Back to top

Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan01/01/1990
  • Net Assets as of 12/31/2008 $1,033,437
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2008

  • Active (Eligible) Participants62
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits2
  • Subtotal64
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total64
  • Total number of participants as of 01/01/200868
  • Number of participants with account balances30
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested30
  • Number of participants required to be reported on Schedule SSA0

Expenses

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

Sponsor Information

  • AddressPo Box 23030
  • CityCharlotte
  • StateNC
  • Zip28227-0272
  • Telephone(704) 567-9548
  • EIN56-1345793
  • Industry Code238900
  • Named AdministratorJean Martinson
  • Named Plan SponsorJean Martinson

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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 $100,000
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 at any time hold 20% or more of its assets in any single security, debt, mortgage, parcel of real estate, or partnership/joint venture interest? No $0
Are you claiming a waiver of the annual examination and report of an independent qualified public accountant (IQPA) under 29 CFR 2520.104-46? Yes
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No

Financials

Income and Expense Statement

Income $-71,897
Contributions $0
Cash Contributions $221,351
Cash from Employers $48,976
Cash from Participants $156,113
Others (including rollovers) $16,262
Noncash Contributions $0
Other Income $-293,248
Expenses $40,766
Total Benefit Payments $32,232
Corrective Distributions $6,945
Certain deemed distributions of participant loans $0
Other Expenses $1,589
Net Income $-112,663
Transfers of Assets to (from) this Plan $0

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $1,033,437 $1,146,100 -9.83%
Total Liabilities $0 $0 0.0%
Net Assets $1,033,437 $1,146,100 -9.83%

Specific Assets Statement

Held? Amount
Total Specific Assets No $40,088
Partnership/joint venture interests Yes $0
Employer Real Property Yes $0
Real Estate Yes $0
Employer Securities Yes $0
Participant Loans No $40,088
Loans (other than to participants) Yes $0
Tangible Personal Property Yes $0

Service Providers

Service Providers

There are no service providers listed for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Principal Money Mkt Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $123,078
Principal Bond and Mtg Sep Acc Principal Life Insurance Company DFE: Pooled Separate Account $115,887
Principal U.S. Property Sepact Principal Life Insurance Company DFE: Pooled Separate Account $79,478
Prin Disc Lgcap Blend Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $78,685
Principal Divers Intl Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $77,469
Prin Midcap Value III Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $57,276
Prin Lgcp S&P 500 Idx Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $57,204
Principal Govt&Hqbnd Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $53,792
Prin Smallcap Blend Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $52,139
Prin Midcap Blend Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $51,245
Principal Lifetm 2010 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $23,553
Principal Bd Emph Bal Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $17,945
Principal Midcap Growth III Sa Principal Life Insurance Company DFE: Pooled Separate Account $17,681
Prin Lgcap Growth II Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $12,348
Principal Lifetm 2020 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $10,093
Principal Lifetm 2050 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $5,504
Prin Stock Emph Bal Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $4,707
Principal Lifetm 2030 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $2,205
Principal Intl Growth Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $997
Prin Largecap Value I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $931
Principal Intl Em Mkt Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $777
Prin Fin Grp Inc. Stk Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $576
Principal Smcap Value Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $514
Principal Lifetm 2040 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $423
Prin Smcap Growth III Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $126
Prin Smallcap Value I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $85
Prin Largecap Blend I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Midcap Growth I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $844,718

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 64
EIN 42-0127290
Industry Code 61271
Contract Number 4-40349
Contract Year 01/01/2008 — 12/31/2008
Value in General Account at Year End $148,633
Value in Separate Accounts at Year End $844,716
Insurance Fees and Commissions $3,522
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Bill Harper 11401 Innes Ct Charlotte, NC 28277 -1588 Insurance Agent or Broker $3,507 $15 SERVICE FEE
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
Balance at the end of the previous year $92,478
Additions $61,097
Contributions Deposited during the year $29,189
Dividends and credits $0
Interest credited during the year $4,276
Transferred from separate account $17,820
Other $9,812
Total of Balance and Additions $153,575
Deductions $4,942
Disbursed from fund to pay benefits or purchase annuities during the year $37
Administration charge made by carrier $60
Transferred to Separate Account $2,591
Other $2,254
Balance at the end of the current year $148,633