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M.P. Environmental Services, Inc. 401k Profit Sharing Plan


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan10/01/1990
  • Net Assets as of 12/31/2019 $8,306,193
  • 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 12/31/2019

  • Active (Eligible) Participants225
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits37
  • Subtotal262
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total262
  • Total number of participants as of 01/01/2019245
  • Number of participants with account balances230
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested20


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

Sponsor Information

  • Address3400 Manor St
  • CityBakersfield
  • StateCA
  • Zip93308
  • Telephone(661) 393-1151
  • EIN77-0262888
  • Industry Code484200

Audit Information

  • Audit StatusAudited
  • AuditorBarbich Hooper King Dill Hoffman
  • Auditor EIN95-3705481
  • 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.

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 $750,000
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


Income and Expense Statement

Income $2,575,418
Contributions $1,221,098
Cash Contributions $1,221,098
Cash from Employers $240,800
Cash from Participants $963,122
Others (including rollovers) $17,176
Noncash Contributions $0
Total Earnings on Investments $1,354,320
Total Interest $15,734
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 $15,734
Total Dividends $232,959
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 $372,331
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 $733,296
Other Income $0
Expenses $715,839
Total Benefit Payments $653,113
Directly to participants or beneficiaries, including direct rollovers $653,113
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 $62,726
Professional Fees $0
Contract Administrator Fees $62,726
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $1,859,579
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $8,306,193 $6,446,614 28.85%
Total noninterest-bearing cash $2 $2 0.00%
Receivables $280,846 $226,750 23.86%
Employer Contributions $240,781 $194,471 23.81%
Participant Contributions $40,065 $32,279 24.12%
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 $2,330,935 $1,582,019 47.34%
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 $4,972,097 $4,203,777 18.28%
Value of funds held in insurance co. general account $722,313 $434,066 66.41%
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 $8,306,193 $6,446,614 28.85%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Stancorp Financial Group

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
Stancorp Financial Group Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Custodial (other than securities), Custodial (securities), Direct payment from the plan, Sub-transfer agency fees NONE $37,326 $3,497 $40,823
Barnes Wealth Management Group Investment advisory (plan), Consulting fees NONE $25,000 $0 $25,000
Total $62,326 $3,497 $65,823

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Stancorp Financial Group Charles Schwab Custodial (securities), Sub-transfer agency fees Subta Fees $3,497
*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.



Name of Investment Investment Manager Type of Investment Dollar Value
Flexpath Index Moderate 2025 Fund Wilmington Trust DFE: Common/Collective Trust $1,024,820
Flexpath Index Moderate 2035 Fund Wilmington Trust DFE: Common/Collective Trust $577,780
Flexpath Index Moderate 2045 Fund Wilmington Trust DFE: Common/Collective Trust $409,776
Flexpath Index Moderate 2055 Fund Wilmington Trust DFE: Common/Collective Trust $280,111
Flexpath Index Aggresive 2035 Fund Wilmington Trust DFE: Common/Collective Trust $30,429
Flexpath Index Aggresive 2045 Fund Wilmington Trust DFE: Common/Collective Trust $8,019
Flexpath Index Conserva 2035 Fund Wilmington Trust DFE: Common/Collective Trust $0
Flexpath Index Aggr 2055 Fund Wilmington Trust DFE: Common/Collective Trust $0
Total $2,330,935

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Standard Insurance Company 262
EIN 93-0242990
Industry Code 69019
Contract Number 810133
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $722,313
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 N/A
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 Deposit Administration
Balance at the end of the previous year $434,066
Additions $372,151
Contributions Deposited during the year $79,171
Dividends and credits $0
Interest credited during the year $15,734
Transferred from separate account $0
Other $277,246
Total of Balance and Additions $806,217
Deductions $83,904
Disbursed from fund to pay benefits or purchase annuities during the year $54,290
Administration charge made by carrier $5,055
Transferred to Separate Account $0
Other $24,559
Balance at the end of the current year $722,313