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Home>401K Directory>Weimer Bearing Transmission Inc 401k Savings Plan>Form 5500

Weimer Bearing & Transmission, Inc.

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information
FORM 5500 DATA

Weimer Bearing & Transmission, Inc. 401k Savings Plan

Form 5500 Year:

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1981
  • Net Assets as of 12/31/2019 $30,220,885
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants238
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits17
  • Subtotal256
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total256
  • Total number of participants as of 01/01/2019243
  • Number of participants with account balances250
  • 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

  • AddressN112 W13131 Mequon Rd
  • CityGermantown
  • StateWI
  • Zip53022
  • Telephone(262) 781-1992
  • EIN39-0931834
  • Industry Code333610
  • Named AdministratorDaniel Stangl

Audit Information

  • Audit StatusAudited
  • AuditorSikich LLP
  • Auditor EIN36-3168081
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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? 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 $7,585,164
Contributions $2,013,418
Cash Contributions $2,013,418
Cash from Employers $687,072
Cash from Participants $1,308,814
Others (including rollovers) $17,532
Noncash Contributions $0
Total Earnings on Investments $5,571,473
Total Interest $1,651
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $389
Interest from Other Investments $1,262
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 $0
Net investment gain (loss) from pooled separate accounts $5,569,822
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 $0
Other Income $273
Expenses $1,058,814
Total Benefit Payments $967,242
Directly to participants or beneficiaries, including direct rollovers $967,242
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 $91,572
Professional Fees $0
Contract Administrator Fees $69,984
Investment Advisory and management fees $21,588
Other Administrative Fees $0
Net Income $6,526,350
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $3,896

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $30,226,048 $23,704,506 27.51%
Total noninterest-bearing cash $5,163 $9,363 -44.86%
Receivables $535,124 $935,414 -42.79%
Employer Contributions $535,124 $935,414 -42.79%
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 $3,394 $18,440 -81.59%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $29,610,439 $22,655,413 30.70%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $71,928 $85,876 -16.24%
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 $5,163 $6,075 -15.01%
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) $5,163 $6,075 -15.01%
Net Assets $30,220,885 $23,698,431 27.52%

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
Lpl Financial, LLC - Rpcp Investment advisory (participants) RIA $21,900 $0 $21,900
John Hancock Life Insurance Company Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Other insurance wrap fees, Soft dollars commissions Recordkeeper $5,493 $0 $5,493
Total $27,393 $0 $27,393

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
Freyberg Hinkle Ashland Powers & St Accountant Acquired By Sikich

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Money Market Fund John Hancock USA DFE: Pooled Separate Account $3,219,292
Jh Multimanager Aggressive Ls John Hancock USA DFE: Pooled Separate Account $2,581,387
500 Index Fund John Hancock USA DFE: Pooled Separate Account $2,100,912
The Growth Fund of America John Hancock USA DFE: Pooled Separate Account $1,792,507
Jh Multimanager Growth Ls John Hancock USA DFE: Pooled Separate Account $1,614,436
T. Rowe Price Equity Inc John Hancock USA DFE: Pooled Separate Account $1,557,683
Mid Cap Stock Fund John Hancock USA DFE: Pooled Separate Account $1,491,020
Jh Multimanager 2035 Lifetime John Hancock USA DFE: Pooled Separate Account $1,481,195
Jh Multimanager Moderate Ls John Hancock USA DFE: Pooled Separate Account $1,399,992
Dfa U.S. Small Cap Fund John Hancock USA DFE: Pooled Separate Account $1,269,819
Invesco Opp Developing Mkt John Hancock USA DFE: Pooled Separate Account $1,216,953
Jh Multimanager 2045 Lifetime John Hancock USA DFE: Pooled Separate Account $1,190,837
Blue Chip Growth Fund John Hancock USA DFE: Pooled Separate Account $1,018,103
Jh Multimanager Balanced Ls John Hancock USA DFE: Pooled Separate Account $958,134
T. Rowe Price Spectrum Inc John Hancock USA DFE: Pooled Separate Account $860,954
Jh Multimanager 2050 Lifetime John Hancock USA DFE: Pooled Separate Account $782,758
Jh Multimanager 2040 Lifetime John Hancock USA DFE: Pooled Separate Account $772,881
Small Cap Stock Fund John Hancock USA DFE: Pooled Separate Account $569,376
Jh Multimanager Conserv Ls John Hancock USA DFE: Pooled Separate Account $480,465
Europacific Growth Fund John Hancock USA DFE: Pooled Separate Account $478,648
Capital World Growth & Income John Hancock USA DFE: Pooled Separate Account $430,747
Real Est. Securities Fund John Hancock USA DFE: Pooled Separate Account $390,145
Jh Multimanager 2030 Lifetime John Hancock USA DFE: Pooled Separate Account $353,614
Jh Multimanager 2055 Lifetime John Hancock USA DFE: Pooled Separate Account $329,051
Jh Multimanager 2020 Lifetime John Hancock USA DFE: Pooled Separate Account $214,834
Mid Value Fund John Hancock USA DFE: Pooled Separate Account $172,917
Jh Multimanager 2025 Lifetime John Hancock USA DFE: Pooled Separate Account $156,655
Dfa Us Targeted Value Fund John Hancock USA DFE: Pooled Separate Account $153,768
Fidelity Mid Cap Index Fund John Hancock USA DFE: Pooled Separate Account $137,770
Jh Multimanager 2060 Lifetime John Hancock USA DFE: Pooled Separate Account $117,793
Jh Multimanager 2015 Lifetime John Hancock USA DFE: Pooled Separate Account $95,136
Vanguard Short-Term Federal John Hancock USA DFE: Pooled Separate Account $59,467
John Hancock Bond Fund John Hancock USA DFE: Pooled Separate Account $58,853
Fidelity International Index John Hancock USA DFE: Pooled Separate Account $49,938
Invesco International Growth John Hancock USA DFE: Pooled Separate Account $19,922
Ishares Gold Trust Etf John Hancock USA DFE: Pooled Separate Account $14,510
Dfa International Value John Hancock USA DFE: Pooled Separate Account $12,876
Mfs Utilities Fund John Hancock USA DFE: Pooled Separate Account $2,740
Pimco Commodity Real Return John Hancock USA DFE: Pooled Separate Account $2,351
Total $29,610,439

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company 259
EIN 01-0233346
Industry Code 65838
Contract Number 30837
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $71,928
Value in Separate Accounts at Year End $29,610,439
Insurance Fees and Commissions $5,341
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Pension Inc. 1980 Commercial Way Green Bay, WI 54311 Third Party Administrator $0 $5,341 TPA FEES PAID (DISTRIBUTION FEES) TPA COMPENSATION
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 GROUP ANNUITY
Balance at the end of the previous year $85,876
Additions $13,098
Contributions Deposited during the year $11,424
Dividends and credits $0
Interest credited during the year $1,262
Transferred from separate account $0
Other $412
Total of Balance and Additions $98,974
Deductions $27,046
Disbursed from fund to pay benefits or purchase annuities during the year $26,195
Administration charge made by carrier $196
Transferred to Separate Account $640
Other $15
Balance at the end of the current year $71,928