VERIZON COMMUNICATIONS INC. has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS
401k plan membership statisitcs for GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS
Measure | Date | Value |
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2018: GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2018 401k membership |
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Market value of plan assets | 2018-12-31 | 186,281,410 |
Acturial value of plan assets | 2018-12-31 | 169,337,570 |
Funding target for retired participants and beneficiaries receiving payment | 2018-12-31 | 71,069,809 |
Number of terminated vested participants | 2018-12-31 | 1,348 |
Fundng target for terminated vested participants | 2018-12-31 | 49,930,814 |
Active participant vested funding target | 2018-12-31 | 23,685,639 |
Number of active participants | 2018-12-31 | 231 |
Total funding liabilities for active participants | 2018-12-31 | 26,487,416 |
Total participant count | 2018-12-31 | 2,616 |
Total funding target for all participants | 2018-12-31 | 147,488,039 |
Balance at beginning of prior year after applicable adjustments | 2018-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2018-12-31 | 20,465,665 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2018-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2018-12-31 | 0 |
Amount remaining of carryover balance | 2018-12-31 | 0 |
Amount remaining of prefunding balance | 2018-12-31 | 20,465,665 |
Present value of excess contributions | 2018-12-31 | 0 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2018-12-31 | 0 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2018-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2018-12-31 | 0 |
Balance of carryovers at beginning of current year | 2018-12-31 | 0 |
Balance of prefunding at beginning of current year | 2018-12-31 | 23,433,186 |
Total employer contributions | 2018-12-31 | 0 |
Total employee contributions | 2018-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2018-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2018-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2018-12-31 | 0 |
Unpaid minimum required contributions for all prior years | 2018-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2018-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2018-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2018-12-31 | 2,490,204 |
Net shortfall amortization installment of oustanding balance | 2018-12-31 | 1,583,655 |
Waiver amortization installment | 2018-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2018-12-31 | 2,748,735 |
Carryover balance elected to use to offset funding requirement | 2018-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2018-12-31 | 2,748,735 |
Additional cash requirement | 2018-12-31 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2018-12-31 | 0 |
Unpaid minimum required contributions for current year | 2018-12-31 | 0 |
Unpaid minimum required contributions for all years | 2018-12-31 | 0 |
2017: GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2017 401k membership |
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Market value of plan assets | 2017-12-31 | 182,174,605 |
Acturial value of plan assets | 2017-12-31 | 190,738,864 |
Funding target for retired participants and beneficiaries receiving payment | 2017-12-31 | 74,070,128 |
Number of terminated vested participants | 2017-12-31 | 1,393 |
Fundng target for terminated vested participants | 2017-12-31 | 51,268,619 |
Active participant vested funding target | 2017-12-31 | 21,304,593 |
Number of active participants | 2017-12-31 | 248 |
Total funding liabilities for active participants | 2017-12-31 | 25,854,298 |
Total participant count | 2017-12-31 | 2,720 |
Total funding target for all participants | 2017-12-31 | 151,193,045 |
Balance at beginning of prior year after applicable adjustments | 2017-12-31 | 0 |
Prefunding balance at beginning of prior year after applicable adjustments | 2017-12-31 | 5,316,760 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2017-12-31 | 0 |
Prefunding balanced used to offset prior years funding requirement | 2017-12-31 | 0 |
Amount remaining of carryover balance | 2017-12-31 | 0 |
Amount remaining of prefunding balance | 2017-12-31 | 5,316,760 |
Present value of excess contributions | 2017-12-31 | 13,948,391 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2017-12-31 | 14,767,162 |
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance | 2017-12-31 | 14,767,162 |
Reductions in caryover balances due to elections or deemed elections | 2017-12-31 | 0 |
Reductions in prefunding balances due to elections or deemed elections | 2017-12-31 | 0 |
Balance of carryovers at beginning of current year | 2017-12-31 | 0 |
Balance of prefunding at beginning of current year | 2017-12-31 | 20,465,665 |
Total employer contributions | 2017-12-31 | 0 |
Total employee contributions | 2017-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2017-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2017-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2017-12-31 | 0 |
Liquidity shortfalls end of Q1 | 2017-12-31 | 0 |
Liquidity shortfalls end of Q2 | 2017-12-31 | 0 |
Liquidity shortfalls end of Q3 | 2017-12-31 | 0 |
Liquidity shortfalls end of Q4 | 2017-12-31 | 0 |
