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Mary Ann Morse Healthcare Corp. 401k Plan


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan07/01/2007
  • Net Assets as of 12/31/2019 $4,448,925
  • 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 12/31/2019

  • Active (Eligible) Participants299
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits26
  • Subtotal327
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total327
  • Total number of participants as of 01/01/2019317
  • Number of participants with account balances113
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested3


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

Sponsor Information

  • Address45 Union Street
  • CityNatick
  • StateMA
  • Zip01760
  • Telephone(508) 788-6050
  • EIN22-3064323
  • Industry Code621610

Audit Information

  • Audit StatusAudited
  • AuditorAafcpas, Inc.
  • Auditor EIN04-2571780
  • 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.
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.
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? 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 $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? 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


Income and Expense Statement

Income $1,519,232
Contributions $643,786
Cash Contributions $643,786
Cash from Employers $61,054
Cash from Participants $380,960
Others (including rollovers) $201,772
Noncash Contributions $0
Total Earnings on Investments $846,759
Total Interest $3,272
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,139
Interest from Other Investments $1,133
Total Dividends $6,622
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 $1,415
Net investment gain (loss) from pooled separate accounts $260,608
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 $574,842
Other Income $28,687
Expenses $540,196
Total Benefit Payments $521,791
Directly to participants or beneficiaries, including direct rollovers $521,791
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 $18,405
Professional Fees $826
Contract Administrator Fees $0
Investment Advisory and management fees $17,579
Other Administrative Fees $0
Net Income $979,036
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 $4,449,605 $3,469,889 28.23%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,430 $690 107.25%
Employer Contributions $1,223 $690 77.25%
Participant Contributions $207 $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 $64,472 $0 0.0%
Value of interest in common/collective trusts $0 $252,003 -100.00%
Value of interest in pooled separate accounts $4,234,825 $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 $0 $3,217,196 -100.00%
Value of funds held in insurance co. general account $148,878 $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 $680 $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) $680 $0 0.0%
Net Assets $4,448,925 $3,469,889 28.22%

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
Commonwealth Financial Network Investment advisory (participants), Investment advisory (plan), Investment management, Direct payment from the plan, Investment management fees paid directly by plan $14,636 $0 $14,636
Mass Mutual Retirement Svcs. Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Participant communication, Other services, Direct payment from the plan, Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees, Other investment fees and expenses, Other fees $2,493 $0 $2,493
Voya Retirement Ins & Ann Co. Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment advisory (plan), Direct payment from the plan, Other fees $450 $380 $830
Total $17,579 $380 $17,959

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
Map Voya Ret Ins & Ann Co Sep Act D Voya Retirement Insurance & Annuity Co DFE: Pooled Separate Account $4,234,825
Invesco Stable Value Trust V Invesco Trust Company DFE: Common/Collective Trust $0
Total $4,234,825

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Voya Retirement Insurance and Annuity Company 114
EIN 71-0294708
Industry Code 86509
Contract Number 81D141
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $148,878
Value in Separate Accounts at Year End $4,234,825
Insurance Fees and Commissions $6,551
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Bds Consulting Group, Inc. 324 Grove Street Worcester, MA 01605 Third Party Administrator $0 $6,551 TPA FEES
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
Balance at the end of the previous year $0
Additions $154,176
Contributions Deposited during the year $5,386
Dividends and credits $0
Interest credited during the year $15,184
Transferred from separate account $0
Other $133,606
Total of Balance and Additions $154,176
Deductions $5,298
Disbursed from fund to pay benefits or purchase annuities during the year $4,093
Administration charge made by carrier $29
Transferred to Separate Account $0
Other $1,176
Balance at the end of the current year $148,878