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Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan10/01/2009
  • Net Assets as of 12/31/2011 $3,092,435
  • Plan Number4
  • 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 12/31/2011

  • Active (Eligible) Participants713
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits70
  • Subtotal783
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total783
  • Total number of participants as of 01/01/2011827
  • Number of participants with account balances334
  • 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

  • Address100 North Broadway
  • CityIrvington
  • StateNY
  • Zip10533
  • Telephone(914) 591-7300
  • EIN13-1991946
  • Industry Code624100
  • Named AdministratorDan Margoshes
  • Named Plan SponsorGerard P Finn

Plan Administrator Information

  • Administrator NameAbbott House, Inc.
  • Address100 North Broadway
  • CityIrvington
  • StateNY
  • Zip10533
  • Telephone(914) 591-7300
  • Administrator EIN13-1991946

Audit Information

  • Audit StatusAudited
  • AuditorO'Connor Davies, LLP
  • Auditor EIN27-1728945
  • 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.
2L Code section 403(b)(1) arrangement A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.

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 $1,305,737
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? 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 $864,757
Contributions $865,843
Cash Contributions $865,843
Cash from Employers $2,820
Cash from Participants $857,902
Others (including rollovers) $5,121
Noncash Contributions $0
Total Earnings on Investments $-12,763
Total Interest $23,195
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $770
Interest from Other Investments $22,425
Total Dividends $40,912
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 $-76,870
Other Income $11,677
Expenses $163,052
Total Benefit Payments $152,386
Directly to participants or beneficiaries, including direct rollovers $152,386
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $2,000
Interest expense $0
Total Administrative Expenses $8,666
Professional Fees $0
Contract Administrator Fees $8,666
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $701,705
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $3,092,435 $2,390,730 29.35%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $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 $33,091 $6,825 384.85%
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 $2,030,640 $1,852,899 9.59%
Value of funds held in insurance co. general account $1,028,704 $531,006 93.73%
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 $3,092,435 $2,390,730 29.35%

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
Metropolitan Life Insurance Company Recordkeeping fees Recordkeeper $8,666 $0 $8,666
Metlife Securities Inc. Other commissions Broker/Adviser $0 $6,464 $6,464
Total $8,666 $6,464 $15,130

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Metlife Securities Inc. Metropolitan Life Other commissions Other Commisions $6,464
*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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Metropolitan Life Insurance Company 334
EIN 06-0566090
Industry Code 87726
Contract Number 1009850-01
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $1,028,704
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $4,622
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Metropolitan Life 1095 Avenue of The Americas New York, NY 10036 Insurance Agent or Broker $4,622 $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 $531,006
Additions $542,692
Contributions Deposited during the year $207,984
Dividends and credits $0
Interest credited during the year $22,425
Transferred from separate account $310,390
Other $1,893
Total of Balance and Additions $1,073,698
Deductions $44,994
Disbursed from fund to pay benefits or purchase annuities during the year $44,915
Administration charge made by carrier $79
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $1,028,704