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FORM 5500 DATA

A.G. Ship Maintenance Corp. 401k Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2009 — 12/31/2009
  • Date of Plan03/01/1993
  • Net Assets as of 12/31/2009 $1,672,798
  • Plan Number3
  • 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 12/31/2009

  • Active (Eligible) Participants154
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits36
  • Subtotal190
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total190
  • Total number of participants as of 01/01/2009208
  • Number of participants with account balances63
  • 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

  • Address99 Chapel Street
  • CityNewark
  • StateNJ
  • Zip07105
  • Telephone(973) 589-4400
  • EIN11-2110636
  • Industry Code238900
  • Named AdministratorSusan Ruiz

Plan Administrator Information

  • Administrator NameAg Ship Maintenance Corp
  • Address99 Chapel Street
  • CityNewark
  • StateNJ
  • Zip07105
  • Telephone(973) 589-4400
  • Administrator EIN11-2110636

Audit Information

  • Audit StatusAudited
  • AuditorPollan, Mauner and Wess
  • Auditor EIN11-2992489
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $144,000
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 $308,297
Contributions $178,292
Cash Contributions $178,292
Cash from Employers $0
Cash from Participants $178,292
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $130,005
Total Interest $4,731
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,731
Interest from Other Investments $0
Total Dividends $11,910
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 $22,434
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 $90,930
Other Income $0
Expenses $73,720
Total Benefit Payments $72,662
Directly to participants or beneficiaries, including direct rollovers $72,662
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 $1,058
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $1,058
Net Income $234,577
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2009 12/31/2008 Change YOY
Total Assets $1,672,798 $1,438,221 16.31%
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 $78,401 $63,685 23.11%
Value of interest in common/collective trusts $1,010,809 $908,875 11.22%
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 $583,588 $465,661 25.32%
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 $1,672,798 $1,438,221 16.31%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Allianz Global Investors Distributo
  • Alliancebernstein L.P.
  • Blackrock Investments, Inc.
  • Davis Distributors, LLC
  • Fred Alger & Company, Incorporated
  • Franklin Templeton Distributors, In
  • Mfs Fund Distributors, Inc.
  • Oppenheimer Funds Inc.
  • Allianz Global Investors Distributo
  • Riversource Distributors, Inc.
  • Guardian Investor Services, LLC
  • Thornburg Securities Corporation
  • T. Rowe Price

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
State Street Corporation Trustee (directed), Recordkeeping fees, Investment management fees paid indirectly by plan Directed Trustee/Custodia $0 $8,712 $8,712
ADP Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees, Investment advisory (participants), Investment management fees paid indirectly by plan, Direct payment from the plan Record Keeper $1,057 $0 $1,057
Adp Broker-Dealer Sub-transfer agency fees, Other fees, Distribution (12b-1) fees Record Keeper $0 $0 $0
Total $1,057 $8,712 $9,769

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Adp Broker-Dealer Blackrock Investments, Inc. Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer Fred Alger & Company, Incorporated Sub-transfer agency fees, Other fees Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer Davis Distributors, LLC Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.002 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer Franklin Templeton Distributors, In Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0015 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.0015 of Average Daily Assets. $0
Adp Broker-Dealer Allianz Global Investors Distributo Sub-transfer agency fees Annual Rate 0.002 of Average Daily Assets. $0
Adp Broker-Dealer Pioneer Investment Management, Inc Distribution (12b-1) fees Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer Guardian Investor Services, LLC Sub-transfer agency fees Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer Oppenheimer Funds Inc. Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.005 of Average Daily Assets. $0
Adp Broker-Dealer Thornburg Securities Corporation Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0025 of Average Daily Assets. Annual Rate 0.005 of Average Daily Assets. $0
Adp Broker-Dealer T. Rowe Price Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0015 of Average Daily Assets. Annual Rate 0.0025 of Average Daily Assets. $0
Adp Broker-Dealer State Street Corporation Other fees Annual Rate 0.0055 of Average Daily Assets. Annual Rate 0.0062 of Average Daily Assets. Annual Rate 0.0067 of Average Daily Assets. Annual Rate 0.0068 of Average Daily Assets. Annual Rate 0.0076 of Average Daily Assets. $0
Adp Broker-Dealer Mfs Fund Distributors, Inc. Sub-transfer agency fees, Distribution (12b-1) fees Annual Rate 0.0015 of Average Daily Assets. Annual Rate 0.005 of Average Daily Assets. $0
State Street Corporation ADP Recordkeeping fees, Investment management fees paid indirectly by plan Perform A Year-End Allocation Based On Total $ / Total # of Plans as of 12/31 With Each Ssga Investment and Apply .5 To Amount. $8,712
*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
Ssga Stable Value Fund State Street Bank and Trust Co DFE: Common/Collective Trust $963,391
Ssga S&P 500 Index Fund State Street Bank and Trust Co DFE: Common/Collective Trust $18,217
Ssga S&P Midcap Index State Street Bank and Trust Co DFE: Common/Collective Trust $10,308
Ssga Us Bond Index State Street Bank and Trust Co DFE: Common/Collective Trust $7,974
Ssga/Tuckerman Reit Index State Street Bank and Trust Co DFE: Common/Collective Trust $5,665
Ssga Russell Small Cap Index State Street Bank and Trust Co DFE: Common/Collective Trust $5,253
Total $1,010,808

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.