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The Westminster Schools Tax Deferred Annuity and Defined Contribution Retirement Plan


Plan Information

  • Plan Year09/01/2016 — 08/31/2017
  • Date of Plan09/01/1975
  • Net Assets as of 08/31/2017 $109,338,818
  • Plan Number6
  • 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 08/31/2017

  • Active (Eligible) Participants467
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits567
  • Subtotal1,034
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total1,036
  • Total number of participants as of 09/01/2016998
  • Number of participants with account balances1,028
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address1424 W. Paces Ferry Rd, NW
  • CityAtlanta
  • StateGA
  • Zip30327-2428
  • Telephone(404) 355-8673
  • EIN58-0566206
  • Industry Code611000
  • Named AdministratorAntoinette M. Boyd
  • Named Plan SponsorAntoinette M. Boyd

Audit Information

  • Audit StatusAudited
  • AuditorGrant Thornton
  • Auditor EIN36-6055558
  • 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.
2L Code section 403(b)(1) arrangement A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.
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? Yes $2,753
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 $2,500,000
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


Income and Expense Statement

Income $16,711,748
Contributions $5,070,720
Cash Contributions $5,070,720
Cash from Employers $1,722,458
Cash from Participants $2,836,846
Others (including rollovers) $511,416
Noncash Contributions $0
Total Earnings on Investments $11,641,028
Total Interest $1,015,787
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 $1,015,787
Total Dividends $1,094,342
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 $132,968
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 $9,397,931
Other Income $0
Expenses $9,976,247
Total Benefit Payments $9,903,103
Directly to participants or beneficiaries, including direct rollovers $9,701,656
To insurance carriers for the provision of benefits $201,447
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $73,144
Professional Fees $42,956
Contract Administrator Fees $0
Investment Advisory and management fees $30,188
Other Administrative Fees $0
Net Income $6,735,501
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

08/31/2017 08/31/2016 Change YOY
Total Assets $109,338,818 $102,419,864 6.76%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $3,161,654 $3,698,890 -14.52%
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 $80,287,968 $73,533,244 9.19%
Value of funds held in insurance co. general account $25,889,196 $25,187,730 2.78%
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 $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 $109,338,818 $102,419,864 6.76%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • TIAA

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
Capfinancial Partners, LLC Investment management, Direct payment from the plan, Investment management fees paid indirectly by plan Investment Management $30,188 $0 $30,188
TIAA Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (pension), Investment advisory (plan), Investment management, Participant communication, Direct payment from the plan, Investment management fees paid indirectly by plan, Sales loads (front end and deferred), Recordkeeping fees, Insurance mortality and expense charge Recordkeeping $23,346 $0 $23,346
Grant Thornton, LLP Accounting (including auditing), Direct payment from the plan Accounting (Incl Audit) $19,610 $0 $19,610
Total $73,144 $0 $73,144

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.



Name of Investment Investment Manager Type of Investment Dollar Value
Tiaa Real Estate Tiaa-Cref DFE: Pooled Separate Account $3,161,654
Total $3,161,654

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Tiaa-Cref 635
EIN 13-1624203
Industry Code 69345
Contract Number 104565
Contract Year 09/01/2016 — 08/31/2017
Value in General Account at Year End $25,889,197
Value in Separate Accounts at Year End $53,227,325
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 Guaranteed Investment
Balance at the end of the previous year $25,187,730
Additions $4,570,436
Contributions Deposited during the year $594,217
Dividends and credits $0
Interest credited during the year $1,015,787
Transferred from separate account $2,928,214
Other $32,218
Total of Balance and Additions $29,758,166
Deductions $3,868,969
Disbursed from fund to pay benefits or purchase annuities during the year $1,645,940
Administration charge made by carrier $49,807
Transferred to Separate Account $2,173,222
Other $0
Balance at the end of the current year $25,889,197