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Ahlstrom-Munksjo Retirement Savings Plan


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan09/01/2004
  • Net Assets as of 12/31/2019 $438,326,614
  • Plan Number5
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • 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) Participants764
  • Retired or separated participants receiving benefits29
  • Other retired or separated participants entitled to future benefits523
  • Subtotal1,316
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits8
  • Total1,324
  • Total number of participants as of 01/01/20191,058
  • Number of participants with account balances1,306
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested43


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

Sponsor Information

  • AddressTwo Elm Street
  • CityWindsor Locks
  • StateCT
  • Zip06096
  • Telephone(860) 654-8300
  • EIN13-3509370
  • Industry Code322100
  • Named AdministratorMary Bilodeau

Plan Administrator Information

  • Administrator NameBenefit Plans Administrative and 401K Plan Investment Committee
  • Address2 Elm Street
  • CityWindsor Locks
  • StateCT
  • Zip06096
  • Telephone(860) 654-8300
  • Administrator EIN13-3509370

Audit Information

  • Audit StatusAudited
  • AuditorBlumshapiro
  • Auditor EIN06-1009205
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
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 $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? Yes $35,268
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 $50,314,995
Contributions $10,353,130
Cash Contributions $10,353,130
Cash from Employers $4,787,326
Cash from Participants $5,213,314
Others (including rollovers) $352,490
Noncash Contributions $0
Total Earnings on Investments $39,807,436
Total Interest $200,809
Interest-Bearing Cash $2,492
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $179,275
Interest from Other Investments $19,042
Total Dividends $9,075,186
Preferred Stock $0
Common Stock $37
Rents $0
Net gain (loss) on sale of assets $312
Aggregate Proceeds $6,807
Aggregate Carrying Amount $6,495
Total Unrealized Appreciation (depreciation) of assets $8,138
Real Estate $0
Other $8,138
Net investment gain (loss) from common/collective trusts $820,548
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 $29,702,443
Other Income $154,429
Expenses $21,594,635
Total Benefit Payments $21,298,655
Directly to participants or beneficiaries, including direct rollovers $21,296,915
To insurance carriers for the provision of benefits $1,740
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $67,761
Interest expense $0
Total Administrative Expenses $228,219
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $68,184
Other Administrative Fees $160,035
Net Income $28,720,360
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 $438,326,614 $184,725,614 137.29%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $2,394,860 $2,527,416 -5.24%
Employer Contributions $2,394,860 $2,527,416 -5.24%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $11,387,220 $63,474 17839.98%
Interest-bearing cash $11,387,220 $63,474 17839.98%
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 $1,100,050 $0 0.0%
Preferred $0 $0 0.0%
Common $1,100,050 $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 $6,991,718 $3,936,207 77.63%
Value of interest in common/collective trusts $18,704,711 $17,396,628 7.52%
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 $397,306,433 $160,381,044 147.73%
Value of funds held in insurance co. general account $441,524 $420,845 4.91%
Other Investments $98 $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 $438,326,614 $184,725,614 137.29%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Verrill Dana LLP Consulting (general) Consultant $83,051 $0 $83,051
Strategic Advisors, Inc. Investment advisory (plan) Advisor $68,184 $0 $68,184
Fiduciary Investment Advisors Consulting (general) Consultant $33,000 $0 $33,000
Blumshapiro Accounting (including auditing) Accountant/Auditor $21,183 $0 $21,183
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees Recordkeeper $-110,949 $0 $-110,949
Total $94,469 $0 $94,469

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Abf Sm Cap Val Inst - Dst Asset Ma Sub-transfer agency fees 0.04% $0
Fidelity Investments Institutional Cba Sm Cap Gr I - Bny Mellon Inves Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Dodge & Cox Intl Stk - Dst Asset M Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Jpm Midcap Value L - Dst Asset Man Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Equity Income - T. Rowe Price Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Wf Discovery Is - Dst Asset Manage Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Baron Growth Fund Instl Class Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Doubleline Shiller Enhanced Cap Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Hennessy Gas Utilityinvestor Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional T Rowe Price Comm & Technology Inv Sub-transfer agency fees 0.15% $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.



Name of Investment Investment Manager Type of Investment Dollar Value
Mip II Cl 1 Fidelity Management Trust Company DFE: Common/Collective Trust $18,704,711
Total $18,704,711

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 7
EIN 04-1590850
Industry Code 65935
Contract Number 3857154, ETC.
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $441,524
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Naughton Brendan C 330 Whitney Ave Ste 600 Holyoke, MA 01040 -2754 Insurance Agent or Broker $0 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $3,328
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 $420,845
Additions $20,679
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $20,679
Transferred from separate account $0
Other $0
Total of Balance and Additions $441,524
Deductions $0
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 $0
Balance at the end of the current year $441,524