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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2012
  • Net Assets as of 12/31/2019 $6,037,515
  • 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 12/31/2019

  • Active (Eligible) Participants170
  • Retired or separated participants receiving benefits9
  • Other retired or separated participants entitled to future benefits20
  • Subtotal199
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total199
  • Total number of participants as of 01/01/2019186
  • Number of participants with account balances172
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested21

Expenses

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

Sponsor Information

  • Address1977 West River Road North
  • CityMinneapolis
  • StateMN
  • Zip55411
  • Telephone(612) 287-0703
  • EIN41-0957854
  • Industry Code541990
  • Named AdministratorEmily Goff

Audit Information

  • Audit StatusAudited
  • AuditorRogers & King, CPA, LLC
  • Auditor EIN26-4369558
  • 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.
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 $2,745,576
Contributions $1,734,784
Cash Contributions $1,734,784
Cash from Employers $175,212
Cash from Participants $745,287
Others (including rollovers) $814,285
Noncash Contributions $0
Total Earnings on Investments $1,010,559
Total Interest $7,645
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $7,645
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 $0
Net investment gain (loss) from pooled separate accounts $1,002,914
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 $233
Expenses $337,750
Total Benefit Payments $279,805
Directly to participants or beneficiaries, including direct rollovers $279,805
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 $57,945
Professional Fees $0
Contract Administrator Fees $47,066
Investment Advisory and management fees $10,879
Other Administrative Fees $0
Net Income $2,407,826
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $6,037,515 $3,660,231 64.95%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $38,291 $41,851 -8.51%
Employer Contributions $7,705 $10,753 -28.35%
Participant Contributions $30,586 $24,449 25.10%
Other Contributions $0 $6,649 -100.00%
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 $179,581 $97,467 84.25%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $5,804,199 $3,502,778 65.70%
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 $0 $0 0.0%
Other Investments $15,444 $18,135 -14.84%
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 $30,542 -100.00%
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 $30,542 -100.00%
Net Assets $6,037,515 $3,629,689 66.34%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • John Hancock Life Insurance Company

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
Securities America Investment advisory (participants) Investment Advisory $9,928 $0 $9,928
John Hancock Life Insurance Company Recordkeeping and information management (computing, tabulating, data processing, etc.) Recordkeeper $2,361 $0 $2,361
Wilshire Associates Investment advisory (participants) Investment Advisory $950 $0 $950
Total $13,239 $0 $13,239

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
Blackrock Lifepath Index 2035 John Hancock USA DFE: Pooled Separate Account $1,639,972
Blackrock Lifepath Index 2045 John Hancock USA DFE: Pooled Separate Account $832,096
Blackrock Lifepath Index 2050 John Hancock USA DFE: Pooled Separate Account $653,746
Blackrock Lifepath Index 2040 John Hancock USA DFE: Pooled Separate Account $523,149
Blackrock Lifepath Index 2030 John Hancock USA DFE: Pooled Separate Account $392,298
Blackrock Lifepath Index 2025 John Hancock USA DFE: Pooled Separate Account $283,978
Blackrock Lifepath Index 2055 John Hancock USA DFE: Pooled Separate Account $230,313
Mid Cap Stock Fund John Hancock USA DFE: Pooled Separate Account $170,398
Blackrock Lifepath Index 2060 John Hancock USA DFE: Pooled Separate Account $143,502
The Growth Fund of America John Hancock USA DFE: Pooled Separate Account $108,804
Carillon Eagle Mid Cap Growth John Hancock USA DFE: Pooled Separate Account $106,244
Small Cap Index Fund John Hancock USA DFE: Pooled Separate Account $98,372
Mid Cap Index Fund John Hancock USA DFE: Pooled Separate Account $88,888
New Perspective Fund John Hancock USA DFE: Pooled Separate Account $81,222
Washington Mutual Investors John Hancock USA DFE: Pooled Separate Account $75,414
Investment Company of America John Hancock USA DFE: Pooled Separate Account $71,534
Capital World Growth & Income John Hancock USA DFE: Pooled Separate Account $65,766
Dfa International Value John Hancock USA DFE: Pooled Separate Account $56,961
Blackrock Lifepath Index Ret John Hancock USA DFE: Pooled Separate Account $49,611
500 Index Fund John Hancock USA DFE: Pooled Separate Account $42,505
Vanguard Small Cap Grow Index John Hancock USA DFE: Pooled Separate Account $23,972
Intl Equity Index Fund John Hancock USA DFE: Pooled Separate Account $13,031
Dfa Emerging Markets Value John Hancock USA DFE: Pooled Separate Account $9,386
John Hancock Bond Fund John Hancock USA DFE: Pooled Separate Account $7,613
John Hancock Stable Val John Hancock USA DFE: Pooled Separate Account $7,557
Dfa Inflation-Protected Sec John Hancock USA DFE: Pooled Separate Account $7,466
Vanguard Small Cap Value Index John Hancock USA DFE: Pooled Separate Account $7,204
Total Bond Market Fund John Hancock USA DFE: Pooled Separate Account $6,461
Total Stock Market Index Fund John Hancock USA DFE: Pooled Separate Account $4,235
Dfa U.S. Small Cap Fund John Hancock USA DFE: Pooled Separate Account $2,499
Total $5,804,197

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company 204
EIN 01-0233346
Industry Code 65838
Contract Number 118386
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $5,804,199
Insurance Fees and Commissions $19,219
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Goldleaf Partners Employer Services 8009 34th Ave S, Suite 320 Minneapolis, MN 55425 Third Party Administrator $0 $11,422 TPA FEES
Securities America, Inc. 12325 Port Grace Blvd La Vista, NE 68128 Insurance Agent or Broker $7,797 $0 TPA FEES
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