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FORM 5500 DATA

Associated Clinic of Psychology 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan08/01/1994
  • Net Assets as of 12/31/2019 $14,576,784
  • 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) Participants209
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits48
  • Subtotal260
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total260
  • Total number of participants as of 01/01/2019238
  • Number of participants with account balances254
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested3

Expenses

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

Sponsor Information

  • Address4240 Park Glen Rd
  • CityMinneapolis
  • StateMN
  • Zip55416-4758
  • Telephone(612) 925-6033
  • EIN41-1425197
  • Industry Code621330
  • Named AdministratorJohn Brose

Audit Information

  • Audit StatusAudited
  • AuditorEllingson & Ellingson, Ltd.
  • Auditor EIN41-1399624
  • 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.
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 $3,816,368
Contributions $1,049,856
Cash Contributions $1,049,856
Cash from Employers $342,886
Cash from Participants $681,288
Others (including rollovers) $25,682
Noncash Contributions $0
Total Earnings on Investments $2,766,512
Total Interest $6,626
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $6,626
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 $2,759,886
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 $0
Expenses $735,122
Total Benefit Payments $671,740
Directly to participants or beneficiaries, including direct rollovers $671,740
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 $63,382
Professional Fees $0
Contract Administrator Fees $63,382
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $3,081,246
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 $14,576,784 $11,495,538 26.80%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $68,294 $59,468 14.84%
Employer Contributions $23,462 $21,387 9.70%
Participant Contributions $44,832 $38,081 17.73%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $14,041,600 $10,901,581 28.80%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $466,890 $534,489 -12.65%
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 $14,576,784 $11,495,538 26.80%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions,

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
Transamerica Retirement Solutions Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees Recordkeeper $53,973 $0 $53,973
Morgan Stanley Smith Barney Holding Insurance agents and brokers, Insurance services, Insurance brokerage commissions and fees Broker $0 $39,298 $39,298
Leafhouse Financial Advisors LLC Investment advisory (plan) Investment Advisory $6,376 $0 $6,376
Goldleaf Partners Employer Services Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees TPA $2,786 $81 $2,867
Total $63,135 $39,379 $102,514

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Morgan Stanley Smith Barney Holding Transamerica Retirement Solutions Insurance agents and brokers, Insurance services, Insurance brokerage commissions and fees Commissions $39,298
Goldleaf Partners Employer Services Transamerica Retirement Solutions Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees Tpa Fees $81
*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

Name of Investment Investment Manager Type of Investment Dollar Value
Ab Large Cap Growth I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $3,042,535
American Funds American Balanced R6 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $2,495,693
Pgim Total Return Bond Z Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,870,689
Ishares S&P 500 Index K Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,295,487
Pioneer Equity Income Y Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,212,708
Ishares Msci Eafe International Ind Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,128,975
Pioneer Select Mid Cap Growth Y Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $798,832
Transamerica Stable Value Focus Acc Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $466,890
Oppenheimer International Diversifi Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $380,911
Ishares Russell Mid-Cap Index K Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $329,538
American Funds New World R6 Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $252,152
Fidelity Small Cap Index Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $236,592
Pgim High Yield Z Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $229,035
T. Rowe Price Retirement I 2025 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $178,006
Pimco International Bond (Usd-Hedge Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $170,206
Janus Henderson Triton T Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $157,808
T. Rowe Price Retirement I 2020 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $75,121
T. Rowe Price Retirement I 2050 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $38,835
T. Rowe Price Retirement I 2055 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $21,319
T. Rowe Price Retirement I 2030 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $20,151
T. Rowe Price Retirement I 2035 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $19,736
Dfa Inflation-Protected Securities Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $18,274
T. Rowe Price Retirement I 2045 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $16,497
T. Rowe Price Retirement I 2060 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $14,774
T. Rowe Price Retirement I 2040 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $9,917
Dfa Real Estate Securities I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $9,546
Dfa Us Targeted Value I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $9,164
Victory Sycamore Established Value Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $7,387
T. Rowe Price Retirement I 2015 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,712
T. Rowe Price Retirement I 2010 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
T. Rowe Price Retirement I 2005 I Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Pers Choice Retiremnt Account Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $0
Total $14,508,490

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 254
EIN 36-6071399
Industry Code 70688
Contract Number 517293-000
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $14,041,600
Insurance Fees and Commissions $8,206
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 $6,603 TPA FEES
Morgan Stanley Smith Barney Holding 388 Greenwich Street 17th Floor New York, NY 10013 Insurance Agent or Broker $1,603 $0 BROKER COMMISSIONS
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 STABLE VALUE OPTION
Balance at the end of the previous year $534,489
Additions $60,157
Contributions Deposited during the year $34,036
Dividends and credits $0
Interest credited during the year $6,625
Transferred from separate account $0
Other $19,496
Total of Balance and Additions $594,646
Deductions $127,828
Disbursed from fund to pay benefits or purchase annuities during the year $31,585
Administration charge made by carrier $0
Transferred to Separate Account $82,809
Other $13,434
Balance at the end of the current year $466,818