Unpaid minimum required contributions for all prior years | 2017-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2017-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2017-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2017-12-31 | 2,663,057 |
Net shortfall amortization installment of oustanding balance | 2017-12-31 | 0 |
Waiver amortization installment | 2017-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2017-12-31 | 0 |
Carryover balance elected to use to offset funding requirement | 2017-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2017-12-31 | 0 |
Additional cash requirement | 2017-12-31 | 0 |
Contributions allocatedtoward minimum required contributions for current year | 2017-12-31 | 0 |
Unpaid minimum required contributions for current year | 2017-12-31 | 0 |
Unpaid minimum required contributions for all years | 2017-12-31 | 0 |
Total participants, beginning-of-year | 2017-01-01 | 2,720 |
Total number of active participants reported on line 7a of the Form 5500 | 2017-01-01 | 231 |
Number of retired or separated participants receiving benefits | 2017-01-01 | 763 |
Number of other retired or separated participants entitled to future benefits | 2017-01-01 | 1,348 |
Total of all active and inactive participants | 2017-01-01 | 2,342 |
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2017-01-01 | 274 |
Total participants | 2017-01-01 | 2,616 |
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2017-01-01 | 0 |
2016: GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2016 401k membership |
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Market value of plan assets | 2016-12-31 | 409,234,294 |
Acturial value of plan assets | 2016-12-31 | 424,899,787 |
Funding target for retired participants and beneficiaries receiving payment | 2016-12-31 | 77,558,140 |
Number of terminated vested participants | 2016-12-31 | 1,422 |
Fundng target for terminated vested participants | 2016-12-31 | 49,081,868 |
Active participant vested funding target | 2016-12-31 | 249,153,033 |
Number of active participants | 2016-12-31 | 2,737 |
Total funding liabilities for active participants | 2016-12-31 | 309,931,607 |
Total participant count | 2016-12-31 | 5,292 |
Total funding target for all participants | 2016-12-31 | 436,571,615 |
Balance at beginning of prior year after applicable adjustments | 2016-12-31 | 430 |
Prefunding balance at beginning of prior year after applicable adjustments | 2016-12-31 | 16,951,003 |
Carryover balanced portion elected for use to offset prior years funding requirement | 2016-12-31 | 430 |
Prefunding balanced used to offset prior years funding requirement | 2016-12-31 | 10,565,510 |
Amount remaining of carryover balance | 2016-12-31 | 0 |
Amount remaining of prefunding balance | 2016-12-31 | 6,385,493 |
Present value of excess contributions | 2016-12-31 | 0 |
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance | 2016-12-31 | 0 |
Balance of carryovers at beginning of current year | 2016-12-31 | 0 |
Balance of prefunding at beginning of current year | 2016-12-31 | 6,395,071 |
Total employer contributions | 2016-12-31 | 20,240,000 |
Total employee contributions | 2016-12-31 | 0 |
Contributions allocated toward unpaid minimum require contributions from prior years | 2016-12-31 | 0 |
Contributions made to avoid restrictions adjusted to valuation date | 2016-12-31 | 0 |
Contributions allocated toward minimum required contributions for current year adjusted to valuation date | 2016-12-31 | 18,850,362 |
Unpaid minimum required contributions for all prior years | 2016-12-31 | 0 |
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years | 2016-12-31 | 0 |
Remaining amount of unpaid minimum required contributions | 2016-12-31 | 0 |
Minimum required contributions for current year target normal cost | 2016-12-31 | 6,975,346 |
Net shortfall amortization installment of oustanding balance | 2016-12-31 | 18,066,899 |
Waiver amortization installment | 2016-12-31 | 0 |
Total funding amount beforereflecting carryover/prefunding balances | 2016-12-31 | 4,901,971 |
Carryover balance elected to use to offset funding requirement | 2016-12-31 | 0 |
Prefunding balance elected to use to offset funding requirement | 2016-12-31 | 0 |
Additional cash requirement | 2016-12-31 | 4,901,971 |
Contributions allocatedtoward minimum required contributions for current year | 2016-12-31 | 18,850,362 |
Unpaid minimum required contributions for current year | 2016-12-31 | 0 |
Unpaid minimum required contributions for all years | 2016-12-31 | 0 |
Total participants, beginning-of-year | 2016-01-01 | 5,292 |
Total number of active participants reported on line 7a of the Form 5500 | 2016-01-01 | 248 |
Number of retired or separated participants receiving benefits | 2016-01-01 | 804 |
Number of other retired or separated participants entitled to future benefits | 2016-01-01 | 1,393 |
Total of all active and inactive participants | 2016-01-01 | 2,445 |
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2016-01-01 | 275 |
Total participants | 2016-01-01 | 2,720 |
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2016-01-01 | 4 |
Measure | Date | Value |
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2018 : GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2018 401k financial data |
