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FORM 5500 DATA

Westchester County Chapter Nysarc Inc. Tax Deferred Annuity Plan

Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan09/01/1988
  • Net Assets as of 12/31/2011 $25,284,165
  • 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 12/31/2011

  • Active (Eligible) Participants888
  • Retired or separated participants receiving benefits4
  • Other retired or separated participants entitled to future benefits75
  • Subtotal967
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits7
  • Total974
  • Total number of participants as of 01/01/2011952
  • Number of participants with account balances974
  • 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

  • Address265 Saw Mill River Rd
  • CityHawthorne
  • StateNY
  • Zip10532
  • Telephone(914) 428-8330
  • EIN13-1740065
  • Industry Code813000
  • Named AdministratorNorman Szymanski

Plan Administrator Information

  • Administrator NameWestchester County Chapter Nysarc Inc.
  • Address265 Saw Mill River Rd
  • CityHawthorne
  • StateNY
  • Zip10532
  • Telephone(914) 428-8330
  • Administrator EIN13-1740065

Audit Information

  • Audit StatusAudited
  • AuditorO'Connor Davies, LLP
  • Auditor EIN27-1728945
  • 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.
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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? 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 $2,257,289
Contributions $2,341,760
Cash Contributions $2,341,760
Cash from Employers $1,095,773
Cash from Participants $1,136,000
Others (including rollovers) $109,987
Noncash Contributions $0
Total Earnings on Investments $-82,798
Total Interest $285,905
Interest-Bearing Cash $15
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $13,572
Interest from Other Investments $272,318
Total Dividends $210,364
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 $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 $-579,067
Other Income $-1,673
Expenses $1,474,840
Total Benefit Payments $1,364,044
Directly to participants or beneficiaries, including direct rollovers $1,364,044
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $91,030
Interest expense $0
Total Administrative Expenses $19,766
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $19,766
Net Income $782,449
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $25,284,165 $24,501,716 3.19%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,138,170 $1,096,347 3.81%
Employer Contributions $1,095,773 $1,090,038 0.53%
Participant Contributions $42,397 $0 0.0%
Other Contributions $0 $6,309 0.0%
General Investments $3,300 $3,285 0.46%
Interest-bearing cash $3,300 $3,285 0.46%
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 $451,000 $536,294 -15.90%
Value of interest in common/collective trusts $0 $0 0.0%
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 $15,308,301 $15,319,504 -0.07%
Value of funds held in insurance co. general account $8,348,278 $7,509,497 11.17%
Other Investments $35,116 $36,789 -4.55%
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 $25,284,165 $24,501,716 3.19%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Diversified Retirement Corporation
  • Metlife Insurance Company
  • Charles Schwab & Co., Inc.

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
Cammack Larhette Brokerage Consulting (general) Broker $0 $33,648 $33,648
Diversified Retirement Corporation 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 Recordkeeper $18,050 $0 $18,050
Charles Schwab & Co., Inc. Securities brokerage Securities Broker $35 $0 $35
National Financial Services Securities brokerage Securities Broker $0 $0 $0
Total $18,085 $33,648 $51,733

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Cammack Larhette Brokerage Diversified Retirement Corporation Consulting (general) Commissions $33,648
Charles Schwab & Co., Inc. Cohen & Steers Securities brokerage Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Guinness Atkinson Securities brokerage Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Lazard Securities brokerage Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Matthews Asia Funds Securities brokerage Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Schwab Funds Securities brokerage Rate of 0.25% of Average Daily Balance of Asset(S) $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

Name Position Explanation
O'Connor Davies Munns & Dobbins LLP Auditor O'Connor Davies Munns & Dobbins LLP Merged With Another Firm Which Caused Change In Name and Ein On Schedule H

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 777
EIN 36-6071399
Industry Code 70688
Contract Number TA068864
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $5,681,716
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 $4,835,136
Additions $1,265,795
Contributions Deposited during the year $477,521
Dividends and credits $0
Interest credited during the year $180,609
Transferred from separate account $0
Other $607,665
Total of Balance and Additions $6,100,931
Deductions $419,215
Disbursed from fund to pay benefits or purchase annuities during the year $292,877
Administration charge made by carrier $8,160
Transferred to Separate Account $0
Other $118,178
Balance at the end of the current year $5,681,716
Metlife Insurance Company 279
EIN 06-0566090
Industry Code 87726
Contract Number 907808
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $2,259,086
Value in Separate Accounts at Year End $766,533
Insurance Fees and Commissions $6,846
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Citistreet Equities LLC 80 Grasslands Rd Elmsford, NY 10523 Insurance Agent or Broker $5,541 $0
Citistreet Equities LLC Metlife Attn Mlr Compensation Somerset, NJ 08873 Insurance Agent or Broker $1,198 $0
Metlife Associates LLC 24 Woodlake Dr Croton On Hudso, NY 10520 Insurance Agent or Broker $102 $0
Metlife Associates 7 Jamie Ln Stormville, NY 12582 Insurance Agent or Broker $2 $0
Metlife Associates LLC 565 Taxter Rd Elmsford, NY 10523 Insurance Agent or Broker $2 $0
Metlife Associates LLC 185 Asylum St Hartford, CT 06103 Insurance Agent or Broker $1 $0
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 $2,276,557
Additions $110,847
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $77,784
Transferred from separate account $0
Other $33,063
Total of Balance and Additions $2,387,404
Deductions $128,318
Disbursed from fund to pay benefits or purchase annuities during the year $117,894
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $10,424
Balance at the end of the current year $2,259,086
Metlife Insurance Company 31
EIN 06-0566090
Industry Code 87726
Contract Number 071755
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $407,476
Value in Separate Accounts at Year End $246,041
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 $397,804
Additions $17,917
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $13,923
Transferred from separate account $0
Other $3,994
Total of Balance and Additions $415,721
Deductions $8,245
Disbursed from fund to pay benefits or purchase annuities during the year $5,528
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $2,717
Balance at the end of the current year $407,476