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FORM 5500 DATA

Hillside Family of Agencies 403(b) Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2003
  • Net Assets as of 12/31/2019 $71,227,883
  • 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 12/31/2019

  • Active (Eligible) Participants1,991
  • Retired or separated participants receiving benefits6
  • Other retired or separated participants entitled to future benefits648
  • Subtotal2,645
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total2,647
  • Total number of participants as of 01/01/20192,437
  • Number of participants with account balances2,509
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested58

Expenses

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

Sponsor Information

  • Address1183 Monroe Avenue
  • CityRochester
  • StateNY
  • Zip14620
  • Telephone(585) 654-1318
  • EIN16-1493407
  • Industry Code624100
  • Named AdministratorChristopher R. Peterson
  • Named Plan SponsorChristopher R. Peterson

Audit Information

  • Audit StatusAudited
  • AuditorBonadio & Co., LLP
  • Auditor EIN16-1131146
  • 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.
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.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

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? Yes
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? Yes

Financials

Income and Expense Statement

Income $20,183,243
Contributions $6,281,324
Cash Contributions $6,281,324
Cash from Employers $889,401
Cash from Participants $5,087,646
Others (including rollovers) $304,277
Noncash Contributions $0
Total Earnings on Investments $13,901,919
Total Interest $121,238
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $91,244
Interest from Other Investments $29,994
Total Dividends $4,658,055
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 $9,122,626
Other Income $0
Expenses $9,027,811
Total Benefit Payments $8,756,523
Directly to participants or beneficiaries, including direct rollovers $8,756,523
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $147,728
Interest expense $0
Total Administrative Expenses $123,560
Professional Fees $0
Contract Administrator Fees $36,818
Investment Advisory and management fees $0
Other Administrative Fees $86,742
Net Income $11,155,432
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 $71,227,883 $60,072,451 18.57%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $889,401 $1,298,283 -31.49%
Employer Contributions $889,401 $1,117,490 -20.41%
Participant Contributions $0 $180,793 -100.00%
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 $1,729,409 $1,607,976 7.55%
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 $68,609,073 $54,442,405 26.02%
Value of funds held in insurance co. general account $0 $2,723,787 -100.00%
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 $71,227,883 $60,072,451 18.57%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • American Funds
  • Baird Funds
  • Fidelity Investments Inst
  • Jp Morgan
  • Vanguard Marketing Corp

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
T Rowe Price Rps Inc Recordkeeping and information management (computing, tabulating, data processing, etc.), Custodial (other than securities), Custodial (securities), Investment management, Participant loan processing, Participant communication, Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue, Recordkeeping fees, Account maintenance fees, Other fees NONE $86,741 $0 $86,741
Massachusetts Mutual Life Insurance Other services, Investment management fees paid indirectly by plan, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Soft dollars commissions, Other investment fees and expenses NONE $36,818 $0 $36,818
Vanguard Investment management fees paid indirectly by plan NONE $0 $0 $0
Vanguard Investment management fees paid indirectly by plan NONE $0 $0 $0
Ridgeworth Investment management fees paid indirectly by plan NONE $0 $0 $0
Voya Funds Investment management fees paid indirectly by plan NONE $0 $0 $0
Pimco Funds Investment management fees paid indirectly by plan NONE $0 $0 $0
T. Rowe Price Investment management fees paid indirectly by plan NONE $0 $0 $0
American Funds Investment management fees paid indirectly by plan NONE $0 $0 $0
Northern Funds Investment management fees paid indirectly by plan NONE $0 $0 $0
Total $123,559 $0 $123,559

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Vanguard Vanguard Small Cap Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Closed Vanguard Short Term Bon Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Voya Funds Closed Voya Global Real Estate Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Ridgeworth Virtus Ceredex Mid Cp Val Eq Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Pimco Funds Total Return Fund Admin (Pimco) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Short Term Bond Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Amer Funds Europacific Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Northern Funds Northern Global Real Estate Idx Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
T. Rowe Price T. Rowe Price Blue Chip Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2010 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2015 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2020 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2025 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2030 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2035 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2040 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2045 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2050 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2055 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Millennium Trust Company, LLC Other services Referral Fee $0
Massachusetts Mutual Life Insurance Millennium Trust Company, LLC Other services Referral Fee $0
Massachusetts Mutual Life Insurance Capital Preservation Account Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Capital Preservation Account Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Closed Voya Global Real Estate Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Virtus Ceredex Mid Cp Val Eq Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Total Return Fund Admin (Pimco) Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Sel Fndmntl Val Fd (Brwhnlybspt) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Sel Fndmntl Val Fd (Brwhnlybspt) Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Select Mid Cap Gr Fd (Trpfrontier) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Amer Funds Europacific Growth Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Northern Global Real Estate Idx Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Amer Funds Europacific Growth Fund Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Select Mid Cap Gr Fd (Trpfrontier) Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Mm S&P 500 Index Fd(Northern Trust) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Prem Infl-Prot and Inc Fd (Barings) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Prem U.S. Govt Mny Mkt Fd (Barings) Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2010 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2015 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2020 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2025 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2030 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2035 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2040 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2045 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2050 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2055 Target Dt Ret Fd Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance T. Rowe Price Blue Chip Growth Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2010 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2015 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2020 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2025 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2030 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2035 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2040 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2045 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2050 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance American Fnds 2055 Target Dt Ret Fd Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance T. Rowe Price Blue Chip Growth Fund Distribution (12b-1) fees Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Mm S&P 500 Index Fd(Northern Trust) Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Prem Infl-Prot and Inc Fd (Barings) Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Insurance Prem U.S. Govt Mny Mkt Fd (Barings) Other investment fees and expenses Basis Points * Plan Assets $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 0
EIN 04-1590850
Industry Code 65935
Contract Number MR 60420 - 1
Contract Year 01/01/2019 — 09/17/2019
Value in General Account at Year End $0
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $2,723,787
Additions $-142,601
Contributions Deposited during the year $-221,730
Dividends and credits $0
Interest credited during the year $29,994
Transferred from separate account $0
Other $49,135
Total of Balance and Additions $2,581,186
Deductions $2,581,186
Disbursed from fund to pay benefits or purchase annuities during the year $726,930
Administration charge made by carrier $1,521
Transferred to Separate Account $1,842,239
Other $10,496
Balance at the end of the current year $0