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Total unrealized appreciation/depreciation of assets | 2018-12-31 | $0 |
Total transfer of assets from this plan | 2018-12-31 | $165,762,892 |
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-12-31 | $0 |
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2018-12-31 | $0 |
Total income from all sources (including contributions) | 2018-12-31 | $-4,804,357 |
Total loss/gain on sale of assets | 2018-12-31 | $0 |
Total of all expenses incurred | 2018-12-31 | $15,714,161 |
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2018-12-31 | $15,284,001 |
Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2018-12-31 | $0 |
Value of total assets at end of year | 2018-12-31 | $0 |
Value of total assets at beginning of year | 2018-12-31 | $186,281,410 |
Total of administrative expenses incurred including professional, contract, advisory and management fees | 2018-12-31 | $430,160 |
Total interest from all sources | 2018-12-31 | $0 |
Total dividends received (eg from common stock, registered investment company shares) | 2018-12-31 | $0 |
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2018-12-31 | No |
Administrative expenses professional fees incurred | 2018-12-31 | $177,836 |
Was this plan covered by a fidelity bond | 2018-12-31 | Yes |
Value of fidelity bond cover | 2018-12-31 | $100,000,000 |
If this is an individual account plan, was there a blackout period | 2018-12-31 | No |
Were there any nonexempt tranactions with any party-in-interest | 2018-12-31 | No |
Administrative expenses (other) incurred | 2018-12-31 | $252,324 |
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2018-12-31 | No |
Value of net income/loss | 2018-12-31 | $-20,518,518 |
Value of net assets at end of year (total assets less liabilities) | 2018-12-31 | $0 |
Value of net assets at beginning of year (total assets less liabilities) | 2018-12-31 | $186,281,410 |
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2018-12-31 | No |
Were any loans by the plan or fixed income obligations due to the plan in default | 2018-12-31 | No |
Were any leases to which the plan was party in default or uncollectible | 2018-12-31 | No |
Value of interest in master investment trust accounts at end of year | 2018-12-31 | $0 |
Value of interest in master investment trust accounts at beginning of year | 2018-12-31 | $186,281,410 |
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2018-12-31 | No |
Was there a failure to transmit to the plan any participant contributions | 2018-12-31 | No |
Has the plan failed to provide any benefit when due under the plan | 2018-12-31 | No |
Employer contributions (assets) at beginning of year | 2018-12-31 | $0 |
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2018-12-31 | $15,284,001 |
Did the plan have assets held for investment | 2018-12-31 | No |
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2018-12-31 | No |
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2018-12-31 | Yes |
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2018-12-31 | Yes |
Opinion of an independent qualified public accountant for this plan | 2018-12-31 | Disclaimer |
Accountancy firm name | 2018-12-31 | MITCHELL & TITUS, LLP |
Accountancy firm EIN | 2018-12-31 | 132781641 |
2017 : GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2017 401k financial data |
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Total unrealized appreciation/depreciation of assets | 2017-12-31 | $0 |
Total transfer of assets to this plan | 2017-12-31 | $29,520 |
Total transfer of assets from this plan | 2017-12-31 | $1,686,528 |
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2017-12-31 | $0 |
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2017-12-31 | $25,935,768 |
Total income from all sources (including contributions) | 2017-12-31 | $25,521,856 |
Total loss/gain on sale of assets | 2017-12-31 | $0 |
Total of all expenses incurred | 2017-12-31 | $20,041,165 |
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2017-12-31 | $19,315,600 |
Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2017-12-31 | $0 |
Value of total assets at end of year | 2017-12-31 | $186,281,410 |
Value of total assets at beginning of year | 2017-12-31 | $208,393,495 |
Total of administrative expenses incurred including professional, contract, advisory and management fees | 2017-12-31 | $725,565 |
Total interest from all sources | 2017-12-31 | $0 |
Total dividends received (eg from common stock, registered investment company shares) | 2017-12-31 | $0 |
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2017-12-31 | No |
Administrative expenses professional fees incurred | 2017-12-31 | $468,555 |
Was this plan covered by a fidelity bond | 2017-12-31 | Yes |
Value of fidelity bond cover | 2017-12-31 | $100,000,000 |
If this is an individual account plan, was there a blackout period | 2017-12-31 | No |
Were there any nonexempt tranactions with any party-in-interest | 2017-12-31 | No |
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year | 2017-12-31 | $25,935,768 |
Administrative expenses (other) incurred | 2017-12-31 | $257,010 |
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2017-12-31 | No |
Value of net income/loss | 2017-12-31 | $5,480,691 |
