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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1998
  • Net Assets as of 12/31/2019 $786,367,108
  • Plan Number3
  • Plan Type Multiple 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) Participants4,894
  • Retired or separated participants receiving benefits77
  • Other retired or separated participants entitled to future benefits1,491
  • Subtotal6,462
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total6,462
  • Total number of participants as of 01/01/20196,377
  • Number of participants with account balances6,255
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested141

Expenses

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

Sponsor Information

  • Address700 West 47th Street Suite 1100
  • CityKansas City
  • StateMO
  • Zip64112
  • Telephone(816) 945-5500
  • EIN22-2769024
  • Industry Code541990
  • Named AdministratorPhilip P. Noftsinger
  • Named Plan SponsorPhilip P. Noftsinger

Audit Information

  • Audit StatusAudited
  • AuditorKPMG LLP
  • Auditor EIN13-5565207
  • 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.
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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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? Yes $4,972
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 $15,000,000
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 $197,197,822
Contributions $61,748,522
Cash Contributions $61,748,522
Cash from Employers $11,127,721
Cash from Participants $36,798,297
Others (including rollovers) $13,822,504
Noncash Contributions $0
Total Earnings on Investments $133,637,071
Total Interest $5,296,228
Interest-Bearing Cash $761
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $326,867
Interest from Other Investments $4,968,600
Total Dividends $15,863,004
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $4,783
Aggregate Proceeds $58,978
Aggregate Carrying Amount $54,195
Total Unrealized Appreciation (depreciation) of assets $194,259
Real Estate $0
Other $194,259
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $47,151,921
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 $65,126,876
Other Income $1,812,229
Expenses $49,552,336
Total Benefit Payments $48,872,414
Directly to participants or beneficiaries, including direct rollovers $48,877,329
To insurance carriers for the provision of benefits $-4,915
Other Benefit Payment Fees $0
Corrective Distributions $2,389
Certain deemed distributions of participant loans $-43
Interest expense $0
Total Administrative Expenses $677,576
Professional Fees $37,418
Contract Administrator Fees $619,820
Investment Advisory and management fees $20,263
Other Administrative Fees $75
Net Income $147,645,486
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 $786,367,108 $638,721,622 23.12%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,686,645 $1,605,782 5.04%
Employer Contributions $589,656 $549,174 7.37%
Participant Contributions $1,096,989 $1,056,608 3.82%
Other Contributions $0 $0 0.0%
General Investments $30,383 $37,263 -18.46%
Interest-bearing cash $30,383 $37,263 -18.46%
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 $6,119,098 $5,922,593 3.32%
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 $631,030,896 $495,939,027 27.24%
Value of funds held in insurance co. general account $137,554,254 $127,305,766 8.05%
Other Investments $9,225,110 $7,330,356 25.85%
Employer-related Investments $720,722 $580,835 24.08%
Employer Securities $720,722 $580,835 24.08%
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 $786,367,108 $638,721,622 23.12%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Charles Schwab Investment Managemen

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. Other services, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Soft dollars commissions, Securities brokerage commissions and fees, Other investment fees and expenses Contract Administrator $619,895 $4,190 $624,085
Grp Advisor Alliance Investment advisory (plan), Direct payment from the plan Financial Wellness Progra $29,681 $0 $29,681
KPMG Accounting (including auditing) Auditor $28,000 $0 $28,000
Mra Associates Securities brokerage commissions and fees Investment Service Provid $18,700 $0 $18,700
Charles Schwab & Co., Inc. Shareholder servicing fees, Float revenue, Securities brokerage commissions and fees Investment Service Provid $1,705 $0 $1,705
American Beacon Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
American Funds Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Invesco Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Vanguard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Vanguard Investment management fees paid indirectly by plan Investment Provider $0 $0 $0
Total $697,981 $4,190 $702,171

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Massachusetts Mutual Life Ins. Co. Sagic 51650 Other investment fees and expenses, Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Prem U.S. Govt Money Mrkt Barings Other investment fees and expenses, Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Premier Core Bond Barings Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Sm Cp Gr Wellingtoninv Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Mid Cap Gr Trpfrontier Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Sel Fundamental Val Brwhnlybspt Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Millennium Trust Company, LLC Other services Referral Fee $0
Massachusetts Mutual Life Ins. Co. Select American Century Mid Cap Val Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Massachusetts Mutual Life Ins. Co. Charles Schwab & Co, Inc. Securities brokerage commissions and fees Plan Related Expenses $4,190
Charles Schwab & Co., Inc. Aqr Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Buffalo Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Stone Ridge Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Stone Ridge Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Fidelity Investments Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Allianz Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Cohen & Steers Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Fmi Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Janus Henderson Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Legg Mason Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. T. Rowe Price Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Highland Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Wasatch Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Columbia Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Schwab Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Primecap Odyssey Funds Shareholder servicing fees Basis Points * Plan Assets $0
Charles Schwab & Co., Inc. Metropolitan West Funds Shareholder servicing fees Basis Points * Plan Assets $0
American Beacon American Beacon Small Cap Val Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Am Funds Cons Grth & Inc Prtfl Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds Amer Funds Europacific Growth Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2010 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2015 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2020 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2025 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2030 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2035 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2040 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2045 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2050 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2055 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Fnds 2060 Target Dt Ret Fd Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Funds Grth Fund of America Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
American Funds American Funds Balanced Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Invesco Invesco Oppenheimer Global Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard 500 Index Vanguard Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Mid Cap Index Vanguard Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Small Cap Index Vanguard Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Growth Index Fund Investment management fees paid indirectly by plan Basis Points * Plan Assets $0
Vanguard Vanguard Windsor II Fund Investment management fees paid indirectly by plan Basis 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-Cnd 500 Index Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $96,097,616
Sia-Ed Premier Core Bond Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $35,594,608
Sia-Uh Select Mid Cap Gr Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $34,584,331
Sia-Ia Select Sm Cp Gr Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $17,940,640
Sia-Cnf Mid Cap Index Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $8,876,183
Sia-Cnj Small Cap Index Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $8,314,077
Sia-Cac Select American Century Mid Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $7,059,332
Sia-Yg Prem U.S. Govt Money Mrkt Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $124,618
Sia-Ky Sel Fundamental Val Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $0
Total $208,591,405

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 6,462
EIN 04-1590850
Industry Code 65935
Contract Number SF 51650
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $208,591,404
Insurance Fees and Commissions $215,000
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Cbiz Benefits & Ins Serv Inc 700 W 47th St Ste 1100 Kansas City, MO 64112 Agent or Broker other than Insurance $215,000 $0
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 $127,305,765
Additions $80,433,379
Contributions Deposited during the year $47,845,155
Dividends and credits $0
Interest credited during the year $4,968,600
Transferred from separate account $10,213,606
Other $17,406,018
Total of Balance and Additions $207,739,144
Deductions $70,184,891
Disbursed from fund to pay benefits or purchase annuities during the year $10,073,527
Administration charge made by carrier $94,543
Transferred to Separate Account $59,601,655
Other $415,166
Balance at the end of the current year $137,554,253
Massachuetts Mutual Life Insurance Company 1
EIN 04-1590850
Industry Code 65935
Contract Number 007044007
Contract Year 01/01/2019 — 12/31/2019
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 Individual Policies
Basis of premium rates
Premiums paid to carrier $451
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