Back to top

Overview

Plan Information

  • Plan Year01/01/2006 — 12/31/2006
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2006 $770,588
  • 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
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2006

  • Active (Eligible) Participants64
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits32
  • Subtotal96
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total96
  • Total number of participants as of 01/01/2006135
  • Number of participants with account balances96
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested20
  • Number of participants required to be reported on Schedule SSA76

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 13284
  • CityResearch Triangle Park
  • StateNC
  • Zip27709-3284
  • Telephone(919) 493-7933
  • EIN56-1531985
  • Industry Code722210
  • Named AdministratorErnest P. Willoughby
  • Named Plan SponsorErnest P. Willoughby

Plan Administrator Information

  • Administrator NamePpr Foods
  • AddressP.O. Box 13284
  • CityResearch Triangle Park
  • StateNC
  • Zip27709-3284
  • Telephone(919) 493-7933
  • Administrator EIN56-1531985

Audit Information

  • Audit StatusAudited
  • AuditorBassett & Associates, P.A.
  • Auditor EIN28-5606090
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
3B Self-Employed Plan Plan covering Self-Employed individuals.
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 $40,000
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

Financials

Income and Expense Statement

Income $154,401
Contributions $89,711
Cash Contributions $89,711
Cash from Employers $67,899
Cash from Participants $21,812
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $64,690
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
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 $64,690
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 $71,576
Total Benefit Payments $71,576
Directly to participants or beneficiaries, including direct rollovers $71,576
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 $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $82,825
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2006 12/31/2005 Change YOY
Total Assets $770,588 $687,763 12.04%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $88,004 $92,164 -4.51%
Employer Contributions $67,899 $74,164 -8.45%
Participant Contributions $20,105 $18,000 11.69%
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 $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $682,584 $595,599 14.60%
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 $770,588 $687,763 12.04%

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
Intl Value III Minnesota Life Insurance Company DFE: Pooled Separate Account $165,084
Mid-Cap Grow Eq III Minnesota Life Insurance Company DFE: Pooled Separate Account $152,256
Aggregate Bond Minnesota Life Insurance Company DFE: Pooled Separate Account $134,195
Large Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $73,369
Large Equity Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $65,683
Large Growth Eq V Minnesota Life Insurance Company DFE: Pooled Separate Account $54,674
Large Value Eq II Minnesota Life Insurance Company DFE: Pooled Separate Account $37,322
International Value Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $682,583

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 96
EIN 41-0417830
Industry Code 66168
Contract Number 74029
Contract Year 01/01/2006 — 12/31/2006
Value in General Account at Year End $0
Value in Separate Accounts at Year End $682,584
Insurance Fees and Commissions $4,666
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Donald W. Fry 333 N. Greene Street, Suite 403 Greensboro, NC 27401 Insurance Agent or Broker $3,080 $0
Joe L. White Jr P.O. Box 253 Lumberton, NC 28359 Insurance Agent or Broker $1,586 $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