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Steamship Trade Association of Baltimore, Inc. and the International Longshoremen's Association

Plan Rating
FORM 5500 DATA

Steamship Trade Association of Baltimore, Incorporated - International Longshoremen's Association Severance and Annuity Plan

Overview

Plan Information

  • Plan Year10/01/2017 — 09/30/2018
  • Date of Plan12/22/1996
  • Net Assets as of 09/30/2018 $90,725,853
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 09/30/2018

  • Active (Eligible) Participants2,154
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits8
  • Subtotal2,162
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total2,164
  • Total number of participants as of 10/01/20171,964
  • Number of participants with account balances1,781
  • 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

  • Address6610 Tributary Street
  • CityBaltimore
  • StateMD
  • Zip21224-6514
  • Telephone(410) 633-9311
  • EIN52-2035147
  • Industry Code488300

Audit Information

  • Audit StatusAudited
  • AuditorPbmares, LLP
  • Auditor EIN54-0737372
  • 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.

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 $5,000,000
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? Yes
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 $17,196,177
Contributions $9,615,735
Cash Contributions $9,615,735
Cash from Employers $8,917,225
Cash from Participants $0
Others (including rollovers) $698,510
Noncash Contributions $0
Total Earnings on Investments $7,206,191
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $874,951
Aggregate Proceeds $9,088,844
Aggregate Carrying Amount $8,213,893
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 $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 $6,331,240
Other Income $374,251
Expenses $5,106,047
Total Benefit Payments $4,270,140
Directly to participants or beneficiaries, including direct rollovers $4,270,140
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 $835,907
Professional Fees $84,449
Contract Administrator Fees $0
Investment Advisory and management fees $461,656
Other Administrative Fees $289,802
Net Income $12,090,130
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2018 09/30/2017 Change YOY
Total Assets $90,825,750 $78,687,230 15.43%
Total noninterest-bearing cash $345,316 $258,104 33.79%
Receivables $948,545 $1,019,883 -6.99%
Employer Contributions $914,743 $967,037 -5.41%
Participant Contributions $0 $0 0.0%
Other Contributions $33,802 $52,846 -36.04%
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 $0 $0 0.0%
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 $89,531,889 $77,409,243 15.66%
Value of funds held in insurance co. general account $0 $0 0.0%
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 $99,897 $51,507 93.95%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $7,088 $14,875 -52.35%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $92,809 $36,632 153.35%
Net Assets $90,725,853 $78,635,723 15.37%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Mass Mutual Life Ins. 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
Mass Mutual Life Ins. Co. Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Other investment fees and expenses Contract Administrator $461,656 $0 $461,656
Abato, Rubenstein & Abato, P.A. Legal, Direct payment from the plan NONE $40,066 $0 $40,066
Pbmares, LLP Accounting (including auditing), Direct payment from the plan NONE $26,638 $0 $26,638
Jennifer Walter Employee (plan), Direct payment from the plan Plan employee $24,120 $0 $24,120
Sharon Mclaughlin Employee (plan), Direct payment from the plan Plan employee $23,982 $0 $23,982
Segal Select Insurance Services Insurance services, Direct payment from the plan, Insurance brokerage commissions and fees NONE $22,480 $0 $22,480
Lisa Bandy Employee (plan), Direct payment from the plan Plan employee $22,348 $0 $22,348
Richard Wohlfort, Jr. Employee (plan), Direct payment from the plan Plan employee $15,191 $0 $15,191
John Hughes Employee (plan), Direct payment from the plan Plan employee $14,624 $0 $14,624
Investment Performance Services Inc Direct payment from the plan, Investment advisory (plan), Consulting (general) NONE $10,000 $0 $10,000
Tiffany Miller Employee (plan), Direct payment from the plan Plan employee $5,315 $0 $5,315
Total $666,420 $0 $666,420

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

Name Position Explanation
Tmdg, LLC Auditor The Predecessor Auditor Merged With Pbmares, LLP.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.