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FORM 5500 DATA

Medisys Health Network, Inc. 403(b) Plan

Overview

Plan Information

  • Plan Year01/01/2014 — 12/31/2014
  • Date of Plan01/01/2003
  • Net Assets as of 12/31/2014 $177,601,233
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • 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 12/31/2014

  • Active (Eligible) Participants5,585
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits620
  • Subtotal6,205
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total6,205
  • Total number of participants as of 01/01/20146,053
  • Number of participants with account balances2,785
  • 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

  • Address8900 Van Wyck Expressway
  • CityJamaica
  • StateNY
  • Zip11418
  • Telephone(718) 206-6700
  • EIN11-3316802
  • Industry Code622000
  • Named AdministratorMounir F. Doss

Audit Information

  • Audit StatusAudited
  • AuditorCohnreznick LLP
  • Auditor EIN22-1478099
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
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.
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.

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? Yes $3,722,063
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 $46,564,521
Contributions $35,618,724
Cash Contributions $35,618,724
Cash from Employers $2,344,432
Cash from Participants $12,925,215
Others (including rollovers) $20,349,077
Noncash Contributions $0
Total Earnings on Investments $10,945,797
Total Interest $167,161
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $167,161
Interest from Other Investments $0
Total Dividends $10,339,069
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 $2,250,564
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 $-1,810,997
Other Income $0
Expenses $12,949,392
Total Benefit Payments $12,894,840
Directly to participants or beneficiaries, including direct rollovers $12,894,840
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $4,706
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $49,846
Professional Fees $11,246
Contract Administrator Fees $38,600
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $33,615,129
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2014 12/31/2013 Change YOY
Total Assets $177,601,233 $143,986,104 23.35%
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 $3,773,361 $3,266,648 15.51%
Value of interest in common/collective trusts $58,822,243 $45,141,804 30.31%
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 $115,005,629 $95,577,652 20.33%
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 $177,601,233 $143,986,104 23.35%

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
Newport Retirement Services, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Recordkeeping fees, Claims processing, Direct payment from the plan, Participant loan processing, Sub-transfer agency fees NONE $38,600 $211,837 $250,437
Wilmington Trust Claims processing, Custodial (securities), Account maintenance fees NONE $0 $54,193 $54,193
Cohnreznick LLP Accounting (including auditing), Direct payment from the plan NONE $11,246 $0 $11,246
Royal Alliance Associates, Inc. Securities brokerage, Distribution (12b-1) fees NONE $0 $0 $0
Total $49,846 $266,030 $315,876

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Newport Retirement Services, Inc. Wilmington Trust Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees Revenue Sharing Used To Offset Plan Expenses $211,837
Wilmington Trust Newport Retirement Services, Inc. Claims processing, Custodial (securities), Account maintenance fees Trust Trade Partner/Custodian Fees for Plan Year $54,193
Royal Alliance Associates, Inc. American Funds Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Blackrock Inc. Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Columbia Funds Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Eaton Vance Management Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Invesco Funds Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Jpmorgan Funds Securities brokerage, Distribution (12b-1) fees 25 Basis Points of Fund Value $0
Royal Alliance Associates, Inc. Oppenheimerfunds Securities brokerage, Distribution (12b-1) fees 24-25 Basis Points of Fund Value $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
Tflic Guaranteed Pooled Fund Wells Fargo Bank, N.A. DFE: Common/Collective Trust $58,822,243
Total $58,822,243

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.