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FORM 5500 DATA

Westchester County Chapter Nysarc Inc. Tax Deferred Annuity Plan

Overview

Plan Information

  • Plan Year01/01/2013 — 12/31/2013
  • Date of Plan09/01/1988
  • Net Assets as of 12/31/2013 $34,170,979
  • 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 12/31/2013

  • Active (Eligible) Participants903
  • Retired or separated participants receiving benefits7
  • Other retired or separated participants entitled to future benefits94
  • Subtotal1,004
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits11
  • Total1,015
  • Total number of participants as of 01/01/20131,011
  • Number of participants with account balances964
  • 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

Audit Information

  • Audit StatusAudited
  • AuditorBdo USA LLP
  • Auditor EIN13-5381590
  • 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 $6,913,511
Contributions $2,597,790
Cash Contributions $2,597,790
Cash from Employers $1,177,393
Cash from Participants $1,355,665
Others (including rollovers) $64,732
Noncash Contributions $0
Total Earnings on Investments $4,313,651
Total Interest $338,713
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $12,005
Interest from Other Investments $326,708
Total Dividends $306,529
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 $3,668,409
Other Income $2,070
Expenses $1,621,213
Total Benefit Payments $1,487,867
Directly to participants or beneficiaries, including direct rollovers $1,487,867
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $109,805
Interest expense $0
Total Administrative Expenses $23,541
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $23,541
Net Income $5,292,298
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2013 12/31/2012 Change YOY
Total Assets $34,170,979 $28,878,681 18.33%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,177,393 $1,135,662 3.67%
Employer Contributions $1,177,393 $1,135,662 3.67%
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 $501,432 $455,026 10.20%
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 $22,686,251 $18,158,961 24.93%
Value of funds held in insurance co. general account $9,756,839 $9,082,038 7.43%
Other Investments $49,064 $46,994 4.40%
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 $34,170,979 $28,878,681 18.33%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions
  • 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), Insurance services, Insurance brokerage commissions and fees Broker $0 $26,193 $26,193
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 Record Keeper $22,069 $0 $22,069
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Charles Schwab & Co., Inc. Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $22,069 $26,193 $48,262

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Transamerica Retirement Solutions American Funds 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 Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Columbia 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 Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Jp Morgan 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 Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions Royce 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 Revenue Sharing See Attachment To Line 2(H) $0
Transamerica Retirement Solutions T Rowe Price 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 Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services American Funds Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Columbia Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Jp Morgan Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Royce Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services T Rowe Price Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
Charles Schwab & Co., Inc. Cohen & Steers Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Fidelity Investments Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.10% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Guinness Atkinson Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Ridgeworth Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.35% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Schwab Funds Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.25% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Tocqueville Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.40% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. World Funds, Inc Securities brokerage, Securities brokerage commissions and fees Shareholder Servicing Rate of 0.10% of Average Daily Balance of Asset(S) $0
Cammack Larhette Brokerage, Inc. Transamerica Retirement Solutions Consulting (general), Insurance services, Insurance brokerage commissions and fees Commissions $26,193
*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, LLP Auditor

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 791
EIN 36-6071399
Industry Code 70688
Contract Number TA068864
Contract Year 01/01/2013 — 12/31/2013
Value in General Account at Year End $7,096,242
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $8,749
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Cammack Larhette Brokerage, Inc 2 Rector Street New York, NY 10006 Insurance Agent or Broker $8,749 $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 Guaranteed Investment
Balance at the end of the previous year $6,482,322
Additions $1,151,966
Contributions Deposited during the year $638,785
Dividends and credits $0
Interest credited during the year $235,960
Transferred from separate account $0
Other $277,221
Total of Balance and Additions $7,634,288
Deductions $538,046
Disbursed from fund to pay benefits or purchase annuities during the year $283,205
Administration charge made by carrier $10,172
Transferred to Separate Account $0
Other $244,669
Balance at the end of the current year $7,096,242
Metlife Insurance Company 262
EIN 06-0566090
Industry Code 87726
Contract Number 907808
Contract Year 01/01/2013 — 12/31/2013
Value in General Account at Year End $2,217,706
Value in Separate Accounts at Year End $1,023,210
Insurance Fees and Commissions $10,699
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Metlife Securities, Inc 1095 Avenues of The Americas New York, NY 10036 Insurance Agent or Broker $10,699 $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 $2,248,108
Additions $187,736
Contributions Deposited during the year $104,905
Dividends and credits $0
Interest credited during the year $76,951
Transferred from separate account $5,880
Other $0
Total of Balance and Additions $2,435,844
Deductions $218,138
Disbursed from fund to pay benefits or purchase annuities during the year $199,539
Administration charge made by carrier $0
Transferred to Separate Account $18,599
Other $0
Balance at the end of the current year $2,217,706
Metlife Insurance Company 29
EIN 06-0566090
Industry Code 87726
Contract Number 071755
Contract Year 01/01/2013 — 12/31/2013
Value in General Account at Year End $442,891
Value in Separate Accounts at Year End $312,282
Insurance Fees and Commissions $3,660
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Metlife Securities Inc 1095 Avenue of The Americas New York, NY 10036 Insurance Agent or Broker $3,660 $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 $351,608
Additions $95,229
Contributions Deposited during the year $81,346
Dividends and credits $0
Interest credited during the year $13,796
Transferred from separate account $87
Other $0
Total of Balance and Additions $446,837
Deductions $3,946
Disbursed from fund to pay benefits or purchase annuities during the year $3,946
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $442,891