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FORM 5500 DATA

Odawa Casino Resort 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/2013
  • Net Assets as of 12/31/2017 $10,182,480
  • 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 Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants475
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits36
  • Subtotal513
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total513
  • Total number of participants as of 01/01/2017503
  • Number of participants with account balances412
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested9

Expenses

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

Sponsor Information

  • Address1760 Lears Road
  • CityPetoskey
  • StateMI
  • Zip49770
  • Telephone(231) 439-5380
  • EIN38-3376548
  • Industry Code713200
  • Named AdministratorKatie Eberly

Audit Information

  • Audit StatusAudited
  • AuditorBdo USA, LLP
  • Auditor EIN13-5381590
  • 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.
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
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? Yes
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? Yes

Financials

Income and Expense Statement

Income $2,528,622
Contributions $1,012,636
Cash Contributions $1,012,636
Cash from Employers $329,448
Cash from Participants $656,352
Others (including rollovers) $26,836
Noncash Contributions $0
Total Earnings on Investments $1,515,986
Total Interest $53,296
Interest-Bearing Cash $24,925
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $28,371
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 $1,462,690
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 $1,132,739
Total Benefit Payments $990,550
Directly to participants or beneficiaries, including direct rollovers $990,550
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $207
Interest expense $0
Total Administrative Expenses $141,982
Professional Fees $0
Contract Administrator Fees $141,982
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $1,395,883
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $10,182,480 $8,786,597 15.89%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $20,943 $8 261687.50%
Employer Contributions $7,176 $0 0.0%
Participant Contributions $13,767 $8 171987.50%
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 $667,472 $633,009 5.44%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $7,620,174 -100.00%
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 $8,533,621 $0 0.0%
Value of funds held in insurance co. general account $960,444 $533,406 80.06%
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 $10,182,480 $8,786,597 15.89%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Retirement Ins & Annuity Co

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
Fsc Securities Corporation Investment advisory (plan) Investment Advisor $103,000 $0 $103,000
Massachusetts Mutual Life Insurance Investment management fees paid indirectly by plan, Recordkeeping fees, Other investment fees and expenses Contract Administrator $14,942 $0 $14,942
Benefit Administration, Inc. Contract Administrator Third Party Administrato $0 $11,925 $11,925
Voya Retirement Insurance & Annuity Investment advisory (participants), Investment advisory (plan) Service Provider $0 $3,671 $3,671
Envestnet Retirement Solutions, LLC Investment advisory (participants), Investment management Investment Manager $930 $0 $930
Total $118,872 $15,596 $134,468

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Voya Retirement Insurance & Annuity Voya Retirement Insurance & Annuity Investment advisory (plan) Investment Advisory (Plan) $3,671
Benefit Administration, Inc. Massachusetts Mutuall Life Insuranc Contract Administrator Expense Reimbursement To Third Party $17,925
*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
Contracts - Various Investments Voya Retirement Insurance and Annuity Company DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 564
EIN 04-1590850
Industry Code 65935
Contract Number MR62714-1
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $0
Additions $968,805
Contributions Deposited during the year $19,107
Dividends and credits $0
Interest credited during the year $3,043
Transferred from separate account $930,889
Other $15,766
Total of Balance and Additions $968,805
Deductions $8,363
Disbursed from fund to pay benefits or purchase annuities during the year $4,840
Administration charge made by carrier $1,573
Transferred to Separate Account $0
Other $1,950
Balance at the end of the current year $960,442
Voya Retirement Insurance and Annuity Company 0
EIN 71-0294708
Industry Code 86509
Contract Number 872242
Contract Year 01/01/2017 — 10/12/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $6,228
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Fsc Agency Inc 2300 Windy Ridge Pkwy SE Atlanta, GA 30339 Investment Manager/Adviser $5,507 $0
Ppg Retirement Plan Services Ltd 5525 Green Bay Road Kenosha, WI 53144 -3737 Third Party Administrator $0 $721 TPA FEES
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 GENERAL ACCOUNTS
Balance at the end of the previous year $0
Additions $602,421
Contributions Deposited during the year $20,410
Dividends and credits $0
Interest credited during the year $18,746
Transferred from separate account $0
Other $563,265
Total of Balance and Additions $602,421
Deductions $602,421
Disbursed from fund to pay benefits or purchase annuities during the year $20,791
Administration charge made by carrier $634
Transferred to Separate Account $577,916
Other $3,080
Balance at the end of the current year $0