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Natco Products Corporation

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information
FORM 5500 DATA

NATCO PRODUCTS CORPORATION 401k PLAN

Form 5500 Year:

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information

Overview

Plan Information

  • Plan Year01/01/2006 — 12/31/2006
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2006 $10,809,081
  • Plan Number2
  • 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 12/31/2006

  • Active (Eligible) Participants254
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits168
  • Subtotal422
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total422
  • Total number of participants as of 01/01/2006490
  • Number of participants with account balances415
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested16
  • Number of participants required to be reported on Schedule SSA22

Expenses

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

Sponsor Information

  • Address155 Brookside Ave
  • CityWest Warwick
  • StateRI
  • Zip02893-3865
  • Telephone(401) 828-0300
  • EIN05-0188360
  • Industry Code442210
  • Named AdministratorMichael Litner
  • Named Plan SponsorMichael Litner

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Audit Information

  • Audit StatusAudited
  • AuditorAndsager, Bartlett & Pieroni, LLP
  • Auditor EIN05-0479760
  • 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.

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

Financials

Income and Expense Statement
Income $2,069,214
Contributions $817,461
Cash Contributions $817,461
Cash from Employers $287,532
Cash from Participants $477,211
Others (including rollovers) $52,718
Noncash Contributions $0
Total Earnings on Investments $1,251,753
Total Interest $12,750
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $12,750
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 $15,951
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 $1,223,052
Other Income $0
Expenses $1,408,749
Total Benefit Payments $1,381,412
Directly to participants or beneficiaries, including direct rollovers $1,381,412
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 $27,337
Professional Fees $0
Contract Administrator Fees $27,337
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $660,465
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2006 12/31/2005 Change YOY
Total Assets $10,809,081 $10,148,616 6.51%
Total noninterest-bearing cash $24,791 $4,811 415.30%
Receivables $262,741 $390,403 -32.70%
Employer Contributions $262,741 $390,403 -32.70%
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 $217,692 $269,362 -19.18%
Value of interest in common/collective trusts $0 $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 $9,672,067 $8,897,064 8.71%
Value of funds held in insurance co. general account $631,790 $586,976 7.63%
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 $10,809,081 $10,148,616 6.51%

Service Providers

Service Providers

There are no service providers listed for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Jh Lifestyle Balanced John Hancock Life Insurance (USA) DFE: Pooled Separate Account $1,398,854
Vs Real Est Securities John Hancock Life Insurance (USA) DFE: Pooled Separate Account $860,979
500 Index Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $859,339
Jh Lifestyle Conservative John Hancock Life Insurance (USA) DFE: Pooled Separate Account $699,487
Jh Lifestyle Growth John Hancock Life Insurance (USA) DFE: Pooled Separate Account $660,436
Vs Blue Chip Growth Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $660,308
Vs Science & Tech Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $544,641
Vs Equity Income Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $445,527
Vs Small Company Value Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $417,821
Vs Global Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $336,611
Money Market Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $325,523
Vs Value Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $303,921
Vs All Cap Core Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $303,443
Vs Int'L Value Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $275,932
Vs Strategic Opps Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $273,701
Vs Int'L Small Cap Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $197,938
Vs Emerging Small Co Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $143,467
Jh Lifestyle Aggressive John Hancock Life Insurance (USA) DFE: Pooled Separate Account $132,443
Vs High Yield Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $109,238
Vs Mid Cap Stock Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $98,417
Vs Us Gov'T Securities John Hancock Life Insurance (USA) DFE: Pooled Separate Account $87,453
Jh Lifestyle Moderate John Hancock Life Insurance (USA) DFE: Pooled Separate Account $86,231
Vs Pacific Rim Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $62,797
Int'L Equity Index Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $61,483
Vs Total Return Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $50,673
Small Cap Index Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $47,986
Vs Strategic Bond Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $44,119
Mid Cap Index Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $42,518
Vs Global Allocation Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $40,011
Vs Int'L Stock Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $28,764
Small Cap Opps Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $20,766
Vs Income & Value Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $18,373
Vs Global Bond John Hancock Life Insurance (USA) DFE: Pooled Separate Account $12,515
Vs Investment Qual Bond Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $10,514
Vs Capital Appreciation Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $3,823
Vs Dynamic Growth Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $2,595
Vs Active Bond Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $2,451
Vs All Cap Growth Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $399
Vs Us Core Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $379
Total Stock Market Index Fund John Hancock Life Insurance (USA) DFE: Pooled Separate Account $193
Total $9,672,069

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company (U.S.A.) 415
EIN 01-0233346
Industry Code 65838
Contract Number 64314
Contract Year 01/01/2006 — 12/31/2006
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $57,595
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
1st Global Insurance Agency Insurance Agent or Broker $52,178 $0
Bentley Employee Benefits Group 301 Metro Center Blvd. Warwick, RI 02886 Third Party Administrator $0 $5,417 RECORDKEEPING
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 Guaranteed Investment
Balance at the end of the previous year $586,976
Additions $112,675
Contributions Deposited during the year $81,640
Dividends and credits $0
Interest credited during the year $17,739
Transferred from separate account $0
Other $13,296
Total of Balance and Additions $699,651
Deductions $67,860
Disbursed from fund to pay benefits or purchase annuities during the year $44,845
Administration charge made by carrier $1,775
Transferred to Separate Account $1,464
Other $19,776
Balance at the end of the current year $631,791