Back to top

403(b) Thrift Plan Sponsored by Legal Services


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan02/13/2018
  • Net Assets as of 12/31/2019 $7,477,622
  • Plan Number3
  • 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) Participants134
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits33
  • Subtotal167
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total168
  • Total number of participants as of 01/01/2019148
  • Number of participants with account balances166
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested12


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

Sponsor Information

  • Address90 Maple Avenue
  • CityWhite Plains
  • StateNY
  • Zip10601
  • Telephone(914) 949-1305
  • EIN13-6265606
  • Industry Code541110
  • Named AdministratorMyra Loewenstein

Audit Information

  • Audit StatusAudited
  • AuditorDay Seckler
  • Auditor EIN26-2310586
  • 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.
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 $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


Income and Expense Statement

Income $3,300,669
Contributions $2,198,324
Cash Contributions $2,198,324
Cash from Employers $568,853
Cash from Participants $540,194
Others (including rollovers) $1,089,277
Noncash Contributions $0
Total Earnings on Investments $1,102,345
Total Interest $9,291
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 $9,291
Total Dividends $0
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 $1,093,054
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 $0
Other Income $0
Expenses $496,903
Total Benefit Payments $495,371
Directly to participants or beneficiaries, including direct rollovers $495,371
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 $1,532
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $1,532
Net Income $2,803,766
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 $7,477,622 $4,673,856 59.99%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $49,818 $38,900 28.07%
Employer Contributions $23,819 $21,524 10.66%
Participant Contributions $25,999 $17,376 49.63%
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 $0 $0 0.0%
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 $6,965,620 $4,297,877 62.07%
Value of funds held in insurance co. general account $462,184 $337,079 37.11%
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 $7,477,622 $4,673,856 59.99%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Management & Research Co
  • The Vanguard Group, Inc
  • Deutsche Investment Management Amer
  • Oppenheimer Funds Inc
  • American Century Investment Mgmt
  • Calvert Investment Management Inc
  • Capital Research & Management Inc
  • Pimco
  • T. Rowe Price Associates Inc
  • Mfs Variable Insurance Trust III
  • Victory Variable Insurance Funds
  • Neuberger Berman Bd LLC
  • Goldman Sachs Variable Insurance Tr
  • Delaware Vip Trust

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
Mutual of America Life Insurance Co Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Account maintenance fees NONE $1,532 $0 $1,532
Total $1,532 $0 $1,532

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.



Name of Investment Investment Manager Type of Investment Dollar Value
Separate Account Number 2 Mutual of America Life Insurance Company DFE: Pooled Separate Account $6,884,625
Total $6,884,625

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America Life Insurance Company 168
EIN 13-1614399
Industry Code 88668
Contract Number 052925-D
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $543,179
Value in Separate Accounts at Year End $6,884,625
Insurance Fees and Commissions $3,575
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Tarrytown Regional Office 120 White Plains Rd., Suite 120 Tarrytown, NY 10591 -5588 Insurance Agent or Broker $0 $3,575 PORTION OF INCENTIVE COMP PROGRAM
Allocated Funds
Type of Contract Group Deferred Annuity
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 THRIFT
Balance at the end of the previous year $337,079
Additions $512,956
Contributions Deposited during the year $67,351
Dividends and credits $0
Interest credited during the year $9,291
Transferred from separate account $110,602
Other $325,712
Total of Balance and Additions $850,035
Deductions $306,856
Disbursed from fund to pay benefits or purchase annuities during the year $306,446
Administration charge made by carrier $410
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $543,179