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FORM 5500 DATA

403(b) Thrift Plan of the Arc of Carroll County, Inc.

Overview

Plan Information

  • Plan Year07/01/2018 — 06/30/2019
  • Date of Plan01/01/1995
  • Net Assets as of 06/30/2019 $4,066,208
  • Plan Number1
  • 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
  • Plan Benefit ArrangementInsurance

Participant Information as of 06/30/2019

  • Active (Eligible) Participants305
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits27
  • Subtotal332
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total333
  • Total number of participants as of 07/01/2018355
  • Number of participants with account balances157
  • 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

  • Address180 Kriders Church Rd
  • CityWestminster
  • StateMD
  • Zip21158-4307
  • Telephone(410) 848-4124
  • EIN52-0707322
  • Industry Code813000
  • Named AdministratorKathy Forbes

Audit Information

  • Audit StatusAudited
  • AuditorMullen,Sondberg,Wimbish & Stone, Pa
  • Auditor EIN52-1197902
  • 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.
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.

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? 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 $568,200
Contributions $375,747
Cash Contributions $375,747
Cash from Employers $123,126
Cash from Participants $231,802
Others (including rollovers) $20,819
Noncash Contributions $0
Total Earnings on Investments $192,453
Total Interest $4,061
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,061
Interest from Other Investments $0
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 $188,392
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 $0
Expenses $147,327
Total Benefit Payments $146,490
Directly to participants or beneficiaries, including direct rollovers $146,490
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $837
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $837
Net Income $420,873
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2019 06/30/2018 Change YOY
Total Assets $4,066,904 $3,646,063 11.54%
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 $119,121 $123,364 -3.44%
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 $3,751,438 $3,365,770 11.46%
Value of funds held in insurance co. general account $196,345 $156,929 25.12%
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 $696 $728 -4.40%
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) $696 $728 -4.40%
Net Assets $4,066,208 $3,645,335 11.55%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Management and Research Co
  • The Vanguard Group Inc
  • Deutsche Investment Management Amer
  • Oppenheimer Funds Inc
  • American Century Investment Managem
  • Calvert Investment Management Inc
  • Capital Research and Management Com
  • Pimco
  • T Rowe Price Associates Inc
  • Mfs Variable Insurance Trust III
  • Victory Variable Insurance Funds
  • Neuberger Berman Bd LLC
  • Goldman Sachs Variable Insurance Tr
  • Delaware Vip Trust

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
Mutual of America Life Insurance Co Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing Insurance Carrier $849 $0 $849
Total $849 $0 $849

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

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Separate Account Number Fs2 Mutual of America DFE: Pooled Separate Account $3,751,438
Total $3,751,438

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America 166
EIN 13-1614399
Industry Code 88668
Contract Number 059697H
Contract Year 07/01/2018 — 06/30/2019
Value in General Account at Year End $315,466
Value in Separate Accounts at Year End $3,751,438
Insurance Fees and Commissions $1,033
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Capital Area Regional Office 1306 Concourse Drive, Suite 200 Linthicum, MD 21090 -1033 Insurance Agent or Broker $0 $1,033 PORTION OF INCENTIVE COMP. PROGRAM
Allocated Funds
Type of Contract Unspecified
Basis of premium rates N/A
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 Deposit Administration
Balance at the end of the previous year $280,294
Additions $47,640
Contributions Deposited during the year $19,809
Dividends and credits $0
Interest credited during the year $4,061
Transferred from separate account $20,800
Other $2,970
Total of Balance and Additions $327,934
Deductions $12,468
Disbursed from fund to pay benefits or purchase annuities during the year $12,339
Administration charge made by carrier $129
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $315,466