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FORM 5500 DATA

National Distributing Company, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan07/01/1995
  • Net Assets as of 12/31/2008 $23,989,775
  • Plan Number4
  • Plan Type Multiple 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 12/31/2008

  • Active (Eligible) Participants695
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits222
  • Subtotal917
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total917
  • Total number of participants as of 01/01/20082,371
  • Number of participants with account balances0
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested71
  • Number of participants required to be reported on Schedule SSA20

Expenses

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

Sponsor Information

  • AddressOne National Drive, SW
  • CityAtlanta
  • StateGA
  • Zip30336-1631
  • Telephone(404) 696-9440
  • EIN58-0516238
  • Industry Code424800
  • Named AdministratorJohn A. Carlos
  • Named Plan SponsorJohn A. Carlos

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameRrb Accounting Consulting & Tax Service
  • Address4651 Roswell Rd, Suite I-804
  • City Atlanta
  • StateGA
  • Zip30342-0000000
  • Telephone(404) 255-0200
  • Preparer EIN58-2661579

Audit Information

  • Audit StatusAudited
  • AuditorRobinson Rabinowitz & Bernstein Pc
  • Auditor EIN58-1407872
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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

Financials

Income and Expense Statement

Income $-6,119,931
Contributions $3,774,054
Cash Contributions $3,774,054
Cash from Employers $963,829
Cash from Participants $2,553,930
Others (including rollovers) $256,295
Noncash Contributions $0
Total Earnings on Investments $-9,893,985
Total Interest $273,299
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $70,168
Interest from Other Investments $203,131
Total Dividends $4,397
Preferred Stock $0
Common Stock $4,397
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 $-10,171,681
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 $5,618,707
Total Benefit Payments $5,618,707
Directly to participants or beneficiaries, including direct rollovers $5,618,707
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 $-11,738,638
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $91,628,010

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $23,989,775 $127,356,423 -81.16%
Total noninterest-bearing cash $0 $0 0.0%
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 $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 $935,125 $4,312,638 -78.32%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $23,054,650 $123,043,785 -81.26%
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 $23,989,775 $127,356,423 -81.16%

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
Ret Goal 2020 Fund Prudential Retirement Ins DFE: Pooled Separate Account $3,653,698
Lcv/Barrow Hanley Kljnd Prudentiat. Retirkment Ins. DFE: 103-12 Investment Entity $2,419,191
Dryden S&P 500 Index Bund Prudentiat. Retirement Ins. DFE: Pooled Separate Account $1,853,312
Intern Blend/Artio Prudential Retirement Ins DFE: Pooled Separate Account $1,586,434
T-Plrge Cap Growth/Turner Investm Prudentiat. Retirewnt Ins. DFE: 103-12 Investment Entity $1,439,920
Mid Cap Growth/Artisan Prudential Retirement Ins DFE: Pooled Separate Account $1,267,385
Ret Goal 2030 Fund Prudential Retirement Ins DFE: Pooled Separate Account $1,159,696
Ret Goal 2010 Fund Prudential Retirement Ins DFE: Pooled Separate Account $869,664
Core Bond Enhan Index Prudential Retirement Ins. DFE: Pooled Separate Account $836,189
Wells Fargo Adv Sm Cap Z Prudential Retirement Ins DFE: Pooled Separate Account $696,495
Ret Goal 2040 Fund Prudential Retirement Ins DFE: Pooled Separate Account $655,568
Small Cap Growth/Timessq Prudential Retirement Ins DFE: Pooled Separate Account $531,287
Gold Sachs Mid Cap Val A Goldman Sachs Funds DFE: Pooled Separate Account $356,150
Ret Goal Income Fund Prudential Retirement Ins DFE: Pooled Separate Account $133,739
Retirement Goal 2050 Fd Prudential Retirement Ins DFE: Pooled Separate Account $99,833
T-Krge Cap Blend/Victory T'Ljnd Prudentiat. Retirement Ins. Multiple Employer $86,656
Hi Yield Bond/Caywood-Scholl Prudential Retirement Ins DFE: Pooled Separate Account $45,099
Total $17,690,316

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance & Annuity Co. 0
EIN 06-1050034
Industry Code 93629
Contract Number 037071
Contract Year 01/01/2008 — 12/31/2008
Value in General Account at Year End $5,364,334
Value in Separate Accounts at Year End $17,334,166
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
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 $24,309,363
Contributions Deposited during the year $564,840
Dividends and credits $0
Interest credited during the year $203,131
Transferred from separate account $23,346,997
Other $194,395
Total of Balance and Additions $24,309,363
Deductions $18,945,029
Disbursed from fund to pay benefits or purchase annuities during the year $18,234,039
Administration charge made by carrier $0
Transferred to Separate Account $524,274
Other $186,716
Balance at the end of the current year $5,364,334