Back to top
Home>401K Directory>Kanawha Scales Systems Inc 401k Profit Sharing Plan>Form 5500

Kanawha Scales & Systems, Inc.

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information
FORM 5500 DATA

Kanawha Scales & Systems, Inc. 401k Profit Sharing Plan

Form 5500 Year:

Plan Rating
OverviewFinancialsService ProvidersInvestmentsInsurance Information

Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan12/31/1976
  • Net Assets as of 12/31/2011 $8,690,766
  • 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) Participants166
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits62
  • Subtotal228
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total228
  • Total number of participants as of 01/01/2011230
  • Number of participants with account balances194
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested4

Expenses

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

Sponsor Information

  • AddressP.O.Box 569
  • CityPOCA
  • StateWV
  • Zip25159
  • Telephone(304) 755-8321
  • EIN55-0516017
  • Industry Code423800
  • Named AdministratorRobert W. Foy
  • Named Plan SponsorRobert W. Foy

Plan Administrator Information

  • Administrator NameKanawha Scales & Systems Inc.
  • AddressP.O.Box 569
  • CityPOCA
  • StateWV
  • Zip25159
  • Telephone(304) 755-8321
  • Administrator EIN55-0516017

Audit Information

  • Audit StatusAudited
  • AuditorArnett Foster Toothman PLLC
  • Auditor EIN55-0486667
  • 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 $300,000
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 $539,477
Contributions $756,848
Cash Contributions $756,848
Cash from Employers $148,459
Cash from Participants $605,693
Others (including rollovers) $2,696
Noncash Contributions $0
Total Earnings on Investments $-217,371
Total Interest $6,136
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,136
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 $-223,507
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 $0
Expenses $301,014
Total Benefit Payments $300,695
Directly to participants or beneficiaries, including direct rollovers $300,695
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 $319
Professional Fees $319
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $238,463
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 $8,690,766 $8,452,303 2.82%
Total noninterest-bearing cash $869 $5,542 -84.32%
Receivables $27,132 $0 0.0%
Employer Contributions $5,195 $0 0.0%
Participant Contributions $21,937 $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 $142,582 $127,152 12.14%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $8,520,183 $8,319,609 2.41%
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 $0 $0 0.0%
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 $8,690,766 $8,452,303 2.82%

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

There are no service providers listed for this plan.

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Jh Stable Value John Hancock USA DFE: Pooled Separate Account $2,142,963
Jh Lifestyle Balanced John Hancock USA DFE: Pooled Separate Account $1,017,477
Jh Lifestyle Growth John Hancock USA DFE: Pooled Separate Account $647,198
Jh Lifestyle Moderate John Hancock USA DFE: Pooled Separate Account $462,093
Jh Mutual Discovery John Hancock USA DFE: Pooled Separate Account $354,092
Jh Col Mid Value Fund John Hancock USA DFE: Pooled Separate Account $335,715
Jh Mutual Beacon John Hancock USA DFE: Pooled Separate Account $335,107
Jh Lifestyle Conservative John Hancock USA DFE: Pooled Separate Account $312,364
Jh Energy Fund John Hancock USA DFE: Pooled Separate Account $276,016
Index Small Fund John Hancock USA DFE: Pooled Separate Account $253,623
Jh Emerging Market Fund John Hancock USA DFE: Pooled Separate Account $190,927
Sm Opps Fund John Hancock USA DFE: Pooled Separate Account $180,273
Index Total Fund John Hancock USA DFE: Pooled Separate Account $178,329
Index Mid Fund John Hancock USA DFE: Pooled Separate Account $174,887
Jh Pimco Global Bond John Hancock USA DFE: Pooled Separate Account $162,076
Vs Utility Fund John Hancock USA DFE: Pooled Separate Account $160,335
Vs Rests Fund John Hancock USA DFE: Pooled Separate Account $150,592
Jh Lifestyle Aggressive John Hancock USA DFE: Pooled Separate Account $149,794
Jh Small Cap Growth Index John Hancock USA DFE: Pooled Separate Account $146,227
Growth Fund John Hancock USA DFE: Pooled Separate Account $137,107
Us Equity John Hancock USA DFE: Pooled Separate Account $119,216
Jh International Value Fund John Hancock USA DFE: Pooled Separate Account $117,938
Jh Europacific Fund John Hancock USA DFE: Pooled Separate Account $104,405
Vs Core Bond Fund John Hancock USA DFE: Pooled Separate Account $103,659
Vs Value Fund John Hancock USA DFE: Pooled Separate Account $40,296
Jh Small Cap Value Index John Hancock USA DFE: Pooled Separate Account $33,318
Jh Global Fund John Hancock USA DFE: Pooled Separate Account $28,258
Vs National Resources Fund John Hancock USA DFE: Pooled Separate Account $28,221
Index 500 Fund John Hancock USA DFE: Pooled Separate Account $26,655
Vs Cap App Fund John Hancock USA DFE: Pooled Separate Account $26,345
Trp Equity Inc John Hancock USA DFE: Pooled Separate Account $22,143
Vs Small Value Fund John Hancock USA DFE: Pooled Separate Account $20,400
Intl Equity Index Fund John Hancock USA DFE: Pooled Separate Account $18,051
Tot Bmkt Fund John Hancock USA DFE: Pooled Separate Account $13,503
Jh Value Index Fund John Hancock USA DFE: Pooled Separate Account $12,175
Vs International Opp Fund John Hancock USA DFE: Pooled Separate Account $10,158
Fid Adv Gold John Hancock USA DFE: Pooled Separate Account $10,027
Vs Sctec Fund John Hancock USA DFE: Pooled Separate Account $4,495
Vs Us High Yield Fund John Hancock USA DFE: Pooled Separate Account $3,601
Jh Growth Index Fund John Hancock USA DFE: Pooled Separate Account $3,178
Vs Smc Fund John Hancock USA DFE: Pooled Separate Account $2,650
Ssga Mcg John Hancock USA DFE: Pooled Separate Account $2,460
Vs Small Growth Fund John Hancock USA DFE: Pooled Separate Account $1,399
Ssga Mcv John Hancock USA DFE: Pooled Separate Account $436
Total $8,520,182

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company (U.S.A) 203
EIN 01-0233346
Industry Code 65838
Contract Number 68839
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $0
Value in Separate Accounts at Year End $8,663,634
Insurance Fees and Commissions $51,511
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Ja Investment Management 600B Prestige Park Dr, Suite 3 Hurricane, WV 25526 Investment Manager/Adviser $43,702 $0
Benefit Solutions, Inc. 5960 Us Route 60 Suite 1 Barboursville, WV 25504 Third Party Administrator $0 $7,768 TPA COMPENSATION
Benefit Solutions, Inc. 5960 Us Route 60 Suite 1 Barboursville, WV 25504 Third Party Administrator $0 $40 TPA IRA R/O PAYMENT
Vanguard Group P.O. Box 1110 Valley Forge, PA 19482 Investment Company/Mutual Fund $0 $1
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