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FORM 5500 DATA

Youth Consultation Service Tax Sheltered Annuity Plan

Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan10/18/1987
  • Net Assets as of 12/31/2015 $25,302,721
  • 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 12/31/2015

  • Active (Eligible) Participants1,466
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits581
  • Subtotal2,047
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits4
  • Total2,051
  • Total number of participants as of 01/01/20151,931
  • Number of participants with account balances1,105
  • 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

  • Address284 Broadway
  • CityNewark
  • StateNJ
  • Zip07104-4003
  • Telephone(973) 482-8411
  • EIN22-1487560
  • Industry Code611000

Plan Administrator Information

  • Administrator NameYouth Consultation Service
  • Address284 Broadway
  • CityNewark
  • StateNJ
  • Zip07104-4003
  • Telephone(973) 482-8411
  • Administrator EIN22-1487560

Audit Information

  • Audit StatusAudited
  • AuditorSax LLP
  • Auditor EIN81-2950760
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.

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? Yes $346,691
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 $1,353,990
Contributions $1,195,613
Cash Contributions $1,195,613
Cash from Employers $265
Cash from Participants $1,188,697
Others (including rollovers) $6,651
Noncash Contributions $0
Total Earnings on Investments $120,683
Total Interest $35,304
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $23,651
Interest from Other Investments $11,653
Total Dividends $13,281
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 $17,267
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 $54,831
Other Income $37,694
Expenses $1,806,770
Total Benefit Payments $1,771,537
Directly to participants or beneficiaries, including direct rollovers $1,712,987
To insurance carriers for the provision of benefits $58,550
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $4,192
Interest expense $0
Total Administrative Expenses $31,041
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $31,041
Net Income $-452,780
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $25,302,721 $25,755,501 -1.76%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,171,071 $1,168,586 0.21%
Employer Contributions $712,594 $712,594 0.00%
Participant Contributions $45,690 $43,159 5.86%
Other Contributions $412,787 $412,833 -0.01%
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 $608,223 $581,534 4.59%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $289,898 $263,088 10.19%
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 $22,134,768 $22,608,510 -2.10%
Value of funds held in insurance co. general account $1,098,761 $1,133,783 -3.09%
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 $25,302,721 $25,755,501 -1.76%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Insurance Co of America
  • TIAA

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
Newport Retirement Services Inc Recordkeeping and information management (computing, tabulating, data processing, etc.), Sub-transfer agency fees Record Keeper $30,561 $0 $30,561
Tiaa-Teachers Ins&Annuity Assn Recordkeeping and information management (computing, tabulating, data processing, etc.) Recordkeeper $0 $0 $0
Total $30,561 $0 $30,561

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

Name Position Explanation
Saxbst LLP Accountant Effective August 15, 2016, Saxbst LLP Separated and Formed Sax LLP & Bst & Co, CPAS, LLP

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Tiaa Real Estate Tiaa-Cref DFE: Pooled Separate Account $237,843
Long Term Growth Prudential Retirement Ins. DFE: Pooled Separate Account $26,832
Equity Account Prudential Retirement Ins. DFE: Pooled Separate Account $9,688
Capital Growth Prudential Retirement Ins. DFE: Pooled Separate Account $5,257
Flexible Managed Account Prudential Retirement Ins. DFE: Pooled Separate Account $3,812
Conservative Balanced Prudential Retirement Ins. DFE: Pooled Separate Account $2,785
Diversified Bond Account Prudential Retirement Ins. DFE: Pooled Separate Account $2,415
Money Market Prudential Retirement Ins. DFE: Pooled Separate Account $1,266
Total $289,898

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Tiaa-Cref 87
EIN 13-1624203
Industry Code 69345
Contract Number 367549
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $927,380
Value in Separate Accounts at Year End $5,343,727
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 Guaranteed Investment
Balance at the end of the previous year $964,534
Additions $550,621
Contributions Deposited during the year $17,749
Dividends and credits $0
Interest credited during the year $37,694
Transferred from separate account $495,178
Other $0
Total of Balance and Additions $1,515,155
Deductions $587,775
Disbursed from fund to pay benefits or purchase annuities during the year $40,668
Administration charge made by carrier $0
Transferred to Separate Account $547,107
Other $0
Balance at the end of the current year $927,380
The Prudential Insurance Company of America 7
EIN 22-1211670
Industry Code 68241
Contract Number 005783
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $162,560
Value in Separate Accounts at Year End $25,223
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 Guaranteed Investment
Balance at the end of the previous year $160,707
Additions $4,814
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $4,814
Transferred from separate account $0
Other $0
Total of Balance and Additions $165,521
Deductions $2,961
Disbursed from fund to pay benefits or purchase annuities during the year $2,801
Administration charge made by carrier $160
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $162,560
The Prudential Insurance Company of America 1
EIN 22-1211670
Industry Code 68241
Contract Number 003505
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $8,821
Value in Separate Accounts at Year End $26,832
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 Guaranteed Investment
Balance at the end of the previous year $8,542
Additions $299
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $299
Transferred from separate account $0
Other $0
Total of Balance and Additions $8,841
Deductions $20
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $20
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $8,821