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IAP Worldwide Services Retirement Savings Plan


Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan01/01/1982
  • Net Assets as of 12/31/2008 $110,127,376
  • Plan Number4
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • 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) Participants3,878
  • Retired or separated participants receiving benefits58
  • Other retired or separated participants entitled to future benefits2,279
  • Subtotal6,215
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits15
  • Total6,230
  • Total number of participants as of 01/01/20086,426
  • Number of participants with account balances4,220
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested39
  • Number of participants required to be reported on Schedule SSA559


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

Sponsor Information

  • Telephone(321) 784-7149
  • EIN59-1575859
  • Industry Code561210
  • Named AdministratorTanya N. Miller
  • Named Plan SponsorTanya N. Miller

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Audit Information

  • Audit StatusAudited
  • AuditorSmith & Howard, P.C.
  • Auditor EIN58-1250486
  • 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.

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 $10,000,000
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


Income and Expense Statement

Income $-16,626,842
Contributions $16,839,045
Cash Contributions $16,839,045
Cash from Employers $6,732,759
Cash from Participants $9,159,533
Others (including rollovers) $946,753
Noncash Contributions $0
Total Earnings on Investments $-33,465,887
Total Interest $1,662,862
Interest-Bearing Cash $370,023
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $200,846
Interest from Other Investments $1,091,993
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 $-5,412,581
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 $-29,716,168
Other Income $0
Expenses $25,566,865
Total Benefit Payments $25,519,937
Directly to participants or beneficiaries, including direct rollovers $25,519,937
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $963
Certain deemed distributions of participant loans $1,150
Interest expense $0
Total Administrative Expenses $44,815
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $11,639
Other Administrative Fees $33,176
Net Income $-42,193,707
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $110,282,579 $152,324,215 -27.60%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $110,640 $198 55778.79%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $110,640 $198 55778.79%
General Investments $15,049,050 $15,057,689 -0.06%
Interest-bearing cash $15,049,050 $15,057,689 -0.06%
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 $2,869,571 $2,949,366 -2.71%
Value of interest in common/collective trusts $8,587,564 $15,888,277 -45.95%
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 $60,429,892 $94,003,368 -35.72%
Value of funds held in insurance co. general account $23,235,862 $24,425,317 -4.87%
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 $155,203 $3,132 4855.40%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $2,903 $3,132 -7.31%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $152,300 $0 0.0%
Net Assets $110,127,376 $152,321,083 -27.70%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Fidelity Inv. Inst. Ops. Co. Recordkeeping $0 $33,176 $33,176
Fidelity Management and Reseach Co Investment Advisor $0 $11,639 $11,639
Total $0 $44,815 $44,815



Name of Investment Investment Manager Type of Investment Dollar Value
Fid Us Eq Index Pool Fidelity Management Trust Company DFE: Common/Collective Trust $8,433,979
Fid Mgd Inc Port Fidelity Management Trust Company DFE: Common/Collective Trust $153,585
Total $8,587,564

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Prudential Retirement Insurance & Annuity Company 1,141
EIN 06-1050034
Industry Code 93629
Contract Number 015620
Contract Year 01/01/2008 — 12/31/2008
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
Balance at the end of the previous year $24,425,317
Additions $1,091,795
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,091,795
Transferred from separate account $0
Other $0
Total of Balance and Additions $25,517,112
Deductions $2,281,250
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 $2,281,250
Balance at the end of the current year $23,235,862