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Overview

Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan12/01/1990
  • Net Assets as of 12/31/2007 $8,876,564
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2007

  • Active (Eligible) Participants310
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits73
  • Subtotal383
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total383
  • Total number of participants as of 01/01/2007310
  • Number of participants with account balances231
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested18
  • Number of participants required to be reported on Schedule SSA13

Expenses

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

Sponsor Information

  • Address3240 Whipple Rd
  • CityUnion City
  • StateCA
  • Zip94587-1217
  • Telephone(510) 675-6500
  • EIN77-0213001
  • Industry Code621399
  • Named AdministratorClinton H. Severson
  • Named Plan SponsorClinton H. Severson

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Audit Information

  • Audit StatusAudited
  • AuditorBurr, Pilger & Mayer
  • Auditor EIN94-3381220
  • 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.
3E Prototype plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion or notification letter; and under which a separate funding medium (for example, a separate trust or custodial account) is established for the use of each adopting employer.

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 $660,000
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

Financials

Income and Expense Statement

Income $2,759,120
Contributions $1,301,804
Cash Contributions $1,301,804
Cash from Employers $239,854
Cash from Participants $1,041,519
Others (including rollovers) $20,431
Noncash Contributions $0
Total Earnings on Investments $1,457,316
Total Interest $2,481
Interest-Bearing Cash $7
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,474
Interest from Other Investments $0
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $65,612
Aggregate Proceeds $65,612
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $906,428
Real Estate $0
Other $906,428
Net investment gain (loss) from common/collective trusts $27,548
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 $455,247
Other Income $0
Expenses $496,235
Total Benefit Payments $438,564
Directly to participants or beneficiaries, including direct rollovers $438,564
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 $57,671
Professional Fees $2,500
Contract Administrator Fees $0
Investment Advisory and management fees $55,171
Other Administrative Fees $0
Net Income $2,262,885
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $8,876,941 $6,613,679 34.22%
Total noninterest-bearing cash $378 $31,054 -98.78%
Receivables $63,451 $53,678 18.21%
Employer Contributions $63,451 $53,678 18.21%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $9,104 $2,101 333.32%
Interest-bearing cash $9,104 $2,101 333.32%
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 $22,762 $22,426 1.50%
Value of interest in common/collective trusts $645,855 $480,867 34.31%
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 $6,164,920 $4,801,313 28.40%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $1,970,471 $1,222,240 61.22%
Employer Securities $1,970,471 $1,222,240 61.22%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $377 $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) $377 $0 0.0%
Net Assets $8,876,564 $6,613,679 34.22%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Invesmart Advisors, Inc. Investment Management $0 $55,171 $55,171
Total $0 $55,171 $55,171

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Met Master Trust 25259 Charles Schwab Trust Company DFE: Common/Collective Trust $645,855
Total $645,855

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.