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FORM 5500 DATA

K.J. Electric Profit Sharing and 401k Plan

Overview

Plan Information

  • Plan Year10/01/2017 — 09/30/2018
  • Date of Plan01/01/1983
  • Net Assets as of 09/30/2018 $5,465,327
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 09/30/2018

  • Active (Eligible) Participants88
  • Retired or separated participants receiving benefits4
  • Other retired or separated participants entitled to future benefits30
  • Subtotal122
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total122
  • Total number of participants as of 10/01/2017103
  • Number of participants with account balances100
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1

Expenses

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

Sponsor Information

  • Address5894 E. Molloy Road
  • CitySyracuse
  • StateNY
  • Zip13211
  • Telephone(315) 454-5535
  • EIN16-1159405
  • Industry Code423600
  • Named AdministratorKenneth Jacobs

Audit Information

  • Audit StatusAudited
  • AuditorPiaker & Lyons CPAS
  • Auditor EIN16-1383205
  • 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.
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.
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 $827,903
Contributions $229,660
Cash Contributions $229,660
Cash from Employers $23,416
Cash from Participants $206,056
Others (including rollovers) $188
Noncash Contributions $0
Total Earnings on Investments $598,243
Total Interest $513
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $513
Interest from Other Investments $0
Total Dividends $164,380
Preferred Stock $0
Common Stock $33,222
Rents $0
Net gain (loss) on sale of assets $14,776
Aggregate Proceeds $14,776
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $217,182
Real Estate $0
Other $217,182
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 $201,392
Other Income $0
Expenses $640,476
Total Benefit Payments $607,018
Directly to participants or beneficiaries, including direct rollovers $607,018
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 $33,458
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $33,458
Other Administrative Fees $0
Net Income $187,427
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2018 09/30/2017 Change YOY
Total Assets $5,465,327 $5,277,900 3.55%
Total noninterest-bearing cash $4,515 $71,376 -93.67%
Receivables $28,664 $23,569 21.62%
Employer Contributions $26,700 $21,500 24.19%
Participant Contributions $1,430 $1,561 -8.39%
Other Contributions $534 $508 5.12%
General Investments $13,835 $16,308 -15.16%
Interest-bearing cash $13,835 $16,308 -15.16%
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 $1,177,742 $1,020,809 15.37%
Preferred $0 $0 0.0%
Common $1,177,742 $1,020,809 15.37%
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 $10,528 $11,133 -5.43%
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 $3,856,866 $4,134,705 -6.72%
Value of funds held in insurance co. general account $373,177 $0 0.0%
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 $5,465,327 $5,277,900 3.55%

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
First Great-West Life & Annuity Recordkeeping fees Recordkeeper $16,917 $0 $16,917
Lpl Financial Contract Administrator Invest Adv Admin $5,086 $0 $5,086
Benefit Plans Administrative Srvcs Contract Administrator Contract Admin $0 $3,476 $3,476
Ifc Holdings Dba Invest Financial Investment advisory (plan) Broker/Adviso R $2,206 $0 $2,206
Empower Retiremtn Adv Services Investment management Invest Mgmt $160 $0 $160
Total $24,369 $3,476 $27,845

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Benefit Plans Administrative Servic First Great West Life & Annuity Contract Administrator Tpa Allowance Payment $3,476
*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
Great-West Life & Annuity Insurance Company of New York 17
EIN 93-1225432
Industry Code 60214
Contract Number 386738-01
Contract Year 10/01/2017 — 09/30/2018
Value in General Account at Year End $373,177
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $309,784
Additions $148,074
Contributions Deposited during the year $8,567
Dividends and credits $0
Interest credited during the year $3,953
Transferred from separate account $135,429
Other $125
Total of Balance and Additions $457,858
Deductions $84,681
Disbursed from fund to pay benefits or purchase annuities during the year $74,736
Administration charge made by carrier $443
Transferred to Separate Account $9,502
Other $0
Balance at the end of the current year $373,177