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L. Knife & Son, Inc. Profit Sharing and Savings Trust


Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1989
  • Net Assets as of 12/31/2017 $106,996,086
  • Plan Number7
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants1,123
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits313
  • Subtotal1,436
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,436
  • Total number of participants as of 01/01/20171,373
  • Number of participants with account balances1,397
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested109


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

Sponsor Information

  • AddressElder Avenue Extension P.O. Box K
  • CityKingston
  • StateMA
  • Zip02364-0510
  • Telephone(781) 585-5165
  • EIN04-2902690
  • Industry Code424800
  • Named AdministratorJeffrey Annis, VP

Audit Information

  • Audit StatusAudited
  • AuditorTonneson & Company, Pc
  • Auditor EIN04-2943536
  • Audit OpinionUnqualified
  • Audit Type Full 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.
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.
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 $9,372
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 $1,000,000
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


Income and Expense Statement

Income $19,062,731
Contributions $7,993,720
Cash Contributions $7,993,720
Cash from Employers $5,406,126
Cash from Participants $2,587,594
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $11,068,543
Total Interest $894,763
Interest-Bearing Cash $8,669
U.S. Government Securities $5,723
Corporate Debt Instruments $804,737
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $75,634
Total Dividends $751,327
Preferred Stock $10,715
Common Stock $475,176
Rents $0
Net gain (loss) on sale of assets $218,842
Aggregate Proceeds $9,829,565
Aggregate Carrying Amount $9,610,723
Total Unrealized Appreciation (depreciation) of assets $6,617,870
Real Estate $0
Other $6,617,870
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 $2,585,741
Other Income $468
Expenses $4,679,762
Total Benefit Payments $4,362,188
Directly to participants or beneficiaries, including direct rollovers $4,349,276
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $12,912
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $317,574
Professional Fees $63,015
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $254,559
Net Income $14,382,969
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 $106,996,086 $92,613,117 15.53%
Total noninterest-bearing cash $6,913,359 $49,286 13927.02%
Receivables $5,425,488 $5,911,767 -8.23%
Employer Contributions $5,406,126 $4,983,082 8.49%
Participant Contributions $19,294 $924,270 -97.91%
Other Contributions $68 $4,415 -98.46%
General Investments $1,151,244 $3,629,805 -68.28%
Interest-bearing cash $1,151,244 $3,400,786 -66.15%
U.S. Government Securities $0 $229,019 0.0%
Corporate Debt Instruments $27,141,204 $27,227,786 -0.32%
Preferred $0 $0 0.0%
All Other $27,141,204 $27,227,786 -0.32%
Corporate Stocks $38,743,403 $35,404,141 9.43%
Preferred $207,325 $192,670 7.61%
Common $38,536,078 $35,211,471 9.44%
Partnership/joint venture interests $9,300,526 $7,804,088 19.18%
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 $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 $18,041,014 $12,304,393 46.62%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $279,848 $281,851 -0.71%
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 $106,996,086 $92,613,117 15.53%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Morgan Stanley Smith Barney LLC

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
Goldman Sachs Other services, Direct payment from the plan NONE $192,479 $0 $192,479
Howland Capital Management Other services, Direct payment from the plan NONE $61,605 $0 $61,605
Tonneson & Company, Pc Accounting (including auditing), Direct payment from the plan NONE $46,592 $0 $46,592
Sentinel Benefits Recordkeeping and information management (computing, tabulating, data processing, etc.), Direct payment from the plan NONE $12,146 $0 $12,146
Total $312,822 $0 $312,822

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.



No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.