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FORM 5500 DATA

NATCO PRODUCTS CORPORATION 401k PLAN

Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2011 $10,420,589
  • 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 12/31/2011

  • Active (Eligible) Participants196
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits233
  • Subtotal429
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total429
  • Total number of participants as of 01/01/2011460
  • Number of participants with account balances394
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested7

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 Avenue
  • CityWest Warwick
  • StateRI
  • Zip02893
  • Telephone(401) 828-0300
  • EIN05-0188360
  • Industry Code442210
  • Named AdministratorAlan Ross

Plan Administrator Information

  • Administrator NameNatco Products Corp.
  • Address155 Brookside Avenue
  • CityWest Warwick
  • StateRI
  • Zip02893
  • Telephone(401) 828-0300
  • Administrator EIN05-0188360

Audit Information

  • Audit StatusAudited
  • AuditorSullivan and Company CPAS LLP
  • Auditor EIN06-1470257
  • 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? 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 $513,007
Contributions $760,716
Cash Contributions $760,716
Cash from Employers $268,185
Cash from Participants $492,531
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-369,210
Total Interest $54,570
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $7,944
Interest from Other Investments $46,626
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 $-423,780
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 $121,501
Expenses $602,295
Total Benefit Payments $574,117
Directly to participants or beneficiaries, including direct rollovers $574,117
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $15,320
Certain deemed distributions of participant loans $9,703
Interest expense $0
Total Administrative Expenses $3,155
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $3,155
Net Income $-89,288
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $10,435,909 $10,530,693 -0.90%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $277,556 $254,479 9.07%
Employer Contributions $269,154 $245,960 9.43%
Participant Contributions $8,402 $8,519 -1.37%
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 $177,585 $138,321 28.39%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $7,935,706 $8,764,557 -9.46%
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 $2,045,062 $1,373,336 48.91%
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 $15,320 $20,816 -26.40%
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) $15,320 $20,816 -26.40%
Net Assets $10,420,589 $10,509,877 -0.85%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

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
Ing Mutual Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Product Provi $0 $48,319 $48,319
Ing Life Insurance and Annuity Co. Investment advisory (participants), Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Other investment fees and expenses Service Provider $0 $44,726 $44,726
Ing Financial Advisers Distribution (12b-1) fees Broker/Dealer $0 $22,599 $22,599
Davis Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $18,617 $18,617
American Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $18,587 $18,587
Oppenheimer Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $8,192 $8,192
Morningstar Investment advisory (participants) Service Provider $0 $5,330 $5,330
Total $0 $166,370 $166,370

