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FORM 5500 DATA

403(b) Thrift Plan of AABR, Inc.

Overview

Plan Information

  • Plan Year07/01/2016 — 06/30/2017
  • Date of Plan07/01/2007
  • Net Assets as of 06/30/2017 $9,346,841
  • 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 06/30/2017

  • Active (Eligible) Participants799
  • Retired or separated participants receiving benefits7
  • Other retired or separated participants entitled to future benefits116
  • Subtotal922
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total923
  • Total number of participants as of 07/01/2016886
  • Number of participants with account balances559
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested24

Expenses

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

Sponsor Information

  • Address1508 College Point Blvd.
  • CityCollege Point
  • StateNY
  • Zip11356
  • Telephone(718) 321-3800
  • EIN13-1968035
  • Industry Code624100
  • Named AdministratorMary Bosnack

Audit Information

  • Audit StatusAudited
  • AuditorLoeb and Troper LLP
  • Auditor EIN13-1517563
  • 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.
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.
3C Plan not intended to be qualified A plan not intended to be qualified under Code sections 401, 403, or 408.
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.

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 $88,722
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 $1,498,347
Contributions $633,477
Cash Contributions $633,477
Cash from Employers $313,479
Cash from Participants $319,998
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $864,870
Total Interest $70,045
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $13,174
Interest from Other Investments $56,871
Total Dividends $153,268
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 $41,016
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 $600,541
Other Income $0
Expenses $650,966
Total Benefit Payments $547,248
Directly to participants or beneficiaries, including direct rollovers $547,248
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $15,961
Interest expense $0
Total Administrative Expenses $87,757
Professional Fees $0
Contract Administrator Fees $43,892
Investment Advisory and management fees $30,806
Other Administrative Fees $13,059
Net Income $847,381
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2017 06/30/2016 Change YOY
Total Assets $9,346,841 $8,499,460 9.97%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $58,054 $116,647 -50.23%
Employer Contributions $46,046 $104,249 -55.83%
Participant Contributions $12,008 $12,398 -3.15%
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 $211,077 $191,255 10.36%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $317,476 $277,691 14.33%
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 $6,893,619 $6,061,730 13.72%
Value of funds held in insurance co. general account $1,866,615 $1,852,137 0.78%
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 $9,346,841 $8,499,460 9.97%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Management & Research Co
  • The Vanguard Group, Inc.
  • Deutsche Investment Management
  • Oppenheimer Funds, Inc.
  • American Century Investment Managem
  • Calvert Investment Management, Inc.
  • Capital Research and Management Co
  • Pimco
  • T. Rowe Proce Associates, 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
Professional Capital Services, LLC Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.) Contract Administrator $43,894 $0 $43,894
Value Architects Asset Management Investment management, Direct payment from the plan Investment Advisor $30,806 $0 $30,806
Total $74,700 $0 $74,700

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Separate Account Brighthouse Life Insurance Company DFE: Pooled Separate Account $167,401
Separate Account Number Sa2 Mutual of America DFE: Pooled Separate Account $150,075
Total $317,476

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America Life Insurance Company 145
EIN 13-1614399
Industry Code 88668
Contract Number 054189H
Contract Year 07/01/2016 — 06/30/2017
Value in General Account at Year End $190,922
Value in Separate Accounts at Year End $150,075
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 $189,496
Additions $9,200
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $2,603
Transferred from separate account $2,580
Other $4,017
Total of Balance and Additions $198,696
Deductions $7,774
Disbursed from fund to pay benefits or purchase annuities during the year $7,774
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $190,922
Brighthouse Life Insurance Company 45
EIN 06-0566090
Industry Code 87726
Contract Number 039433
Contract Year 07/01/2016 — 06/30/2017
Value in General Account at Year End $1,585,767
Value in Separate Accounts at Year End $167,401
Insurance Fees and Commissions $3,461
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Metlife Investors Distribution Comp 1095 Avenue of The Americas New York, NY 10036 Insurance Agent or Broker $3,461 $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 $1,565,855
Additions $64,400
Contributions Deposited during the year $10,176
Dividends and credits $0
Interest credited during the year $54,224
Transferred from separate account $0
Other $0
Total of Balance and Additions $1,630,255
Deductions $44,488
Disbursed from fund to pay benefits or purchase annuities during the year $39,922
Administration charge made by carrier $0
Transferred to Separate Account $4,566
Other $0
Balance at the end of the current year $1,585,767