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Overview

Plan Information

  • Plan Year07/01/2018 — 06/30/2019
  • Date of Plan05/01/1990
  • Net Assets as of 06/30/2019 $18,641,248
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 06/30/2019

  • Active (Eligible) Participants842
  • Retired or separated participants receiving benefits8
  • Other retired or separated participants entitled to future benefits335
  • Subtotal1,185
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits6
  • Total1,191
  • Total number of participants as of 07/01/20181,125
  • Number of participants with account balances1,191
  • 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

  • Address348 Duanesburg Rd.
  • CitySchenectady
  • StateNY
  • Zip12306
  • Telephone(518) 374-8872
  • EIN14-1728182
  • Industry Code813930
  • Named AdministratorMichael Brady

Plan Administrator Information

  • Administrator NameMichael Brady
  • Address348 Duanesburg Rd.
  • CitySchenectady
  • StateNY
  • Zip12306-0000
  • Telephone(518) 374-8872
  • Administrator EIN14-1728182

Audit Information

  • Audit StatusAudited
  • AuditorTeal Becker & Chiaramonte CPAS Pc
  • Auditor EIN14-1624930
  • 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.

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 $2,488,399
Contributions $2,015,616
Cash Contributions $2,015,616
Cash from Employers $2,015,616
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $472,783
Total Interest $117,048
Interest-Bearing Cash $4,209
U.S. Government Securities $23,868
Corporate Debt Instruments $88,971
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $329,066
Preferred Stock $2,031
Common Stock $90,718
Rents $0
Net gain (loss) on sale of assets $-28,425
Aggregate Proceeds $3,683,651
Aggregate Carrying Amount $3,712,076
Total Unrealized Appreciation (depreciation) of assets $256,643
Real Estate $0
Other $256,643
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 $-201,549
Other Income $0
Expenses $1,815,558
Total Benefit Payments $1,589,590
Directly to participants or beneficiaries, including direct rollovers $1,589,590
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 $225,968
Professional Fees $34,498
Contract Administrator Fees $0
Investment Advisory and management fees $91,332
Other Administrative Fees $100,138
Net Income $672,841
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2019 06/30/2018 Change YOY
Total Assets $18,782,595 $18,024,878 4.20%
Total noninterest-bearing cash $598,595 $559,650 6.96%
Receivables $514,135 $405,312 26.85%
Employer Contributions $492,016 $383,792 28.20%
Participant Contributions $0 $0 0.0%
Other Contributions $22,119 $21,520 2.78%
General Investments $1,435,399 $1,850,886 -22.45%
Interest-bearing cash $231,152 $816,807 -71.70%
U.S. Government Securities $1,204,247 $1,034,079 16.46%
Corporate Debt Instruments $2,170,120 $2,045,585 6.09%
Preferred $0 $0 0.0%
All Other $2,170,120 $2,045,585 6.09%
Corporate Stocks $5,240,210 $4,853,831 7.96%
Preferred $33,087 $38,079 -13.11%
Common $5,207,123 $4,815,752 8.13%
Partnership/joint venture interests $1,570,111 $2,019,334 -22.25%
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 $7,230,375 $6,278,631 15.16%
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 $23,650 $11,649 103.02%
Total Liabilities $141,347 $56,471 150.30%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $141,347 $56,471 150.30%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $18,641,248 $17,968,407 3.74%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Acl Alternative Fund
  • Altantic Fund Services
  • Skybridge Capital Ii, LLC

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
Morgan Stanley Smith Barney LLC Investment advisory (plan), Direct payment from the plan, Other investment fees and expenses, Securities brokerage, Securities brokerage commissions and fees, Other services NONE $56,361 $0 $56,361
Michael Brady Plan Administrator, Employee (plan) Employee $39,179 $0 $39,179
Teal Becker & Chiaramonte CPAS Pc Accounting (including auditing) NONE $17,750 $0 $17,750
Pozefsky, Bramely & Murphy Legal NONE $12,298 $0 $12,298
Wright Investors' Service Investment management NONE $12,233 $0 $12,233
Karpus Investment Management Investment management NONE $7,860 $0 $7,860
Total $145,681 $0 $145,681

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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.