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
American Funds American Fds Europacific Growth Fd Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $4,921
American Funds American Fds Fundamental Invst Sm Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $2,396
American Funds American Fds New Perspective Fd Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $5,461
Ing Mutual Funds Ing Solution 2045 Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $2,524
Morningstar Ing Life Insurance & Annuity Co Investment advisory (participants) Investment Advisory (Participants) $5,330
Oppenheimer Funds Oppenheimer Main St Small & Mid Cap Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $8,192
Ing Life Insurance and Annuity Co Ing Baron Small Cap Grwth Port Srv Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbursement Fees Account Maintenance Fees $1,042
Ing Life Insurance and Annuity Co Ing Clarion Real Extate Port Srv Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbursement Fees Account Maintenance Fees $1,254
Ing Life Insurance and Annuity Co Ing Intl Small Cap Fund A Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbursement Fees Account Maintenance Fees $1,382
Ing Life Insurance and Annuity Co Ing Solution 2045 Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbursement Fees Account Maintenance Fees $1,219
Ing Life Insurance and Annuity Co Wanger Select Sub-transfer agency fees Sub-Transfer/Reimbursement Fees $1,322
American Funds American Fds The Growth Fd of Ameri Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $5,666
Davis Funds Davis New York Venture Fund Cl R Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $18,617
Ing Financial Advisers Af Europacific Growth Fund Distribution (12b-1) fees 12B-1 Distribution Fees $2,152
Ing Financial Advisers American Funds Fundamental Invest Distribution (12b-1) fees 12B-1 Distribution Fees $1,234
Ing Financial Advisers Af New Perspective Fund C Distribution (12b-1) fees 12B-1 Distribution Fees $2,431
Ing Financial Advisers Af The Growth Fund of Americ Distribution (12b-1) fees 12B-1 Distribution Fees $2,915
Ing Financial Advisers Davis New York Venture Fd Distribution (12b-1) fees 12B-1 Distribution Fees $7,520
Ing Financial Advisers Ing Intermediate Bond Fd Distribution (12b-1) fees 12B-1 Distribution Fees $1,637
Ing Financial Advisers Oppenheimer Main St Small & Mid Cap Distribution (12b-1) fees 12B-1 Distribution Fees $2,749
Ing Life Insurance and Annuity Co. Davis New York Venture Fund Sub-transfer agency fees Sub-Transfer/Reimbursement Fees $2,256
Ing Life Insurance and Annuity Co. Ing Fixed Account Recordkeeping fees Record-Keeping Fees $8,299
Ing Life Insurance and Annuity Co. Ing Life Insurance and Annuity Co. Investment advisory (participants) Investment Advisory (Participants) $5,330
Ing Life Insurance and Annuity Co. Ing Solution Income Portfolio Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbusement Fees Account Maintenance Fees $2,816
Ing Life Insurance and Annuity Co. Ing Solution 2025 Portfolio Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbusement Fees Account Maintenance Fees $8,267
Ing Life Insurance and Annuity Co. Ing Solution 2035 Portfolio Sub-transfer agency fees, Account maintenance fees Sub-Transfer/Reimbusement Fees Account Maintenance Fees $4,696
Ing Mutual Funds Ing Baron Small Cap Growth Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $2,503
Ing Mutual Funds Ing Blackrock Science & Tech Opp Investment management, Investment management fees paid indirectly by plan Investment Management Investment Management Fees $2,082
Ing Mutual Funds Ing Clarion Real Estate Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $2,058
Ing Mutual Funds Ing Intermediate Bond Fd Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $3,102
Ing Mutual Funds Ing Intn'L Small Cap Multi Manager Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $4,443
Ing Mutual Funds Ing Solution Income Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $4,595
Ing Mutual Funds Ing Solution 2015 Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $1,596
Ing Mutual Funds Ing Solution 2025 Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $15,866
Ing Mutual Funds Ing Solution 2035 Port Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Fees Investment Management Fees 12B-1 Distribution Fees $9,426
*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
Map Contract Separate Account D Ing Life Insurance and Annuity Comp DFE: Pooled Separate Account $7,935,706
Total $7,935,706

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Ing Life Insurance and Annuity Company 394
EIN 71-0294708
Industry Code 86509
Contract Number PH9466
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $2,045,062
Value in Separate Accounts at Year End $7,935,706
Insurance Fees and Commissions $26,702
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Paul Merlino 15 Mallard Cove Way Barrington, RI 02806 Insurance Agent or Broker $21,370 $0
The Angell Pension Group, Inc. 88 Boyd Avenue East Providence, RI 02914 Third Party Administrator $0 $4,052 TPA ADMINISTRATOR ALLOWANCE
Cornerstone Retirement Plan Adminis 931 Jefferson Blvd., Suite 3001 Warwick, RI 02886 Third Party Administrator $0 $1,280 TPA ADMINISTRATOR ALLOWANCE
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 GROUP PENSION FUNDING
Balance at the end of the previous year $1,373,336
Additions $854,867
Contributions Deposited during the year $118,085
Dividends and credits $0
Interest credited during the year $46,626
Transferred from separate account $540,881
Other $149,275
Total of Balance and Additions $2,228,203
Deductions $183,141
Disbursed from fund to pay benefits or purchase annuities during the year $100,982
Administration charge made by carrier $1,542
Transferred to Separate Account $22,339
Other $58,278
Balance at the end of the current year $2,045,062