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FORM 5500 DATA

Plan De Participacion De Ganancias Para Los Empleados De Suiza Dairy Y Sus Afiliadas

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1990
  • Net Assets as of 12/31/2017 $15,716,385
  • Plan Number1
  • Plan Type Single 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 12/31/2017

  • Active (Eligible) Participants756
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits202
  • Subtotal958
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total958
  • Total number of participants as of 01/01/2017966
  • Number of participants with account balances709
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested11

Expenses

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

Sponsor Information

  • AddressPo Box 363207
  • CitySan Juan
  • StatePR
  • Zip00936-3207
  • Telephone(787) 792-7300
  • EIN66-0617827
  • Industry Code311500
  • Named AdministratorBenedicto Marrero Malave
  • Named Plan SponsorBenedicto Marrero Malave

Audit Information

  • Audit StatusAudited
  • AuditorKevane Grant Thorton LLP
  • Auditor EIN66-0563256
  • 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.
3C Plan not intended to be qualified A plan not intended to be qualified under Code sections 401, 403, or 408.

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 $350,966
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 $3,094,023
Contributions $1,183,161
Cash Contributions $1,183,161
Cash from Employers $350,126
Cash from Participants $833,035
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $1,910,862
Total Interest $21,915
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $21,915
Participant Loans $0
Interest from Other Investments $0
Total Dividends $638,823
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 $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 $1,250,124
Other Income $0
Expenses $1,257,669
Total Benefit Payments $1,110,707
Directly to participants or beneficiaries, including direct rollovers $1,110,707
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $146,962
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $90,670
Other Administrative Fees $56,292
Net Income $1,836,354
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 $15,716,385 $13,880,031 13.23%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $119,632 $31,661 277.85%
Employer Contributions $32,773 $8,717 275.97%
Participant Contributions $86,859 $22,944 278.57%
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 $507,020 $582,875 -13.01%
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 $14,027,188 $12,280,667 14.22%
Value of funds held in insurance co. general account $1,062,545 $984,828 7.89%
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 $15,716,385 $13,880,031 13.23%

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
Independent Financial Group LLC Investment advisory (plan) Investment Advisor $90,670 $0 $90,670
Great West Life & Annuity Company Recordkeeping fees Recordkeeper $55,668 $0 $55,668
A & A Employee Benefits Consulting Contract Administrator Contract Admin $0 $10,000 $10,000
Total $146,338 $10,000 $156,338

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
A & A Employee Benefits Consulting Great West Life & Annuity Company Contract Administrator Tpa Allowance $10,000
*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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great West Life & Annuity Insurance Company 375
EIN 84-0467907
Industry Code 68322
Contract Number 385519-P1
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $1,062,545
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 $999,708
Additions $170,757
Contributions Deposited during the year $55,539
Dividends and credits $0
Interest credited during the year $12,216
Transferred from separate account $93,998
Other $9,004
Total of Balance and Additions $1,170,465
Deductions $104,920
Disbursed from fund to pay benefits or purchase annuities during the year $104,753
Administration charge made by carrier $167
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $1,065,545