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FORM 5500 DATA

Southeastern Construction & Maintenance, Inc 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan08/04/1997
  • Net Assets as of 12/31/2019 $6,588,199
  • Plan Number2
  • 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 12/31/2019

  • Active (Eligible) Participants245
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits27
  • Subtotal272
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total272
  • Total number of participants as of 01/01/2019251
  • Number of participants with account balances134
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2

Expenses

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

Sponsor Information

  • Address1150 Pebbledale Rd
  • CityMulberry
  • StateFL
  • Zip33860
  • Telephone(863) 698-5721
  • EIN59-1381065
  • Industry Code332300
  • Named AdministratorStephen Howell

Audit Information

  • Audit StatusAudited
  • AuditorWall Titus, LLC
  • Auditor EIN59-3613234
  • 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 $500,000
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 $1,636,118
Contributions $432,791
Cash Contributions $432,791
Cash from Employers $54,917
Cash from Participants $357,261
Others (including rollovers) $20,613
Noncash Contributions $0
Total Earnings on Investments $1,203,327
Total Interest $6,112
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,439
Interest from Other Investments $1,673
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 $1,197,215
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 $360,188
Total Benefit Payments $343,722
Directly to participants or beneficiaries, including direct rollovers $343,722
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 $16,466
Professional Fees $0
Contract Administrator Fees $15,267
Investment Advisory and management fees $1,199
Other Administrative Fees $0
Net Income $1,275,930
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $6,588,199 $5,312,269 24.02%
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 $79,347 $47,403 67.39%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $6,314,562 $5,113,314 23.49%
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 $194,290 $151,552 28.20%
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 $6,588,199 $5,312,269 24.02%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Life Ins 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
Transamerica Life Ins Co Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees NONE $12,402 $0 $12,402
Florida Retirement Consultants Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees NONE $2,865 $0 $2,865
Total $15,267 $0 $15,267

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

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
Transamerica Partners Stock Index R Transamerica Life Insurance Company DFE: Pooled Separate Account $786,947
Western Asset Core Plus Bond Ret Op Transamerica Life Insurance Company DFE: Pooled Separate Account $491,243
American Funds Growth Fund of Ameri Transamerica Life Insurance Company DFE: Pooled Separate Account $441,852
Pioneer Strategic Income Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $440,686
Hartford International Opportunitie Transamerica Life Insurance Company DFE: Pooled Separate Account $420,630
Virtus Ceredex Large-Cap Value Equi Transamerica Life Insurance Company DFE: Pooled Separate Account $414,036
Invesco Oppenheimer International D Transamerica Life Insurance Company DFE: Pooled Separate Account $412,594
Columbia Dividend Income Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $396,235
Janus Forty Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $348,754
Templeton Global Bond Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $280,856
American Funds New World Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $238,546
Virtus Ceredex Mid-Cap Value Equity Transamerica Life Insurance Company DFE: Pooled Separate Account $232,187
Hartford Small Cap Growth Hls Ret O Transamerica Life Insurance Company DFE: Pooled Separate Account $213,396
American Century Government Bond Re Transamerica Life Insurance Company DFE: Pooled Separate Account $187,503
Dfa Inflation-Protected Securities Transamerica Life Insurance Company DFE: Pooled Separate Account $182,237
Ta Vanguard Small-Cap Index Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $181,927
State Street S&P Mid Cap Index Ret Transamerica Life Insurance Company DFE: Pooled Separate Account $175,590
Franklin Small Cap Value Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $175,556
Franklin Small-Mid Cap Growth Ret O Transamerica Life Insurance Company DFE: Pooled Separate Account $161,451
Ta Vanguard Real Estate Index Ret O Transamerica Life Insurance Company DFE: Pooled Separate Account $125,141
Franklin Utilities Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $7,194
Janus Henderson Balanced Ret Opt Transamerica Life Insurance Company DFE: Pooled Separate Account $0
Total $6,314,561

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Life Insurance Co 134
EIN 39-0989781
Industry Code 86231
Contract Number 805554
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $194,290
Value in Separate Accounts at Year End $6,314,562
Insurance Fees and Commissions $27,362
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Allen & Company of Fl 1401 S Florida Ave Lakeland, FL 33803 Insurance Agent or Broker $23,774 $0
Florida Retirement Consultants 5503 W Waters Ave Ste 500 Tampa, FL 33634 Third Party Administrator $0 $3,588 ADMIN 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 STABLE VALUE OPTION
Balance at the end of the previous year $151,552
Additions $69,407
Contributions Deposited during the year $10,943
Dividends and credits $0
Interest credited during the year $1,673
Transferred from separate account $56,135
Other $656
Total of Balance and Additions $220,959
Deductions $26,669
Disbursed from fund to pay benefits or purchase annuities during the year $18,900
Administration charge made by carrier $375
Transferred to Separate Account $5,466
Other $1,928
Balance at the end of the current year $194,290