Back to top

Overview

Plan Information

  • Plan Year07/01/2017 — 06/30/2018
  • Date of Plan07/01/1991
  • Net Assets as of 06/30/2018 $9,020,657
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 06/30/2018

  • Active (Eligible) Participants209
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits68
  • Subtotal278
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total278
  • Total number of participants as of 07/01/2017256
  • Number of participants with account balances202
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested10

Expenses

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

Sponsor Information

  • Address40 Arch Street
  • CityGreenwich
  • StateCT
  • Zip06830
  • Telephone(203) 869-4848
  • EIN06-0646656
  • Industry Code624100

Audit Information

  • Audit StatusAudited
  • AuditorCaron & Bletzer
  • Auditor EIN04-3499945
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.

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? 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 $1,485,534
Contributions $603,051
Cash Contributions $603,051
Cash from Employers $324,769
Cash from Participants $274,054
Others (including rollovers) $4,228
Noncash Contributions $0
Total Earnings on Investments $881,575
Total Interest $8,410
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $8,410
Interest from Other Investments $0
Total Dividends $0
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 $48,535
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 $824,630
Other Income $908
Expenses $773,212
Total Benefit Payments $768,798
Directly to participants or beneficiaries, including direct rollovers $768,798
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 $4,414
Professional Fees $0
Contract Administrator Fees $4,414
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $712,322
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2018 06/30/2017 Change YOY
Total Assets $9,020,657 $8,308,335 8.57%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $25,275 $25,426 -0.59%
Employer Contributions $14,801 $13,525 9.43%
Participant Contributions $10,474 $11,901 -11.99%
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 $200,453 $166,322 20.52%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $464,505 $471,844 -1.56%
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 $8,255,631 $7,484,049 10.31%
Value of funds held in insurance co. general account $74,793 $160,694 -53.46%
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 $9,020,657 $8,308,335 8.57%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Nationwide

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
Nationwide Direct payment from the plan, Investment management fees paid directly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees NONE $50,447 $0 $50,447
Morgan Stanley & Co. Other commissions NONE $0 $20,334 $20,334
Skcg Group Inc Participant loan processing, Other services, Direct payment from the plan NONE $10,721 $0 $10,721
Total $61,168 $20,334 $81,502

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Morgan Stanley Nationwide Other commissions $20,334
*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
Separate Account Funds Mutual of America DFE: Pooled Separate Account $464,505
Total $464,505

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America 0
EIN 13-1614399
Industry Code 88668
Contract Number 051539-E
Contract Year 07/01/2017 — 06/30/2018
Value in General Account at Year End $74,793
Value in Separate Accounts at Year End $464,505
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 Deposit Administration
Balance at the end of the previous year $160,694
Additions $908
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $908
Transferred from separate account $0
Other $0
Total of Balance and Additions $161,602
Deductions $86,809
Disbursed from fund to pay benefits or purchase annuities during the year $86,684
Administration charge made by carrier $125
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $74,793