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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1976
  • Net Assets as of 12/31/2018 $16,785,752
  • Plan Number3
  • 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 12/31/2018

  • Active (Eligible) Participants135
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits25
  • Subtotal160
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total161
  • Total number of participants as of 01/01/2018153
  • Number of participants with account balances158
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1

Expenses

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

Sponsor Information

  • Address700 Blair Road
  • CityCarteret
  • StateNJ
  • Zip07008
  • Telephone(973) 748-8980
  • EIN13-5556034
  • Industry Code424600
  • Named AdministratorBrian Hart

Audit Information

  • Audit StatusAudited
  • AuditorOwen Peterson & Co., LLP
  • Auditor EIN13-2572848
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
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.
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 $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 $546,870
Contributions $1,117,115
Cash Contributions $1,117,115
Cash from Employers $235,712
Cash from Participants $881,403
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-581,982
Total Interest $23,720
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $23,720
Interest from Other Investments $0
Total Dividends $784,211
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $331,379
Aggregate Proceeds $23,169,650
Aggregate Carrying Amount $22,838,271
Total Unrealized Appreciation (depreciation) of assets $15,410
Real Estate $0
Other $15,410
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 $-1,736,702
Other Income $11,737
Expenses $1,021,066
Total Benefit Payments $981,214
Directly to participants or beneficiaries, including direct rollovers $977,568
To insurance carriers for the provision of benefits $3,646
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $39,852
Professional Fees $39,852
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-474,196
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $16,785,752 $17,259,948 -2.75%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
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 $487,132 $530,682 -8.21%
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 $15,673,714 $15,966,956 -1.84%
Value of funds held in insurance co. general account $624,906 $762,310 -18.02%
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 $16,785,752 $17,259,948 -2.75%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • American Funds
  • Baron
  • Blackrock
  • Invesco Funds
  • Fidelity Advisor
  • Jp Morgan
  • MFS
  • PNC
  • Wells Fargo
  • American Century
  • Eagle Asset Management
  • Goldman Sachs
  • Harbor
  • Janus
  • Teachers Advisors
  • Vanguard

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
Pnc Bank, N.A. Trustee (directed), Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Distribution (12b-1) fees Trustee $39,852 $0 $39,852
Total $39,852 $0 $39,852

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Pnc Bank, National Association Invesco Diversified Dividend Fund Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees 5 Basis Points Annually-52 25 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association American Funds - Balanced Fund Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Ishares S&P 500 Index Svc Sub-transfer agency fees, Distribution (12b-1) fees 5 Basis Points Annually-60 15 Basis Points Annually-63 $0
Pnc Bank, National Association Baron Asset Fund Sub-transfer agency fees, Distribution (12b-1) fees 15 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association American Funds - Capital World Grow Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Fidelity Advisor Diversified Intern Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-60 50 Basis Points Annually-63 $0
Pnc Bank, National Association American Funds - Growth Fund of Ame Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Mfs Total Return Fund Shareholder servicing fees, Distribution (12b-1) fees 10 Basis Points Annually-59 25 Basis Points Annually-63 $0
Pnc Bank, National Association Wells Fargo Special Mid Cap Value Shareholder servicing fees, Sub-transfer agency fees 10 Basis Points Annually-59 25 Basis Points Annually-60 $0
Pnc Bank, National Association Fidelity Advisor Total Bond Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Goldman Sachs Small Cap Value Fund Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees 10 Basis Points Annually-52 15 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Janus Henderson Forty Fund Class S Sub-transfer agency fees, Distribution (12b-1) fees 25 Basis Points Annually-60 25 Basis Points Annually-63 $0
Pnc Bank, National Association Jp Morgan Smart Retirement Income F Sub-transfer agency fees 25 Basis Points Annually-60 $0
Pnc Bank, National Association Jp Morgan Smart Retirement 2020 Fun Sub-transfer agency fees 25 Basis Points Annually-60 $0
Pnc Bank, National Association Jp Morgan Smart Retirement 2040 Fun Sub-transfer agency fees 25 Basis Points Annually-60 $0
Pnc Bank, National Association Jp Morgan Smart Retirement 2030 Fun Sub-transfer agency fees 25 Basis Points Annually-60 $0
Pnc Bank, National Association Jp Morgan Smart Retirement 2050 Fun Sub-transfer agency fees 25 Basis Points Annually-60 $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 22
EIN 04-1590850
Industry Code 65935
Contract Number 53179
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $407
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Greiner Ronald M 2506 Locksley St Sun City Center, FL 33573 -6529 Insurance Agent or Broker $407 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $21,743
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 $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
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 $0
The Guardian Life Insurance Company of America 0
EIN 13-5123390
Industry Code 64246
Contract Number 00485614
Contract Year 03/01/2018 — 02/28/2019
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
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
The Rosenthal Insurance Group 1680 Route 23 Wayne, NJ 07470 Insurance Agent or Broker $0 $0
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
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 $0