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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1998
  • Net Assets as of 12/31/2017 $531,236,483
  • Plan Number2
  • 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) Participants2,255
  • Retired or separated participants receiving benefits5
  • Other retired or separated participants entitled to future benefits1,137
  • Subtotal3,397
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits26
  • Total3,423
  • Total number of participants as of 01/01/20173,383
  • Number of participants with account balances3,344
  • 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

  • AddressC/O Tax Department 601 E Street, NW
  • CityWashington
  • StateDC
  • Zip20049
  • Telephone(202) 434-7578
  • EIN95-1985500
  • Industry Code813000
  • Named AdministratorScott Frisch
  • Named Plan SponsorScott Frisch

Plan Administrator Information

  • Administrator NameAarp Benefits Committee
  • AddressC/O Tax Department 601 E Street, NW
  • CityWashington
  • StateDC
  • Zip20049-0001
  • Telephone(202) 434-7678
  • Administrator EIN95-1985500

Audit Information

  • Audit StatusAudited
  • AuditorGrant Thornton
  • Auditor EIN36-6055558
  • 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.

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 $10,000,000
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 $124,455,437
Contributions $40,032,770
Cash Contributions $40,032,770
Cash from Employers $11,664,758
Cash from Participants $24,522,462
Others (including rollovers) $3,845,550
Noncash Contributions $0
Total Earnings on Investments $84,422,667
Total Interest $248,262
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $248,262
Interest from Other Investments $0
Total Dividends $9,403,312
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 $23,912,137
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 $50,858,956
Other Income $0
Expenses $29,123,040
Total Benefit Payments $28,940,099
Directly to participants or beneficiaries, including direct rollovers $28,940,099
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 $182,941
Professional Fees $46,240
Contract Administrator Fees $0
Investment Advisory and management fees $79,311
Other Administrative Fees $57,390
Net Income $95,332,397
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 $531,236,483 $435,904,086 21.87%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $936,376 $850,623 10.08%
Employer Contributions $936,376 $850,623 10.08%
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 $6,091,789 $5,167,696 17.88%
Value of interest in common/collective trusts $329,699,052 $84,903,142 288.32%
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 $194,509,266 $344,982,625 -43.62%
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 $531,236,483 $435,904,086 21.87%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • State Street Global Advisors

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
T Rowe Price Participant loan processing, Participant communication, Redemption fees, Other fees NONE $23,197 $167,728 $190,925
William Mercer Consulting (general) NONE $79,311 $0 $79,311
Grant Thornton Accounting (including auditing) NONE $46,240 $0 $46,240
Willis Towers Watson Consulting (general) NONE $34,193 $0 $34,193
Total $182,941 $167,728 $350,669

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
T Rowe Price Retirement 2030 Fund T Rowe Price DFE: Common/Collective Trust $44,109,774
T Rowe Price Stable Value Fund T Rowe Price DFE: Common/Collective Trust $42,238,261
T Rowe Price Retirement 2020 Fund T Rowe Price DFE: Common/Collective Trust $38,465,602
T Rowe Price Retirement 2025 Fund T Rowe Price DFE: Common/Collective Trust $37,372,500
T Rowe Price Retirement 2035 Fund T Rowe Price DFE: Common/Collective Trust $35,848,234
T Rowe Price Retirement 2040 Fund T Rowe Price DFE: Common/Collective Trust $27,880,282
Ssga S&P 500 Index Class C State Street Bank & Trust Company DFE: Common/Collective Trust $26,081,104
Prudential Core Plus Bond Fund Prudential DFE: Common/Collective Trust $19,297,650
T Rowe Price Retirement 2015 Fund T Rowe Price DFE: Common/Collective Trust $17,129,228
T Rowe Price Retirement 2045 Fund T Rowe Price DFE: Common/Collective Trust $15,584,472
Ssga Us Bond Index Class C State Street Bank & Trust Company DFE: Common/Collective Trust $7,664,930
T Rowe Price Retirement 2050 Fund T Rowe Price DFE: Common/Collective Trust $7,159,664
Ssga Global Equity Ex Us Fund State Street Bank & Trust Company DFE: Common/Collective Trust $3,451,400
T Rowe Price Retirement 2010 Fund T Rowe Price DFE: Common/Collective Trust $2,568,593
T Rowe Price Retirement 2055 Fund T Rowe Price DFE: Common/Collective Trust $1,973,264
T Rowe Price Retirement 2005 Fund T Rowe Price DFE: Common/Collective Trust $1,333,839
T Rowe Price Retirement Income Fund T Rowe Price DFE: Common/Collective Trust $1,299,630
T Rowe Price Retirement 2060 Fund T Rowe Price DFE: Common/Collective Trust $240,625
Total $329,699,052

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.