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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan10/01/2002
  • Net Assets as of 12/31/2017 $53,999,897
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants1,113
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits228
  • Subtotal1,344
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,344
  • Total number of participants as of 01/01/20171,282
  • Number of participants with account balances1,183
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested144

Expenses

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

Sponsor Information

  • Address350 Veterans Way Suite 200
  • CityCarmel
  • StateIN
  • Zip46032
  • Telephone(317) 706-7600
  • EIN35-2125376
  • Industry Code524210
  • Named AdministratorBrian Urbanski
  • Named Plan SponsorBrian Urbanski

Audit Information

  • Audit StatusAudited
  • AuditorCliftonlarsonallen LLP
  • Auditor EIN41-0746749
  • 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 $20,000,000
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 $12,414,593
Contributions $5,381,200
Cash Contributions $5,381,200
Cash from Employers $1,209,190
Cash from Participants $3,612,972
Others (including rollovers) $559,038
Noncash Contributions $0
Total Earnings on Investments $7,033,393
Total Interest $187,630
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $45,822
Interest from Other Investments $141,808
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 $6,845,763
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 $1,487,076
Total Benefit Payments $1,333,520
Directly to participants or beneficiaries, including direct rollovers $1,333,520
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $106,525
Certain deemed distributions of participant loans $32,588
Interest expense $0
Total Administrative Expenses $14,443
Professional Fees $0
Contract Administrator Fees $14,443
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $10,927,517
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 $53,999,897 $43,072,380 25.37%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
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 $928,076 $902,081 2.88%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $45,058,665 $31,058,548 45.08%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $8,013,156 $11,111,751 -27.89%
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 $53,999,897 $43,072,380 25.37%

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
Minnesota Life Insurance Company Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Valuation (appraisals, etc.), Participant loan processing, Participant communication, Direct payment from the plan, Investment management fees paid indirectly by plan, Recordkeeping fees, Account maintenance fees NONE $14,443 $0 $14,443
Total $14,443 $0 $14,443

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
Janus Opportunistic Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $8,431,340
Dfa Us Large Cap Value Port Minnesota Life Insurance Company DFE: Pooled Separate Account $8,310,986
Lazard Intl Strategic Eq Open Minnesota Life Insurance Company DFE: Pooled Separate Account $6,350,087
Vanguard Sm-Cap Gro Ind Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $3,490,342
Amg River Rd Sm Cap Val I Minnesota Life Insurance Company DFE: Pooled Separate Account $2,679,939
Advantus S&P 500 Index Minnesota Life Insurance Company DFE: Pooled Separate Account $2,285,215
Vanguard Lifestrategy Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $2,018,700
Vanguard Interm Bond Idx Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $1,995,877
T. Rowe Price Mid Cap Val Fund Minnesota Life Insurance Company DFE: Pooled Separate Account $1,433,070
Ab Glbl Bond Adv Minnesota Life Insurance Company DFE: Pooled Separate Account $1,195,999
Vanguard Lifestrategy Mod Gro Minnesota Life Insurance Company DFE: Pooled Separate Account $1,164,307
Vgd Extended Mkt Idx Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $990,648
Schwb Fndmntl Us Lg Co Idx Minnesota Life Insurance Company DFE: Pooled Separate Account $911,841
Amg Mngr Fairpointe Mid Cap I Minnesota Life Insurance Company DFE: Pooled Separate Account $783,538
Dfa U.S. Small Cap Portfolio Minnesota Life Insurance Company DFE: Pooled Separate Account $774,175
Master Separate Account Minnesota Life Insurance Company DFE: Pooled Separate Account $693,944
Ivy Advantus Real Estate Sec Y Minnesota Life Insurance Company DFE: Pooled Separate Account $540,774
Loomis Sayles Inv Gr Bond Cl A Minnesota Life Insurance Company DFE: Pooled Separate Account $525,405
Vanguard Lifestrategy Cons Gro Minnesota Life Insurance Company DFE: Pooled Separate Account $432,941
Pimco Long Duration Tot Ret I Minnesota Life Insurance Company DFE: Pooled Separate Account $49,537
Pyramis Large Cap Core Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $45,058,665

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 1,344
EIN 41-0417830
Industry Code 66168
Contract Number 066792
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $8,013,156
Value in Separate Accounts at Year End $45,058,665
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $11,111,751
Additions $1,806,038
Contributions Deposited during the year $683,765
Dividends and credits $0
Interest credited during the year $141,808
Transferred from separate account $890,554
Other $89,911
Total of Balance and Additions $12,917,789
Deductions $4,904,633
Disbursed from fund to pay benefits or purchase annuities during the year $271,673
Administration charge made by carrier $2,354
Transferred to Separate Account $4,542,553
Other $88,053
Balance at the end of the current year $8,013,156