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Board of Trustees The Legal Aid Society Staff Attorneys Pen. Plan

Plan Rating

The Legal Aid Society Staff Attorneys Pension Plan


Plan Information

  • Plan Year07/01/2017 — 06/30/2018
  • Date of Plan07/01/1976
  • Net Assets as of 06/30/2018 $180,137,962
  • Plan Number4
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 06/30/2018

  • Active (Eligible) Participants1,136
  • Retired or separated participants receiving benefits25
  • Other retired or separated participants entitled to future benefits526
  • Subtotal1,687
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total1,689
  • Total number of participants as of 07/01/20171,628
  • Number of participants with account balances1,643
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested6


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

Sponsor Information

  • Address1400 Old Country Rd. Suite 406
  • CityWestbury
  • StateNY
  • Zip11590
  • Telephone(516) 333-9010
  • EIN13-5562265
  • Industry Code541190

Plan Administrator Information

  • Administrator NameBoard of Trustees The Legal Aid Society Staff Attorneys Pen. Plan
  • Address1400 Old Country Rd. Suite 406
  • CityWestbury
  • StateNY
  • Zip11590
  • Telephone(516) 333-9010
  • Administrator EIN13-5562265

Audit Information

  • Audit StatusAudited
  • AuditorSchultheis & Panettieri, LLP
  • Auditor EIN13-1577780
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
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.
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 $3,000,000
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


Income and Expense Statement

Income $21,269,224
Contributions $5,802,702
Cash Contributions $5,802,702
Cash from Employers $5,802,702
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $15,466,522
Total Interest $53,042
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $53,042
Interest from Other Investments $0
Total Dividends $6,757,516
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 $8,655,964
Other Income $0
Expenses $6,729,545
Total Benefit Payments $6,410,147
Directly to participants or beneficiaries, including direct rollovers $6,410,147
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 $319,398
Professional Fees $67,229
Contract Administrator Fees $12,000
Investment Advisory and management fees $16,000
Other Administrative Fees $224,169
Net Income $14,539,679
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2018 06/30/2017 Change YOY
Total Assets $180,244,996 $165,640,771 8.82%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $5,800,000 $5,290,000 9.64%
Employer Contributions $5,800,000 $5,290,000 9.64%
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 $1,166,260 $1,157,590 0.75%
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 $173,269,870 $159,192,473 8.84%
Value of funds held in insurance co. general account $0 $0 0.0%
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 $8,866 $708 1152.26%
Total Liabilities $107,034 $42,488 151.92%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $107,034 $42,488 151.92%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $180,137,962 $165,598,283 8.78%

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
The Vanguard Group Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment advisory (participants), Participant loan processing, Direct payment from the plan, Investment management fees paid indirectly by plan, Soft dollars commissions NONE $193,430 $0 $193,430
Proskauer Rose, LLP Legal, Direct payment from the plan Attorney $44,229 $0 $44,229
Schultheis & Panettieri, LLP Accounting (including auditing), Direct payment from the plan NONE $23,000 $0 $23,000
Portfolio Evaluations, Inc Investment advisory (plan), Direct payment from the plan NONE $16,000 $0 $16,000
O'Neill Consulting Corp. Contract Administrator, Direct payment from the plan NONE $12,000 $0 $12,000
Total $288,659 $0 $288,659

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.



No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.