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FORM 5500 DATA

Charles Clark Chevrolet 401k Profit Sharing Plan & Trust

Overview

Plan Information

  • Plan Year01/01/2013 — 12/31/2013
  • Date of Plan01/01/2002
  • Net Assets as of 12/31/2013 $2,683,991
  • 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 12/31/2013

  • Active (Eligible) Participants155
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits8
  • Subtotal164
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total164
  • Total number of participants as of 01/01/2013158
  • Number of participants with account balances80
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested4

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 938
  • CityMcallen
  • StateTX
  • Zip78505
  • Telephone(956) 686-5441
  • EIN74-0545450
  • Industry Code441110
  • Named AdministratorKayla Paulin

Audit Information

  • Audit StatusAudited
  • AuditorSmith Fankhauser Voigt Watson PLLC
  • Auditor EIN74-1080030
  • 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? Yes $214,939
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 $509,529
Contributions $295,052
Cash Contributions $295,052
Cash from Employers $19,731
Cash from Participants $275,321
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $214,010
Total Interest $24,509
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,002
Interest from Other Investments $20,507
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 $189,501
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 $467
Expenses $172,746
Total Benefit Payments $147,510
Directly to participants or beneficiaries, including direct rollovers $147,510
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $20,769
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $4,467
Professional Fees $0
Contract Administrator Fees $4,467
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $336,783
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2013 12/31/2012 Change YOY
Total Assets $2,683,991 $2,347,208 14.35%
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 $110,861 $99,681 11.22%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $1,743,694 $1,760,422 -0.95%
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 $829,436 $487,105 70.28%
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 $2,683,991 $2,347,208 14.35%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Sentry Life Insurance Company

Other Service Providers Receiving Direct or Indirect Compensation

There are no service providers listed for this plan.

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
Life Cycle/Lb Sentry Life Insurance Company DFE: Pooled Separate Account $489,238
Life Cycle/Lc Sentry Life Insurance Company DFE: Pooled Separate Account $413,061
Life Cycle/Ld Sentry Life Insurance Company DFE: Pooled Separate Account $315,376
Large Cap Index Account Sentry Life Insurance Company DFE: Pooled Separate Account $74,881
Balanced Income Account Sentry Life Insurance Company DFE: Pooled Separate Account $69,483
Balanced Growth Account II Sentry Life Insurance Company DFE: Pooled Separate Account $60,089
Mid-Cap Growth Account I Sentry Life Insurance Company DFE: Pooled Separate Account $53,187
Mid-Cap Growth Account III Sentry Life Insurance Company DFE: Pooled Separate Account $49,557
Small Cap Growth Account I Sentry Life Insurance Company DFE: Pooled Separate Account $47,802
Diversified Growth Account Sentry Life Insurance Company DFE: Pooled Separate Account $39,626
Small Cap Growth Account III Sentry Life Insurance Company DFE: Pooled Separate Account $39,501
Foreign Growth Account Sentry Life Insurance Company DFE: Pooled Separate Account $28,235
Equity Growth & Income Account Sentry Life Insurance Company DFE: Pooled Separate Account $17,949
Global Growth Account Sentry Life Insurance Company DFE: Pooled Separate Account $12,471
Life Cycle/Le Sentry Life Insurance Company DFE: Pooled Separate Account $12,225
Life Cycle/La Sentry Life Insurance Company DFE: Pooled Separate Account $9,096
Total Bond Index Account Sentry Life Insurance Company DFE: Pooled Separate Account $7,318
Life Cycle/Lf Sentry Life Insurance Company DFE: Pooled Separate Account $2,469
Money Market Account Sentry Life Insurance Company DFE: Pooled Separate Account $2,130
Balanced Growth Account Sentry Life Insurance Company DFE: Pooled Separate Account $0
Total $1,743,694

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Sentry Life Insurance Company 164
EIN 39-6040276
Industry Code 68810
Contract Number 876353671
Contract Year 01/01/2013 — 12/31/2013
Value in General Account at Year End $0
Value in Separate Accounts at Year End $1,743,694
Insurance Fees and Commissions $2,730
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Larry Yanez 5008 Redwood Ave Mcallen, TX 78501 Insurance Agent or Broker $2,730 $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 Deposit Administration
Balance at the end of the previous year $487,105
Additions $543,460
Contributions Deposited during the year $58,814
Dividends and credits $0
Interest credited during the year $20,507
Transferred from separate account $444,797
Other $19,342
Total of Balance and Additions $1,030,565
Deductions $201,129
Disbursed from fund to pay benefits or purchase annuities during the year $134,899
Administration charge made by carrier $3,330
Transferred to Separate Account $20,058
Other $42,842
Balance at the end of the current year $829,436