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Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1986
  • Net Assets as of 12/31/2017 $375,164,240
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants5,521
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits1,754
  • Subtotal7,275
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits14
  • Total7,289
  • Total number of participants as of 01/01/20177,528
  • Number of participants with account balances6,777
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested650

Expenses

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

Sponsor Information

  • Address1980 Post Oak Blvd
  • CityHouston
  • StateTX
  • Zip77056
  • Telephone(713) 625-8080
  • EIN74-0924290
  • Industry Code524290
  • Named AdministratorDavid Stutts

Audit Information

  • Audit StatusAudited
  • AuditorWeaver & Tidwell LLP
  • Auditor EIN75-0786316
  • Audit OpinionUnqualified
  • Audit Type Full 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.
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? Yes $1,015
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 $10,000,000
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? 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 $89,415,005
Contributions $38,242,289
Cash Contributions $38,242,289
Cash from Employers $8,589,363
Cash from Participants $24,444,192
Others (including rollovers) $5,208,734
Noncash Contributions $0
Total Earnings on Investments $51,172,716
Total Interest $272,199
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $272,199
Interest from Other Investments $0
Total Dividends $14,182,325
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $-189,293
Aggregate Proceeds $2,447,142
Aggregate Carrying Amount $2,636,435
Total Unrealized Appreciation (depreciation) of assets $-493,694
Real Estate $0
Other $-493,694
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $561,944
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 $36,839,235
Other Income $0
Expenses $49,133,993
Total Benefit Payments $48,637,094
Directly to participants or beneficiaries, including direct rollovers $48,637,094
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $8,720
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $488,179
Professional Fees $20,100
Contract Administrator Fees $0
Investment Advisory and management fees $95,000
Other Administrative Fees $373,079
Net Income $40,281,012
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 $375,164,240 $334,883,228 12.03%
Total noninterest-bearing cash $2,638 $91 2798.90%
Receivables $2,032,336 $202,052 905.85%
Employer Contributions $2,001,560 $201,037 895.62%
Participant Contributions $30,776 $1,015 2932.12%
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 $6,302,931 $6,775,092 -6.97%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $28,722,208 $32,090,397 -10.50%
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 $326,834,599 $282,644,155 15.63%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $11,269,528 $13,171,441 -14.44%
Employer Securities $11,269,528 $13,171,441 -14.44%
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 $375,164,240 $334,883,228 12.03%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Charles Schwab & Co. Inc. and Affil

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
Schwab Retirement Plan Services Inc Recordkeeping and information management (computing, tabulating, data processing, etc.), Direct payment from the plan, Recordkeeping fees NONE $373,004 $0 $373,004
Capfinancial Partners LLC Investment management, Direct payment from the plan NONE $95,000 $0 $95,000
Weaver and Tidwell LLP Accounting (including auditing), Direct payment from the plan NONE $20,100 $0 $20,100
Charles Schwab Bank Trustee (directed), Other services, Direct payment from the plan, Investment management fees paid indirectly by plan, Float revenue NONE $1,237 $0 $1,237
Charles Schwab & Co., Inc. Shareholder servicing fees NONE $0 $0 $0
Total $489,341 $0 $489,341

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Charles Schwab & Co Inc and Affil See Attachment Shareholder servicing fees See Attachment $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
New York Life Anchor Acct IV New York Life Insurance Company DFE: Pooled Separate Account $28,722,208
Total $28,722,208

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
New York Life Insurance Company 1,079
EIN 13-5582869
Industry Code 66915
Contract Number GA31627
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $28,722,208
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 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