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FORM 5500 DATA

Moreland Dealerships Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2015
  • Net Assets as of 12/31/2019 $6,756,298
  • Plan Number3
  • Plan Type Multiple 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 12/31/2019

  • Active (Eligible) Participants512
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits164
  • Subtotal676
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total676
  • Total number of participants as of 01/01/2019653
  • Number of participants with account balances327
  • 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

  • Address1950 W. 104th Avenue
  • CityThornton
  • StateCO
  • Zip80234
  • Telephone(303) 250-0544
  • EIN84-1120772
  • Industry Code441110
  • Named AdministratorWilliam D Moreland

Audit Information

  • Audit StatusAudited
  • AuditorHolm Ryan Truitt Hall, LLC
  • Auditor EIN20-0159856
  • 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.
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 $541,000
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 $1,961,372
Contributions $852,436
Cash Contributions $852,436
Cash from Employers $25,000
Cash from Participants $521,375
Others (including rollovers) $306,061
Noncash Contributions $0
Total Earnings on Investments $1,106,992
Total Interest $9,537
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $6,749
Interest from Other Investments $2,788
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 $1,097,455
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 $1,944
Expenses $598,633
Total Benefit Payments $490,261
Directly to participants or beneficiaries, including direct rollovers $490,261
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $78,911
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $29,461
Professional Fees $6,663
Contract Administrator Fees $0
Investment Advisory and management fees $1,194
Other Administrative Fees $21,604
Net Income $1,362,739
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $6,756,298 $5,393,768 25.26%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $25,295 $25,757 -1.79%
Employer Contributions $25,000 $25,000 0.00%
Participant Contributions $295 $757 -61.03%
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 $177,640 $152,141 16.76%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $6,230,587 $4,936,329 26.22%
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 $322,776 $279,541 15.47%
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 $209 -100.00%
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 $209 -100.00%
Net Assets $6,756,298 $5,393,559 25.27%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Financial Life Ins Co

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
Transamerica Financial Life Ins Co Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees Recordkeeper $21,604 $0 $21,604
Retirement Planning Services, Inc Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Recordkeeping fees N/A $3,406 $456 $3,862
Total $25,010 $456 $25,466

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
Oakmark International Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,131,237
Lord Abbett Income Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $796,445
American Funds Growth Fund of Ameri Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $783,664
Pgim Total Return Bond Ret Acct Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $762,856
Transamerica Partners Large Core Re Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $756,514
Invesco Diversified Dividend Ret Ac Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $750,144
Pioneer Select Mid Cap Growth Ret A Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $360,682
Transamerica Small/Mid Cap Value Re Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $303,935
Dfa U.S. Targeted Value Portfolio R Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $289,675
Federated Mdt Small Cap Core Ret Ac Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $181,047
Dfa U.S. Small Cap Portfolio Ret Ac Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $111,151
American Century One Choice 2055 Po Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,708
American Century One Choice In Reti Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $1,237
American Century One Choice 2050 Re Transamerica Financial Life Insurance Company DFE: Pooled Separate Account $293
Total $6,230,588

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 327
EIN 36-6071399
Industry Code 70688
Contract Number 932431-000
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $322,776
Value in Separate Accounts at Year End $6,230,588
Insurance Fees and Commissions $14,713
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Woodbury Financial Services Inc 7755 3Rd St N Oakdale, MN 55128 -5442 Insurance Agent or Broker $14,713 $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 STABLE VALUE OPTION
Balance at the end of the previous year $279,541
Additions $103,300
Contributions Deposited during the year $24,406
Dividends and credits $0
Interest credited during the year $2,788
Transferred from separate account $74,089
Other $2,017
Total of Balance and Additions $382,841
Deductions $60,065
Disbursed from fund to pay benefits or purchase annuities during the year $4,767
Administration charge made by carrier $1,097
Transferred to Separate Account $46,832
Other $7,369
Balance at the end of the current year $322,776