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FORM 5500 DATA

Abacus Service Corporation 401k Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/2006
  • Net Assets as of 12/31/2017 $928,753
  • 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 12/31/2017

  • Active (Eligible) Participants184
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits23
  • Subtotal207
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total207
  • Total number of participants as of 01/01/2017230
  • Number of participants with account balances52
  • 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

  • Address25925 Telegraph, Suite 206
  • CitySouthfield
  • StateMI
  • Zip48033
  • Telephone(248) 324-9200
  • EIN20-2060203
  • Industry Code561300
  • Named AdministratorSirisha Akunuri
  • Named Plan SponsorSirisha Akunuri

Audit Information

  • Audit StatusAudited
  • AuditorGordon Advisors, Pc
  • Auditor EIN38-2656556
  • 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.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $80,599
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 $405,021
Contributions $250,762
Cash Contributions $250,762
Cash from Employers $13,772
Cash from Participants $207,639
Others (including rollovers) $29,351
Noncash Contributions $0
Total Earnings on Investments $154,259
Total Interest $384
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $384
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 $153,875
Other Income $0
Expenses $282,262
Total Benefit Payments $280,329
Directly to participants or beneficiaries, including direct rollovers $280,329
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 $1,933
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $1,500
Other Administrative Fees $433
Net Income $122,759
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $933,758 $815,891 14.45%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $4,300 $7,412 -41.99%
Employer Contributions $55 $78 -29.49%
Participant Contributions $4,245 $7,334 -42.12%
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 $13,534 $9,456 43.13%
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 $915,924 $799,023 14.63%
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 $5,005 $9,897 -49.43%
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) $5,005 $9,897 -49.43%
Net Assets $928,753 $805,994 15.23%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • John Hancock, USA

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 Life Insurance Company Recordkeeping and information management (computing, tabulating, data processing, etc.) $433 $0 $433
Total $433 $0 $433

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
Jh Multimanager Growth Ls John Hancock USA DFE: Pooled Separate Account $208,716
Jh Multimanager Aggressive Ls John Hancock USA DFE: Pooled Separate Account $83,860
Jh Multimanager Balanced Ls John Hancock USA DFE: Pooled Separate Account $67,237
Jh Multimanager 2025 Lifetime John Hancock USA DFE: Pooled Separate Account $51,500
The Growth Fund of America John Hancock USA DFE: Pooled Separate Account $45,889
American Balanced Fund John Hancock USA DFE: Pooled Separate Account $45,035
Total Stock Market Index Fund John Hancock USA DFE: Pooled Separate Account $38,133
Fidelity Contrafund John Hancock USA DFE: Pooled Separate Account $34,330
Jh Multimanager Moderate Ls John Hancock USA DFE: Pooled Separate Account $32,734
Europacific Growth Fund John Hancock USA DFE: Pooled Separate Account $31,529
Blackrock Global Allocation John Hancock USA DFE: Pooled Separate Account $30,188
Mutual Global Discovery John Hancock USA DFE: Pooled Separate Account $19,657
Mid Cap Index Fund John Hancock USA DFE: Pooled Separate Account $19,330
Pimco All Asset John Hancock USA DFE: Pooled Separate Account $18,736
High Yield Fund John Hancock USA DFE: Pooled Separate Account $18,000
Jh Multimanager 2045 Lifetime John Hancock USA DFE: Pooled Separate Account $16,429
Small Cap Index Fund John Hancock USA DFE: Pooled Separate Account $15,325
Jh Multimanager 2040 Lifetime John Hancock USA DFE: Pooled Separate Account $13,316
Oppenheimer Global John Hancock USA DFE: Pooled Separate Account $12,335
Jh Multimanager 2030 Lifetime John Hancock USA DFE: Pooled Separate Account $10,999
Vanguard Mid-Cap Value Etf John Hancock USA DFE: Pooled Separate Account $10,686
Jh Multimanager 2050 Lifetime John Hancock USA DFE: Pooled Separate Account $9,107
Vanguard Mid-Cap Growth Etf John Hancock USA DFE: Pooled Separate Account $9,094
Dfa Emerging Markets Value John Hancock USA DFE: Pooled Separate Account $8,615
Vanguard Growth Index Fund John Hancock USA DFE: Pooled Separate Account $7,784
T. Rowe Price Sml Cap Val John Hancock USA DFE: Pooled Separate Account $7,156
Fidelity Adv New Insights John Hancock USA DFE: Pooled Separate Account $6,421
Jh Multimanager 2035 Lifetime John Hancock USA DFE: Pooled Separate Account $5,910
500 Index Fund John Hancock USA DFE: Pooled Separate Account $4,861
T. Rowe Price Health Sci John Hancock USA DFE: Pooled Separate Account $3,671
Intl Equity Index Fund John Hancock USA DFE: Pooled Separate Account $3,039
Jh Multimanager Conserv Ls John Hancock USA DFE: Pooled Separate Account $3,038
Intl Small Cap Fund John Hancock USA DFE: Pooled Separate Account $2,426
Oppenheimer Developing Mkt John Hancock USA DFE: Pooled Separate Account $2,331
Vanguard Value Index Fund John Hancock USA DFE: Pooled Separate Account $2,283
Mid Value Fund John Hancock USA DFE: Pooled Separate Account $1,492
Vanguard Small Cap Value Index John Hancock USA DFE: Pooled Separate Account $1,350
Vanguard Small Cap Grow Index John Hancock USA DFE: Pooled Separate Account $1,320
American Century Heritage John Hancock USA DFE: Pooled Separate Account $1,307
Washington Mutual Investors John Hancock USA DFE: Pooled Separate Account $1,234
Investment Company of America John Hancock USA DFE: Pooled Separate Account $1,223
Pimco Global Bond John Hancock USA DFE: Pooled Separate Account $1,171
Fidelity Advisor Total Bond John Hancock USA DFE: Pooled Separate Account $1,090
Utilities Fund John Hancock USA DFE: Pooled Separate Account $1,081
Invesco Small Cap Growth John Hancock USA DFE: Pooled Separate Account $1,006
Vanguard Short-Term Federal John Hancock USA DFE: Pooled Separate Account $974
Vanguard Energy Fund John Hancock USA DFE: Pooled Separate Account $957
T. Rowe Price Sci & Tech John Hancock USA DFE: Pooled Separate Account $769
Capital Appreciation Fund John Hancock USA DFE: Pooled Separate Account $732
Blue Chip Growth Fund John Hancock USA DFE: Pooled Separate Account $444
Dfa International Value John Hancock USA DFE: Pooled Separate Account $38
Science & Technology Fund John Hancock USA DFE: Pooled Separate Account $37
Total $915,925

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company U.S.A. 56
EIN 01-0233346
Industry Code 65838
Contract Number 92323
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $915,924
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $5,878
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Mt and W Associates, Inc. 729 W. Ann Arbor Trail Plymouth, MI 48170 Insurance Agent or Broker $5,419 $0
Great Lakes Pension Associates, Inc 37923 West Twelve Mile Road Farmington Hills, MI 48331 Third Party Administrator $0 $459 TPA FORUM - NOT PART OF CONTRACT CHARGES OR PLAN COSTS
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 $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