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Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan12/16/2006
  • Net Assets as of 12/31/2011 $6,919,462
  • Plan Number2
  • 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 12/31/2011

  • Active (Eligible) Participants91
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits45
  • Subtotal136
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total136
  • Total number of participants as of 01/01/2011144
  • Number of participants with account balances114
  • 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

  • Address11111 Carmel Commons Blvd Suite 410
  • CityCharlotte
  • StateNC
  • Zip28226
  • Telephone(704) 529-3115
  • EIN01-0780018
  • Industry Code531190
  • Named AdministratorJohn Shelton

Plan Administrator Information

  • Administrator NameOr Colan Group LLC
  • Address11111 Carmel Commons Blvd Suite 410
  • CityCharlotte
  • StateNC
  • Zip28226
  • Telephone(704) 529-3115
  • Administrator EIN01-0780018

Audit Information

  • Audit StatusAudited
  • AuditorBarnes & Associates, CPA's, Pa
  • Auditor EIN59-1744054
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $590,000
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 $234,506
Contributions $596,423
Cash Contributions $596,423
Cash from Employers $71,941
Cash from Participants $523,783
Others (including rollovers) $699
Noncash Contributions $0
Total Earnings on Investments $-367,367
Total Interest $4,693
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,693
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 $-372,060
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 $5,450
Expenses $838,471
Total Benefit Payments $831,041
Directly to participants or beneficiaries, including direct rollovers $831,041
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 $7,430
Professional Fees $0
Contract Administrator Fees $7,430
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-603,965
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 $6,919,462 $7,523,427 -8.03%
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 $121,590 $62,679 93.99%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $6,797,872 $7,460,748 -8.88%
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 $0 $0 0.0%
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 $6,919,462 $7,523,427 -8.03%

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
Minnesota Life Insurance Company Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Consulting (pension), Insurance agents and brokers, Investment advisory (participants), Investment advisory (plan), Investment management, Valuation (appraisals, etc.), Participant loan processing, Direct payment from the plan, Recordkeeping fees, Account maintenance fees NONE $7,430 $0 $7,430
Total $7,430 $0 $7,430

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
Large Growth Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $878,283
Large Value Equity Xiv Minnesota Life Insurance Company DFE: Pooled Separate Account $825,943
Lifestrategy I Minnesota Life Insurance Company DFE: Pooled Separate Account $519,799
Intermediate Term Bond I Minnesota Life Insurance Company DFE: Pooled Separate Account $497,147
International Core Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $464,944
Global Bond I Minnesota Life Insurance Company DFE: Pooled Separate Account $459,303
Small/Mid Value Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $396,621
Lifestrategy III Minnesota Life Insurance Company DFE: Pooled Separate Account $273,759
Small/Mid Growth Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $270,432
Lifestrategy II Minnesota Life Insurance Company DFE: Pooled Separate Account $179,213
Large Value Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $164,660
Emerging Markets II Minnesota Life Insurance Company DFE: Pooled Separate Account $160,248
Aggregate Bond II Minnesota Life Insurance Company DFE: Pooled Separate Account $155,679
Large Equity Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $144,556
Tactical Asset Allocation I Minnesota Life Insurance Company DFE: Pooled Separate Account $127,976
International Value II Minnesota Life Insurance Company DFE: Pooled Separate Account $127,163
Money Market Minnesota Life Insurance Company DFE: Pooled Separate Account $125,626
Real Estate Minnesota Life Insurance Company DFE: Pooled Separate Account $116,514
International Growth I Minnesota Life Insurance Company DFE: Pooled Separate Account $107,379
Short-Term Bond Minnesota Life Insurance Company DFE: Pooled Separate Account $104,523
Large Growth Equity Xi Minnesota Life Insurance Company DFE: Pooled Separate Account $90,087
Natural Resources I Minnesota Life Insurance Company DFE: Pooled Separate Account $86,615
Small Value Equity Xiv Minnesota Life Insurance Company DFE: Pooled Separate Account $84,089
Small/Mid Equity Index Ia Minnesota Life Insurance Company DFE: Pooled Separate Account $65,352
Health Care Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $62,682
Mid-Cap Value Equity I Minnesota Life Insurance Company DFE: Pooled Separate Account $56,554
Mid Cap Value Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $48,210
International Small Cap I Minnesota Life Insurance Company DFE: Pooled Separate Account $38,712
Long-Term Inv-Grade Bond Minnesota Life Insurance Company DFE: Pooled Separate Account $38,477
Multisector Bond I Minnesota Life Insurance Company DFE: Pooled Separate Account $36,818
Mid-Cap Growth Equity I Minnesota Life Insurance Company DFE: Pooled Separate Account $35,838
Technology I Minnesota Life Insurance Company DFE: Pooled Separate Account $21,782
Mid-Cap Growth Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $12,421
Mid-Cap Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $8,715
Small Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $8,202
Social Equity I Minnesota Life Insurance Company DFE: Pooled Separate Account $3,550
Small/Mid Equity Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Mid-Cap Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Health Care Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $6,797,872

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 136
EIN 41-0417830
Industry Code 66168
Contract Number 067433
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $0
Value in Separate Accounts at Year End $6,797,872
Insurance Fees and Commissions $18,656
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Securian Financial Services 400 Robert Street N Saint Paul, MN 55101 Insurance Agent or Broker $18,656 $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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0