Back to top
FORM 5500 DATA

Aace Associates, Inc. 401k Profit Sharing Plan & Trust

Overview

Plan Information

  • Plan Year01/01/2016 — 12/31/2016
  • Date of Plan01/01/2000
  • Net Assets as of 12/31/2016 $925,231
  • 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 12/31/2016

  • Active (Eligible) Participants67
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits17
  • Subtotal84
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total84
  • Total number of participants as of 01/01/2016149
  • Number of participants with account balances32
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested11

Expenses

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

Sponsor Information

  • Address575 Underhill Blvd Suite 222
  • CitySyosset
  • StateNY
  • Zip11791
  • Telephone(516) 937-3950
  • EIN11-2944924
  • Industry Code484110
  • Named AdministratorJoseph Eletto
  • Named Plan SponsorJoseph Eletto

Audit Information

  • Audit StatusAudited
  • AuditorNeuschatz Neuschatz Herman Hanke
  • Auditor EIN22-3393330
  • 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.
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? 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 $115,000
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 $141,207
Contributions $50,424
Cash Contributions $50,424
Cash from Employers $4,898
Cash from Participants $45,526
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $90,783
Total Interest $4,406
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,406
Interest from Other Investments $0
Total Dividends $22,365
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 $64,012
Other Income $0
Expenses $334,268
Total Benefit Payments $331,240
Directly to participants or beneficiaries, including direct rollovers $331,240
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $3,028
Interest expense $0
Total Administrative Expenses $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-193,061
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2016 12/31/2015 Change YOY
Total Assets $925,231 $1,118,292 -17.26%
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 $20,572 $29,655 -30.63%
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 $904,659 $1,088,637 -16.90%
Value of funds held in insurance co. general account $0 $0 0.0%
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 $925,231 $1,118,292 -17.26%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Adp, LLC
  • Allianz Global Investors Distributo
  • Blackrock Investments, Inc.
  • Delaware Investments
  • Eaton Vance Distributors, Inc.
  • Franklin Templeton Distributors, In
  • Invesco Distributors, Inc.
  • J.P. Morgan Investment Management
  • Legg Mason Investor Services, LLC
  • Lord Abbett Distributor, LLC
  • Mfs Fund Distributors, Inc.
  • Oppenheimer Funds Inc.
  • Prudential Investments LLC
  • Putnam Retail Management
  • Thornburg Securities Corporation

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
Merrill Lynch Pierce Fenner & Smith Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Distribution (12b-1) fees Investment Advisor $0 $8,932 $8,932
Adp Broker-Dealer Other services, Other fees Record Keeper $0 $0 $0
Total $0 $8,932 $8,932

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Merrill Lynch Pierce Fenner & Smith Unavailable Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Distribution (12b-1) fees Investment Management Fees Paid Indirectly By Plan Shareholder Servicing Fees Sub-Transfer Agency Fees Distribution (12B-1) Fees $8,932
Adp Broker-Dealer Allianz Global Investors Distributo Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Blackrock Investments, Inc. Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Delaware Investments Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Eaton Vance Distributors, Inc. Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Franklin Templeton Distributors, In Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Invesco Distributors, Inc. Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer J.P. Morgan Investment Management Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Legg Mason Investor Services, LLC Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Lord Abbett Distributor, LLC Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Mfs Fund Distributors, Inc. Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Oppenheimer Funds Inc. Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Prudential Investments LLC Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Putnam Retail Management Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $0
Adp Broker-Dealer Thornburg Securities Corporation Other fees Annual Rate 0.00260 of Average Daily Assets-A Shrs Annual Rate 0.00325 of Average Daily Assets-C Shrs Annual Rate 0.00150 of Average Daily Assets-I Shrs Annual Rate 0.00275 of Average Daily Assets-R Shrs $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

Name Position Explanation
Rosenberg Zach & Co. LLP Accountant Termination

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.