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Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan01/01/1993
  • Net Assets as of 12/31/2008 $11,695,482
  • 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 12/31/2008

  • Active (Eligible) Participants416
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits162
  • Subtotal579
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total579
  • Total number of participants as of 01/01/2008579
  • Number of participants with account balances435
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested27
  • Number of participants required to be reported on Schedule SSA28

Expenses

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

Sponsor Information

  • Address270 Sylvan Avenue
  • CityEnglewood Cliffs
  • StateNJ
  • Zip07632-2523
  • Telephone(201) 569-6699
  • EIN22-2941345
  • Industry Code511120
  • Named Plan Sponsor/ I^Aoai

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Audit Information

  • Audit StatusAudited
  • AuditorGraf Repetti & Co., LLP
  • Auditor EIN13-4038080
  • 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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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

Financials

Income and Expense Statement

Income $-3,566,786
Contributions $2,052,929
Cash Contributions $2,052,929
Cash from Employers $280,402
Cash from Participants $1,733,264
Others (including rollovers) $39,263
Noncash Contributions $0
Total Earnings on Investments $-5,676,549
Total Interest $11,615
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $11,615
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 $-5,688,164
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 $56,834
Expenses $569,717
Total Benefit Payments $560,157
Directly to participants or beneficiaries, including direct rollovers $560,157
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 $9,560
Professional Fees $0
Contract Administrator Fees $9,560
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-4,136,503
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $11,695,482 $15,831,985 -26.13%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $119,146 -100.00%
Employer Contributions $0 $3,491 -100.00%
Participant Contributions $0 $115,655 -100.00%
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 $103,825 $153,033 -32.16%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $9,859,878 $14,176,811 -30.45%
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 $1,731,779 $1,382,995 25.22%
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 $11,695,482 $15,831,985 -26.13%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Transamerica Life Ins Co Contract Administrator $0 $9,560 $9,560
Total $0 $9,560 $9,560

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Transamerica Equity Fund Transamerica Life Ins Co. DFE: Pooled Separate Account $2,784,464
Transamerica Balanced Fund Transamerica Life Ins Co. DFE: Pooled Separate Account $813,926
Fidelity Advisor Mid Cap Transamerica Life Ins Co DFE: Pooled Separate Account $765,410
American Funds New Perspect Transamerica Life Ins Co DFE: Pooled Separate Account $660,470
Transamerica Bond Fund Transamerica Life Ins Co. DFE: Pooled Separate Account $630,289
Janus Small Cap Value Transamerica Life Ins Co DFE: Pooled Separate Account $550,075
Dreyfus International Value Transamerica Life Ins Co. DFE: Pooled Separate Account $546,983
Partners Mid Value Transamerica Life Ins Co. DFE: Pooled Separate Account $499,139
Jpmorgan Govt Securities Transamerica Life Ins Co. DFE: Pooled Separate Account $450,758
American Funds Gth Fd of Am Transamerica Life Ins Co DFE: Pooled Separate Account $419,581
Loomis Sayles Bond Transamerica Life Ins Co. DFE: Pooled Separate Account $336,943
Growth Oppor Transamerica Life Ins Co. DFE: Pooled Separate Account $243,268
Partners High Yield Oppor Transamerica Life Ins Co. DFE: Pooled Separate Account $232,886
Partners Core Bond Transamerica Life Ins Co. DFE: Pooled Separate Account $227,713
Vanguard Total Stk Market Index Transamerica Life Ins Co DFE: Pooled Separate Account $135,163
Vanguard International Index Transamerica Life Ins Co DFE: Pooled Separate Account $85,417
Vang Tg Ret 2010 Transamerica Life Ins Co DFE: Pooled Separate Account $79,953
Franklin Flex Cap Growth Transamerica Life Ins Co DFE: Pooled Separate Account $77,960
Fidelity Adv Leveraged Co Stk Transamerica Life Ins Co DFE: Pooled Separate Account $69,957
Vanguard Small-Cap Value Index Transamerica Life Ins Co DFE: Pooled Separate Account $57,678
Loomis Sayles Inv Grade Bond Transamerica Life Ins Co DFE: Pooled Separate Account $45,688
Fidelity Advisor Equity Income Transamerica Life Ins Co DFE: Pooled Separate Account $31,541
Fidelity Advisor Small Cap Transamerica Life Ins Co DFE: Pooled Separate Account $25,111
Vang Tg Ret 2030 Transamerica Life Ins Co DFE: Pooled Separate Account $24,078
Vanguard Target Ret 2015 Transamerica Life Ins Co DFE: Pooled Separate Account $16,111
Vanguard Target Ret 2035 Transamerica Life Ins Co DFE: Pooled Separate Account $16,057
Vanguard Pacific Stk Index Transamerica Life Ins Co DFE: Pooled Separate Account $9,037
Vanguard European Stk Index Transamerica Life Ins Co DFE: Pooled Separate Account $7,519
Vang Tg Ret 2050 Transamerica Life Ins Co DFE: Pooled Separate Account $5,518
Vanguard Small-Cap Growth Index Transamerica Life Ins Co DFE: Pooled Separate Account $4,601
Vang Tg Ret 2040 Transamerica Life Ins Co DFE: Pooled Separate Account $2,940
Vanguard Target Ret 2045 Transamerica Life Ins Co DFE: Pooled Separate Account $2,188
Vang Tg Ret 2025 Transamerica Life Ins Co DFE: Pooled Separate Account $913
Vang Small-Cap Index Transamerica Life Ins Co DFE: Pooled Separate Account $542
Total $9,859,877

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Life Insurance Co. 435
EIN 39-0989781
Industry Code 86231
Contract Number 996043-000
Contract Year 01/01/2008 — 12/31/2008
Value in General Account at Year End $0
Value in Separate Accounts at Year End $9,859,878
Insurance Fees and Commissions $23,941
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Robert Nuzzi 40 Marcus Dr. 3Rd Fl. Melville, NY 11747 Insurance Agent or Broker $23,941 $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
Balance at the end of the previous year $1,382,995
Additions $652,632
Contributions Deposited during the year $192,381
Dividends and credits $0
Interest credited during the year $56,856
Transferred from separate account $386,269
Other $17,126
Total of Balance and Additions $2,035,627
Deductions $303,847
Disbursed from fund to pay benefits or purchase annuities during the year $87,847
Administration charge made by carrier $1,007
Transferred to Separate Account $214,985
Other $8
Balance at the end of the current year $1,731,780