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FORM 5500 DATA

Wake Emergency Physicians 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/16/1997
  • Net Assets as of 12/31/2018 $71,814,574
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants170
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits46
  • Subtotal216
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total216
  • Total number of participants as of 01/01/2018215
  • Number of participants with account balances215
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address210 Towne Village Drive
  • CityCARY
  • StateNC
  • Zip27513
  • Telephone(919) 859-3373
  • EIN56-1763695
  • Industry Code621111
  • Named AdministratorAllen Smith

Audit Information

  • Audit StatusAudited
  • AuditorSharrard Mcgee
  • Auditor EIN56-1146197
  • 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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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 $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 $1,292,214
Contributions $6,587,889
Cash Contributions $6,587,889
Cash from Employers $3,693,431
Cash from Participants $2,417,164
Others (including rollovers) $477,294
Noncash Contributions $0
Total Earnings on Investments $-5,295,675
Total Interest $46,420
Interest-Bearing Cash $35,114
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $11,306
Interest from Other Investments $0
Total Dividends $3,642,992
Preferred Stock $0
Common Stock $86,813
Rents $0
Net gain (loss) on sale of assets $1,199
Aggregate Proceeds $13,558,861
Aggregate Carrying Amount $13,557,662
Total Unrealized Appreciation (depreciation) of assets $-800,930
Real Estate $0
Other $-800,930
Net investment gain (loss) from common/collective trusts $33,661
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 $-8,219,017
Other Income $0
Expenses $3,972,042
Total Benefit Payments $3,961,731
Directly to participants or beneficiaries, including direct rollovers $3,961,731
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $3,106
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $7,205
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $7,205
Net Income $-2,679,828
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $71,814,574 $74,494,402 -3.60%
Total noninterest-bearing cash $614 $2,483 -75.27%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $1,693,542 $2,149,853 -21.23%
Interest-bearing cash $1,693,542 $2,149,853 -21.23%
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 $5,735,506 $5,563,650 3.09%
Preferred $0 $0 0.0%
Common $5,735,506 $5,563,650 3.09%
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 $303,568 $162,647 86.64%
Value of interest in common/collective trusts $1,835,116 $1,659,264 10.60%
Value of interest in pooled separate accounts $0 $0 0.0%
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 $62,214,812 $64,955,845 -4.22%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $31,416 $660 4660.00%
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 $71,814,574 $74,494,402 -3.60%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

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
Fidelity Investments Institutional Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $32,807 $0 $32,807
Total $32,807 $0 $32,807

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Baird Core Plus Inst - Us Bancorp Sub-transfer agency fees 0.02% $0
Fidelity Investments Institutional Harbor Cap App Inst - Harbor Servi Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Jpm Midcap Value L - Dst Asset Man Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Morley Stable Value Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Wm Blair Sm Cp Gr I - Dst Asset Ma Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Columbia Acorn Class I Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Loomis Sayles Bond Retail Shares Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Harbor Intl Inv Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Neuberger Berman Genesis Investor Sub-transfer agency fees $16.00 $0
Fidelity Investments Institutional Virtus Kar Small Cap Growth Fund C Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Allianzgi Technology Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Evermore Global Value Fd Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional First Eagle Gold Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Harding Loevner Emerg Mrkts Port A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oakmark Equity & Income Investor C Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Matthews Asian Growth & Income Fun Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Metropolitan West Tot Return Bond Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Primecap Odyssey Growth Fund Sub-transfer agency fees 0.08% $0
Fidelity Investments Institutional Royce Special Equityinvestment Cl Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional First Eagle Global Class A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Janus Henderson Growth & Income T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Pimco Income Fund Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional American Century Equity Growth Inv Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Lazard Intl Small Cap Equity Open Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Matthews Emerging Asia Fund Invest Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Primecap Odyssey Sto Ck Fund Sub-transfer agency fees 0.08% $0
Fidelity Investments Institutional Schwab Core Equity Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Teton Westwood Balanced Fd Cl Aaa Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amg Managers Brandywine Fd Cl I Sub-transfer agency fees 0.07% $0
Fidelity Investments Institutional Oakmark Intl Investor Cl Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional State Street Intl Stock Selection Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Selected American Shares Cl D Sub-transfer agency fees $16.00 $0
Fidelity Investments Institutional Oppenheimersteelpathmlp Select 40 Sub-transfer agency fees $16.50 $0
Fidelity Investments Institutional Wells Fargo Absolutereturn Fund Cl Sub-transfer agency fees 0.40% $0
*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
Morley Stable Value Union Bond & Trust Company DFE: Common/Collective Trust $1,835,116
Total $1,835,116

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.