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FORM 5500 DATA

Ihi Group 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1989
  • Net Assets as of 12/31/2017 $85,136,501
  • 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 Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants805
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits144
  • Subtotal949
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total949
  • Total number of participants as of 01/01/2017934
  • Number of participants with account balances801
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested78

Expenses

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

Sponsor Information

  • Address150 East 52nd Street 24th Floor
  • CityNew York
  • StateNY
  • Zip10022
  • Telephone(212) 599-8117
  • EIN13-2889851
  • Industry Code541330
  • Named AdministratorGreg Brakefield

Audit Information

  • Audit StatusAudited
  • AuditorCondon O'Meara Mcginty and Donnelly
  • Auditor EIN13-3628255
  • 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.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
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.
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.
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 $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 $24,343,475
Contributions $13,469,308
Cash Contributions $13,469,308
Cash from Employers $4,455,475
Cash from Participants $6,864,748
Others (including rollovers) $2,149,085
Noncash Contributions $0
Total Earnings on Investments $10,874,167
Total Interest $118,298
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $46,223
Interest from Other Investments $72,075
Total Dividends $1,378,078
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 $6,972,317
Net investment gain (loss) from pooled separate accounts $523,391
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 $1,882,083
Other Income $0
Expenses $8,352,020
Total Benefit Payments $8,175,621
Directly to participants or beneficiaries, including direct rollovers $8,175,621
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $896
Certain deemed distributions of participant loans $120,113
Interest expense $0
Total Administrative Expenses $55,390
Professional Fees $0
Contract Administrator Fees $55,390
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $15,991,455
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 $85,136,501 $69,145,437 23.13%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $479,606 $170,877 180.67%
Employer Contributions $275,727 $9,176 2904.87%
Participant Contributions $203,879 $161,701 26.08%
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 $1,102,646 $999,123 10.36%
Value of interest in common/collective trusts $1,506,054 $50,596,549 -97.02%
Value of interest in pooled separate accounts $0 $4,025,113 -100.00%
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 $76,874,558 $7,451,975 931.60%
Value of funds held in insurance co. general account $5,173,637 $5,901,800 -12.34%
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 $391 -100.00%
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 $391 -100.00%
Net Assets $85,136,501 $69,145,046 23.13%

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
Mmc Securities Corporation Investment advisory (plan), Other fees Investment Advisory $0 $70,000 $70,000
Principal Life Insurance Company Contract Administrator, Other services, Direct payment from the plan, Recordkeeping fees Contract Administrator $55,397 $0 $55,397
The Benefit Practice Contract Administrator, Other services, Other fees Contract Administrator $0 $36,204 $36,204
Total $55,397 $106,204 $161,601

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
The Benefit Practice Principal Life Insurance Company Contract Administrator, Other services, Other fees Referral/Service Fee and Contract Administrative Services $36,204
Mmc Securities Corporation Principal Life Insurance Company Investment advisory (plan), Other fees Investment Advisory (Plan) $70,000
*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
Prudential Core Pl Bd Fd Cl 5 Prudential Trust Company DFE: Common/Collective Trust $1,506,054
Prin Lifetime Hyb 2060 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb Inc Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2055 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2050 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2045 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2040 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2035 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2030 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2025 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2020 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2015 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Lifetime Hyb 2010 Cit I15 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Prin Real Estate Secs Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Princ Midcap S&P 400 Idx Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Smcap S&P 600 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lgcap S&P 500 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $1,506,054

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 1,035
EIN 42-0127290
Industry Code 61271
Contract Number 461013
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $7,401
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $1,403
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
The Benefit Practice 1055 Washington Blvd Stamford, CT 06901 -2213 Insurance Agent or Broker $0 $1,403 REFERRAL/SERVICE FEE
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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $48,902
Additions $73
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $73
Transferred from separate account $0
Other $0
Total of Balance and Additions $48,975
Deductions $41,536
Disbursed from fund to pay benefits or purchase annuities during the year $20,701
Administration charge made by carrier $236
Transferred to Separate Account $0
Other $20,599
Balance at the end of the current year $7,439
Principal Life Insurance Company 1,035
EIN 42-0127290
Industry Code 61271
Contract Number 613953
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $1,877
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
The Benefit Practice 1055 Washington Blvd Stamford, CT 06901 -2213 Insurance Agent or Broker $0 $1,877 REFERRAL/SERVICE FEE
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 CUSTODIAL GUARANTEED INTEREST CONTRACT
Balance at the end of the previous year $5,853,253
Additions $6,054,904
Contributions Deposited during the year $377,633
Dividends and credits $0
Interest credited during the year $71,685
Transferred from separate account $5,587,835
Other $17,751
Total of Balance and Additions $11,908,157
Deductions $6,741,921
Disbursed from fund to pay benefits or purchase annuities during the year $637,561
Administration charge made by carrier $2,723
Transferred to Separate Account $6,097,409
Other $4,228
Balance at the end of the current year $5,166,236