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FORM 5500 DATA

NECA-IBEW Memphis Retirement Plan

Overview

Plan Information

  • Plan Year04/01/2010 — 03/31/2011
  • Date of Plan12/01/1982
  • Net Assets as of 03/31/2011 $87,322,167
  • Plan Number2
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 03/31/2011

  • Active (Eligible) Participants1,805
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits54
  • Subtotal1,860
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,860
  • Total number of participants as of 04/01/20101,879
  • Number of participants with account balances1,770
  • 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

  • Address6525 Centurion Drive
  • CityLansing
  • StateMI
  • Zip48917-9275
  • Telephone(517) 321-7502
  • EIN62-1256120
  • Industry Code238210
  • Named AdministratorPaul Shaffer
  • Named Plan SponsorLonnie E. Loeffel

Plan Administrator Information

  • Administrator NameNeca-Ibew Memphis Retirement Plan
  • Address6525 Centurion Drive
  • CityLansing
  • StateMI
  • Zip48917-9275
  • Telephone(517) 321-7502
  • Administrator EIN62-1256120

Audit Information

  • Audit StatusAudited
  • AuditorClack & Associates, Pc
  • Auditor EIN26-3667119
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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.
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.
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? 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 $1,000,000
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 $13,355,406
Contributions $5,015,942
Cash Contributions $5,015,942
Cash from Employers $5,015,942
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $8,282,488
Total Interest $513,505
Interest-Bearing Cash $726
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $512,779
Total Dividends $1,353,232
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 $6,415,751
Other Income $56,976
Expenses $6,296,084
Total Benefit Payments $6,005,404
Directly to participants or beneficiaries, including direct rollovers $6,005,404
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 $290,680
Professional Fees $73,823
Contract Administrator Fees $37,200
Investment Advisory and management fees $133,978
Other Administrative Fees $45,679
Net Income $7,059,322
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

03/31/2011 03/31/2010 Change YOY
Total Assets $87,413,877 $80,376,778 8.76%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $449,354 $585,674 -23.28%
Employer Contributions $449,354 $585,674 -23.28%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $1,219,170 $978,274 24.62%
Interest-bearing cash $1,219,170 $978,274 24.62%
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 $417,759 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 $68,670,895 $61,554,279 11.56%
Value of funds held in insurance co. general account $17,064,418 $16,826,615 1.41%
Other Investments $10,040 $14,177 -29.18%
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 $91,710 $113,933 -19.51%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $91,710 $113,933 -19.51%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $87,322,167 $80,262,845 8.80%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Massachusetts 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
Massachusetts Mutual Life Ins. Co. Investment management fees paid indirectly by plan, Sub-transfer agency fees, Recordkeeping fees Service Provider $86,802 $0 $86,802
Neca Memphis Ibew 474 Contract Administrator Contract Administrator $72,943 $0 $72,943
The Segal Company Consulting (general), Investment advisory (plan) Investment Consultant $70,296 $0 $70,296
Tic International Corporation Plan Administrator Contract Administrator $37,200 $0 $37,200
Sales, Tillman, Wallbaum Legal Legal $30,669 $0 $30,669
Clack & Associates, Pc Accounting (including auditing) Auditor $20,858 $0 $20,858
Neca Memphis Ibew Contract Administrator Contract Administrator $7,355 $0 $7,355
Neca Memphis Ibew Contract Administrator Contract Administrator $7,328 $0 $7,328
Massachusetts Mutual Life Ins. Co. Sub-transfer agency fees $0 $0 $0
Massachusetts Mutual Life Ins. Co. Sub-transfer agency fees $0 $0 $0
Massachusetts Mutual Life Ins. Co. Sub-transfer agency fees $0 $0 $0
Massachusetts Mutual Life Ins. Co. Sub-transfer agency fees $0 $0 $0
Total $333,451 $0 $333,451

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Massachusetts Mutual Life Ins. Co. Victory Diversified Stock Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Allianz Nfj Small Cap Value Fund Sub-transfer agency fees Base Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Allianz Nfj Dividend Value Fund Sub-transfer agency fees Base Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Tcw Small Cap Growth Fund Sub-transfer agency fees Base Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Rainier Large Cap Equity Fund Sub-transfer agency fees Base Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. American Funds New Perspective Fund Sub-transfer agency fees Base 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

Name of Investment Investment Manager Type of Investment Dollar Value
Sia-C4 Small - & Mid-Cap Value Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-X Select Indexed Equity Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Te Select Strategic Bond Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Sy Select Small Cap Value Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Sv Select Focused Value Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Nh Select Overseas Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Sc Select Smail Cap Growth Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Nd Premier Global Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Nc Premier Capital Appreciation Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Nb Quest Balanced Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Mk Sel Dersified Value Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-M1 Destination Retirement 2040 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-K6 Destination Retirement 2030 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-K1 Destination Retirement 2020 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-J6 Destination Retirement 2010 Massachusets Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-J1 Destination Retirement Incom Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Sia-Yg Premier Money Market Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 1,861
EIN 04-1590850
Industry Code 65935
Contract Number MR 60336
Contract Year 04/01/2010 — 03/31/2011
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 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 $16,826,615
Additions $1,693,018
Contributions Deposited during the year $749,772
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $943,246
Other $0
Total of Balance and Additions $18,519,633
Deductions $1,455,215
Disbursed from fund to pay benefits or purchase annuities during the year $1,441,711
Administration charge made by carrier $13,504
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $17,064,418