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Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan07/26/1999
  • Net Assets as of 12/31/2015 $186,424,543
  • Plan Number5
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2015

  • Active (Eligible) Participants3,288
  • Retired or separated participants receiving benefits4
  • Other retired or separated participants entitled to future benefits12
  • Subtotal3,304
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total3,304
  • Total number of participants as of 01/01/20153,045
  • Number of participants with account balances3,009
  • 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

  • Address303 Merrick Road Suite 300
  • CityLynbrook
  • StateNY
  • Zip11563-2514
  • Telephone(877) 999-3555
  • EIN13-4059105
  • Industry Code525100
  • Named AdministratorSteven T Schlapp

Audit Information

  • Audit StatusAudited
  • AuditorGould, Kobrick & Schlapp, P.C.
  • Auditor EIN13-3082707
  • 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.
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.
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.

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 $184,269
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 $2,000,000
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 $19,978,805
Contributions $19,405,574
Cash Contributions $19,405,574
Cash from Employers $0
Cash from Participants $19,254,961
Others (including rollovers) $150,613
Noncash Contributions $0
Total Earnings on Investments $473,231
Total Interest $1,149,925
Interest-Bearing Cash $1,024
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $129,696
Interest from Other Investments $1,019,205
Total Dividends $9,183,998
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 $-1,024,053
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 $-8,836,639
Other Income $100,000
Expenses $3,085,938
Total Benefit Payments $2,561,361
Directly to participants or beneficiaries, including direct rollovers $2,561,361
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $324,022
Certain deemed distributions of participant loans $80,653
Interest expense $0
Total Administrative Expenses $119,902
Professional Fees $33,216
Contract Administrator Fees $60,490
Investment Advisory and management fees $0
Other Administrative Fees $26,196
Net Income $16,892,867
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 $186,621,103 $169,683,109 9.98%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $979,123 $868,378 12.75%
Employer Contributions $0 $0 0.0%
Participant Contributions $942,990 $860,045 9.64%
Other Contributions $36,133 $8,333 333.61%
General Investments $575,200 $384,568 49.57%
Interest-bearing cash $575,200 $384,568 49.57%
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 $4,345,822 $3,766,156 15.39%
Value of interest in common/collective trusts $45,755,298 $39,158,633 16.85%
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 $96,974,655 $93,258,076 3.99%
Value of funds held in insurance co. general account $37,981,523 $32,237,816 17.82%
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 $9,482 $9,482 0.00%
Total Liabilities $196,560 $151,433 29.80%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $1,281 $9,747 -86.86%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $195,279 $141,686 37.83%
Net Assets $186,424,543 $169,531,676 9.96%

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
Administrative Services Only Contract Administrator NONE $42,000 $0 $42,000
Massachusetts Mutual Life Ins. Co. Other investment fees and expenses, Soft dollars commissions, Recordkeeping fees, Distribution (12b-1) fees, Sub-transfer agency fees, Investment management fees paid indirectly by plan Contract Administrator $18,490 $0 $18,490
Spivak Lipton, LLP Legal Related Union's Attorney $16,156 $0 $16,156
Gould, Kobrick & Schlapp, P.C. Accounting (including auditing) Related Union's Auditor $15,500 $0 $15,500
Total $92,146 $0 $92,146

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Massachusetts Mutual Life Ins. Co 0 Oppenheimer Capital Appre Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Sel Blackrock Global Allocation Fd Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Ssga Dow Jones Target Today Fd Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Sel Gr Opprtunities Fd Sands/Jsp Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Select Focused Value Fund Harris Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Sel Mid Cap Gr II Fd Trp/Frontier Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Sel Overseas Fd Mfs/Harris/Jpmrgn Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Select Fndmntl Val Fd Wellington Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Sel Smcoval Fd Fed Clov/Trp/Invsc Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Prem Infl-Prot and Incm Fd Babson Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Mm S&P 500 Index Fdnorthern Trust Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Calvert Equity Portfolio Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Perkins Mid Cap Value Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Premier Core Bond Fd Babson Other investment fees and expenses Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Ssga Dow Jones Target 2015 Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Ssga Dow Jones Target 2025 Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Ssga Dow Jones Target 2035 Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 Ssga Dow Jones Target 2045 Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 American Century Growth Fund Sub-transfer agency fees Basis Point * Plan Assets $0
Massachusetts Mutual Life Ins. Co 0 T. Rowe Price New Horizons Fund Sub-transfer agency fees Basis Point * 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

Name of Investment Investment Manager Type of Investment Dollar Value
Mf-Rj Ssga Dj Target 2045 Fund State Street Bank & Trust Company DFE: Common/Collective Trust $15,568,295
Mf-Kj Ssga Dj Target 2035 Fund State Street Bank & Trust Company DFE: Common/Collective Trust $13,970,126
Mf-Ij Ssga Dj Target 2025 Fund State Street Bank & Trust Company DFE: Common/Collective Trust $11,941,702
Mf-Ij Ssga Dj Target 2015 Fund State Street Bank & Trust Company DFE: Common/Collective Trust $3,790,115
Mf-Ej Ssga Dj Target Today Fd Reliance Trust DFE: Common/Collective Trust $485,060
Total $45,755,298

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 3,304
EIN 04-1590850
Industry Code 65935
Contract Number MR 60012
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $37,981,523
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 $32,237,816
Additions $6,699,605
Contributions Deposited during the year $2,336,984
Dividends and credits $0
Interest credited during the year $1,018,309
Transferred from separate account $2,911,821
Other $432,491
Total of Balance and Additions $38,937,421
Deductions $955,898
Disbursed from fund to pay benefits or purchase annuities during the year $581,243
Administration charge made by carrier $2,540
Transferred to Separate Account $0
Other $372,115
Balance at the end of the current year $37,981,523