Back to top
FORM 5500 DATA

Nippon Life Group Money Purchase Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2001
  • Net Assets as of 12/31/2019 $17,208,072
  • Plan Number100
  • 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 12/31/2019

  • Active (Eligible) Participants133
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits28
  • Subtotal161
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total162
  • Total number of participants as of 01/01/2019159
  • Number of participants with account balances161
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested8

Expenses

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

Sponsor Information

  • Address655 Third Ave 16th Floor
  • CityNew York
  • StateNY
  • Zip10017
  • Telephone(212) 909-0773
  • EIN04-2509896
  • Industry Code524140
  • Named AdministratorAudrey Tomlinson
  • Named Plan SponsorAudrey Tomlinson

Audit Information

  • Audit StatusAudited
  • AuditorJlk Rosenberger
  • Auditor EIN27-1532099
  • 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.
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 $3,000,000
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 $3,967,345
Contributions $1,189,805
Cash Contributions $1,189,805
Cash from Employers $1,189,805
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $2,772,642
Total Interest $2,357
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 $2,357
Total Dividends $26,642
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 $930,617
Net investment gain (loss) from pooled separate accounts $1,379,117
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 $433,909
Other Income $4,898
Expenses $1,018,887
Total Benefit Payments $1,015,985
Directly to participants or beneficiaries, including direct rollovers $1,015,985
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 $2,902
Professional Fees $0
Contract Administrator Fees $2,902
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $2,948,458
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 $17,208,072 $14,259,614 20.68%
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 $0 $0 0.0%
Value of interest in common/collective trusts $5,849,272 $4,618,109 26.66%
Value of interest in pooled separate accounts $8,935,999 $7,657,241 16.70%
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 $2,207,503 $1,731,422 27.50%
Value of funds held in insurance co. general account $215,298 $252,842 -14.85%
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 $17,208,072 $14,259,614 20.68%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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
Principal Life Insurance Company Contract Administrator, Direct payment from the plan, Recordkeeping fees Contract Administrator $2,902 $0 $2,902
Wilshire Associates Incorporated Investment advisory (plan), Other investment fees and expenses Investment Advisory $0 $0 $0
Total $2,902 $0 $2,902

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Wilshire Associates Incorporated Principal Life Insurance Company Investment advisory (plan), Other investment fees and expenses 1 Basis Point Annually On eligible Plan Assets In Wilshire 3(21) Or Wilshire 3(21) Auto-Execute Fiduciary Service. $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

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Prin U.S. Property Sa-I3 Principal Life Insurance Company DFE: Pooled Separate Account $2,035,229
Prin Lgcap S&P 500 Index Sa-I3 Principal Life Insurance Company DFE: Pooled Separate Account $1,787,397
Prin Lifetime Hyb 2030 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $1,776,869
Prin Lifetime Hyb 2020 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $1,594,225
Prin Lifetime Hyb 2050 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $1,146,163
Prin Lifetime Hyb 2040 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $909,926
Prin Midcap S&P 400 Idx Sa-I3 Principal Life Insurance Company DFE: Pooled Separate Account $755,370
Prin Intl Smallcap Sep Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $719,417
Prin Core Plus Bond Sep Act-I2 Principal Life Insurance Company DFE: Pooled Separate Account $705,666
Prin Liquid Assets Sep Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $614,814
Prin Smcap S&P 600 Index Sa-I3 Principal Life Insurance Company DFE: Pooled Separate Account $613,783
Prin Diversified Intl Sa-I1 Principal Life Insurance Company DFE: Pooled Separate Account $476,650
Prin Midcap Sep Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $470,618
Prin Govt&Hqbnd Sep Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $433,547
Morley Stable Value I Fund Principal Global Investors Trust Co DFE: Common/Collective Trust $238,477
Principal Smallcap Sep Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $198,800
Prin Lifetime Hyb 2060 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $183,612
Prin Smallcap Growth I Sa-I2 Principal Life Insurance Company DFE: Pooled Separate Account $124,707
Prin Lifetime Hyb 2010 Cit Z15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Total $14,785,270

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 162
EIN 42-0127290
Industry Code 61271
Contract Number 448964
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $215,298
Value in Separate Accounts at Year End $8,935,999
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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $260,337
Additions $28,449
Contributions Deposited during the year $3,388
Dividends and credits $0
Interest credited during the year $2,357
Transferred from separate account $22,704
Other $0
Total of Balance and Additions $288,786
Deductions $70,892
Disbursed from fund to pay benefits or purchase annuities during the year $67,658
Administration charge made by carrier $2,275
Transferred to Separate Account $959
Other $0
Balance at the end of the current year $217,894