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Titan International, Inc. Employees' Retirement Savings Plan


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1989
  • Net Assets as of 12/31/2019 $85,993,741
  • Plan Number2
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants1,261
  • Retired or separated participants receiving benefits16
  • Other retired or separated participants entitled to future benefits249
  • Subtotal1,526
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits7
  • Total1,533
  • Total number of participants as of 01/01/20191,646
  • Number of participants with account balances1,286
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested48


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

Sponsor Information

  • Address2701 Spruce Street
  • CityQuincy
  • StateIL
  • Zip62301-3473
  • Telephone(217) 228-6011
  • EIN36-3228472
  • Industry Code326200
  • Named AdministratorCarolyn Agee

Audit Information

  • Audit StatusAudited
  • AuditorSikich LLP
  • Auditor EIN36-3168081
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of 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.
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 $10,000,000
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? Yes
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? Yes


Income and Expense Statement

Income $20,211,930
Contributions $4,696,606
Cash Contributions $4,696,606
Cash from Employers $1,216,513
Cash from Participants $3,274,263
Others (including rollovers) $205,830
Noncash Contributions $0
Total Earnings on Investments $15,515,324
Total Interest $68,927
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $68,927
Interest from Other Investments $0
Total Dividends $4,224,338
Preferred Stock $0
Common Stock $9,633
Rents $0
Net gain (loss) on sale of assets $-21,381
Aggregate Proceeds $389,220
Aggregate Carrying Amount $410,601
Total Unrealized Appreciation (depreciation) of assets $-501,985
Real Estate $0
Other $-501,985
Net investment gain (loss) from common/collective trusts $134,456
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 $11,610,969
Other Income $0
Expenses $11,743,337
Total Benefit Payments $11,544,157
Directly to participants or beneficiaries, including direct rollovers $11,544,157
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $40,511
Interest expense $0
Total Administrative Expenses $158,669
Professional Fees $0
Contract Administrator Fees $158,669
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $8,468,593
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 $85,993,741 $77,566,609 10.86%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $282,233 $141,479 99.49%
Employer Contributions $282,233 $141,479 99.49%
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 $1,845,573 $1,339,689 37.76%
Value of interest in common/collective trusts $4,325,393 $4,413,859 -2.00%
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 $77,279,875 $69,604,302 11.03%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $2,260,667 $2,067,280 9.35%
Employer Securities $2,260,667 $2,067,280 9.35%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $41,461 -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 $41,461 -100.00%
Net Assets $85,993,741 $77,525,148 10.92%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Great-West Life & Annuity Ins Co

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
Advised Assets Group, LLC Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management NONE $145,669 $0 $145,669
Lockton Investment Advisors LLC Investment advisory (plan), Investment management, Other services, Investment management fees paid directly by plan NONE $13,000 $0 $13,000
Total $158,669 $0 $158,669

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

Name Position Explanation
Brown Smith Wallace LLP Auditor Plan Sponsor Changed Auditors To A Firm That Better Aligns With The Needs of The Plan



Name of Investment Investment Manager Type of Investment Dollar Value
Cmgld Ptf Stable Asset Inc Jpmcbna Jpmorgan Chase Bank, N.A. DFE: Common/Collective Trust $4,325,393
Total $4,325,393

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.