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FORM 5500 DATA

Johnson, Mirmiran and Thompson, Inc. Employee Stock Ownership and 401k Retirement Savings Plan and Trust

Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan12/01/1974
  • Net Assets as of 12/31/2015 $149,500,719
  • 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 12/31/2015

  • Active (Eligible) Participants1,321
  • Retired or separated participants receiving benefits91
  • Other retired or separated participants entitled to future benefits425
  • Subtotal1,837
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits6
  • Total1,843
  • Total number of participants as of 01/01/20151,623
  • Number of participants with account balances1,736
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested60

Expenses

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

Sponsor Information

  • Address72 Loveton Circle
  • CitySparks
  • StateMD
  • Zip21152
  • Telephone(410) 316-2421
  • EIN52-0963531
  • Industry Code541330
  • Named AdministratorMichael Kolar
  • Named Plan SponsorMichael Kolar

Audit Information

  • Audit StatusAudited
  • AuditorClifton Larson Allen
  • Auditor EIN41-0746749
  • Audit OpinionUnqualified
  • Audit Type Full 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.
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.
2I Stock bonus A stock bonus plan is a type of profit-sharing by which a corporation uses its own stock to make contributions and distributions.
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.
2P Leveraged ESOP An Employee Stock Ownership Plan (ESOP) that acquires employer securities with borrowed money or other debt-financing techniques.
2Q S Corporation ESOP The employer maintaining this Employee Stock Ownership Plan (ESOP) is an S Corporation.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
3I Employer Securities Limitations Plan requiring that all or part of employer contributions be invested and held, at least for a limited period, in employer securities.

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 $1,000,000
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 $16,317,251
Contributions $12,130,778
Cash Contributions $12,130,778
Cash from Employers $4,410,000
Cash from Participants $6,088,030
Others (including rollovers) $1,632,748
Noncash Contributions $0
Total Earnings on Investments $4,031,498
Total Interest $43,544
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $43,544
Interest from Other Investments $0
Total Dividends $567,402
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 $3,597,804
Real Estate $0
Other $3,597,804
Net investment gain (loss) from common/collective trusts $-92,300
Net investment gain (loss) from pooled separate accounts $-45,233
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 $-39,719
Other Income $154,975
Expenses $4,866,912
Total Benefit Payments $4,566,913
Directly to participants or beneficiaries, including direct rollovers $4,566,883
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $30
Corrective Distributions $56,851
Certain deemed distributions of participant loans $0
Interest expense $226,802
Total Administrative Expenses $16,346
Professional Fees $0
Contract Administrator Fees $16,346
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $11,450,339
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 $161,834,052 $149,512,429 8.24%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,871,045 $827,826 126.02%
Employer Contributions $1,871,045 $827,826 126.02%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $4,028 $4,028 0.00%
Interest-bearing cash $4,028 $4,028 0.00%
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 $1,001,920 $958,338 4.55%
Value of interest in common/collective trusts $11,649,143 $7,444,954 56.47%
Value of interest in pooled separate accounts $11,057,211 $10,891,657 1.52%
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 $51,848,981 $48,581,705 6.73%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $84,401,724 $80,803,921 4.45%
Employer Securities $84,401,724 $80,803,921 4.45%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $12,333,333 $13,500,000 -8.64%
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) $12,333,333 $13,500,000 -8.64%
Net Assets $149,500,719 $136,012,429 9.92%

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
S B H U Life Agency Inc Other services, Other commissions, Other fees Other Services $0 $119,239 $119,239
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $16,346 $0 $16,346
Total $16,346 $119,239 $135,585

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
S B H U Life Agency Inc Principal Life Insurance Company Other services, Other commissions, Other fees Commissions and Referral/Service Fee $119,239
*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
Mister, Burton & French, P.C. Accountant To Move To A National Firm, With More Industry Experience.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Prin Sam Balanced Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $6,676,486
Prin Total Mkt Stock Idx Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $4,380,725
Principal Stable Value Fund Union Bond & Trust Company DFE: Common/Collective Trust $4,003,598
Prin Trust Tgt 2035 Fd R6 Principal Trust Company DFE: Common/Collective Trust $1,567,350
Prin Trust Tgt 2025 Fd R6 Principal Trust Company DFE: Common/Collective Trust $1,324,021
Prin Trust Tgt 2030 Fd R6 Principal Trust Company DFE: Common/Collective Trust $1,134,166
Prin Trust Tgt 2045 Fd R6 Principal Trust Company DFE: Common/Collective Trust $829,020
Prin Trust Tgt 2050 Fd R6 Principal Trust Company DFE: Common/Collective Trust $786,924
Prin Trust Tgt 2040 Fd R6 Principal Trust Company DFE: Common/Collective Trust $770,198
Prin Trust Tgt 2020 Fd R6 Principal Trust Company DFE: Common/Collective Trust $645,292
Prin Trust Tgt 2055 Fd R6 Principal Trust Company DFE: Common/Collective Trust $254,853
Prin Trust Tgt 2010 Fd R6 Principal Trust Company DFE: Common/Collective Trust $222,670
Prin Trust Tgt 2015 Fd R6 Principal Trust Company DFE: Common/Collective Trust $55,113
Prin Trust Tgt 2060 Fd R6 Principal Trust Company DFE: Common/Collective Trust $40,639
Prin Trust Income Fund R6 Principal Trust Company DFE: Common/Collective Trust $15,299
Total $22,706,354

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 1,733
EIN 42-0127290
Industry Code 61271
Contract Number 806291
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $0
Value in Separate Accounts at Year End $11,057,211
Insurance Fees and Commissions $22,137
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
S B H U Life Agency Inc 1 New York Plz Fl 12 New York, NY 10004 -1901 Insurance Agent or Broker $22,137 $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 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