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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan12/16/2006
  • Net Assets as of 12/31/2018 $12,530,238
  • 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 12/31/2018

  • Active (Eligible) Participants247
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits68
  • Subtotal315
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total315
  • Total number of participants as of 01/01/2018256
  • Number of participants with account balances298
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested25

Expenses

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

Sponsor Information

  • Address7005 Shannon Willow Road Suite 100
  • CityCharlotte
  • StateNC
  • Zip28226
  • Telephone(704) 529-3115
  • EIN01-0780018
  • Industry Code531190
  • Named AdministratorJohn Shelton

Audit Information

  • Audit StatusAudited
  • AuditorMelissa G. Critcher, CPA, Pc
  • Auditor EIN27-1654932
  • 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.
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 $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 $996,711
Contributions $1,631,286
Cash Contributions $1,631,286
Cash from Employers $469,910
Cash from Participants $1,127,131
Others (including rollovers) $34,245
Noncash Contributions $0
Total Earnings on Investments $-644,406
Total Interest $25,288
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,739
Interest from Other Investments $18,549
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 $-669,694
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 $9,831
Expenses $490,646
Total Benefit Payments $473,843
Directly to participants or beneficiaries, including direct rollovers $473,843
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $1,549
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $15,254
Professional Fees $0
Contract Administrator Fees $15,254
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $506,065
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $12,530,238 $12,024,173 4.21%
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 $145,880 $152,191 -4.15%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $11,104,877 $10,989,924 1.05%
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 $1,279,481 $882,058 45.06%
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 $12,530,238 $12,024,173 4.21%

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.), Investment management, Valuation (appraisals, etc.), Participant loan processing, Participant communication, Direct payment from the plan, Investment management fees paid indirectly by plan, Recordkeeping fees, Account maintenance fees NONE $15,254 $0 $15,254
Total $15,254 $0 $15,254

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

Name Position Explanation
Daszkal Bolton LLP Auditor Wanted A Local Firm. More Cost Effective.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
T. Rowe Price Large Cap Value Minnesota Life Insurance Company DFE: Pooled Separate Account $1,688,914
Amer Funds Gro Fund of Amer,R6 Minnesota Life Insurance Company DFE: Pooled Separate Account $1,589,314
Metro West Ttl Rtn Bd Admin Minnesota Life Insurance Company DFE: Pooled Separate Account $1,397,142
Ab Glbl Bond Adv Minnesota Life Insurance Company DFE: Pooled Separate Account $1,344,282
Lazard International St Eq Ins Minnesota Life Insurance Company DFE: Pooled Separate Account $889,854
Disciplined Gro Mid Cap Gro Minnesota Life Insurance Company DFE: Pooled Separate Account $631,173
Vanguard Lifestrategy Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $615,213
Perkins Small Cap Value Minnesota Life Insurance Company DFE: Pooled Separate Account $582,503
T. Rowe Price Health Sciences Minnesota Life Insurance Company DFE: Pooled Separate Account $312,355
Vanguard Lifestrategy Mod Gro Minnesota Life Insurance Company DFE: Pooled Separate Account $305,878
Vgd Extended Mkt Idx Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $231,249
Securian Am S&P 500 Index Minnesota Life Insurance Company DFE: Pooled Separate Account $194,629
Janus Opportunistic Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $172,569
Vanguard Lifestrategy Cons Gro Minnesota Life Insurance Company DFE: Pooled Separate Account $172,295
Master Separate Account Minnesota Life Insurance Company DFE: Pooled Separate Account $158,661
Loomis Sayles Invstm Gr Bd Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $147,794
Dfa Emerging Markets Val Port Minnesota Life Insurance Company DFE: Pooled Separate Account $104,641
Vanguard Lgtrm Invgr Fd Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $93,730
Ivy Securian Real Estate Sec Y Minnesota Life Insurance Company DFE: Pooled Separate Account $84,374
Dodge & Cox Intl Stock Fund Minnesota Life Insurance Company DFE: Pooled Separate Account $56,967
Dfa U.S. Targeted Value Port Minnesota Life Insurance Company DFE: Pooled Separate Account $55,052
Tiaa-Cref Intl Eq Idx Instl Minnesota Life Insurance Company DFE: Pooled Separate Account $54,128
Dreyfus Natural Resources I Minnesota Life Insurance Company DFE: Pooled Separate Account $41,724
Janus Henderson Mid Cap Val T Minnesota Life Insurance Company DFE: Pooled Separate Account $35,575
Pinebridge Dyn Asst Allc Instl Minnesota Life Insurance Company DFE: Pooled Separate Account $31,241
Invesco Intl Growth, R5 Minnesota Life Insurance Company DFE: Pooled Separate Account $29,131
T. Rowe Price Mid Cap Val Fund Minnesota Life Insurance Company DFE: Pooled Separate Account $27,142
Nub Brn Sustnbl Eq Instl Minnesota Life Insurance Company DFE: Pooled Separate Account $21,728
Loomis Sayles Bond Inst'L Cl Minnesota Life Insurance Company DFE: Pooled Separate Account $17,237
Amg Mngr Fairpointe Mid Cap I Minnesota Life Insurance Company DFE: Pooled Separate Account $10,116
Dfa U.S. Small Cap Portfolio Minnesota Life Insurance Company DFE: Pooled Separate Account $6,404
Dfa Intl Small Company Port Minnesota Life Insurance Company DFE: Pooled Separate Account $1,443
Colmb Ltd Dur Crdt Adv Minnesota Life Insurance Company DFE: Pooled Separate Account $419
Jpmorgan Large Cap Value R6 Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $11,104,877

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 315
EIN 41-0417830
Industry Code 66168
Contract Number 067433
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $1,279,481
Value in Separate Accounts at Year End $11,104,877
Insurance Fees and Commissions $15,215
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Securian Financial Services, I 400 Robert Street N Saint Paul, MN 55101 Insurance Agent or Broker $15,215 $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 ANNUITY CONTRACT
Balance at the end of the previous year $882,058
Additions $568,812
Contributions Deposited during the year $51,176
Dividends and credits $0
Interest credited during the year $18,549
Transferred from separate account $498,104
Other $983
Total of Balance and Additions $1,450,870
Deductions $171,389
Disbursed from fund to pay benefits or purchase annuities during the year $22,105
Administration charge made by carrier $1,117
Transferred to Separate Account $148,167
Other $0
Balance at the end of the current year $1,279,481