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FORM 5500 DATA

NATCO PRODUCTS CORPORATION 401k PLAN

Overview

Plan Information

  • Plan Year01/01/2012 — 12/31/2012
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2012 $12,160,251
  • 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 12/31/2012

  • Active (Eligible) Participants210
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits244
  • Subtotal454
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total454
  • Total number of participants as of 01/01/2012492
  • Number of participants with account balances430
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested16

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
  • AuditorBlum, Shapiro & Co., P.C.
  • Auditor EIN06-1009205
  • 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 $2,140,255
Contributions $800,800
Cash Contributions $800,800
Cash from Employers $271,706
Cash from Participants $495,108
Others (including rollovers) $33,986
Noncash Contributions $0
Total Earnings on Investments $1,272,712
Total Interest $66,207
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,801
Interest from Other Investments $59,406
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 $1,206,505
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 $66,743
Expenses $400,593
Total Benefit Payments $370,446
Directly to participants or beneficiaries, including direct rollovers $370,446
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $27,282
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $2,865
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $2,865
Net Income $1,739,662
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2012 12/31/2011 Change YOY
Total Assets $12,187,533 $10,435,909 16.78%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $281,700 $277,556 1.49%
Employer Contributions $271,706 $269,154 0.95%
Participant Contributions $9,994 $8,402 18.95%
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 $141,092 $177,585 -20.55%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $9,513,083 $7,935,706 19.88%
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 $2,251,658 $2,045,062 10.10%
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 $27,282 $15,320 78.08%
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) $27,282 $15,320 78.08%
Net Assets $12,160,251 $10,420,589 16.69%

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 Life Insurance and Annuity Co. Investment advisory (participants), Investment advisory (plan), Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Insurance mortality and expense charge Service Provider $0 $58,864 $58,864
Ing Mutual Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Product Provi $0 $51,581 $51,581
Ing Financial Advisers Distribution (12b-1) fees Broker/Dealer $0 $22,395 $22,395
American Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $20,995 $20,995
Davis Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $12,023 $12,023
Oppenheimer Funds Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Invst Product Provider $0 $7,829 $7,829
Morningstar Investment advisory (participants), Investment advisory (plan) Service Provider $0 $5,740 $5,740
Columbia Wagner Asset Management Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Product Provi $0 $5,694 $5,694
Total $0 $185,121 $185,121

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 $3,959
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 $6,573
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 $4,257
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 $2,899
Morningstar Ing Life Insurance & Annuity Co Investment advisory (participants), Investment advisory (plan) Investment Advisory (Participants) Investment Advisory (Plan) $5,740
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 $7,829
Ing Life Insurance and Annuity Co American Funds Fdmntl Inv Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $2,228
Ing Life Insurance and Annuity Co Ing Clarion Real Extate Port Srv Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $3,242
Ing Life Insurance and Annuity Co Ing Intl Small Cap Fund A Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,215
Ing Life Insurance and Annuity Co Ing Solution 2045 Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $1,697
Ing Life Insurance and Annuity Co Wanger Select Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,800
Ing Life Insurance and Annuity Co American Funds Growth Fnd Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,751
Ing Life Insurance and Annuity Co American Funds NW Prspctv Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,024
Ing Life Insurance and Annuity Co Columbia High Yield Bond Fund Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,522
Ing Life Insurance and Annuity Co Ing Intermediate Bond Fund Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $1,025
Ing Life Insurance and Annuity Co Ing Solution 2015 Portfolio Srv Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $1,347
Columbia Wanger Asset Management Columbia Mid Cap Value Fund A Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $1,754
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 $6,107
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 $12,023
Ing Financial Advisers Af Europacific Growth Fund Distribution (12b-1) fees 12B-1 Distribution Fees $1,745
Ing Financial Advisers American Funds Fundamental Invest Distribution (12b-1) fees 12B-1 Distribution Fees $3,431
Ing Financial Advisers Af New Perspective Fund C Distribution (12b-1) fees 12B-1 Distribution Fees $1,916
Ing Financial Advisers Af The Growth Fund of Americ Distribution (12b-1) fees 12B-1 Distribution Fees $3,141
Ing Financial Advisers Davis New York Venture Fd Distribution (12b-1) fees 12B-1 Distribution Fees $4,922
Ing Financial Advisers Ing Intermediate Bond Fd Distribution (12b-1) fees 12B-1 Distribution Fees $1,792
Ing Financial Advisers Oppenheimer Main St Small & Mid Cap Distribution (12b-1) fees 12B-1 Distribution Fees $2,621
Ing Life Insurance and Annuity Co. Davis New York Venture Fund Sub-transfer agency fees, Insurance mortality and expense charge Sub-Transfer/Reimbursement Fees Insurance Mortality and Expense Charge $2,202
Ing Life Insurance and Annuity Co. Ing Fixed Account Recordkeeping fees Record-Keeping Fees $11,687
Ing Life Insurance and Annuity Co. Ing Life Insurance and Annuity Co. Investment advisory (participants), Investment advisory (plan) Investment Advisory (Participants) Investment Advisory (Plan) $2,816
Ing Life Insurance and Annuity Co. Ing Solution Income Portfolio Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbusement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $3,660
Ing Life Insurance and Annuity Co. Ing Solution 2025 Portfolio Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbusement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $10,342
Ing Life Insurance and Annuity Co. Ing Solution 2035 Portfolio Sub-transfer agency fees, Account maintenance fees, Insurance mortality and expense charge Sub-Transfer/Reimbusement Fees Account Maintenance Fees Insurance Mortality and Expense Charge $6,604
Columbia Wanger Asset Management Columbia High Yield Bond Fund Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $3,940
Ing Mutual Funds Ing Blackrock Science & Tech Opp Investment management, Investment management fees paid indirectly by plan Investment Management Investment Management Fees $2,043
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 $4,246
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 $3,348
Ing Mutual Funds Ing Intn'L Small Cap Fund Investment management, Investment management fees paid indirectly by plan, Distribution (12b-1) fees Investment Management Investment Management Fees 12B-1 Distribution Fees $4,010
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 $5,096
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 $1,995
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 $16,633
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 $11,153
*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

Name Position Explanation
Sullivan and Company CPAS LLP Accountant Sullivan and Company CPAS LLP Merged Into Blum Shapiro & Co., P.C.

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 $9,513,083
Total $9,513,083

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Ing Life Insurance and Annuity Company 430
EIN 71-0294708
Industry Code 86509
Contract Number PH9466
Contract Year 01/01/2012 — 12/31/2012
Value in General Account at Year End $2,251,658
Value in Separate Accounts at Year End $9,513,083
Insurance Fees and Commissions $28,202
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 $18,480 $0
The Angell Pension Group, Inc. 88 Boyd Avenue East Providence, RI 02914 Third Party Administrator $0 $5,536 TPA ADMINISTRATOR ALLOWANCE
Morgan Stanley Smith Barney LLC Harborside Financial Center Jersey City, NJ 07311 Insurance Agent or Broker $4,186 $0
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 $2,045,062
Additions $351,201
Contributions Deposited during the year $154,141
Dividends and credits $0
Interest credited during the year $59,406
Transferred from separate account $34,918
Other $102,736
Total of Balance and Additions $2,396,263
Deductions $144,605
Disbursed from fund to pay benefits or purchase annuities during the year $118,296
Administration charge made by carrier $1,357
Transferred to Separate Account $0
Other $24,952
Balance at the end of the current year $2,251,658