Back to top
FORM 5500 DATA

Penn Line Service, Inc. Employee Stock Ownership and Savings Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan04/01/1979
  • Net Assets as of 12/31/2017 $100,433,692
  • 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) Participants1,185
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits766
  • Subtotal1,951
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,951
  • Total number of participants as of 01/01/20172,020
  • Number of participants with account balances1,427
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested157

Expenses

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

Sponsor Information

  • Address300 Scottdale Avenue, P.O. Box 462
  • CityScottdale
  • StatePA
  • Zip15683-1240
  • Telephone(724) 887-9110
  • EIN25-1000923
  • Industry Code238900
  • Named AdministratorPaul Mongell

Audit Information

  • Audit StatusAudited
  • AuditorDelisi, Keenan & Associates, P.C.
  • Auditor EIN25-1818418
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I Stock bonus A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
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.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.
2Q S Corporation ESOP The employer maintaining this Employee Stock Ownership Plan (ESOP) is an S Corporation.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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? Yes $44,380
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 $2,000,000
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 $37,195,328
Contributions $3,746,626
Cash Contributions $3,746,626
Cash from Employers $3,300,000
Cash from Participants $382,567
Others (including rollovers) $64,059
Noncash Contributions $0
Total Earnings on Investments $33,448,662
Total Interest $0
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 $0
Total Dividends $191,740
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $480,869
Aggregate Proceeds $6,845,070
Aggregate Carrying Amount $6,364,201
Total Unrealized Appreciation (depreciation) of assets $31,154,548
Real Estate $0
Other $31,154,548
Net investment gain (loss) from common/collective trusts $1,556
Net investment gain (loss) from pooled separate accounts $1,200,796
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 $419,153
Other Income $40
Expenses $3,824,023
Total Benefit Payments $3,785,410
Directly to participants or beneficiaries, including direct rollovers $3,785,410
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $36,163
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $2,450
Professional Fees $2,450
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $33,371,305
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 $100,433,692 $67,062,387 49.76%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $3,316,179 $3,314,429 0.05%
Employer Contributions $3,300,000 $3,300,000 0.00%
Participant Contributions $16,179 $14,429 12.13%
Other Contributions $0 $0 0.0%
General Investments $7,424,196 $5,628,356 31.91%
Interest-bearing cash $7,424,196 $5,628,356 31.91%
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 $103,853 $288,931 -64.06%
Value of interest in pooled separate accounts $0 $9,312,336 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 $6,352,815 $5,546,918 14.53%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $9,742,659 $0 0.0%
Employer-related Investments $73,493,990 $42,971,417 71.03%
Employer Securities $73,493,990 $42,971,417 71.03%
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 $100,433,692 $67,062,387 49.76%

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
Pnc Bank, N.A. Trustee (directed) Trustee $2,450 $0 $2,450
Total $2,450 $0 $2,450

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

Name of Investment Investment Manager Type of Investment Dollar Value
Pnc Stable Value Fund Pnc Bank, N.A. DFE: Common/Collective Trust $103,853
Total $103,853

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Lincoln National Life Insurance Co. 0
EIN 35-0472300
Industry Code 65676
Contract Number GP33739
Contract Year
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 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