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Overview

Plan Information

  • Plan Year04/01/2007 — 03/31/2008
  • Date of Plan10/01/1997
  • Net Assets as of 03/31/2008 $3,142,429
  • 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 Arrangement Trust

Participant Information as of 03/31/2008

  • Active (Eligible) Participants233
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits6
  • Subtotal239
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total239
  • Total number of participants as of 04/01/2007238
  • Number of participants with account balances145
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0
  • Number of participants required to be reported on Schedule SSA0

Expenses

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

Sponsor Information

  • Address9731 Mount Gilead Rd
  • CityFredericktown
  • StateOH
  • Zip43019-9161
  • Telephone(740) 694-1500
  • EIN31-1420574
  • Industry Code336300
  • Named AdministratorZane Mathys
  • Named Plan SponsorZane Mathys

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Audit Information

  • Audit StatusAudited
  • AuditorMcgladrey & Pullen 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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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 $7,857
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 $265,000
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

Financials

Income and Expense Statement

Income $569,710
Contributions $480,715
Cash Contributions $480,715
Cash from Employers $119,466
Cash from Participants $351,542
Others (including rollovers) $9,707
Noncash Contributions $0
Total Earnings on Investments $88,995
Total Interest $88,995
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $13,964
Interest from Other Investments $75,031
Total Dividends $0
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 $0
Other Income $0
Expenses $22,081
Total Benefit Payments $21,162
Directly to participants or beneficiaries, including direct rollovers $21,162
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $919
Interest expense $0
Total Administrative Expenses $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $547,629
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

03/31/2008 03/31/2007 Change YOY
Total Assets $3,142,429 $2,595,805 21.06%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $11,416 $9,522 19.89%
Employer Contributions $2,870 $2,060 39.32%
Participant Contributions $6,950 $6,199 12.11%
Other Contributions $1,596 $1,263 26.37%
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 $210,045 $129,258 62.50%
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 $2,513,535 $2,156,765 16.54%
Value of funds held in insurance co. general account $145,415 $135,290 7.48%
Other Investments $262,018 $164,970 58.83%
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 $1,005 -100.00%
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 $1,005 -100.00%
Net Assets $3,142,429 $2,594,800 21.10%

Service Providers

Service Providers

There are no service providers listed for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Nationwide Qualified Plans Variable Nationwide Life Insurance Company DFE: Pooled Separate Account $2,513,535
Total $2,513,535

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Nationwide Life Insurance Company 145
EIN 31-4156830
Industry Code 66869
Contract Number GAP-B2-VA91
Contract Year 04/01/2007 — 03/31/2008
Value in General Account at Year End $145,415
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $284
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Investors Capital Corp. 230 Broadway Suite 201 Lynnfield, MA 01940 $284 $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 Guaranteed Investment
Balance at the end of the previous year $135,290
Additions $32,518
Contributions Deposited during the year $20,837
Dividends and credits $0
Interest credited during the year $5,497
Transferred from separate account $0
Other $6,184
Total of Balance and Additions $167,808
Deductions $22,393
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $610
Transferred to Separate Account $0
Other $21,783
Balance at the end of the current year $145,415