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General Equipment & Supplies, Inc.
Plan RatingFORM 5500 DATA
Overview
Plan Information
- Plan Year01/01/2019 — 12/31/2019
- Date of Plan01/01/1993
- Net Assets as of 12/31/2019 $22,511,363
- 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
- Report Description This is an amended report.
- Plan Funding ArrangementInsurance Trust
- Plan Benefit ArrangementInsurance Trust
Participant Information as of 12/31/2019
- Active (Eligible) Participants240
- Retired or separated participants receiving benefits0
- Other retired or separated participants entitled to future benefits24
- Subtotal264
- Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
- Total264
- Total number of participants as of 01/01/2019248
- Number of participants with account balances222
- Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0
Expenses
- Total Benefit Payments$0
- Corrective Distributions$0
- Administrative Service Providers$0
- Other Expenses$0
- Total Expenses$0
- Total Transfers$0
Sponsor Information
- Address4300 W. Main Ave
- CityFargo
- StateND
- Zip58103
- Telephone(701) 282-2662
- EIN45-0382112
- Industry Code333100
- Named AdministratorSara Frith
Audit Information
- Audit StatusAudited
- AuditorEide Bailly LLP
- Auditor EIN45-0250958
- 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? | Yes | |
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? | Yes |
Financials
Income and Expense Statement
Income | $5,852,632 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Expenses | $967,784 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Income | $4,884,848 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Asset and Liability Statement
12/31/2019 | 12/31/2018 | Change YOY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Assets | $22,511,363 | $17,626,515 | 27.71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Liabilities | $0 | $0 | 0.0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net Assets | $22,511,363 | $17,626,515 | 27.71% |
Service Providers
Persons Receiving Only Eligible Indirect Compensation
- Charles Schwab Investment Mgmt Inc.
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 |
---|---|---|---|---|---|
Heartland Trust Company | Trustee (bank, trust company, or similar financial institution) | NONE | $75,598 | $0 | $75,598 |
Eide Bailly LLP | Accounting (including auditing) | NONE | $9,450 | $0 | $9,450 |
Charles Schwab & Co., Inc. | Shareholder servicing fees | NONE | $0 | $0 | $0 |
Epic Retirement Plan Services | Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Participant communication | NONE | $0 | $0 | $0 |
Total | $85,048 | $0 | $85,048 |
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 |
---|---|---|---|
Capital Preservation Fund | Federated Investors Trust Company | DFE: Common/Collective Trust | $205,670 |
T. Rowe Price Health Science Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Mid Cap Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Blue Chip Growth Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Dfa International Small Cap Value | John Hancock USA | DFE: Pooled Separate Account | $0 |
Washington Mutual Investors Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Total Stock Market Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Capital World Growth & Income Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
500 Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Real Estate Securities Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Small Cap Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Mid Cap Stock Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Invesco Small Cap Growth Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Mid Cap Stock Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Small Cap Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Real Estate Securities Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
T. Rowe Price Health Science Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Mid Cap Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Blue Chip Growth Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Invesco Small Cap Growth Index Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Vanguard Mid-Cap Value Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Undiscovered Mgr Behavioral Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2030 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2025 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2020 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Balanced | John Hancock USA | DFE: Pooled Separate Account | $0 |
Lifestyle Aggressive | John Hancock USA | DFE: Pooled Separate Account | $0 |
Lifestyle Growth | John Hancock USA | DFE: Pooled Separate Account | $0 |
Lifestyle Balanced Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Lifestyle Moderate Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2035 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2040 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
Global Bond Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
New Perspective Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
John Hancock Bond Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
John Hancock Stable Value Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2060 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2055 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2050 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
American Funds 2045 Td | John Hancock USA | DFE: Pooled Separate Account | $0 |
Lifestyle Conservative Fund | John Hancock USA | DFE: Pooled Separate Account | $0 |
Total | $205,670 |
Insurance Information
Insurance Information
Insurance Carrier Summary | Persons Covered | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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John Hancock Life Insurance Company (USA) | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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