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FORM 5500 DATA

1 Source Business Solutions 401k Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/2013
  • Net Assets as of 12/31/2018 $9,793,592
  • Plan Number333
  • Plan Type Multiple 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 12/31/2018

  • Active (Eligible) Participants1,047
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits224
  • Subtotal1,273
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,273
  • Total number of participants as of 01/01/20181,109
  • Number of participants with account balances635
  • 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

  • Address6966 S Commerce Park Drive
  • CityMidvale
  • StateUT
  • Zip84047
  • Telephone(801) 352-2333
  • EIN27-3793520
  • Industry Code813000
  • Named AdministratorRobert Beck
  • Named Plan SponsorRobert Beck

Audit Information

  • Audit StatusAudited
  • AuditorTempleton & Company
  • Auditor EIN14-1918990
  • 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.

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? Yes $211,991
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? 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 $2,434,066
Contributions $2,914,981
Cash Contributions $2,914,981
Cash from Employers $679,807
Cash from Participants $2,112,351
Others (including rollovers) $122,823
Noncash Contributions $0
Total Earnings on Investments $-481,140
Total Interest $10,425
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $10,425
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 $-491,565
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 $225
Expenses $1,133,159
Total Benefit Payments $1,011,414
Directly to participants or beneficiaries, including direct rollovers $1,011,414
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $3,832
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $117,913
Professional Fees $0
Contract Administrator Fees $83,596
Investment Advisory and management fees $0
Other Administrative Fees $34,317
Net Income $1,300,907
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $802,237

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $9,797,424 $8,216,658 19.24%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $320,873 $168,879 90.00%
Employer Contributions $104,644 $49,598 110.98%
Participant Contributions $213,198 $116,812 82.51%
Other Contributions $3,031 $2,469 22.76%
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 $213,216 $215,979 -1.28%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $8,085,194 $6,947,194 16.38%
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 $1,178,141 $884,606 33.18%
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 $3,832 $2,500 53.28%
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) $3,832 $2,500 53.28%
Net Assets $9,793,592 $8,214,158 19.23%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Lincoln Financial

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
Lincoln National Corporation Contract Administrator Service Provider $71,535 $0 $71,535
Stadion Money Management Investment advisory (participants) Service Provider $35,211 $0 $35,211
Pinnacle Financial Services Recordkeeping and information management (computing, tabulating, data processing, etc.) Service Provider $29,777 $0 $29,777
Total $136,523 $0 $136,523

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
Stadion Managed Growth Lincoln National Life Insurance Co. DFE: Pooled Separate Account $2,725,326
Stadion Managed Moderate Lincoln National Life Insurance Co. DFE: Pooled Separate Account $2,185,474
Stadion Managed Max Growth Lincoln National Life Insurance Co. DFE: Pooled Separate Account $882,869
Stadion Managed Balanced Lincoln National Life Insurance Co. DFE: Pooled Separate Account $376,576
Vanguard Lifestrategy Growth Lincoln National Life Insurance Co. DFE: Pooled Separate Account $294,662
Lvip Ssga S&P 500 Index Lincoln National Life Insurance Co. DFE: Pooled Separate Account $292,277
Ssga S&P Midcap Index Non-Lending S Lincoln National Life Insurance Co. DFE: Pooled Separate Account $222,937
Vanguard Lifestrategy Moderate Grow Lincoln National Life Insurance Co. DFE: Pooled Separate Account $126,632
Vanguard Lifestrategy Cons Growth Lincoln National Life Insurance Co. DFE: Pooled Separate Account $113,791
Stadion Managed Capital Pres Lincoln National Life Insurance Co. DFE: Pooled Separate Account $107,256
Stadion Managed Conservative Lincoln National Life Insurance Co. DFE: Pooled Separate Account $103,130
Ssga International Index Lincoln National Life Insurance Co. DFE: Pooled Separate Account $101,753
Life Seperate Account 4K Lincoln National Life Insurance Co. DFE: Pooled Separate Account $99,525
Ssga Russell Small Cap Growth Index Lincoln National Life Insurance Co. DFE: Pooled Separate Account $78,632
Ssga Russell Small Cap Value Index Lincoln National Life Insurance Co. DFE: Pooled Separate Account $78,422
Oppenheimer Developing Markets Lincoln National Life Insurance Co. DFE: Pooled Separate Account $64,142
Ssga Bond Index Lincoln National Life Insurance Co. DFE: Pooled Separate Account $46,239
Mfs Vit Growth Series Lincoln National Life Insurance Co. DFE: Pooled Separate Account $43,890
Invesco Growth & Income Lincoln National Life Insurance Co. DFE: Pooled Separate Account $43,857
Federated Government Ultrashort Dur Lincoln National Life Insurance Co. DFE: Pooled Separate Account $41,880
Lvip Managed Risk Profile 2030 Lincoln National Life Insurance Co. DFE: Pooled Separate Account $21,221
Lvip Managed Risk Profile 2040 Lincoln National Life Insurance Co. DFE: Pooled Separate Account $15,664
Lincoln Life Separate Account F9 Lincoln National Life Insurance Co. DFE: Pooled Separate Account $9,059
Lvip Clarion Global Real Estate Lincoln National Life Insurance Co. DFE: Pooled Separate Account $7,601
Blackrock Inflation Protected Bond Lincoln National Life Insurance Co. DFE: Pooled Separate Account $2,026
Lvip Managed Risk Profile 2010 Lincoln National Life Insurance Co. DFE: Pooled Separate Account $353
Lvip Managed Risk Profile 2050 Lincoln National Life Insurance Co. DFE: Pooled Separate Account $0
Total $8,085,194

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Lincoln National Life Insurance Co. 1,273
EIN 35-0472300
Industry Code 65676
Contract Number VARIOUS
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $1,178,141
Value in Separate Accounts at Year End $8,085,194
Insurance Fees and Commissions $40,227
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Trident Insurance Group 5263 Commerce Dr #204 Murray, UT 84107 Agent or Broker other than Insurance $32,141 $0
Pinnacle Financial Srv Inc David Core Lantana, FL 33462 Third Party Administrator $0 $5,316 TPA AWARDS
Trident Insurance Group 6966 Commerce Park Dr Midvale, UT 84047 Agent or Broker other than Insurance $0 $2,770 MARKETING ALLOWANCE
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 GUARANTEED FUND
Balance at the end of the previous year $884,606
Additions $793,067
Contributions Deposited during the year $566,199
Dividends and credits $0
Interest credited during the year $33,288
Transferred from separate account $80,926
Other $112,654
Total of Balance and Additions $1,677,673
Deductions $499,532
Disbursed from fund to pay benefits or purchase annuities during the year $465,655
Administration charge made by carrier $32,467
Transferred to Separate Account $0
Other $1,410
Balance at the end of the current year $1,178,141