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FORM 5500 DATA

Albany Medical Center 403(b) Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/2009
  • Net Assets as of 12/31/2017 $272,175,953
  • 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 ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants9,538
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits1,413
  • Subtotal10,951
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total10,951
  • Total number of participants as of 01/01/201710,621
  • Number of participants with account balances10,143
  • 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

  • Address43 New Scotland Avenue
  • CityAlbany
  • StateNY
  • Zip12208
  • Telephone(518) 262-8414
  • EIN14-1641730
  • Industry Code622000
  • Named AdministratorFrances S. Albert

Audit Information

  • Audit StatusAudited
  • AuditorKPMG
  • Auditor EIN13-5565207
  • 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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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 $10,000,000
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 $71,450,163
Contributions $37,729,712
Cash Contributions $37,729,712
Cash from Employers $0
Cash from Participants $30,681,468
Others (including rollovers) $7,048,244
Noncash Contributions $0
Total Earnings on Investments $33,810,316
Total Interest $98,764
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $98,764
Interest from Other Investments $0
Total Dividends $10,641,863
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 $23,069,689
Other Income $-89,865
Expenses $19,268,560
Total Benefit Payments $19,102,469
Directly to participants or beneficiaries, including direct rollovers $19,102,469
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $76,985
Interest expense $0
Total Administrative Expenses $89,106
Professional Fees $0
Contract Administrator Fees $89,106
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $52,181,603
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 $272,175,953 $219,994,350 23.72%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,129,678 $985,535 14.63%
Employer Contributions $0 $0 0.0%
Participant Contributions $1,129,678 $985,535 14.63%
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 $2,535,370 $2,331,489 8.74%
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 $48,160,666 $214,093,687 -77.50%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $220,350,239 $2,583,639 8428.68%
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 $272,175,953 $219,994,350 23.72%

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
Metlife Life Insurance Company Recordkeeping fees Recordkeeper $522,512 $0 $522,512
Msi Financial Services Inc. Other commissions Broker/Adviser $0 $28,246 $28,246
Mml Investors Services Other commissions Broker/Adviser $0 $15,771 $15,771
Albany Medical Center Other fees Other $3,180 $0 $3,180
Td Ameritrade, Inc. Securities brokerage Brokerage Services $1,480 $0 $1,480
Metlife Securities Other commissions Broker/Advisor $0 $0 $0
Total $527,172 $44,017 $571,189

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Mml Investors Services Metlife Life Insurance Company Other commissions Other Commissions $16,191
Msi Financial Services Inc. Metlife Life Insurance Company Other commissions Other Commissions $28,996
Metlife Securities Metlife Life Insurance Company Other commissions Other Commissions $0
Td Ameritrade, Inc. Open Brokerage Window Securities brokerage Income From Market Makers of Approx $2.50 Per Qualified Trade. -0-Bps Annually On Avg Daily Assets In Tdam Money Market. 12(B)(1) Mutual Fund Fees of 0-25 Bps On Balances In Respective Fund Families $0
Td Ameritrade, Inc. T. Rowe Price Personal Strat Funds Securities brokerage Range 0-100 Bps $0
Td Ameritrade, Inc. Brown Advisory Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Professionally Managed Port Akre Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Pear Tree Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Vanguard Index Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Primecap Odyssey Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Parnassus Income Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Northern Lights Fund Trust II Long Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Fmi Common Stock Fund Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Harris Associates Investment Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Amana Mutual Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Parnassus Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Vanguard Fixed Income Securities Fu Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Broadview Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Unified Series Trust Appleseed Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. 47-0533629 Professionally Managed Port Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Pimco Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Domini Social Investment Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Fpa Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Artisan Partners Funds Inc. Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. 47-0533629 Vanguard International Equity Index Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Adirondack Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Fidelity Select Portfolios Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Royce Fund Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Meridian Fund Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Matthews International Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Fidelity Securities Fund Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Tweedy Browne Fund Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Tocqueville Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Pax World Funds Series Trust I Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Vanguard Whitehall Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Mairs & Power Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Fmi Funds Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Ariel Investment Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc. Fenimore Assets Management Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Amg Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Hennessy Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Usaa Mutal Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Homestead Funds, Inc Securities brokerage Ranges From 0-100 Bps $0
Td Ameritrade, Inc Janus Investment Fund Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Vangaurd World Fund Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Chartwell Fund Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Dfa Investment Dimensions Group Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Conestoga Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Baron Select Funds Securities brokerage Rnage From 0-100 Bps $0
Td Ameritrade, Inc Nuveen Investment Funds Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Buffalo Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Us Global Investors Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Amg Funds I Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Fidelity Summer Street Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Amg Funds IV Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Guggenheim Funds Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Metropolitan West Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Barding Loevner Funds Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Schwab Capital Trust Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Pnc Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Fpa New Income Inc Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Vangaurd Specialized Funds Securities brokerage Range From 0-100 Bps $0
Td Ameritrade, Inc Neuberger Berman Income Funds Securities brokerage Range From 0-100 Bps $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

Name Nature of Service Description of Information
Td Ameritrade, Inc Securities brokerage Range From 0-100 Bps

Service Providers Who Fail or Refuse to Provide Information

There is no information on eligible indirect compensation for this plan.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Metropolitan Life Insurance Company 0
EIN 13-5581829
Industry Code 65978
Contract Number 1013655-01
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $30,083,901
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $6,856
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Metropolitan Life Insurance Company 1095 Avenue of The Americas New York, NY 10036 Insurance Agent or Broker $6,856 $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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $28,852,465
Additions $8,368,560
Contributions Deposited during the year $4,920,291
Dividends and credits $0
Interest credited during the year $525,353
Transferred from separate account $2,761,913
Other $161,003
Total of Balance and Additions $37,221,025
Deductions $7,137,124
Disbursed from fund to pay benefits or purchase annuities during the year $4,881,945
Administration charge made by carrier $1,863
Transferred to Separate Account $2,253,316
Other $0
Balance at the end of the current year $30,083,901