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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2019 $59,584,235
  • Plan Number2
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants1,638
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits190
  • Subtotal1,828
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits4
  • Total1,832
  • Total number of participants as of 01/01/20191,805
  • Number of participants with account balances1,031
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested21

Expenses

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

Sponsor Information

  • Address11 Cooperative Way P.O. Box 6000
  • CityPembroke
  • StateNH
  • Zip03275
  • Telephone(603) 223-6710
  • EIN02-0218229
  • Industry Code445110

Audit Information

  • Audit StatusAudited
  • AuditorBigelow and Company
  • Auditor EIN02-0394333
  • 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.
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.
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 $715
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 $12,795,453
Contributions $4,158,801
Cash Contributions $4,158,801
Cash from Employers $1,582,309
Cash from Participants $2,206,673
Others (including rollovers) $369,819
Noncash Contributions $0
Total Earnings on Investments $8,636,652
Total Interest $446,650
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $58,484
Interest from Other Investments $388,166
Total Dividends $13,482
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 $8,176,520
Other Income $0
Expenses $4,328,143
Total Benefit Payments $4,279,155
Directly to participants or beneficiaries, including direct rollovers $4,279,155
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $23,665
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $25,323
Professional Fees $0
Contract Administrator Fees $19,672
Investment Advisory and management fees $0
Other Administrative Fees $5,651
Net Income $8,467,310
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 $59,584,235 $51,116,925 16.56%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $823,031 $784,977 4.85%
Employer Contributions $809,105 $773,028 4.67%
Participant Contributions $13,926 $11,949 16.55%
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 $849,883 $922,872 -7.91%
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 $45,238,518 $36,056,836 25.46%
Value of funds held in insurance co. general account $12,672,803 $13,352,240 -5.09%
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 $59,584,235 $51,116,925 16.56%

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
The Angell Pension Group, Inc. Contract Administrator Third Party Admin $0 $73,706 $73,706
Kestra Advisory Services, LLC Investment advisory (plan) Investment Advisor $0 $58,760 $58,760
Massachusetts Mutual Life Ins. Co. Other services, Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Other insurance wrap fees, Soft dollars commissions, Other investment fees and expenses Contract Administrator $25,323 $4,874 $30,197
Associated Grocers of N.E. Inc. Accounting (including auditing) Plan Sponsor $0 $25,187 $25,187
Bigelow & Company Accounting (including auditing) Auditor $0 $13,813 $13,813
American Beacon Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Fidelity Investments Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Jp Morgan Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Natixis Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Northern Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Pimco Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Total $25,323 $176,340 $201,663

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 Ins. Co. Contract Administrator Plan Related Expenses & Expense Reimbursement To Third Party $73,706
Kestra Advisory Services, LLC Mass Mutual Life Ins. Co. Investment advisory (plan) Plan Related Expenses $58,760
Associated Grocers of N.E. Inc Mass Mutual Life Ins. Co. Accounting (including auditing) Plan Related Expenses $25,187
Bigelow & Company, CPA, PLLC Mass Mutual Life Ins. Co. Accounting (including auditing) Plan Related Expenses $13,813
Mass Mutual Life Ins. Co. Millenium Trust Company, LLC Other services Referral Fee $0
Mass Mutual Life Ins. Co. Cap World Grwth and Incm (American) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Contrafund (Fidelity) Sub-transfer agency fees, Other insurance wrap fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Europacific Growth (American) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Income (Pimco) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Mid Cap Index (Northern) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Mm S&P 500 Index (Northern Trust) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. New World (American) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Premier Diversified Bond (Barings) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Premier Main Street (Invesco) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Select Mid Cap Gr (Trp/Frontier) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Select Trpls Blue Chip Growth Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Select Sm Cp Gr (Wellington Inv) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Small Cap Value (Northern) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2020 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co Smartretirement 2025 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2030 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2035 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2040 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2045 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2050 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement 2055 (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement Incm (Jp Morgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Smartretirement Incm II (Jpmorgan) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Strategic Income (Loomis Sayles) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Washington Mutual Invs (American) Sub-transfer agency fees, Distribution (12b-1) fees Basis Points * Plan Assets $0
Pimco Funds Income (Pimco) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds New World (American) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Northern Funds Mid Cap Index (Northern) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Northern Funds Small Cap Index (Northern) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Fidelity Investments Contrafund (Fidelity) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2020 (Jp Morgan) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2025 (Jp Morgan) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2030 Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2035 Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2040 Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2045 (Jp Morgan) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2050 (Jp Morgan) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement 2055 (Jp Morgan) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretirement Incm Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Smartretrmnt Incm II Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Europacific Growth Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Natixis Funds Strategic Income (Loomis Sayles) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Washington Mutual Invs (American) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Beacon American Beacon Mid Cap Value Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Cap World Grwth and Incm (American) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Northern Funds Small Cap Value (Northern) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Small Cap Index (Northern) Sub-transfer agency fees Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Premier Int'L Equity (Invesco) Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Mass Mutual Life Ins. Co. Massachusetts Mutual Life Ins Co Contract Administrator Plan Related Expenses $4,874
*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
Sia-Or (Smartretirement 2020) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $7,908,450
Sia-Q7 (Smartretirement 2030) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $7,621,446
Sia-X (Mm S&P 500 Index) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $4,842,882
Sia-S7 (Smartretirement 2040) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $4,624,927
Sia-W2 (Contrafund) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,211,790
Sia-P (Premier Diversified Bond) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,018,415
Sia-X7 (Smartretirement 2050) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,017,191
Sia-Kt (Washington Mutual Invs) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,970,067
Sia-Kr (Europacific Growth) Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $1,648,102
Sia-P7 (Smartretirement 2025) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,443,460
Sia-W9 (Select Mid Cap Gr) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,242,197
Sia-W1 (Select Trp/Ls Blue Chip Gro Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,209,279
Sia-Iz (Smartretirement Incm) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $983,923
Sia-Py (Cap World Grwth and Incm) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $936,845
Sia-Sc (Sel Well/Ofi Small Cap Gr) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $638,035
Sia-U7 (Smartretirement 2045) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $536,351
Sia-R7 (Smartretirement 2035) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $456,815
Sia-Jag (Income) Massachusetts Mutual Life Insurance Company DFE: Pooled Separate Account $449,452
Sia-Rc (Small Cap Value) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $425,686
Sia-Ccz (Smartretirement 2055) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $306,819
Sia-Qv (Small Cap Index) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $281,360
Sia-Qi (Mid Cap Index) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $246,386
Sia-M7 (Smartretrmnt Incm Ii) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $192,828
Sia-Px (New World) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $122,256
Sia-I (Premier Int'L Equity) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Ql (Strategic Income) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-N5 (Premier Main Street) Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Total $44,334,962

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 1,031
EIN 04-1590850
Industry Code 65935
Contract Number FL 8349-1
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $12,672,803
Value in Separate Accounts at Year End $44,334,962
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
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 $13,352,239
Additions $5,084,536
Contributions Deposited during the year $3,750,928
Dividends and credits $0
Interest credited during the year $388,166
Transferred from separate account $97,781
Other $847,661
Total of Balance and Additions $18,436,775
Deductions $5,763,972
Disbursed from fund to pay benefits or purchase annuities during the year $1,745,273
Administration charge made by carrier $7,089
Transferred to Separate Account $3,991,964
Other $19,646
Balance at the end of the current year $12,672,803