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FORM 5500 DATA

Tully Group Employee Savings and Protection Plan

Overview

Plan Information

  • Plan Year01/01/2013 — 12/31/2013
  • Date of Plan01/01/1985
  • Net Assets as of 12/31/2013 $9,256,716
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2013

  • Active (Eligible) Participants203
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits49
  • Subtotal252
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total252
  • Total number of participants as of 01/01/2013261
  • Number of participants with account balances213
  • 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

  • Address127-50 Northern Blvd.
  • CityFlushing
  • StateNY
  • Zip11368
  • Telephone(718) 446-7000
  • EIN11-2493726
  • Industry Code236200
  • Named AdministratorJoanne Torres

Audit Information

  • Audit StatusAudited
  • AuditorCohnreznick LLP
  • Auditor EIN22-1478099
  • 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.
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 $2,674,216
Contributions $1,086,923
Cash Contributions $1,086,923
Cash from Employers $0
Cash from Participants $1,058,702
Others (including rollovers) $28,221
Noncash Contributions $0
Total Earnings on Investments $1,586,787
Total Interest $6,825
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,825
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 $0
Net investment gain (loss) from pooled separate accounts $1,579,962
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 $0
Other Income $506
Expenses $86,445
Total Benefit Payments $83,267
Directly to participants or beneficiaries, including direct rollovers $83,267
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 $3,178
Professional Fees $3,178
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $2,587,771
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2013 12/31/2012 Change YOY
Total Assets $9,256,716 $6,668,945 38.80%
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 $2,271 0.0%
Interest-bearing cash $0 $2,271 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 $193,958 $169,183 14.64%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $8,983,245 $6,451,418 39.24%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $79,513 $46,073 72.58%
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 $9,256,716 $6,668,945 38.80%

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

There are no service providers listed for this plan.

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
Oppenheimer Global Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,417,583
Transamerica Partners Stock In Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $907,503
Pimco Low Duration Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $626,103
Blackrock Equity Dividend Ret Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $567,640
Morgan Stanley Growth Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $504,870
Loomis Sayles Investment Grade Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $501,871
Lord Abbett Fundamental Equity Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $450,822
Transamerica Smallmid Cap Val Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $426,010
Ridgeworth Mid-Cap Value Equit Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $362,422
Nuveen Mid Cap Growth Opportun Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $333,206
Janus Balanced Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $291,564
Vanguard Target Retirement 204 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $256,034
Thornburg International Value Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $224,632
Vanguard Target Retirement 203 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $223,617
Templeton Global Bond Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $217,273
Lord Abbett Developing Growth Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $216,401
Vanguard Target Retirement 205 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $183,461
Blackrock Global Allocation Re Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $159,817
Transamerica Partners High Yie Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $108,029
Vanguard Target Retirement 202 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $103,713
Fidelity Advisor Small Cap Ret Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $97,902
Ivy Science & Technology Ret A Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $87,959
Vanguard Target Retirement 203 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $70,396
Franklin Utilities Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $62,787
Vanguard Target Retirement 204 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $58,782
Manning & Napier Pro-Mix Conse Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $58,329
Invesco Charter Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $47,922
Ridgeworth Large Cap Value Equ Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $44,001
Goldman Sachs Mid-Cap Opportun Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $43,434
Prudential Jennison Natural Re Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $39,082
Oppenheimer Developing Markets Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $32,697
Fidelity Advisor New Insights Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $29,359
Fidelity Advisor Leveraged Com Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $28,171
Loomis Sayles Bond Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $26,281
Blackrock Health Sciences Ops Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $26,219
Neuberger Berman Genesis Ret A Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $21,028
Vanguard Target Retirement 202 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $20,097
Vanguard Target Retirement 205 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $19,938
Vanguard Reit Index Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $18,992
American Funds Europacific Gro Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $18,904
First Eagle Overseas Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $13,628
American Century Mid Cap Value Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $10,916
Vanguard Target Retirement Inc Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $10,598
Ssga S&P Mid Cap Index Ret Acc Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $7,046
American Funds New Perspective Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $3,831
Vanguard Target Retirement 201 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $2,375
Manning & Napier Pro-Mix Maxim Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Ridgeworth Small Cap Value Equ Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Total $8,983,245

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 213
EIN 36-6071399
Industry Code 70688
Contract Number 600912-000
Contract Year 01/01/2013 — 12/31/2013
Value in General Account at Year End $0
Value in Separate Accounts at Year End $8,983,245
Insurance Fees and Commissions $30,736
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Morgan Stanley Insurance Services I Philip C Ressa Jersey City, NJ 07311 Insurance Agent or Broker $15,368 $0
Morgan Stanley Insurance Services I Justin H Cho Jersey City, NJ 07311 Insurance Agent or Broker $15,368 $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 STABLE VALUE CORE ACCOUNT
Balance at the end of the previous year $46,073
Additions $38,865
Contributions Deposited during the year $24,617
Dividends and credits $0
Interest credited during the year $506
Transferred from separate account $13,742
Other $0
Total of Balance and Additions $84,938
Deductions $5,425
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $5,425
Other $0
Balance at the end of the current year $79,513