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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan11/01/1976
  • Net Assets as of 12/31/2019 $14,300,398
  • 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
  • Report Description This is an amended report.
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants148
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits412
  • Subtotal560
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total560
  • Total number of participants as of 01/01/2019521
  • Number of participants with account balances483
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested24

Expenses

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

Sponsor Information

  • Address937 Fulton Street
  • CityBrooklyn
  • StateNY
  • Zip11238
  • Telephone(718) 260-2451
  • EIN13-2642451
  • Industry Code621420
  • Named AdministratorIrving Dela Cruz
  • Named Plan SponsorIrving Dela Cruz

Audit Information

  • Audit StatusAudited
  • AuditorMarks Paneth Lp
  • Auditor EIN11-3518842
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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? 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 $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 $2,292,653
Contributions $561,454
Cash Contributions $561,454
Cash from Employers $561,454
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $1,730,759
Total Interest $156,999
Interest-Bearing Cash $150,857
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,142
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 $1,573,760
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 $0
Other Income $440
Expenses $1,060,906
Total Benefit Payments $1,058,606
Directly to participants or beneficiaries, including direct rollovers $1,058,606
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 $2,300
Professional Fees $0
Contract Administrator Fees $2,300
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $1,231,747
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $2,882,656

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $14,300,398 $15,951,307 -10.35%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $561,454 $264,282 112.45%
Employer Contributions $561,454 $264,282 112.45%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $623,612 $612,885 1.75%
Interest-bearing cash $623,612 $612,885 1.75%
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 $133,388 $278,602 -52.12%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $8,558,940 $8,794,168 -2.67%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $4,423,004 $6,001,370 -26.30%
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 $14,300,398 $15,951,307 -10.35%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Retirement Insurance&Annuity

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
Voya Retirement Insurance and Annui Investment advisory (plan) Service Provi Der $0 $6,391 $6,391
Morningstar Investment advisory (plan) Service Provi Der $0 $6,391 $6,391
Total $0 $12,782 $12,782

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Voya Retirement Insurance & Annuity Voya Retirement Insurance & Annuity Investment advisory (plan) Investment Advisory Plan $6,391
Morningstar Voya Retirement Insurance & Annuity Investment advisory (plan) Investment Advisory Plan $6,391
*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
Map Contract Separate Account D Voya Retirement Insurance and Annuity Co DFE: Pooled Separate Account $8,558,940
Total $8,558,940

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Voya Retirement Insurance and Annuity Company 483
EIN 71-0294708
Industry Code 86509
Contract Number 887065
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $4,423,004
Value in Separate Accounts at Year End $8,558,940
Insurance Fees and Commissions $37,728
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Cetera Advisor Networks LLC 200 B Sepulveda Blvd Ste 1200 El Segundo, CA 90245 Insurance Agent or Broker $31,455 $0
Heritage Administrative Svcs LLC 100 Crossways Park West, Ste 413 Woodbury, NY 11797 Third Party Administrator $0 $6,273
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 PENSION FUNDING
Balance at the end of the previous year $6,001,370
Additions $366,745
Contributions Deposited during the year $64,816
Dividends and credits $0
Interest credited during the year $137,229
Transferred from separate account $119,958
Other $44,742
Total of Balance and Additions $6,368,115
Deductions $1,945,111
Disbursed from fund to pay benefits or purchase annuities during the year $342,890
Administration charge made by carrier $690
Transferred to Separate Account $0
Other $1,601,531
Balance at the end of the current year $4,423,004