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FORM 5500 DATA

Load King Manufacturing Co., Inc. Section 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan04/01/1991
  • Net Assets as of 12/31/2019 $6,016,257
  • 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) Participants178
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits15
  • Subtotal193
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total193
  • Total number of participants as of 01/01/2019207
  • Number of participants with account balances137
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested8

Expenses

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

Sponsor Information

  • Address1357 W Beaver St
  • CityJacksonville
  • StateFL
  • Zip32209-7632
  • Telephone(904) 633-6950
  • EIN59-1443188
  • Industry Code332900
  • Named AdministratorAllison Hutcheson
  • Named Plan SponsorAllison Hutcheson

Audit Information

  • Audit StatusAudited
  • AuditorEnnis Pellum & Associates
  • Auditor EIN59-1843700
  • 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.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

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 $1,831,477
Contributions $855,998
Cash Contributions $855,998
Cash from Employers $208,872
Cash from Participants $575,800
Others (including rollovers) $71,326
Noncash Contributions $0
Total Earnings on Investments $975,479
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 $26,332
Net investment gain (loss) from pooled separate accounts $949,147
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 $244,533
Total Benefit Payments $232,330
Directly to participants or beneficiaries, including direct rollovers $232,299
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $31
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $12,203
Professional Fees $0
Contract Administrator Fees $12,203
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $1,586,944
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 $6,016,257 $4,429,313 35.83%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $208,872 $165,718 26.04%
Employer Contributions $208,872 $165,718 26.04%
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 $0 $0 0.0%
Value of interest in common/collective trusts $646,441 $563,635 14.69%
Value of interest in pooled separate accounts $5,160,944 $3,699,960 39.49%
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 $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 $6,016,257 $4,429,313 35.83%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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
Principal Life Insurance Company Contract Administrator, Direct payment from the plan, Recordkeeping fees Contract Administrator $12,203 $0 $12,203
Northwestern Mutual Investment Serv Other services, Other commissions Other Services $0 $1,495 $1,495
Total $12,203 $1,495 $13,698

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Northwestern Mutual Investment Serv Principal Life Insurance Company Other services, Other commissions Commissions $1,495
*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
Prin Lifetm 2040 Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $793,244
Prin Sam Bal Sep Acct - Sig Principal Life Insurance Company DFE: Pooled Separate Account $693,997
Prin Largecap Growth I Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $663,111
Principal Stable Value Sgnture Principal Global Investors Trust Co DFE: Common/Collective Trust $646,441
Prin Sam Cons Gr Sa - Sig Principal Life Insurance Company DFE: Pooled Separate Account $635,715
Prin Lifetm 2030 Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $502,210
Prin Lifetm 2020 Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $485,098
Prin Lifetm 2050 Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $394,758
Prin Lgcap S&P 500 Idx Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $232,950
Prin Lifetm 2060 Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $94,009
Prin Midcap S&P 400 Idx Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $92,017
Prin Sam Strat Gr Sa - Sig Principal Life Insurance Company DFE: Pooled Separate Account $90,060
Prin Midcap Value I Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $82,016
Prin Smcap S&P 600 Idx Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $77,637
Prin Sam Cons Bal Sa - Sig Principal Life Insurance Company DFE: Pooled Separate Account $52,737
Prin Smallcap Growth I Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $47,391
Prin Intl Em Mkt Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $41,683
Prin Real Estate Secs Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $38,190
Prin Smallcap Value II Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $33,753
Principal Bond Mkt Idx Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $32,031
Prin Largecap Value III Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $21,920
Prin Midcap Growth III Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $17,950
Prin Intl I Separate Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $11,815
Core Plus Bond Sep Acct-Sig Principal Life Insurance Company DFE: Pooled Separate Account $9,613
Prin U.S. Property Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $8,747
Prin Sam Flex Inc Sa - Sig Principal Life Insurance Company DFE: Pooled Separate Account $4,789
Prin Lifetm Str Income Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $2,303
Principal Div Real Asst Sa-Sig Principal Life Insurance Company DFE: Pooled Separate Account $1,200
Total $5,807,385

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 193
EIN 42-0127290
Industry Code 61271
Contract Number 706445
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $5,160,944
Insurance Fees and Commissions $10,810
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Northwestern Mutual Investment Serv Attn Ips Compensation Milwaukee, WI 53202 Insurance Agent or Broker $10,810 $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