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FORM 5500 DATA

Badger Sheet Metal 401k Plan and Trust

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1958
  • Net Assets as of 12/31/2018 $2,605,282
  • 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 12/31/2018

  • Active (Eligible) Participants96
  • Retired or separated participants receiving benefits15
  • Other retired or separated participants entitled to future benefits0
  • Subtotal111
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total111
  • Total number of participants as of 01/01/2018120
  • Number of participants with account balances77
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested4

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 AdministratorDave Conard

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
  • 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.
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 $137,026
Contributions $348,112
Cash Contributions $348,112
Cash from Employers $87,277
Cash from Participants $237,435
Others (including rollovers) $23,400
Noncash Contributions $0
Total Earnings on Investments $-212,032
Total Interest $2,296
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,296
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 $-172,239
Net investment gain (loss) from pooled separate accounts $-26,199
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 $-15,890
Other Income $946
Expenses $104,083
Total Benefit Payments $102,169
Directly to participants or beneficiaries, including direct rollovers $102,169
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 $1,914
Professional Fees $0
Contract Administrator Fees $1,914
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $32,943
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 $2,605,282 $2,572,339 1.28%
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 $48,832 $41,783 16.87%
Value of interest in common/collective trusts $2,041,087 $2,227,837 -8.38%
Value of interest in pooled separate accounts $213,601 $139,790 52.80%
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 $213,439 $76,120 180.40%
Value of funds held in insurance co. general account $88,323 $86,809 1.74%
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 $2,605,282 $2,572,339 1.28%

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 $5,482 $5,482
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $1,913 $0 $1,913
Total $1,913 $5,482 $7,395

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Baird Insurance Services Inc Principal Life Insurance Company Other services, Other commissions Commissions $5,482
*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

Name Position Explanation
Schenck Sc Plan Auditor Schenck Sc Merged With Cliftonlasronallen LLP On 1/1/2019

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Prin Life Time Hybr 2015 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $395,662
Prin Life Time Hybr 2030 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $392,262
Prin Life Time Hybr 2040 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $256,682
Prin Life Time Hybr 2020 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $253,691
Prin Life Time Hybr 2025 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $219,422
Prin Life Time Hybr 2035 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $219,257
Prin Life Time Hybr 2055 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $113,925
Prin Life Time Hybr 2050 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $103,756
Prin Real Estate Secs Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $77,591
Prin Life Time Hybr 2045 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $69,688
Prin Midcap S&P 400 Idx Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $63,076
Prin Largecap Growth I Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $26,407
Prin Diversified Intl Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $19,129
Prin Smcap S&P 600 Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $16,533
Prin Life Time Hybr 2060 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $14,925
Prin Intl Equity Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $5,158
Prin Midcap Value III Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $2,943
Prin Life Time Hybr 2065 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $1,817
Prin Lgcap S&P 500 Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $1,194
Prin Smallcap Value II Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $864
Prin Midcap Growth Sep Acct-R3 Principal Life Insurance Company DFE: Pooled Separate Account $705
Prin Life Time Hybr 2010 Cit R3 Principal Global Investors Trust Co DFE: Common/Collective Trust $0
Principal Bond Mkt Index Sa-R3 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $2,254,687

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 109
EIN 42-0127290
Industry Code 61271
Contract Number 613953
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 $263
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 $219 $0 SALES AND BASE COMMISSIONS
The Retirement Advantage Inc 47 Park Pl Ste 850 Appleton, WI 54914 Insurance Agent or Broker $0 $44 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 CUSTODIAL GUARANTEED INTEREST CONTRACT
Balance at the end of the previous year $86,809
Additions $3,872
Contributions Deposited during the year $2,165
Dividends and credits $0
Interest credited during the year $946
Transferred from separate account $0
Other $761
Total of Balance and Additions $90,681
Deductions $2,358
Disbursed from fund to pay benefits or purchase annuities during the year $653
Administration charge made by carrier $12
Transferred to Separate Account $0
Other $1,693
Balance at the end of the current year $88,323
Principal Life Insurance Company 109
EIN 42-0127290
Industry Code 61271
Contract Number 811842
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $213,601
Insurance Fees and Commissions $584
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 $487 $0 COMMISSIONS
The Retirement Advantage 47 Park Place Ste 850 Appleton, WI 54914 Insurance Agent or Broker $0 $97 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 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