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FORM 5500 DATA

Badger Sheet Metal 401k Plan and Trust

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1958
  • Net Assets as of 12/31/2017 $2,572,339
  • 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 12/31/2017

  • Active (Eligible) Participants97
  • Retired or separated participants receiving benefits18
  • Other retired or separated participants entitled to future benefits0
  • Subtotal115
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total115
  • Total number of participants as of 01/01/2017104
  • Number of participants with account balances79
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested6

Expenses

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

Sponsor Information

  • AddressPo Box 5875
  • CityDe Pere
  • StateWI
  • Zip54115
  • Telephone(920) 435-8881
  • EIN39-0144150
  • Industry Code332900
  • Named AdministratorGregory Decaster

Plan Administrator Information

  • Administrator NameBadger Sheet Metal Works, Inc.
  • AddressPo Box 5875
  • CityDe Pere
  • StateWI
  • Zip54115
  • Telephone(920) 435-8881
  • Administrator EIN39-0144150

Audit Information

  • Audit StatusAudited
  • AuditorSchenck Sc
  • Auditor EIN39-1173131
  • 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.

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
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 $593,256
Contributions $284,354
Cash Contributions $284,354
Cash from Employers $63,520
Cash from Participants $191,778
Others (including rollovers) $29,056
Noncash Contributions $0
Total Earnings on Investments $307,907
Total Interest $2,435
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,435
Interest from Other Investments $0
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 $265,856
Net investment gain (loss) from pooled separate accounts $25,765
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 $13,851
Other Income $995
Expenses $88,349
Total Benefit Payments $87,005
Directly to participants or beneficiaries, including direct rollovers $87,005
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 $1,344
Professional Fees $0
Contract Administrator Fees $1,344
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $504,907
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 $2,572,339 $2,067,432 24.42%
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 $41,783 $44,501 -6.11%
Value of interest in common/collective trusts $2,227,837 $1,725,668 29.10%
Value of interest in pooled separate accounts $139,790 $141,206 -1.00%
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 $76,120 $62,439 21.91%
Value of funds held in insurance co. general account $86,809 $93,618 -7.27%
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 $2,572,339 $2,067,432 24.42%

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
Baird Insurance Services, Inc. Other services, Other commissions Other Services $0 $4,688 $4,688
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $1,344 $0 $1,344
Total $1,344 $4,688 $6,032

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
Prin Trust Tgt 2020 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $521,731
Prin Trust Tgt 2015 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $396,922
Prin Trust Tgt 2035 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $330,883
Prin Trust Tgt 2030 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $292,255
Prin Trust Tgt 2025 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $263,876
Prin Trust Tgt 2040 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $224,956
Prin Trust Tgt 2050 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $116,633
Prin Trust Tgt 2045 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $66,957
Prin Real Estate Secs Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $28,389
Prin Largecap Growth I Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $26,174
Prin Diversified Intl Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $21,889
Prin Midcap S&P 400 Idx Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $21,104
Prin Smcap S&P 600 Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $18,405
Prin Trust Tgt 2055 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $12,844
Prin Intl Equity Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $10,590
Prin Midcap Value III Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $3,524
Prin Lgcap S&P 500 Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $3,009
Principal Bond Mkt Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $2,996
Prin Smallcap Value II Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $2,428
Prin Midcap Growth Sep Acct-R3 Principal Life Insurance Company DFE: Pooled Separate Account $1,282
Prin Trust Tgt 2010 Fd R3 Principal Life Insurance Company DFE: Common/Collective Trust $780
Prin Trust Income Fund R3 Principal Life Insurance Company DFE: Common/Collective Trust $0
Total $2,367,627

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 117
EIN 42-0127290
Industry Code 61271
Contract Number 613953
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $139,790
Insurance Fees and Commissions $475
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Baird Insurance Services Inc 777 E Wisconsin Ave Milwaukee, WI 53202 -5300 Insurance Agent or Broker $396 $0 SALES AND BASE COMMISSIONS
The Retirement Advantage Inc 47 Park Pl Ste 850 Appleton, WI 54914 Third Party Administrator $0 $79 REFERRAL/SERVICE FEE
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 OTHER-GROUP VAR ANNUITY W/GUAR FUND
Balance at the end of the previous year $93,618
Additions $5,509
Contributions Deposited during the year $1,782
Dividends and credits $0
Interest credited during the year $994
Transferred from separate account $0
Other $2,733
Total of Balance and Additions $99,127
Deductions $12,318
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $6
Transferred to Separate Account $0
Other $12,312
Balance at the end of the current year $86,809