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FORM 5500 DATA

Astec Industries, Inc. 401k Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan03/01/1987
  • Net Assets as of 12/31/2019 $291,512,085
  • Plan Number1
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,198
  • Retired or separated participants receiving benefits44
  • Other retired or separated participants entitled to future benefits759
  • Subtotal4,001
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits9
  • Total4,010
  • Total number of participants as of 01/01/20194,495
  • Number of participants with account balances3,811
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address1725 Shepherd Road
  • CityChattanooga
  • StateTN
  • Zip37421
  • Telephone(423) 899-5898
  • EIN62-0873631
  • Industry Code324120
  • Named AdministratorTroy Gilstrap

Audit Information

  • Audit StatusAudited
  • AuditorLbmc,Pc
  • Auditor EIN62-1199757
  • Audit OpinionUnqualified
  • Audit Type Full 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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.

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 $3,000,000
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 $74,855,644
Contributions $21,789,100
Cash Contributions $21,789,100
Cash from Employers $6,462,446
Cash from Participants $14,286,975
Others (including rollovers) $1,039,679
Noncash Contributions $0
Total Earnings on Investments $52,823,705
Total Interest $480,147
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $480,147
Interest from Other Investments $0
Total Dividends $19,161,792
Preferred Stock $0
Common Stock $49,437
Rents $0
Net gain (loss) on sale of assets $61,830
Aggregate Proceeds $543,897
Aggregate Carrying Amount $482,067
Total Unrealized Appreciation (depreciation) of assets $1,266,196
Real Estate $0
Other $1,266,196
Net investment gain (loss) from common/collective trusts $703,949
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 $31,149,791
Other Income $242,839
Expenses $35,337,872
Total Benefit Payments $34,502,540
Directly to participants or beneficiaries, including direct rollovers $34,502,540
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $74,316
Certain deemed distributions of participant loans $224,823
Interest expense $0
Total Administrative Expenses $536,193
Professional Fees $1,200
Contract Administrator Fees $0
Investment Advisory and management fees $280,539
Other Administrative Fees $254,454
Net Income $39,517,772
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 $291,578,204 $252,033,209 15.69%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $122,848 $153,613 -20.03%
Employer Contributions $122,848 $153,613 -20.03%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $1,529 $1,156 32.27%
Interest-bearing cash $1,529 $1,156 32.27%
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 $7,857,919 $8,225,196 -4.47%
Value of interest in common/collective trusts $32,159,188 $33,417,812 -3.77%
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 $245,620,351 $206,026,765 19.22%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $1,072,298 $841,170 27.48%
Employer-related Investments $4,744,071 $3,367,497 40.88%
Employer Securities $4,744,071 $3,367,497 40.88%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $66,119 $38,896 69.99%
Benefit Claims Payable (1) $66,119 $38,896 69.99%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $291,512,085 $251,994,313 15.68%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Great-West Life & Annuity Insurance
  • Charles Schwab & Company, Inc.

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
Advised Assets Group, LLC Investment advisory (participants), Direct payment from the plan NONE $280,539 $0 $280,539
Great-West Life & Annuity Insurance Recordkeeping fees, Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan NONE $254,454 $0 $254,454
Charles Schwab & Co.,Inc. Shareholder servicing fees NONE $379 $0 $379
Total $535,372 $0 $535,372

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Charles Schwab & Co., Inc. AKRE Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. American Century Investments Shareholder servicing fees Range of 0.21 - 0.30% of Average Daily Balance of Assets $0
Charles Schwab & Co., Inc. Baron Capital Group Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Calvert Research and Management Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Doubleline Shareholder servicing fees Rate of 0.31% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Edgewood Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Fidelity Investments Shareholder servicing fees Rate of 0.09% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Hennessy Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Invesco Shareholder servicing fees Rate of 0.43% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Janus Henderson Shareholder servicing fees Rate of 0.30% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Madison Funds Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Matthews Asia Funds Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Meridian Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Morgan Stanley Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. New Alternatives Shareholder servicing fees Rate of 0.09% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Oberweis Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Permanent Portfolio Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Profunds Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Schwab Funds Shareholder servicing fees Rate of 0.13% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Shelton Capital Management Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. T. Rowe Price Shareholder servicing fees Rate of 0.13% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Tocqueville Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Wasatch Shareholder servicing fees Rate of 0.34% of Average Daily Balance of Asset(S) $0
Charles Schwab & Co., Inc. Wells Fargo Funds Shareholder servicing fees Rate of 0.47% of Average Daily Balance of Asset(S) $0
*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
Pru Core Conserv Int Bd Fd Prudential Trust Co. DFE: Common/Collective Trust $32,159,188
Total $32,159,188

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.