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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan10/01/2009
  • Net Assets as of 12/31/2017 $6,228,288
  • 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 12/31/2017

  • Active (Eligible) Participants719
  • Retired or separated participants receiving benefits10
  • Other retired or separated participants entitled to future benefits73
  • Subtotal802
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total802
  • Total number of participants as of 01/01/2017754
  • Number of participants with account balances245
  • 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 AdministratorGerard P. Finn

Audit Information

  • Audit StatusAudited
  • AuditorPfk O'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? 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? 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 $1,137,189
Contributions $485,902
Cash Contributions $485,902
Cash from Employers $0
Cash from Participants $485,902
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $631,626
Total Interest $68,698
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,555
Interest from Other Investments $62,143
Total Dividends $170,746
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 $392,182
Other Income $19,661
Expenses $270,653
Total Benefit Payments $237,400
Directly to participants or beneficiaries, including direct rollovers $237,400
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $8,119
Interest expense $0
Total Administrative Expenses $25,134
Professional Fees $0
Contract Administrator Fees $25,134
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $866,536
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 $6,228,288 $5,361,752 16.16%
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 $154,814 $154,103 0.46%
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 $3,780,546 $3,254,909 16.15%
Value of funds held in insurance co. general account $2,292,928 $1,952,740 17.42%
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 $6,228,288 $5,361,752 16.16%

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
Metlife Life Insurance Company Recordkeeping fees Recordkeeper $17,134 $0 $17,134
Usi Advisors Inc Consulting (general), Investment advisory (plan) Consulting $8,000 $0 $8,000
Msi Financial Services Inc. Other commissions Broker/Adviser $0 $215 $215
Mml Investors Services Other commissions Broker/Adviser $0 $138 $138
Total $25,134 $353 $25,487

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Mml Investors Services Metlife Life Insurance Company Other commissions Other Commissions $138
Msi Financial Services Inc. Metlife Life Insurance Company Other commissions Other Commissions $215
*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 of Ct 112
EIN 06-0566090
Industry Code 87726
Contract Number 1009850-01
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $2,292,928
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $252
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Msi Financial Services Inc. 1295 State Street Springfield, MA 01111 Insurance Agent or Broker $161 $0
Mml Investors Services 1295 State Street Springfield, MA 01111 Insurance Agent or Broker $91 $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 $1,952,740
Additions $423,365
Contributions Deposited during the year $195,031
Dividends and credits $0
Interest credited during the year $62,143
Transferred from separate account $142,955
Other $23,236
Total of Balance and Additions $2,376,105
Deductions $83,177
Disbursed from fund to pay benefits or purchase annuities during the year $73,999
Administration charge made by carrier $755
Transferred to Separate Account $8,423
Other $0
Balance at the end of the current year $2,292,928