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FORM 5500 DATA

T-Solutions 401k Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2004
  • Net Assets as of 12/31/2019 $23,047,785
  • 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 Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants314
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits95
  • Subtotal410
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total410
  • Total number of participants as of 01/01/2019354
  • Number of participants with account balances398
  • 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

  • Address860 Greenbrier Circle Suite 600
  • CityChesapeake
  • StateVA
  • Zip23320
  • Telephone(757) 410-9450
  • EIN02-0554450
  • Industry Code541600

Audit Information

  • Audit StatusAudited
  • AuditorCharles W. Snader, P.C.
  • Auditor EIN54-1873714
  • 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.
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.
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.

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 $106
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? Yes $24,546
If this is an individual account plan, was there a blackout period? Yes
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? Yes

Financials

Income and Expense Statement

Income $7,303,063
Contributions $3,625,964
Cash Contributions $3,625,964
Cash from Employers $501,040
Cash from Participants $2,645,055
Others (including rollovers) $479,869
Noncash Contributions $0
Total Earnings on Investments $3,643,302
Total Interest $28,866
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $28,866
Interest from Other Investments $0
Total Dividends $271,263
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 $12,129
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 $3,331,044
Other Income $33,797
Expenses $3,163,260
Total Benefit Payments $3,105,679
Directly to participants or beneficiaries, including direct rollovers $3,105,679
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $8
Interest expense $0
Total Administrative Expenses $57,573
Professional Fees $0
Contract Administrator Fees $57,573
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $4,139,803
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $23,047,785 $18,907,982 21.89%
Total noninterest-bearing cash $0 $8,416 -100.00%
Receivables $88,223 $80,783 9.21%
Employer Contributions $88,223 $80,677 9.35%
Participant Contributions $0 $106 -100.00%
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 $482,512 $517,300 -6.72%
Value of interest in common/collective trusts $1,206,355 $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 $21,270,695 $18,301,483 16.22%
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 $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 $23,047,785 $18,907,982 21.89%

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
John Hancock Retirement Plan Servic Recordkeeping and information management (computing, tabulating, data processing, etc.), Trustee (bank, trust company, or similar financial institution), Investment management, Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Soft dollars commissions Recordkeeper $23,884 $0 $23,884
Bdo USA LLP Contract Administrator, Plan Administrator, Direct payment from the plan, Other fees TPA $8,800 $0 $8,800
Total $32,684 $0 $32,684

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
Stable Value Fund R6 John Hancock Global Trust Company DFE: Common/Collective Trust $1,206,355
Fundamental Large Cap Value John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Capital World Growth & Income John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Mid-Cap Value Etf John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Science & Technology Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Dodge & Cox Stock Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
John Hancock Bond Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Dfa Inflation-Protected Sec John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Energy Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Core Bond Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Templeton Global Bond Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
New Opportunities Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Mutual Global Discovery John Hancock Life Insurance Company DFE: Pooled Separate Account $0
High Yield Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Real Est. Securities Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Dfa U.S. Small Cap Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Templeton World John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Strategic Income Opp Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2060 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Ishares Gold Trust Etf John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Disciplined Value Mid Cap John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2030 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2020 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index Income Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
John Hancock Stable Val John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2035 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
500 Index Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2045 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Growth Index Fund John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2040 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Small Cap Grow Index John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2050 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2055 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Mid-Cap Growth Etf John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Fundamental Investors John Hancock Life Insurance Company DFE: Pooled Separate Account $0
T. Rowe Price Health Sci John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Fidelity Adv Leveraged Co Stk John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Small Cap Value Index John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Jh Multi-Index 2025 Preserv John Hancock Life Insurance Company DFE: Pooled Separate Account $0
Total $1,206,355

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company (U.S.A.) 0
EIN 01-0233346
Industry Code 65838
Contract Number 111976
Contract Year 01/01/2019 — 07/15/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $37,392
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Park Avenue Securities 448 Viking Drive Virginia Beach, VA 23452 Insurance Agent or Broker $23,827 $0
Bdo USA, LLP 150 Boush Street Norfolk, VA 23510 Third Party Administrator $0 $13,565 PLAN ADMINISTRATION
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 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