Value of net assets at end of year (total assets less liabilities) | 2017-12-31 | $186,281,410 |
Value of net assets at beginning of year (total assets less liabilities) | 2017-12-31 | $182,457,727 |
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2017-12-31 | No |
Were any loans by the plan or fixed income obligations due to the plan in default | 2017-12-31 | No |
Were any leases to which the plan was party in default or uncollectible | 2017-12-31 | No |
Value of interest in master investment trust accounts at end of year | 2017-12-31 | $186,281,410 |
Value of interest in master investment trust accounts at beginning of year | 2017-12-31 | $188,153,495 |
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2017-12-31 | No |
Was there a failure to transmit to the plan any participant contributions | 2017-12-31 | No |
Has the plan failed to provide any benefit when due under the plan | 2017-12-31 | No |
Contributions received in cash from employer | 2017-12-31 | $0 |
Employer contributions (assets) at end of year | 2017-12-31 | $0 |
Employer contributions (assets) at beginning of year | 2017-12-31 | $20,240,000 |
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2017-12-31 | $19,315,600 |
Did the plan have assets held for investment | 2017-12-31 | Yes |
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2017-12-31 | No |
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2017-12-31 | No |
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2017-12-31 | Yes |
Opinion of an independent qualified public accountant for this plan | 2017-12-31 | Disclaimer |
Accountancy firm name | 2017-12-31 | MITCHELL & TITUS, LLP |
Accountancy firm EIN | 2017-12-31 | 132781641 |
2016 : GTE FLORIDA INCORPORATED PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 2016 401k financial data |
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Total unrealized appreciation/depreciation of assets | 2016-12-31 | $0 |
Total transfer of assets from this plan | 2016-12-31 | $228,368,747 |
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2016-12-31 | $25,935,768 |
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2016-12-31 | $0 |
Total income from all sources (including contributions) | 2016-12-31 | $39,206,343 |
Total loss/gain on sale of assets | 2016-12-31 | $0 |
Total of all expenses incurred | 2016-12-31 | $37,614,163 |
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2016-12-31 | $36,204,707 |
Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2016-12-31 | $20,240,000 |
Value of total assets at end of year | 2016-12-31 | $208,393,495 |
Value of total assets at beginning of year | 2016-12-31 | $409,234,294 |
Total of administrative expenses incurred including professional, contract, advisory and management fees | 2016-12-31 | $1,409,456 |
Total interest from all sources | 2016-12-31 | $0 |
Total dividends received (eg from common stock, registered investment company shares) | 2016-12-31 | $0 |
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2016-12-31 | No |
Administrative expenses professional fees incurred | 2016-12-31 | $256,624 |
Was this plan covered by a fidelity bond | 2016-12-31 | Yes |
Value of fidelity bond cover | 2016-12-31 | $100,000,000 |
If this is an individual account plan, was there a blackout period | 2016-12-31 | No |
Were there any nonexempt tranactions with any party-in-interest | 2016-12-31 | No |
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year | 2016-12-31 | $25,935,768 |
Administrative expenses (other) incurred | 2016-12-31 | $1,152,832 |
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2016-12-31 | No |
Value of net income/loss | 2016-12-31 | $1,592,180 |
Value of net assets at end of year (total assets less liabilities) | 2016-12-31 | $182,457,727 |
Value of net assets at beginning of year (total assets less liabilities) | 2016-12-31 | $409,234,294 |
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2016-12-31 | No |
Were any loans by the plan or fixed income obligations due to the plan in default | 2016-12-31 | No |
Were any leases to which the plan was party in default or uncollectible | 2016-12-31 | No |
Value of interest in master investment trust accounts at end of year | 2016-12-31 | $188,153,495 |
Value of interest in master investment trust accounts at beginning of year | 2016-12-31 | $409,234,294 |
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2016-12-31 | No |
Was there a failure to transmit to the plan any participant contributions | 2016-12-31 | No |
Has the plan failed to provide any benefit when due under the plan | 2016-12-31 | No |
Contributions received in cash from employer | 2016-12-31 | $20,240,000 |
Employer contributions (assets) at end of year | 2016-12-31 | $20,240,000 |
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2016-12-31 | $36,204,707 |
Did the plan have assets held for investment | 2016-12-31 | Yes |
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2016-12-31 | No |
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2016-12-31 | No |
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d) | 2016-12-31 | Yes |
Opinion of an independent qualified public accountant for this plan | 2016-12-31 | Disclaimer |
Accountancy firm name | 2016-12-31 | MITCHELL & TITUS, LLP |
Accountancy firm EIN | 2016-12-31 | 132781641 |