Back to top

Overview

Plan Information

  • Plan Year04/01/2014 — 03/31/2015
  • Date of Plan03/31/1965
  • Net Assets as of 03/31/2015 $279,399,868
  • Plan Number1
  • Plan Type Multiple Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 03/31/2015

  • Active (Eligible) Participants1,764
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits784
  • Subtotal2,548
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total2,548
  • Total number of participants as of 04/01/20141,968
  • Number of participants with account balances2,193
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested152

Expenses

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

Sponsor Information

  • Address245 Park Avenue
  • CityNew York
  • StateNY
  • Zip10154
  • Telephone(212) 450-2000
  • EIN13-1922622
  • Industry Code711210
  • Named AdministratorJosh Schlitzer
  • Named Plan SponsorJosh Schlitzer

Audit Information

  • Audit StatusAudited
  • AuditorDeloitte & Touche, LLP
  • Auditor EIN13-3891517
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
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.
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.

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? Yes
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 $33,917,748
Contributions $21,457,067
Cash Contributions $21,457,067
Cash from Employers $21,457,067
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $12,455,247
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $1,715
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 $12,453,532
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 $0
Other Income $5,434
Expenses $14,928,469
Total Benefit Payments $14,928,469
Directly to participants or beneficiaries, including direct rollovers $14,926,579
To insurance carriers for the provision of benefits $1,890
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
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 $18,989,279
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

03/31/2015 03/31/2014 Change YOY
Total Assets $279,399,868 $260,410,589 7.29%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $35,510 $20,129 76.41%
Employer Contributions $35,350 $20,044 76.36%
Participant Contributions $0 $0 0.0%
Other Contributions $160 $85 88.24%
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 $0 $0 0.0%
Value of interest in common/collective trusts $251,967,190 $233,598,659 7.86%
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 $27,264,136 $26,664,203 2.25%
Value of funds held in insurance co. general account $133,032 $127,598 4.26%
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 $279,399,868 $260,410,589 7.29%

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
Pimco Investment management, Investment management fees paid directly by plan NONE $101,762 $0 $101,762
Fisher Investments Investment management, Investment management fees paid directly by plan, Soft dollars commissions NONE $65,421 $0 $65,421
Stw Fixed Income Management LLC Investment management, Investment management fees paid directly by plan NONE $55,127 $0 $55,127
D.E. Shaw Investment Management LLC Investment management, Investment management fees paid directly by plan, Soft dollars commissions NONE $45,794 $0 $45,794
Hs Management Partners, LLC Investment management, Investment management fees paid directly by plan, Soft dollars commissions NONE $45,605 $0 $45,605
Pnc Bank Trustee (directed), Investment management, Direct payment from the plan, Investment management fees paid indirectly by plan NONE $41,790 $0 $41,790
Cambridge Associates, LLC Investment advisory (plan), Named fiduciary, Direct payment from the plan NONE $34,612 $0 $34,612
Institutional Capital LLC Investment management, Investment management fees paid directly by plan, Soft dollars commissions NONE $21,566 $0 $21,566
Snyder Capital Management, L.P. Investment management, Investment management fees paid directly by plan, Soft dollars commissions, Securities brokerage commissions and fees NONE $16,701 $0 $16,701
Columbus Circle Investors Investment management, Investment management fees paid directly by plan, Soft dollars commissions NONE $13,089 $0 $13,089
Lsv Asset Management Investment management, Investment management fees paid directly by plan NONE $11,290 $0 $11,290
Aon Hewitt Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Participant loan processing, Participant communication, Direct payment from the plan, Other commissions, Recordkeeping fees NONE $7,401 $0 $7,401
Total $460,158 $0 $460,158

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
Common/Collective Trust of Nflrt Pnc Bank, Na DFE: Common/Collective Trust $251,967,190
Total $251,967,190

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Metropolitan Life Insurance Company 3
EIN 13-5581829
Industry Code 65978
Contract Number 9331000
Contract Year 04/01/2014 — 03/31/2015
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $95
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
New England Financial 1095 Avenue of The Americas New York, NY 10036 Insurance Agent or Broker $95 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates See Attachment
Premiums paid to carrier $1,890
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0