Back to top
Home>401K Directory>General Equipment Supplies Inc 401k Plan>Form 5500

General Equipment & Supplies, Inc.

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information
FORM 5500 DATA

General Equipment & Supplies, Inc. 401k Plan

Form 5500 Year:

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information

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
Contributions $1,830,164
Cash Contributions $1,830,164
Cash from Employers $602,076
Cash from Participants $1,093,132
Others (including rollovers) $134,956
Noncash Contributions $0
Total Earnings on Investments $4,022,468
Total Interest $14,344
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $14,344
Interest from Other Investments $0
Total Dividends $689,091
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 $4,321
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 $3,314,712
Other Income $0
Expenses $967,784
Total Benefit Payments $882,736
Directly to participants or beneficiaries, including direct rollovers $882,736
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 $85,048
Professional Fees $9,450
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $75,598
Net Income $4,884,848
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 $22,511,363 $17,626,515 27.71%
Total noninterest-bearing cash $155 $0 0.0%
Receivables $0 $51,209 -100.00%
Employer Contributions $0 $17,266 -100.00%
Participant Contributions $0 $33,943 -100.00%
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 $223,602 $283,433 -21.11%
Value of interest in common/collective trusts $205,670 $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 $22,081,936 $17,291,873 27.70%
Value of funds held in insurance co. general account $0 $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 $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
John Hancock Life Insurance Company (USA) 0
EIN 01-0233346
Industry Code 65838
Contract Number 39673
Contract Year 01/01/2019 — 01/03/2019
Value in General Account at Year End $0
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 Group Deferred Annuity
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