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FORM 5500 DATA

NYC Chapter of NYSARC, Inc. Non-Union Employees Tax-Deferred Annuity Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan07/01/1970
  • Net Assets as of 12/31/2019 $110,291,902
  • Plan Number1
  • 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 12/31/2019

  • Active (Eligible) Participants1,626
  • Retired or separated participants receiving benefits12
  • Other retired or separated participants entitled to future benefits342
  • Subtotal1,980
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,980
  • Total number of participants as of 01/01/20192,554
  • Number of participants with account balances1,980
  • 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

  • Address83 Maiden Lane
  • CityNew York
  • StateNY
  • Zip10038
  • Telephone(212) 780-2635
  • EIN13-5596746
  • Industry Code624100
  • Named AdministratorAmy West

Audit Information

  • Audit StatusAudited
  • AuditorPkf O'Connor Davies,LLP
  • Auditor EIN27-1728945
  • 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.
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 $5,000,000
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

Financials

Income and Expense Statement

Income $25,066,951
Contributions $7,276,023
Cash Contributions $7,276,023
Cash from Employers $2,653,509
Cash from Participants $4,546,761
Others (including rollovers) $75,753
Noncash Contributions $0
Total Earnings on Investments $17,790,928
Total Interest $673,531
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $247,529
Interest from Other Investments $426,002
Total Dividends $1,370,401
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 $47,870
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 $15,699,126
Other Income $0
Expenses $9,881,479
Total Benefit Payments $9,570,095
Directly to participants or beneficiaries, including direct rollovers $9,570,095
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $34,466
Interest expense $0
Total Administrative Expenses $276,918
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $276,918
Net Income $15,185,472
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 $110,291,902 $95,106,430 15.97%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
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 $4,260,035 $4,657,055 -8.53%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $17,441,091 -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 $87,411,086 $72,159,342 21.14%
Value of funds held in insurance co. general account $18,562,076 $800,187 2219.72%
Other Investments $58,705 $48,755 20.41%
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 $110,291,902 $95,106,430 15.97%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Retirement Insurance and

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 Retirement Insurance and Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan, Recordkeeping fees NONE $215,131 $0 $215,131
Cammack Larhette Advisors LLC Investment advisory (plan) NONE $55,406 $0 $55,406
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 $6,380 $0 $6,380
Total $276,917 $0 $276,917

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
Tflic Guaranteed Pooled Fund Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 1,980
EIN 06-1050034
Industry Code 93629
Contract Number 075379
Contract Year 03/15/2019 — 12/31/2019
Value in General Account at Year End $17,867,976
Value in Separate Accounts at Year End $0
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 GENERAL ACOUNT CONTRACT
Balance at the end of the previous year $0
Additions $19,428,996
Contributions Deposited during the year $848,653
Dividends and credits $0
Interest credited during the year $397,560
Transferred from separate account $0
Other $18,182,783
Total of Balance and Additions $19,428,996
Deductions $1,561,020
Disbursed from fund to pay benefits or purchase annuities during the year $1,148,323
Administration charge made by carrier $1,478
Transferred to Separate Account $0
Other $411,219
Balance at the end of the current year $17,867,976
Metropolitan Life Insurance Complany 80
EIN 13-5581829
Industry Code 65978
Contract Number 1095026
Contract Year 01/01/2019 — 03/15/2019
Value in General Account at Year End $694,100
Value in Separate Accounts at Year End $5,681,619
Insurance Fees and Commissions $3,511
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
1095 Avenue of The Americas Insurance Agent or Broker $3,511 $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 Unspecified
Balance at the end of the previous year $783,657
Additions $32,906
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $27,398
Transferred from separate account $5,508
Other $0
Total of Balance and Additions $816,563
Deductions $122,463
Disbursed from fund to pay benefits or purchase annuities during the year $122,463
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $694,100
Transamerica Financial Life Insurance Company 0
EIN 36-6071399
Industry Code 70688
Contract Number TA069140
Contract Year 01/01/2019 — 03/15/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $1,846
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Cammack Larhette Brokerage Inc. 40 Wall Street New York, NY 10005 Insurance Agent or Broker $1,846 $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 Unspecified
Balance at the end of the previous year $16,530
Additions $104
Contributions Deposited during the year $61
Dividends and credits $0
Interest credited during the year $43
Transferred from separate account $0
Other $0
Total of Balance and Additions $16,634
Deductions $16,634
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $16,634
Balance at the end of the current year $0