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FORM 5500 DATA

IGD Industries, Inc. 401k Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan12/17/1959
  • Net Assets as of 12/31/2017 $13,277,001
  • 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 12/31/2017

  • Active (Eligible) Participants199
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits67
  • Subtotal266
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total266
  • Total number of participants as of 01/01/2017240
  • Number of participants with account balances255
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested19

Expenses

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

Sponsor Information

  • Address4150 C Street SW
  • CityCedar Rapids
  • StateIA
  • Zip52404-7451
  • Telephone(319) 396-2222
  • EIN20-3947215
  • Industry Code423100
  • Named AdministratorGlennn Wiltgen
  • Named Plan SponsorGlennn Wiltgen

Audit Information

  • Audit StatusAudited
  • AuditorRsm Us LLP
  • Auditor EIN42-0714325
  • 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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $600,000
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 $2,912,056
Contributions $946,222
Cash Contributions $946,222
Cash from Employers $166,847
Cash from Participants $769,583
Others (including rollovers) $9,792
Noncash Contributions $0
Total Earnings on Investments $1,965,834
Total Interest $8,453
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $8,453
Total Dividends $24,593
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 $653,665
Net investment gain (loss) from pooled separate accounts $694,039
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 $585,084
Other Income $0
Expenses $412,237
Total Benefit Payments $407,652
Directly to participants or beneficiaries, including direct rollovers $407,652
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 $4,585
Professional Fees $3,000
Contract Administrator Fees $1,585
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $2,499,819
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 $13,277,001 $10,777,182 23.20%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $31,613 $26,068 21.27%
Employer Contributions $5,811 $4,321 34.48%
Participant Contributions $25,802 $21,747 18.65%
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 $0 $0 0.0%
Value of interest in common/collective trusts $4,645,341 $3,912,893 18.72%
Value of interest in pooled separate accounts $4,432,082 $3,586,075 23.59%
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 $3,391,436 $2,501,426 35.58%
Value of funds held in insurance co. general account $776,529 $750,720 3.44%
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 $13,277,001 $10,777,182 23.20%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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
Principal Securities Inc Other services, Other commissions, Other fees Other Services $0 $10,698 $10,698
Witzel, Lawrence W. Other services, Other commissions, Other fees Other Services $0 $9,656 $9,656
Principal Life Insurance Company Contract Administrator, Direct payment from the plan, Recordkeeping fees Contract Administrator $1,585 $0 $1,585
Wilshire Associates Incorporated Investment advisory (plan), Other investment fees and expenses Investment Advisory $0 $0 $0
Total $1,585 $20,354 $21,939

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Witzel, Lawrence W. Principal Life Insurance Company Other services, Other commissions, Other fees Commissions, Referral/Service Fee and Prorated Incentive, Not Deducted From Plan $9,656
Principal Securities Inc Principal Life Insurance Company Other services, Other commissions, Other fees Commissions and Referral/Service Fee $10,698
Wilshire Associates Incorporated Igd Industries, Inc. Investment advisory (plan), Other investment fees and expenses 1 Basis Point Annually On Total Plan Assets In Wilshire's 3(21) Investment Fiduciary Service Per Client's Signed Agreement With Wilshire. $0
*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

Name of Investment Investment Manager Type of Investment Dollar Value
Prin Lifetime Hybr 2030 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $1,466,513
Prin Lgcap S&P 500 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $916,604
Prin Largecap Growth I Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $902,207
Prin Lifetime Hybr 2020 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $893,160
Prin Midcap Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $884,438
Prin Lifetime Hybr 2025 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $629,449
Prin Capital Appr Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $512,998
Prin Lifetime Hybr 2040 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $498,093
Prin Bond Market Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $461,605
Prin Lifetime Hybr 2035 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $400,878
Prin Smcap S&P 600 Index Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $299,987
Prin Lifetime Hybr 2050 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $275,482
Prin Lifetime Hybr 2045 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $174,243
Prin Income Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $154,184
Prin High Yield I Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $135,280
Prin Lifetime Hybr 2010 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $102,360
Prin Midcap S&P 400 Idx Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $95,277
Prin Lifetime Hybr 2055 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $89,637
Prin Lifetime Hybr 2015 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $53,328
Prin Global Div Inc Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $41,969
Prin Lifetime Hybr Inc Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $31,627
Prin Lifetime Hybr 2060 Cit R6 Principal Global Investors Trust Co DFE: Common/Collective Trust $30,570
Prin Smallcap Value II Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $27,534
Total $9,077,423

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 266
EIN 42-0127290
Industry Code 61271
Contract Number 613953
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $1,517
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Principal Securities Inc 711 High St Des Moines, IA 50392 -0001 Insurance Agent or Broker $1,142 $0
Witzel, Lawrence W. 200 2nd Ave SE Cedar Rapids, IA 52401 -1241 Insurance Agent or Broker $375 $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 CUSTODIAL GUARANTEED INTEREST CONTRACT
Balance at the end of the previous year $750,720
Additions $64,357
Contributions Deposited during the year $32,320
Dividends and credits $0
Interest credited during the year $8,453
Transferred from separate account $0
Other $23,584
Total of Balance and Additions $815,077
Deductions $38,548
Disbursed from fund to pay benefits or purchase annuities during the year $38,473
Administration charge made by carrier $75
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $776,529
Principal Life Insurance Company 266
EIN 42-0127290
Industry Code 61271
Contract Number 617837
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $4,432,082
Insurance Fees and Commissions $7,582
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Principal Securities Inc 711 High St Des Moines, IA 50392 -0001 Insurance Agent or Broker $5,789 $0
Witzel, Lawrence W. 200 2nd Ave SE Cedar Rapids, IA 52401 -1241 Insurance Agent or Broker $1,793 $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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
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 $0
Balance at the end of the current year $0