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International Association of Heat, Frost Insulators and Allied Workers Local Union 91

Plan Rating
FORM 5500 DATA

International Association of Heat, Frost Insulators and Allied Workers Local Union 91 - Annuity Fund

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan07/01/1989
  • Net Assets as of 12/31/2019 $14,874,424
  • Plan Number1
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • 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 12/31/2019

  • Active (Eligible) Participants203
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits34
  • Subtotal238
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total238
  • Total number of participants as of 01/01/2019150
  • Number of participants with account balances238
  • 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

  • Address1024 Mckinley Street
  • CityPeekskill
  • StateNY
  • Zip10566-5604
  • Telephone(914) 788-0500
  • EIN13-3539002
  • Industry Code238220
  • Named AdministratorKevin Cramsie

Plan Administrator Information

  • Administrator NameIntl. Assoc. of Heat,Frost Insul. Allied Workers Lu
  • Address1024 Mckinley Street
  • CityPeekskill
  • StateNY
  • Zip10566-5604
  • Telephone(914) 788-0500
  • Administrator EIN13-3539002

Audit Information

  • Audit StatusAudited
  • AuditorBerard & Associates CPAS P.C.
  • Auditor EIN13-3774222
  • Audit OpinionUnqualified
  • Audit Type Full 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.

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 $3,906,930
Contributions $1,479,562
Cash Contributions $1,479,562
Cash from Employers $1,479,562
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $2,427,368
Total Interest $15,569
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $15,569
Total Dividends $66,022
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 $901,010
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 $1,444,767
Other Income $0
Expenses $314,805
Total Benefit Payments $251,464
Directly to participants or beneficiaries, including direct rollovers $251,464
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $63,341
Professional Fees $22,460
Contract Administrator Fees $6,135
Investment Advisory and management fees $27,702
Other Administrative Fees $7,044
Net Income $3,592,125
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $15,025,370 $11,449,592 31.23%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $155,512 $94,504 64.56%
Employer Contributions $152,021 $82,164 85.02%
Participant Contributions $0 $0 0.0%
Other Contributions $3,491 $12,340 -71.71%
General Investments $281,724 $189,024 49.04%
Interest-bearing cash $281,724 $189,024 49.04%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $14,430,997 $916,005 1475.43%
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 $152,834 $9,087,751 -98.32%
Value of funds held in insurance co. general account $4,303 $1,162,308 -99.63%
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 $150,946 $167,293 -9.77%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $50,946 $67,293 -24.29%
Acquisition Indebtedness (1) $100,000 $100,000 0.00%
Other liabilities (1) $0 $0 0.0%
Net Assets $14,874,424 $11,282,299 31.84%

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
Prudential Insurance Company of Ame Investment management NONE $71,106 $0 $71,106
Marquette Associates Consulting (pension) NONE $40,018 $0 $40,018
Holm & Ohara LLP Insurance agents and brokers NONE $11,637 $0 $11,637
Berard & Associates CPAS P.C. Accounting (including auditing) NONE $10,823 $0 $10,823
Total $133,584 $0 $133,584

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Prudential Insurance Company of Ame Prudential Investments, LLC Investment management Other Investment Fees. 27.000 Bps From 1/1/2017 To12/31/2017 Pru Jenn Md Cp $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
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $3,926,240
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $3,854,865
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $3,446,664
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $1,031,739
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $635,872
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $385,338
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $363,843
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $341,442
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $177,763
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $161,084
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $101,637
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $3,891
Prudential Retirement Ins, Prudential Retirement DFE: Pooled Separate Account $620
Total $14,430,998

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
The Prudential Insurance Company of America 2
EIN 22-1211670
Industry Code 68241
Contract Number 007723
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $4,303
Value in Separate Accounts at Year End $14,430,997
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 $1,162,309
Additions $161,405
Contributions Deposited during the year $57,889
Dividends and credits $0
Interest credited during the year $15,569
Transferred from separate account $3,606
Other $84,341
Total of Balance and Additions $1,323,714
Deductions $1,319,411
Disbursed from fund to pay benefits or purchase annuities during the year $9,260
Administration charge made by carrier $0
Transferred to Separate Account $1,305,132
Other $5,019
Balance at the end of the current year $4,303