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FORM 5500 DATA

A. Morton Thomas & Associates, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan12/01/1988
  • Net Assets as of 12/31/2018 $44,395,072
  • 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 12/31/2018

  • Active (Eligible) Participants509
  • Retired or separated participants receiving benefits6
  • Other retired or separated participants entitled to future benefits128
  • Subtotal643
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total643
  • Total number of participants as of 01/01/2018609
  • Number of participants with account balances503
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested57

Expenses

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

Sponsor Information

  • Address800 King Farm Blvd. 4th Floor
  • CityRockville
  • StateMD
  • Zip20850
  • Telephone(301) 881-2545
  • EIN52-0728302
  • Industry Code541330
  • Named AdministratorRichard Khalil

Audit Information

  • Audit StatusAudited
  • AuditorBDO
  • Auditor EIN13-5381590
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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.
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.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $2,701,803
Contributions $5,246,629
Cash Contributions $5,246,629
Cash from Employers $1,583,497
Cash from Participants $2,441,711
Others (including rollovers) $1,221,421
Noncash Contributions $0
Total Earnings on Investments $-2,544,826
Total Interest $67,311
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $30,361
Interest from Other Investments $36,950
Total Dividends $1,064,714
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 $-1,217,848
Net investment gain (loss) from pooled separate accounts $-8,885
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 $-2,450,118
Other Income $0
Expenses $3,102,984
Total Benefit Payments $3,055,563
Directly to participants or beneficiaries, including direct rollovers $3,054,862
To insurance carriers for the provision of benefits $701
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $1,975
Interest expense $0
Total Administrative Expenses $45,446
Professional Fees $0
Contract Administrator Fees $45,446
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-401,181
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 $44,395,072 $44,796,253 -0.90%
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 $612,019 $664,149 -7.85%
Value of interest in common/collective trusts $19,887,889 $19,807,768 0.40%
Value of interest in pooled separate accounts $52,671 $201,669 -73.88%
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 $21,212,825 $21,255,091 -0.20%
Value of funds held in insurance co. general account $2,629,668 $2,867,576 -8.30%
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 $44,395,072 $44,796,253 -0.90%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • McDermott, Will & Emery
  • Pensionmark Financial Group, LLC
  • Captrust Financial Advisors
  • Bruce Mcfarland/Gen2 Group, LLC
  • Wiss & Company, LLP
  • Marsh Finpro

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
Great-West Life & Annuity Insurance Recordkeeping fees Recordkeeper $38,787 $19,723 $58,510
Empower Retirement Advisory Service Investment management Investment Mgmt $6,659 $0 $6,659
Total $45,446 $19,723 $65,169

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
Great-West Lifetime 2045 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $4,915,088
Great-West Lifetime 2025 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $4,449,594
Great-West Lifetime 2035 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $3,851,655
Pru Core Plus Bond Fund Prudential Retirement Company DFE: Common/Collective Trust $1,490,983
Great-West Lifetime 2020 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $1,450,471
Great-West Lifetime 2055 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $1,373,501
Great-West Lifetime 2015 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $1,303,292
Great-West Lifetime 2040 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $585,552
Victory Small Cap Value Fund Global Trust Company DFE: Common/Collective Trust $241,284
Great-West Lifetime 2050 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $163,915
Great-West Lifetime 2030 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $62,554
Pru Ifx Tgt Easypath Bal Prudential Retirement Ins. DFE: Pooled Separate Account $52,671
Great-West Lifetime Con 2015 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2030 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2055 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2025 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2040 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2045 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2035 Fund Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Great-West Lifetime Con 2050 Trust Great-West Trust Company, LLC DFE: Common/Collective Trust $0
Total $19,940,560

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great West Life and Annuity 94
EIN 84-0467907
Industry Code 68322
Contract Number 1114005-01
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $2,629,668
Value in Separate Accounts at Year End $52,671
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 $2,867,576
Additions $466,450
Contributions Deposited during the year $167,679
Dividends and credits $0
Interest credited during the year $36,951
Transferred from separate account $121,869
Other $139,951
Total of Balance and Additions $3,334,026
Deductions $704,358
Disbursed from fund to pay benefits or purchase annuities during the year $442,153
Administration charge made by carrier $2,655
Transferred to Separate Account $259,550
Other $0
Balance at the end of the current year $2,629,668
Great-West Life & Annuity Insurance Company 14
EIN 84-0467907
Industry Code 68322
Contract Number 1114005-01
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 $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Group Deferred Annuity
Basis of premium rates
Premiums paid to carrier $701
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