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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1986
  • Net Assets as of 12/31/2017 $914,006,036
  • 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?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants6,518
  • Retired or separated participants receiving benefits53
  • Other retired or separated participants entitled to future benefits2,227
  • Subtotal8,798
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits27
  • Total8,825
  • Total number of participants as of 01/01/20178,877
  • Number of participants with account balances8,323
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested76

Expenses

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

Sponsor Information

  • Address10 Memorial Blvd
  • CityProvidence
  • StateRI
  • Zip02903
  • Telephone(401) 392-1000
  • EIN88-0173041
  • Industry Code541990
  • Named AdministratorChris Popadic

Audit Information

  • Audit StatusAudited
  • AuditorBlum Shapiro & Co, Pc
  • 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.
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.
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.
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 $1,158,757
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 $25,000,000
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 $202,145,060
Contributions $53,341,007
Cash Contributions $53,341,007
Cash from Employers $13,414,169
Cash from Participants $37,351,433
Others (including rollovers) $2,575,405
Noncash Contributions $0
Total Earnings on Investments $148,609,753
Total Interest $1,340,947
Interest-Bearing Cash $582,334
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $758,613
Interest from Other Investments $0
Total Dividends $14,840,389
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 $33,167,081
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 $99,261,336
Other Income $194,300
Expenses $56,835,719
Total Benefit Payments $56,599,144
Directly to participants or beneficiaries, including direct rollovers $56,599,144
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $41,494
Interest expense $0
Total Administrative Expenses $195,081
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $23,115
Other Administrative Fees $171,966
Net Income $145,309,341
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $6,193,070

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $914,006,036 $774,889,765 17.95%
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 $49,656,647 $52,082,068 -4.66%
Interest-bearing cash $49,656,647 $52,082,068 -4.66%
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 $15,179,891 $14,657,963 3.56%
Value of interest in common/collective trusts $603,514,395 $143,866,096 319.50%
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 $211,669,165 $535,975,942 -60.51%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $28,109,601 $22,043,627 27.52%
Employer-related Investments $5,876,337 $6,264,069 -6.19%
Employer Securities $5,876,337 $6,264,069 -6.19%
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 $914,006,036 $774,889,765 17.95%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Mercer Consulting (general) Consultant $64,388 $0 $64,388
Strategic Advisors, Inc. Investment advisory (plan) Advisor $23,115 $0 $23,115
Blum Shaprio Accounting (including auditing) Auditor $21,304 $0 $21,304
Aon Hewitt Investment Consulting Consulting (general) Consultant $15,000 $0 $15,000
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $-98,418 $0 $-98,418
Total $25,389 $0 $25,389

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Rems Real Estate Value Opportunity Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional American Smallcap World Class F1 Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional Rydex Consumer Products Investor Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional T Rowe Price Dividend Growth Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Akre Focus Fund Retail Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional T Rowe Price Growth Stock Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional T Rowe Price Media &Telecommunicati Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Pimco Income Fund Cl D Sub-transfer agency fees 0.38% $0
Fidelity Investments Institutional Parnassus Core Equity Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Parnassus Endeavor Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oppenheimer Intl Smlmid Company Cl Sub-transfer agency fees $16.50 $0
Fidelity Investments Institutional American New Perspective Class F1 Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional American New Economyclass F1 Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional Morgan Stanley Instlinterntl Opp Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Morgan Stanley Global Opportunity A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Msif Global Franchise Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Ivy Science & Technology Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Hennessy Gas Utilityinvestor Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oakmark Intl Investor Cl Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional American Growth Fundof America Clas Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional Alps/Kotak India Growth Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Fmi International Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional American Capital World Grwth & Inc Sub-transfer agency fees 0.37% $0
Fidelity Investments Institutional Baron Energy and Resources Fd Retai Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Real Estate Fund Retail Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Asset Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Ishares S&P 500 Index Investor A Sub-transfer agency fees 0.30% $0
Fidelity Investments Institutional American Century Infln Adj Bond Inv Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional American Cen Sht Durinfl Protectn B Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Invesco Asia Pacificgrowth Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Dodge & Cox Intl Stk - Boston Fina Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Htfd Value Hls Ia - Hartford Admin Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Mid Cap Value - T. Rowe Price Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2005 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2010 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2015 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2020 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2025 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2030 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2035 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2040 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2045 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2050 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2055 - T. Rowe Pric Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Retirement 2060 - T. Rowe Pric 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

Name Nature of Service Description of Information

Service Providers Who Fail or Refuse to Provide Information

Termination Information on Accountants and Enrolled Actuaries

Name Position Explanation

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Fid Contrafund Pool Fidelity Management Trust Company DFE: Common/Collective Trust $96,808,502
Ss S&P 500 Index N State Street Bank & Trust Company DFE: Common/Collective Trust $72,886,929
Trp Retire 2030 F T. Rowe Price Trust Company DFE: Common/Collective Trust $57,491,127
Trp Retire 2025 F T. Rowe Price Trust Company DFE: Common/Collective Trust $53,605,123
Trp Retire 2035 F T. Rowe Price Trust Company DFE: Common/Collective Trust $45,001,127
Trp Retire 2040 F T. Rowe Price Trust Company DFE: Common/Collective Trust $41,831,739
Trp Retire 2020 F T. Rowe Price Trust Company DFE: Common/Collective Trust $38,621,249
Ls Core Pl Fxinc C Mercer Trust Company DFE: Common/Collective Trust $30,671,737
Artisan Mid Cap Inst Artisan Partners Distributors LLC DFE: Common/Collective Trust $29,259,149
Trp Us Mdcp Val Eq T. Rowe Price Trust Company DFE: Common/Collective Trust $28,066,053
Trp Retire 2045 F T. Rowe Price Trust Company DFE: Common/Collective Trust $25,072,420
Trp Retire 2050 F T. Rowe Price Trust Company DFE: Common/Collective Trust $20,038,712
Mip Cl 1 Fidelity Management Trust Company DFE: Common/Collective Trust $12,660,272
Trp Retire 2015 F T. Rowe Price Trust Company DFE: Common/Collective Trust $11,574,513
Ss Us Bond Index C State Street Bank & Trust Company DFE: Common/Collective Trust $11,068,811
Ss Intl Index C State Street Bank & Trust Company DFE: Common/Collective Trust $8,270,324
Trp Retire 2055 F T. Rowe Price Trust Company DFE: Common/Collective Trust $6,793,945
Ss Rsl Sm Cap Idx S State Street Bank & Trust Company DFE: Common/Collective Trust $4,339,850
Trp Retire 2010 F T. Rowe Price Trust Company DFE: Common/Collective Trust $4,229,965
Trp Retire 2005 F T. Rowe Price Trust Company DFE: Common/Collective Trust $3,606,775
Trp Retire 2060 F T. Rowe Price Trust Company DFE: Common/Collective Trust $1,167,609
Pif Dvrsd Ra Cit T1 Principal Trust Company DFE: Common/Collective Trust $448,464
Russ Small Cap (R) Indx Nl Sf Cl S State Street Bank and Trust Company DFE: Common/Collective Trust $0
Total $603,514,395

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.