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Board of Trustees NECA - IBEW Local Union No. 35 Annuity Fund

Plan Rating
FORM 5500 DATA

N.E.C.A. - I.B.E.W. Local Union No. 35 Annuity Fund

Overview

Plan Information

  • Plan Year06/01/2012 — 05/31/2013
  • Date of Plan06/01/1980
  • Net Assets as of 05/31/2013 $43,618,612
  • Plan Number1
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • 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 05/31/2013

  • Active (Eligible) Participants364
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits211
  • Subtotal578
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total578
  • Total number of participants as of 06/01/2012571
  • Number of participants with account balances578
  • 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 Insurance Programmers, Inc
  • CityWallingford
  • StateCT
  • Zip06492
  • Telephone(203) 269-7741
  • EIN06-0008934
  • Industry Code238210
  • Named AdministratorGerard J. Frame

Plan Administrator Information

  • Administrator NameBd of Trustees Neca-Ibew Local Union No 35 Annuity Fund
  • AddressC/O Insurance Programmers, Inc
  • CityWallingford
  • StateCT
  • Zip06492
  • Telephone(203) 269-7741
  • Administrator EIN06-0008934

Audit Information

  • Audit StatusAudited
  • AuditorBuckley, Frame, Boudreau & Co
  • Auditor EIN06-0931761
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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.

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 $2,000,000
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 $7,906,426
Contributions $3,030,348
Cash Contributions $3,030,348
Cash from Employers $3,030,348
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $4,812,069
Total Interest $416,126
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 $416,126
Total Dividends $245,979
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 $2,920,067
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 $1,229,897
Other Income $64,009
Expenses $3,559,431
Total Benefit Payments $3,440,101
Directly to participants or beneficiaries, including direct rollovers $3,440,101
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 $119,330
Professional Fees $32,456
Contract Administrator Fees $36,426
Investment Advisory and management fees $15,000
Other Administrative Fees $35,448
Net Income $4,346,995
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

05/31/2013 05/31/2012 Change YOY
Total Assets $43,626,011 $39,273,998 11.08%
Total noninterest-bearing cash $311,866 $262,325 18.89%
Receivables $416,499 $219,388 89.85%
Employer Contributions $412,303 $197,239 109.04%
Participant Contributions $0 $0 0.0%
Other Contributions $4,196 $22,149 -81.06%
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 $0 $0 0.0%
Value of interest in pooled separate accounts $11,689,395 $9,392,224 24.46%
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 $11,910,511 $11,072,148 7.57%
Value of funds held in insurance co. general account $19,297,740 $18,327,913 5.29%
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 $7,399 $2,381 210.75%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $7,399 $2,381 210.75%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $43,618,612 $39,271,617 11.07%

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
Insurance Programmers, Inc Contract Administrator, Plan Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Named fiduciary, Direct payment from the plan NONE $36,426 $0 $36,426
Prudential Retirement Ins & An Distribution (12b-1) fees, Account maintenance fees, Consulting fees, Custodial (securities) NONE $23,363 $0 $23,363
Robert M Cheverie & Assoc Legal, Direct payment from the plan NONE $20,042 $0 $20,042
Marco Consulting Investment advisory (plan), Direct payment from the plan NONE $15,000 $0 $15,000
Buckley, Frame, Boudreau Accounting (including auditing), Direct payment from the plan NONE $12,414 $0 $12,414
Total $107,245 $0 $107,245

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
Lge Cap Val/Lsv Asset Mgt Prudential Retirement Ins Co DFE: Pooled Separate Account $4,730,939
Small Cap Value/Integrity Prudential Retirement Ins Co DFE: Pooled Separate Account $3,432,862
Lge Cap Growth/Neuberg Prudential Retirement Ins Co DFE: Pooled Separate Account $1,996,899
Dryden S&P Index Fund Prudential Retirement Ins Co DFE: Pooled Separate Account $904,542
Internl Blend/Aqr Prudential Retirement Ins Co DFE: Pooled Separate Account $624,153
Total $11,689,395

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 578
EIN 06-1050034
Industry Code 93629
Contract Number 038491
Contract Year 06/01/2012 — 05/31/2013
Value in General Account at Year End $19,297,740
Value in Separate Accounts at Year End $11,689,395
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 GUARANTEED GENERAL ACCOUNT
Balance at the end of the previous year $18,327,913
Additions $3,575,711
Contributions Deposited during the year $910,262
Dividends and credits $0
Interest credited during the year $416,126
Transferred from separate account $1,391,291
Other $858,032
Total of Balance and Additions $21,903,624
Deductions $2,605,884
Disbursed from fund to pay benefits or purchase annuities during the year $1,334,752
Administration charge made by carrier $0
Transferred to Separate Account $897,360
Other $373,772
Balance at the end of the current year $19,297,740