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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1993
  • Net Assets as of 12/31/2019 $201,354,975
  • 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) Participants1,433
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits542
  • Subtotal1,975
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits6
  • Total1,981
  • Total number of participants as of 01/01/20192,054
  • Number of participants with account balances1,674
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested34

Expenses

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

Sponsor Information

  • Address1020 East 1st Street
  • CityPapillion
  • StateNE
  • Zip68046-7611
  • Telephone(402) 836-4681
  • EIN47-0751545
  • Industry Code511140
  • Named AdministratorMary Zadow
  • Named Plan SponsorMary Zadow

Audit Information

  • Audit StatusAudited
  • AuditorKPMG LLP
  • Auditor EIN13-5565207
  • 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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $5,000,000
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 $49,659,449
Contributions $12,392,902
Cash Contributions $12,392,902
Cash from Employers $2,928,904
Cash from Participants $8,492,179
Others (including rollovers) $971,819
Noncash Contributions $0
Total Earnings on Investments $36,907,868
Total Interest $301,018
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $99,454
Interest from Other Investments $201,564
Total Dividends $1,066,583
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 $9,918,823
Net investment gain (loss) from pooled separate accounts $7,368,331
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 $18,253,113
Other Income $358,679
Expenses $11,000,952
Total Benefit Payments $10,687,334
Directly to participants or beneficiaries, including direct rollovers $10,687,184
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $150
Corrective Distributions $1,310
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $312,308
Professional Fees $30,712
Contract Administrator Fees $256,596
Investment Advisory and management fees $25,000
Other Administrative Fees $0
Net Income $38,658,497
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 $201,354,975 $162,696,478 23.76%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
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 $1,806,998 $1,590,461 13.61%
Value of interest in common/collective trusts $56,099,059 $43,450,972 29.11%
Value of interest in pooled separate accounts $31,573,106 $24,421,298 29.29%
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 $98,085,294 $81,046,557 21.02%
Value of funds held in insurance co. general account $11,434,821 $10,608,352 7.79%
Other Investments $2,355,697 $1,578,838 49.20%
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 $201,354,975 $162,696,478 23.76%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal 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
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $240,872 $454 $241,326
Groom Law Group Chartere Legal, Direct payment from the plan Legal $45,381 $0 $45,381
Lockton Investment Adv Investment advisory (plan), Direct payment from the plan Investment Advisory $25,000 $0 $25,000
Total $311,253 $454 $311,707

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
Prin Lgcp S&P 500 Index Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $24,969,574
T. Rowe Price Rtm 2030 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $9,633,435
T. Rowe Price Rtm 2035 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $8,481,434
T. Rowe Price Rtm 2040 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $8,392,124
T. Rowe Price Rtm 2010 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $6,588,931
T. Rowe Price Rtm 2050 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $5,744,690
T. Rowe Price Rtm 2020 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $5,171,299
T. Rowe Price Rtm 2025 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $4,995,681
T. Rowe Price Rtm 2045 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $3,768,651
Prin Midcap S&P 400 Idx Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,395,283
Prin Smcap S&P 600 Index Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,131,522
T. Rowe Price Rtm 2055 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $1,720,833
T. Rowe Price Rtm 2015 Tr Cl A T Rowe Price Trust Company DFE: Common/Collective Trust $974,609
T Rowe Price Rtm 2060 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $485,289
T. Rowe Price Rtm 2005 Tr Cl A T. Rowe Price Trust Company DFE: Common/Collective Trust $142,083
Principal Div Real Asset Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $76,727
Total $87,672,165

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 1,981
EIN 42-0127290
Industry Code 61271
Contract Number 613953
Contract Year 01/01/2019 — 12/31/2019
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 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 CUSTODIAL GUARANTEED INTEREST CONTRACT
Balance at the end of the previous year $10,608,352
Additions $7,545,121
Contributions Deposited during the year $576,119
Dividends and credits $0
Interest credited during the year $201,564
Transferred from separate account $0
Other $6,767,438
Total of Balance and Additions $18,153,473
Deductions $6,718,652
Disbursed from fund to pay benefits or purchase annuities during the year $809,756
Administration charge made by carrier $23,918
Transferred to Separate Account $0
Other $5,884,978
Balance at the end of the current year $11,434,821
Principal Life Insurance Company 1,981
EIN 42-0127290
Industry Code 61271
Contract Number 616903
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $31,573,106
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 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