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Walt's Food Center 401k Profit Sharing Plan Trust


Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan03/18/1969
  • Net Assets as of 12/31/2007 $5,540,271
  • 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 12/31/2007

  • Active (Eligible) Participants392
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits21
  • Subtotal413
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total413
  • Total number of participants as of 01/01/2007406
  • Number of participants with account balances392
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested19
  • Number of participants required to be reported on Schedule SSA11


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

Sponsor Information

  • Address330 W Taft Dr
  • CitySouth Holland
  • StateIL
  • Zip60473-2026
  • Telephone(708) 596-3166
  • EIN36-2528955
  • Industry Code445110
  • Named AdministratorRobert G. Lagestee, Sr
  • Named Plan SponsorRobert G. Lagestee, Sr

Plan Administrator Information

  • Administrator NameTrustees of Walts Food Center Employee Benefit Plan
  • Address330 W Taft Dr
  • CitySouth Holland
  • StateIL
  • Zip60473-2026
  • Telephone(708) 596-3166
  • Administrator EIN36-6224617

Plan Preparer Information

  • Preparer NameElaine Moeller Klesman & Company, P.C.
  • Address7110 W. 127th Street, Suite 230
  • City Palos Heights
  • StateIL
  • Zip60463
  • Telephone(708) 923-0200
  • Preparer EIN36-3606968

Audit Information

  • Audit StatusAudited
  • AuditorKlesman & Company, P.C.
  • Auditor EIN36-3606968
  • 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.
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.

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 $500,000
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


Income and Expense Statement

Income $582,653
Contributions $443,311
Cash Contributions $443,311
Cash from Employers $275,000
Cash from Participants $168,311
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $129,424
Total Interest $6,769
Interest-Bearing Cash $4,390
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,379
Interest from Other Investments $0
Total Dividends $290,832
Preferred Stock $0
Common Stock $290,832
Rents $0
Net gain (loss) on sale of assets $-8,159
Aggregate Proceeds $146,377
Aggregate Carrying Amount $154,536
Total Unrealized Appreciation (depreciation) of assets $-27,316
Real Estate $0
Other $-27,316
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 $-132,702
Other Income $9,918
Expenses $231,828
Total Benefit Payments $199,766
Directly to participants or beneficiaries, including direct rollovers $199,766
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 $32,062
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $32,062
Net Income $350,825
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $5,601,949 $5,273,796 6.22%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $275,000 $269,737 1.95%
Employer Contributions $275,000 $250,000 10.00%
Participant Contributions $0 $6,748 -100.00%
Other Contributions $0 $12,989 -100.00%
General Investments $436,051 $488,007 -10.65%
Interest-bearing cash $436,051 $488,007 -10.65%
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 $376,264 $401,228 -6.22%
Preferred $0 $0 0.0%
Common $376,264 $401,228 -6.22%
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 $56,459 $32,731 72.49%
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 $4,067,278 $3,709,204 9.65%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $390,897 $372,889 4.83%
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 $61,678 $84,350 -26.88%
Benefit Claims Payable (1) $48,228 $70,900 -31.98%
Operating Payables (1) $13,450 $13,450 0.00%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $5,540,271 $5,189,446 6.76%

Service Providers

Service Providers

There are no service providers listed for this plan.



No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Insurance Company of America 5
EIN 22-1211670
Industry Code 68241
Contract Number PFS2706
Contract Year 03/18/2006 — 03/17/2007
Value in General Account at Year End $0
Value in Separate Accounts at Year End $386,485
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