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FORM 5500 DATA

Talladega Machinery and Supply Co., Inc. Savings and Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan05/01/1994
  • Net Assets as of 12/31/2017 $5,582,877
  • Plan Number1
  • 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

Participant Information as of 12/31/2017

  • Active (Eligible) Participants95
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits14
  • Subtotal112
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total112
  • Total number of participants as of 01/01/2017115
  • Number of participants with account balances83
  • 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

  • Address301 Johnson Ave N
  • CityTalladega
  • StateAL
  • Zip35160
  • Telephone(256) 362-4124
  • EIN63-0378702
  • Industry Code423800
  • Named AdministratorAna Berry
  • Named Plan SponsorGary Heacock

Audit Information

  • Audit StatusAudited
  • AuditorWarren Averett, LLC
  • Auditor EIN45-4084437
  • 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? 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 $853,018
Contributions $128,065
Cash Contributions $128,065
Cash from Employers $16,718
Cash from Participants $111,347
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $724,953
Total Interest $53,688
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,397
Interest from Other Investments $51,291
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 $671,265
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 $221,854
Total Benefit Payments $219,443
Directly to participants or beneficiaries, including direct rollovers $219,443
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $395
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $2,016
Professional Fees $2,016
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $631,164
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $5,582,877 $4,951,713 12.75%
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 $73,198 $81,685 -10.39%
Value of interest in common/collective trusts $0 $0 0.0%
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 $3,759,958 $3,196,218 17.64%
Value of funds held in insurance co. general account $1,749,721 $1,673,810 4.54%
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 $5,582,877 $4,951,713 12.75%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

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
Massmutual Life Insurance Co. Recordkeeping and information management (computing, tabulating, data processing, etc.), Insurance services, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Other commissions, Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees, Insurance mortality and expense charge, Other fees N/A $2,016 $0 $2,016
Envestnet Retirement Solutions, LLC Investment advisory (plan) N/A $0 $0 $0
Total $2,016 $0 $2,016

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Massmutual Life Insurance Co. See Attached Schedule C Report Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Float revenue, Distribution (12b-1) fees See Form 5500 Schedule C Report $0
Envestnet Retirement Solutions, LLC Massmutual Life Insurance Co. Investment advisory (plan) See Form 5500 Schedule C Report $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
Separate Account 401 Hartford Life Insurance Company DFE: Pooled Separate Account $3,759,958
Separate Account 401 Hartford Life Insurance Company DFE: Pooled Separate Account $3,759,958
Hartford Advantage Tk2 Hartford Life Insurance Company DFE: Pooled Separate Account $0
Separate Account K1 Hartford Life Insurance Company DFE: Pooled Separate Account $0
Total $7,519,916

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Hartford Life Insurance Company 83
EIN 06-0974148
Industry Code 88072
Contract Number GA-711958
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $1,749,721
Value in Separate Accounts at Year End $3,759,958
Insurance Fees and Commissions $27,478
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Planning Corp of America 880 Carillon Pkwy St Petersburg, FL 33716 Insurance Agent or Broker $13,739 $0
Raymond James Insurance Group, Inc. 880 Carillon Pkwy St Petersburg, FL 33716 Insurance Agent or Broker $13,739 $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 GROUP FUNDING AGREEMENT
Balance at the end of the previous year $1,673,810
Additions $119,435
Contributions Deposited during the year $54,137
Dividends and credits $0
Interest credited during the year $51,291
Transferred from separate account $0
Other $14,007
Total of Balance and Additions $1,793,245
Deductions $43,524
Disbursed from fund to pay benefits or purchase annuities during the year $30,033
Administration charge made by carrier $1,209
Transferred to Separate Account $9,938
Other $2,344
Balance at the end of the current year $1,749,721