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Overview

Plan Information

  • Plan Year07/01/2018 — 06/30/2019
  • Date of Plan01/01/2002
  • Net Assets as of 06/30/2019 $2,943,713
  • 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 06/30/2019

  • Active (Eligible) Participants224
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits10
  • Subtotal235
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total235
  • Total number of participants as of 07/01/2018225
  • Number of participants with account balances155
  • 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

  • Address1541 Alta Dr. Suite 202
  • CityWhitehall
  • StatePA
  • Zip18052
  • Telephone(610) 841-4401
  • EIN23-3039587
  • Industry Code624100
  • Named AdministratorPhil Tisue

Plan Administrator Information

  • Administrator NameTag Resources, LLC
  • Address6501 Deane Hill Drive
  • CityKnoxville
  • StateTN
  • Zip37919
  • Telephone(856) 670-1844
  • Administrator EIN62-1874769

Audit Information

  • Audit StatusAudited
  • AuditorCoulter & Justus
  • Auditor EIN62-1532536
  • 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.
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.
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.

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? Yes
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? Yes

Financials

Income and Expense Statement

Income $941,127
Contributions $934,432
Cash Contributions $934,432
Cash from Employers $414,612
Cash from Participants $519,820
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $6,695
Total Interest $10,286
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $10,205
Interest from Other Investments $81
Total Dividends $733
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 $-4,324
Other Income $0
Expenses $317,291
Total Benefit Payments $280,412
Directly to participants or beneficiaries, including direct rollovers $280,412
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 $36,879
Professional Fees $0
Contract Administrator Fees $36,879
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $623,836
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2019 06/30/2018 Change YOY
Total Assets $2,943,713 $2,319,877 26.89%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $38,508 $27,345 40.82%
Employer Contributions $17,003 $10,728 58.49%
Participant Contributions $21,505 $16,617 29.42%
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 $251,286 $77,983 222.23%
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 $2,631,452 $2,214,549 18.83%
Value of funds held in insurance co. general account $22,467 $0 0.0%
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 $2,943,713 $2,319,877 26.89%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions

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
Nationwide Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management Record Keeper $13,559 $131 $13,690
Tag Resources, LLC Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees Record Keeper $7,960 $0 $7,960
Centera Investment Services Insurance agents and brokers, Investment advisory (plan) Advisor $0 $7,228 $7,228
Smith Elliot Kearns & Co LLC Contract Administrator, Direct payment from the plan Record Keeper $5,946 $0 $5,946
Penn Investment Advisors Investment advisory (plan) Investment Advisory-Plan $5,069 $0 $5,069
Transamerica Retirement Solutions Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees Record Keeper $4,353 $0 $4,353
Total $36,887 $7,359 $44,246

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Transamerica Life Insurance Company 155
EIN 39-0989781
Industry Code 86231
Contract Number 513266-000
Contract Year 09/21/2018 — 06/30/2019
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 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 STABLE VALUE OPTION
Balance at the end of the previous year $0
Additions $25,341
Contributions Deposited during the year $6,275
Dividends and credits $0
Interest credited during the year $81
Transferred from separate account $513
Other $18,472
Total of Balance and Additions $25,341
Deductions $2,874
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 $2,874
Balance at the end of the current year $22,467