants with account balances2,014
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address25-35 Railroad Square
  • CityHaverhill
  • StateMA
  • Zip01832
  • Telephone(978) 556-5909
  • EIN26-2549460
  • Industry Code541600
  • Named AdministratorPhilip M Arcidi

Audit Information

  • Audit StatusAudited
  • AuditorCaron & Bletzer, PLLC
  • Auditor EIN04-3499945
  • 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.
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 $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? 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 $6,208,472
Contributions $2,580,403
Cash Contributions $2,580,403
Cash from Employers $0
Cash from Participants $2,537,946
Others (including rollovers) $42,457
Noncash Contributions $0
Total Earnings on Investments $3,628,069
Total Interest $39,250
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $3,399
Interest from Other Investments $35,851
Total Dividends $2,407,361
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 $1,181,458
Other Income $0
Expenses $2,013,558
Total Benefit Payments $1,939,565
Directly to participants or beneficiaries, including direct rollovers $1,939,565
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $1,051
Interest expense $0
Total Administrative Expenses $72,942
Professional Fees $0
Contract Administrator Fees $31,794
Investment Advisory and management fees $41,148
Other Administrative Fees $0
Net Income $4,194,914
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 $26,629,714 $22,434,800 18.70%
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 $79,199 $109,369 -27.59%
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 $24,724,875 $20,390,228 21.26%
Value of funds held in insurance co. general account $1,825,640 $1,935,203 -5.66%
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 $26,629,714 $22,434,800 18.70%

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

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Mass Mutual Life Insurance Company Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Other investment fees and expenses Contract Administrator $72,942 $0 $72,942
First Republic Securities Co, LLC Insurance brokerage commissions and fees Shareholder Service Prov $0 $45,351 $45,351
The Angell Pension Group, Inc. Contract Administrator Third Party Administrato $0 $19,049 $19,049
Franklin Templeton Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Total $72,942 $64,400 $137,342

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
The Angell Pension Group, Inc. Mass Mutual Life Insurance Company Contract Administrator Expense Reimbursement To Third Party $19,049
First Republic Securities Co, LLC Mass Mutual Life Insurance Company Insurance brokerage commissions and fees Commissions and Fees $45,351
Mass Mutual Life Insurance Company Templeton Global Bond Fund Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Select Metwest Total Return Bond Fd Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2010 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2020 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2025 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2030 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart In Retirement Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart Moderate Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retire Smart 2015 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Msci Eafe Intl Indx Fd (Nrtn Tr) Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Point * Plan Assets $0
Mass Mutual Life Insurance Company Mm Rsl 2000 Smcap Indx Fd (Nrtn Tr) Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm S&P 500 Index Fd (Nrtn Tr) Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm S&P Mid Cap Index Fund (Nrtn Tr) Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2045 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2035 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2040 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Premier U.S.Govt Mny Mkt Fd Barings Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Insurance Company Mm Retiresmart 2050 Fund Investment management fees paid indirectly by plan, Distribution (12b-1) fees, Other investment fees and expenses Basis Points * Plan Assets $0
Franklin Templeton Templeton Global Bond Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 2,014
EIN 04-1590850
Industry Code 65935
Contract Number MR 61002-1
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $1,825,640
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $3,791
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
First Republic Securities Co, LLC 111 Pine Street San Francisco, CA 94111 Banking, Savings and Loan Association, Credit Union, or other similar financial institution $3,791 $0
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $1,935,203
Additions $143,455
Contributions Deposited during the year $97,556
Dividends and credits $0
Interest credited during the year $35,851
Transferred from separate account $0
Other $10,048
Total of Balance and Additions $2,078,658
Deductions $253,018
Disbursed from fund to pay benefits or purchase annuities during the year $236,883
Administration charge made by carrier $4,456
Transferred to Separate Account $8,648
Other $3,031
Balance at the end of the current year $1,825,640