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FORM 5500 DATA

NATCO PRODUCTS CORPORATION 401k PLAN

Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2015 $14,968,898
  • 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 12/31/2015

  • Active (Eligible) Participants223
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits110
  • Subtotal333
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total333
  • Total number of participants as of 01/01/2015443
  • Number of participants with account balances318
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested24

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

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 $1,094,737
Contributions $1,116,823
Cash Contributions $1,116,823
Cash from Employers $434,506
Cash from Participants $636,692
Others (including rollovers) $45,625
Noncash Contributions $0
Total Earnings on Investments $-22,086
Total Interest $76,042
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $7,865
Interest from Other Investments $68,177
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 $-123,065
Real Estate $0
Other $-123,065
Net investment gain (loss) from common/collective trusts $0
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 $24,937
Other Income $0
Expenses $1,293,588
Total Benefit Payments $1,279,817
Directly to participants or beneficiaries, including direct rollovers $1,279,817
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 $13,771
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $13,771
Net Income $-198,851
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $14,975,083 $15,167,749 -1.27%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $435,724 $392,052 11.14%
Employer Contributions $435,724 $392,052 11.14%
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 $201,285 $178,522 12.75%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $12,072,378 $12,225,285 -1.25%
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 $2,265,696 $2,371,890 -4.48%
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 $6,185 $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) $6,185 $0 0.0%
Net Assets $14,968,898 $15,167,749 -1.31%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Retirement Ins. and Annuity Co

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
Morningstar Investment advisory (plan) Service Provider $0 $7,700 $7,700
Voya Retirement Ins. and Annuity Co Investment advisory (plan) Service Provider $0 $7,700 $7,700
Total $0 $15,400 $15,400

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Voya Retirement Ins and Annuity Co Voya Retirement Ins and Annuity Co Investment advisory (plan) Investment Advisory (Plan) $7,700
Morningstar Voya Retirement Ins and Annuity Co Investment advisory (plan) Investment Advisory (Plan) $7,700
*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 $12,072,378
Total $12,072,378

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Voya Retirement Insurance and Annuity Co 318
EIN 71-0294708
Industry Code 86509
Contract Number PH9466
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $2,265,696
Value in Separate Accounts at Year End $12,072,378
Insurance Fees and Commissions $38,497
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Merrill Lynch Life Agency, Inc. 4802 Deer Lake Dr E Fl 5 Jacksonville, FL 32246 Insurance Agent or Broker $17,814 $0
Morgan Stanley Smith Barney LLC 1 New York Plaza Fl 12 New York, NY 10004 Insurance Agent or Broker $13,006 $0
The Angell Pension Group, Inc. 88 Boyd Avenue East Providence, RI 02914 Third Party Administrator $0 $7,677 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 $2,371,890
Additions $466,829
Contributions Deposited during the year $258,903
Dividends and credits $0
Interest credited during the year $68,177
Transferred from separate account $80,149
Other $59,600
Total of Balance and Additions $2,838,719
Deductions $573,023
Disbursed from fund to pay benefits or purchase annuities during the year $342,879
Administration charge made by carrier $7,199
Transferred to Separate Account $0
Other $222,945
Balance at the end of the current year $2,265,696