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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1976
  • Net Assets as of 12/31/2017 $5,582,471,582
  • 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
  • Report Description This is an amended report.
  • Plan Funding ArrangementInsurance
  • Plan Benefit ArrangementInsurance

Participant Information as of 12/31/2017

  • Active (Eligible) Participants44,288
  • Retired or separated participants receiving benefits892
  • Other retired or separated participants entitled to future benefits10,044
  • Subtotal55,224
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits166
  • Total55,390
  • Total number of participants as of 01/01/201751,645
  • Number of participants with account balances55,390
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1,320

Expenses

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

Sponsor Information

  • Address972 Brush Hollow Road 5th Floor
  • CityWestbury
  • StateNY
  • Zip11590-1740
  • Telephone(516) 734-7000
  • EIN11-2241326
  • Industry Code622000
  • Named AdministratorMichele Cusack

Audit Information

  • Audit StatusAudited
  • AuditorErnst & Young, LLP
  • Auditor EIN34-6565596
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2L Code section 403(b)(1) arrangement A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
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 $40,000,000
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 $1,241,985,493
Contributions $518,814,922
Cash Contributions $518,814,922
Cash from Employers $142,361,226
Cash from Participants $306,070,700
Others (including rollovers) $70,382,996
Noncash Contributions $0
Total Earnings on Investments $720,590,060
Total Interest $3,487,097
Interest-Bearing Cash $1,107
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $3,389,485
Interest from Other Investments $96,505
Total Dividends $67,528,505
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 $24,163,760
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 $625,410,698
Other Income $2,580,511
Expenses $204,322,710
Total Benefit Payments $192,568,731
Directly to participants or beneficiaries, including direct rollovers $192,568,731
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $128,866
Certain deemed distributions of participant loans $6,492,181
Interest expense $0
Total Administrative Expenses $5,132,932
Professional Fees $0
Contract Administrator Fees $4,898,034
Investment Advisory and management fees $234,898
Other Administrative Fees $0
Net Income $1,037,662,783
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $5,582,471,582 $4,544,808,799 22.83%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $21,026,293 $18,637,890 12.81%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $21,026,293 $18,637,890 12.81%
General Investments $1,985,681 $2,430,693 -18.31%
Interest-bearing cash $1,985,681 $2,430,693 -18.31%
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 $87,077,163 $79,345,531 9.74%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $6,133,580 $5,596,125 9.60%
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 $4,497,613,318 $3,513,959,578 27.99%
Value of funds held in insurance co. general account $956,917,819 $912,055,093 4.92%
Other Investments $11,717,728 $12,783,889 -8.34%
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 $5,582,471,582 $4,544,808,799 22.83%

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees NONE $4,898,034 $0 $4,898,034
Rocaton Investment Advisors Investment advisory (plan), Direct payment from the plan NONE $234,898 $0 $234,898
Total $5,132,932 $0 $5,132,932

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
National Financial Services Lazard Securities brokerage, Securities brokerage commissions and fees Revenue Sharing $0
National Financial Services Morgan Stanley Securities brokerage, Securities brokerage commissions and fees Revenue Sharing $0
Prudential Ins. Co. of America Prudential Ins. Co. of America Recordkeeping and information management (computing, tabulating, data processing, etc.), Other services 45.0 - 100.0 Bps $-1,864
*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
Metropolitan Fixed Interest Metropolitan Life Insurance Company DFE: Pooled Separate Account $956,917,819
Total $956,917,819

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Metlife 55,390
EIN 13-5581829
Industry Code 65978
Contract Number 32979
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $957,310,073
Value in Separate Accounts at Year End $0
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 Investment
Balance at the end of the previous year $912,129,342
Additions $90,802,005
Contributions Deposited during the year $66,644,176
Dividends and credits $0
Interest credited during the year $24,157,829
Transferred from separate account $0
Other $0
Total of Balance and Additions $1,002,931,347
Deductions $45,621,274
Disbursed from fund to pay benefits or purchase annuities during the year $45,621,274
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $957,310,073
Prudential Insurance Company of America 518
EIN 22-1211670
Industry Code 68241
Contract Number 006945
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $6,320,276
Value in Separate Accounts at Year End $4,401,118
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 Unspecified
Balance at the end of the previous year $6,548,008
Additions $313,586
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $189,737
Transferred from separate account $117,906
Other $5,943
Total of Balance and Additions $6,861,594
Deductions $541,318
Disbursed from fund to pay benefits or purchase annuities during the year $529,153
Administration charge made by carrier $6,321
Transferred to Separate Account $1,361
Other $4,483
Balance at the end of the current year $6,320,276
Sunamerica 328
EIN 52-0502540
Industry Code 60941
Contract Number 1664A
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $5,408,408
Value in Separate Accounts at Year End $0
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 GROUP ANNUITY CONTRACTS
Balance at the end of the previous year $5,349,011
Additions $200,282
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $199,966
Transferred from separate account $316
Other $0
Total of Balance and Additions $5,549,293
Deductions $140,885
Disbursed from fund to pay benefits or purchase annuities during the year $140,885
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $5,408,408
Transamerica Financial Life Insurance Company 154
EIN 36-6071399
Industry Code 70688
Contract Number L755E026
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $2,813,996
Value in Separate Accounts at Year End $1,366,434
Insurance Fees and Commissions $20,100
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Healthcare Comm Securities Corp. One Empire Drive Rensselaer, NY 12144 Insurance Agent or Broker $20,100 $0 AGENT/BROKER COMPENSATION
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 Investment
Balance at the end of the previous year $2,863,306
Additions $96,297
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $96,297
Transferred from separate account $0
Other $0
Total of Balance and Additions $2,959,603
Deductions $145,607
Disbursed from fund to pay benefits or purchase annuities during the year $108,118
Administration charge made by carrier $40
Transferred to Separate Account $0
Other $37,449
Balance at the end of the current year $2,813,996
American General Life Insurance Company 143
EIN 52-0502540
Industry Code 60941
Contract Number 2082A
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $1,638,590
Value in Separate Accounts at Year End $366,028
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $1,988,483
Additions $60,396
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $60,396
Transferred from separate account $0
Other $0
Total of Balance and Additions $2,048,879
Deductions $410,289
Disbursed from fund to pay benefits or purchase annuities during the year $410,289
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $1,638,590
Lincoln National Life Insurance Company 83
EIN 35-0472300
Industry Code 65676
Contract Number 093455-030
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $1,224,271
Value in Separate Accounts at Year End $0
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 Investment
Balance at the end of the previous year $1,226,420
Additions $47,542
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $41,838
Transferred from separate account $0
Other $5,704
Total of Balance and Additions $1,273,962
Deductions $49,691
Disbursed from fund to pay benefits or purchase annuities during the year $44,331
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $5,360
Balance at the end of the current year $1,224,271
Mony Life Insurance Company 3
EIN 13-1632487
Industry Code 66370
Contract Number L785E026
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $6,149
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $8
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Healthcare Comm Securities Corp. One Empire Drive Rensselaer, NY 12144 Insurance Agent or Broker $8 $0 AGENT/BROKER COMPENSATION
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 Investment
Balance at the end of the previous year $14,864
Additions $208
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $208
Transferred from separate account $0
Other $0
Total of Balance and Additions $15,072
Deductions $8,923
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 $8,923
Balance at the end of the current year $6,149