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FORM 5500 DATA

New York City District Council of Carpenters Annuity Fund

Overview

Plan Information

  • Plan Year07/01/2013 — 06/30/2014
  • Date of Plan07/01/1966
  • Net Assets as of 06/30/2014 $1,960,365,302
  • Plan Number1
  • 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 Arrangement Trust

Participant Information as of 06/30/2014

  • Active (Eligible) Participants32,860
  • Retired or separated participants receiving benefits113
  • Other retired or separated participants entitled to future benefits2,482
  • Subtotal35,455
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total35,455
  • Total number of participants as of 07/01/201336,407
  • Number of participants with account balances35,455
  • 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

  • Address395 Hudson Street
  • CityNew York
  • StateNY
  • Zip10014
  • Telephone(212) 366-7300
  • EIN51-0174279
  • Industry Code236200
  • Named AdministratorCarol Westfall

Audit Information

  • Audit StatusAudited
  • AuditorSchultheis & Panettieri, LLP
  • Auditor EIN13-1577780
  • Audit OpinionUnqualified
  • Audit Type Full 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.
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? 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 $10,000,000
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 $329,461,740
Contributions $131,026,639
Cash Contributions $131,026,639
Cash from Employers $129,293,767
Cash from Participants $0
Others (including rollovers) $1,732,872
Noncash Contributions $0
Total Earnings on Investments $191,379,261
Total Interest $32,292,078
Interest-Bearing Cash $1,873
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,877,643
Interest from Other Investments $29,412,562
Total Dividends $0
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 $159,087,183
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 $0
Other Income $7,055,840
Expenses $117,534,592
Total Benefit Payments $83,240,498
Directly to participants or beneficiaries, including direct rollovers $83,240,498
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $31,150,803
Interest expense $0
Total Administrative Expenses $3,143,291
Professional Fees $975,703
Contract Administrator Fees $0
Investment Advisory and management fees $51,624
Other Administrative Fees $2,115,964
Net Income $211,927,148
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2014 06/30/2013 Change YOY
Total Assets $1,960,570,989 $1,749,410,734 12.07%
Total noninterest-bearing cash $21,713 $28,045 -22.58%
Receivables $14,272,240 $25,875,535 -44.84%
Employer Contributions $8,371,000 $7,200,000 16.26%
Participant Contributions $0 $0 0.0%
Other Contributions $5,901,240 $18,675,535 -68.40%
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 $73,965,673 $78,028,858 -5.21%
Value of interest in common/collective trusts $26,990,680 $10,463,054 157.96%
Value of interest in pooled separate accounts $815,558,915 $670,685,675 21.60%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $1,029,404,479 $964,080,261 6.78%
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 $357,289 $249,306 43.31%
Total Liabilities $205,687 $972,580 -78.85%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $205,687 $972,580 -78.85%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $1,960,365,302 $1,748,438,154 12.12%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Prudential Retirement Ins & Ann Co

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
Schultheis & Panettieri LLP Accounting (including auditing) NONE $282,723 $0 $282,723
Virginia and Ambinder LLP Legal Attorney $234,611 $0 $234,611
Standard Data Corporation Recordkeeping and information management (computing, tabulating, data processing, etc.) Computer Services $197,226 $0 $197,226
Novak Francella LLC Accounting (including auditing) NONE $195,871 $0 $195,871
Kauff, Mcguire & Margolis, LLP Legal NONE $62,853 $0 $62,853
Gallagher Fiduciary Advisors, LLC Investment advisory (plan) NONE $47,077 $0 $47,077
James Tierney Employee (plan) NONE $35,674 $0 $35,674
Slevin & Hart, P.C. Legal NONE $35,001 $0 $35,001
Kennedy, Jennik & Murray, P.C. Legal NONE $31,274 $0 $31,274
Segal Select Insurance Services Insurance brokerage commissions and fees NONE $0 $31,234 $31,234
Mueller Block LLC Consulting (general) NONE $28,335 $0 $28,335
Roger E. Maher Legal Arbitrator $25,607 $0 $25,607
The Metropolitan Companies, Inc. Other services Outside Services $24,152 $0 $24,152
Cgi Technologies and Solutions, Inc Consulting (general) NONE $23,914 $0 $23,914
Fitzsimmons, Krantz, and Abrams LLP Consulting (general) NONE $23,457 $0 $23,457
Harvard Protection Services, LLC Other services Security Provider $18,875 $0 $18,875
John Pirrone Consulting (general) NONE $10,470 $0 $10,470
The Segal Company Consulting (general), Insurance brokerage commissions and fees NONE $10,000 $0 $10,000
Bank of New York Mellon Custodial (securities) NONE $9,734 $0 $9,734
Winmill Software Recordkeeping and information management (computing, tabulating, data processing, etc.) NONE $9,096 $0 $9,096
Automatic Data Processing, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.) Computer Services $8,931 $0 $8,931
Insight Direct USA, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.) NONE $8,156 $0 $8,156
C. Hunt Walker Company LLC Legal NONE $8,097 $0 $8,097
Icorps Technologies,Inc Recordkeeping and information management (computing, tabulating, data processing, etc.) NONE $6,614 $0 $6,614
P. O'Connor & Sons Legal NONE $5,651 $0 $5,651
Total $1,343,399 $31,234 $1,374,633

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Segal Select Insurance Services Federal Insurance Company Insurance brokerage commissions and fees Insurance Brokerage Commissions and Fees $6,425
Segal Select Insurance Services Ullico Casualty Insurance brokerage commissions and fees Insurance Brokerage Commissions and Fees $13,400
Segal Select Insurance Services Am Wins Brokerage of NE Insurance brokerage commissions and fees Insurance Brokerage Commissions and Fees $3,274
Segal Select Insurance Services Elucid Specialty Managers, LLC Insurance brokerage commissions and fees Insurance Brokerage Commissions and Fees $8,135
*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
Large Cap Value/Lsv Asset Mgmt Fd Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $191,612,610
Large Cap Growth/Jp Morgan Inv Mgmt Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $171,829,039
Small Cap Value/Kennedy Capital Fd Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $141,898,022
International Blend/Aqr Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $111,290,643
Small Cap Growth/Rbc Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $103,836,294
Dryden S&P 500 Index Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $30,651,407
Eb Temporary Investment Fund The Bank of New York Mellon DFE: Common/Collective Trust $26,990,680
Core Bond/Pim Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $22,598,289
Lifetime Aggressive Growth Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $14,122,355
International Blend/Thornburg Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $10,386,772
High Yield Bond/Prudential Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $6,783,137
Midcap Growth/Frontier Capital Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $3,563,055
Mid Cap Value/Systematic Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $3,563,054
Government Securities/Pim Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $2,387,252
Prudential Tips Enhanced Index Fund Prudential Retirement Ins & Ann Co DFE: Pooled Separate Account $1,036,986
Total $842,549,595

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance and Annuity Company 35,455
EIN 06-1050034
Industry Code 93629
Contract Number 38640
Contract Year 07/01/2013 — 06/30/2014
Value in General Account at Year End $1,029,404,479
Value in Separate Accounts at Year End $815,558,915
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 $964,080,261
Additions $324,297,789
Contributions Deposited during the year $40,103,011
Dividends and credits $0
Interest credited during the year $28,366,435
Transferred from separate account $40,044,425
Other $215,783,918
Total of Balance and Additions $1,288,378,050
Deductions $258,973,571
Disbursed from fund to pay benefits or purchase annuities during the year $32,340,923
Administration charge made by carrier $29,011
Transferred to Separate Account $42,062,130
Other $184,541,507
Balance at the end of the current year $1,029,404,479