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FORM 5500 DATA

Hotel Retirement Systems Profit Sharing Plan and Trust

Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan10/01/1989
  • Net Assets as of 12/31/2011 $16,757,610
  • Plan Number2
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2011

  • Active (Eligible) Participants1,332
  • Retired or separated participants receiving benefits6
  • Other retired or separated participants entitled to future benefits111
  • Subtotal1,449
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total1,452
  • Total number of participants as of 01/01/20111,650
  • Number of participants with account balances715
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested23

Expenses

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

Sponsor Information

  • Address3211 W Sencore Dr
  • CitySioux Falls
  • StateSD
  • Zip57107
  • Telephone(605) 334-2371
  • EIN46-0282107
  • Industry Code721110
  • Named AdministratorJill Sickler

Plan Administrator Information

  • Administrator NameThe Ramkota Companies, Inc.
  • Address3211 W Sencore Dr
  • CitySioux Falls
  • StateSD
  • Zip57107
  • Telephone(605) 334-2371
  • Administrator EIN46-0282107

Audit Information

  • Audit StatusAudited
  • AuditorEide Bailly
  • Auditor EIN45-0250958
  • 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 $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? 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 $1,321,573
Contributions $1,510,205
Cash Contributions $1,510,205
Cash from Employers $421,882
Cash from Participants $1,088,323
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-187,942
Total Interest $23,225
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $23,225
Interest from Other Investments $0
Total Dividends $365,263
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 $104,735
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 $-681,165
Other Income $-690
Expenses $1,992,735
Total Benefit Payments $1,958,578
Directly to participants or beneficiaries, including direct rollovers $1,958,578
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $18,268
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $15,889
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $15,889
Net Income $-671,162
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $16,757,610 $16,511,343 1.49%
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 $563,940 $445,483 26.59%
Value of interest in common/collective trusts $2,739,662 $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 $13,333,632 $16,065,860 -17.01%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $120,376 $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 $16,757,610 $16,511,343 1.49%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional
  • Great-West Life & Annuity Co.

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
Fidelity Investments Institutional Recordkeeping fees, Account maintenance fees, Participant loan processing, Sub-transfer agency fees Recordkeeper $15,218 $0 $15,218
Total $15,218 $0 $15,218

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Aston/F Mid Cap N - Bny Mellon Inv Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Harbor Intl Inv - Principal Shareho Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Heartland Val Pls IV - Alps Fund SE Sub-transfer agency fees 0.50% $0
Fidelity Investments Institutional Invs Divrs Divd Inst - Invesco Aim Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Invs High Yld Inst - Invesco Invest Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Mfs Ma Inv Trust R3 - Mfs Service C Sub-transfer agency fees 0.50% $0
Fidelity Investments Institutional Msif Mid Cap Grth P - Morgan Stanle Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Nuveen Real Estate A - Us Bancorp F Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oakmark Eq & Inc I - Boston Financi Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Pimco Real Rtn Bd Ad - Boston Finan Sub-transfer agency fees 0.26% $0
Fidelity Investments Institutional Pimco Tot Return Adm - Boston Finan Sub-transfer agency fees 0.26% $0
Fidelity Investments Institutional Rdgwth Mid Cap Val I - Boston Finan Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Royce Premier Invest - Boston Finan Sub-transfer agency fees 0.20% $0
Fidelity Investments Institutional Tcw Sm Cap Grth N - U.S. Bancorp Fu Sub-transfer agency fees 0.50% $0
Fidelity Investments Institutional Tmpl Global Bond A - Franklin Templ Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wfa Govt Secs Adm - Boston Financia Sub-transfer agency fees 0.35% $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
Fid Mgd Inc Port Fidelity Management Trust Company DFE: Common/Collective Trust $2,739,662
Total $2,739,662

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great West Life & Ann Ins Co 23
EIN 84-0467907
Industry Code 68322
Contract Number 338228-01
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $120,376
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $209,328
Additions $5,653
Contributions Deposited during the year $868
Dividends and credits $0
Interest credited during the year $4,427
Transferred from separate account $7
Other $351
Total of Balance and Additions $214,981
Deductions $94,605
Disbursed from fund to pay benefits or purchase annuities during the year $75,297
Administration charge made by carrier $0
Transferred to Separate Account $19,308
Other $0
Balance at the end of the current year $120,376