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FORM 5500 DATA

Kongsberg Automotive, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1997
  • Net Assets as of 12/31/2018 $32,076,873
  • 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
  • Report Description This is an amended report.
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants538
  • Retired or separated participants receiving benefits7
  • Other retired or separated participants entitled to future benefits169
  • Subtotal714
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total714
  • Total number of participants as of 01/01/2018719
  • Number of participants with account balances532
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested18

Expenses

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

Sponsor Information

  • Address27275 Haggerty Rd Suite 610
  • CityNOVI
  • StateMI
  • Zip48377
  • Telephone(248) 468-1309
  • EIN38-2913508
  • Industry Code336300
  • Named AdministratorRachel Baxter

Audit Information

  • Audit StatusAudited
  • AuditorPlante and Moran PLLC
  • Auditor EIN38-1357951
  • 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.
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? Yes $10,730
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
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 $2,237,718
Contributions $4,510,182
Cash Contributions $4,510,182
Cash from Employers $739,568
Cash from Participants $2,487,353
Others (including rollovers) $1,283,261
Noncash Contributions $0
Total Earnings on Investments $-2,272,464
Total Interest $40,368
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $31,103
Interest from Other Investments $9,265
Total Dividends $2,116,877
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 $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 $-4,429,709
Other Income $0
Expenses $3,932,826
Total Benefit Payments $3,829,361
Directly to participants or beneficiaries, including direct rollovers $3,829,361
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $34,516
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $68,949
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $5,132
Other Administrative Fees $63,817
Net Income $-1,695,108
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $32,076,873 $33,771,981 -5.02%
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 $614,358 $620,475 -0.99%
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 $30,657,956 $32,684,337 -6.20%
Value of funds held in insurance co. general account $804,559 $467,169 72.22%
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 $32,076,873 $33,771,981 -5.02%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Hantz Financial Services Inc Investment advisory (plan) Advisor $54,406 $0 $54,406
Plante & Moran, PLLC Accounting (including auditing) Accountant/Auditor $5,250 $0 $5,250
Strategic Advisors, Inc. Investment advisory (plan) Advisor $5,132 $0 $5,132
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees Recordkeeper $4,131 $0 $4,131
Total $68,919 $0 $68,919

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Ab Global Bond I - Alliancebernste Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Af Balanced R5 - American Funds SE Sub-transfer agency fees 0.05% $0
Fidelity Investments Institutional Af Fundamntl Invs R5 - American Fu Sub-transfer agency fees 0.05% $0
Fidelity Investments Institutional Af New Perspect R5 - American Fund Sub-transfer agency fees 0.05% $0
Fidelity Investments Institutional Am Cent Inc & Grth I - American Ce Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Dh Large Cap I - Diamond Hill Capi Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Fed Inst High Yld Is - State Stree Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Invs Divrs Divd R5 - Invesco Inves Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Invs Smcp Grth R5 - Invesco Invest Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional J H Growth & Inc I - Janus Service Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Lincoln Fixed Acct Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Loomis Bond Inst - Dst Asset Manag Sub-transfer agency fees 0.20% $0
Fidelity Investments Institutional Oppenheimer Global Y - Ofi Global Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Opphmr Disc Mdcpgr Y - Ofi Global Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Pgim Total Rtn Bd Z - Prudential M Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Templeton Foreign Ad - Franklin Te Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Trp Blue Chip Grth - T. Rowe Price Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Victory S Estb Val I - Fis Investo Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Wa Core Plus Bond I - Bny Mellon I Sub-transfer agency fees 0.11% $0
Fidelity Investments Institutional Wcm Fcsd Intl Gr Is - Umb Fund Ser Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Wf Intl Value I - Dst Asset Manage Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Wf Spl Sm Cap Val Is - Dst Asset M Sub-transfer agency fees 0.15% $0
*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.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Lincoln Life & Annuity Company of New York 27
EIN 16-1505436
Industry Code 60139
Contract Number 894972
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
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
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 ANNUITY
Balance at the end of the previous year $467,169
Additions $606,675
Contributions Deposited during the year $595,159
Dividends and credits $0
Interest credited during the year $9,853
Transferred from separate account $0
Other $1,663
Total of Balance and Additions $1,073,844
Deductions $269,285
Disbursed from fund to pay benefits or purchase annuities during the year $269,285
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $804,559