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FORM 5500 DATA

Center for the Advancement of Jewish Education Teachers Fringe Benefit 403(b) Program

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan09/01/2004
  • Net Assets as of 12/31/2018 $40,529,929
  • 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 Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants855
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits153
  • Subtotal1,009
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,009
  • Total number of participants as of 01/01/2018993
  • Number of participants with account balances523
  • 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

  • Address4200 Biscayne Blvd.
  • CityMiami
  • StateFL
  • Zip33137
  • Telephone(305) 576-4000
  • EIN59-0624373
  • Industry Code813000
  • Named AdministratorOksana Cardini
  • Named Plan SponsorOksana Cardini

Audit Information

  • Audit StatusAudited
  • AuditorMorrison, Brown, Argiz & Farra, LLC
  • Auditor EIN01-0720052
  • Audit Opinion Disclaimer
  • Audit Type Full 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.
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 $90,756
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 $2,000,000
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 $1,980,943
Contributions $2,312,395
Cash Contributions $2,312,395
Cash from Employers $697,259
Cash from Participants $1,416,372
Others (including rollovers) $198,764
Noncash Contributions $0
Total Earnings on Investments $-331,452
Total Interest $21,610
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $21,610
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 $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 $-353,062
Other Income $0
Expenses $2,446,083
Total Benefit Payments $2,324,659
Directly to participants or beneficiaries, including direct rollovers $2,324,659
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 $121,424
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $121,424
Other Administrative Fees $0
Net Income $-465,140
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 $40,529,929 $40,995,069 -1.13%
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 $230,377 $241,481 -4.60%
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 $18,795,958 $18,828,597 -0.17%
Value of funds held in insurance co. general account $21,503,594 $21,924,991 -1.92%
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 $40,529,929 $40,995,069 -1.13%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

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
Massachusetts Mutual Life Ins. Co. Investment management fees paid indirectly by plan, Sub-transfer agency fees, Recordkeeping fees, Soft dollars commissions, Other investment fees and expenses Contract Administrator $118,194 $0 $118,194
Kestra Advisory Services LLC Investment advisory (plan) Investment Advisor $0 $64,779 $64,779
Ab Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Beacon Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Century Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Century Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Calvert Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Jp Morgan Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Pgim Investments Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Vanguard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Vanguard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Vanguard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Voya Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Total $118,194 $64,779 $182,973

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Massachusetts Mutual Life Ins. Co. Premier Intandaposl Equity Fd Ofi I Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Prem U.S. Govt Mny Mkt Fd Barings Investment management fees paid indirectly by plan, Other investment fees and expenses Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Mid Cap Gr Fd Trp Frontier Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Premier High Yield Fund Barings Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Trp Ls Blue Chip Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Calvert Balanced Fund Sub-transfer agency fees Basis Points * Plan Assets $0
Kestra Advisory Services LLC Massachusetts Mutual Life Ins. Co. Investment advisory (plan) Plan Related Expenses $64,779
Ab Funds Ab Global Bond Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Beacon American Beacon Small Cap Val Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Century American Century Mid Cap Value Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Century American Century Emerging Market Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Funds New World Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Calvert Calvert Balanced Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2020 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2025 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2030 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2035 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2040 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2045 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2050 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend 2055 Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Jp Morgan Jpmorgan Smartrtrmt Blend Incm Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Pgim Investments Pgim Total Return Bond Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Inflation-Protectd Secs Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Shrt-Trm Investment-Grd Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Developed Markets Index Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Equity-Income Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Lifestrategy Con Gr Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Lifestrategy Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Lifestrategy Income Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Lifestrategy Mod Gr Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Real Estate Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Total Bond Mrkt Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard 500 Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Mid Cap Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Small Cap Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Voya Funds Voya Smallcap Opportunities Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
*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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 1,009
EIN 04-1590850
Industry Code 65935
Contract Number MR 61464
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $6,066,696
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 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 $5,667,087
Additions $730,151
Contributions Deposited during the year $491,170
Dividends and credits $0
Interest credited during the year $125,426
Transferred from separate account $59,234
Other $54,321
Total of Balance and Additions $6,397,238
Deductions $330,542
Disbursed from fund to pay benefits or purchase annuities during the year $283,755
Administration charge made by carrier $25,220
Transferred to Separate Account $0
Other $21,567
Balance at the end of the current year $6,066,696