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FORM 5500 DATA

Lagoon Corporation, Inc 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year03/01/2017 — 02/28/2018
  • Date of Plan03/31/1967
  • Net Assets as of 02/28/2018 $36,871,974
  • 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 ArrangementInsurance Trust

Participant Information as of 02/28/2018

  • Active (Eligible) Participants178
  • Retired or separated participants receiving benefits17
  • Other retired or separated participants entitled to future benefits1
  • Subtotal196
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total198
  • Total number of participants as of 03/01/2017191
  • Number of participants with account balances198
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested35

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 696
  • CityFarmington
  • StateUT
  • Zip84025
  • Telephone(801) 451-8031
  • EIN87-0201171
  • Industry Code713100

Plan Administrator Information

  • Administrator NameRetirement Committee of Lagoon Corporation
  • AddressPo Box 696
  • CityFarmington
  • StateUT
  • Zip84025-0696
  • Telephone(801) 292-2379
  • Administrator EIN62-1441579

Audit Information

  • Audit StatusAudited
  • AuditorStayner Bates, P.C.
  • Auditor EIN87-0495153
  • Audit Opinion Qualified
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of 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.

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 $1,000,000
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 $5,922,035
Contributions $1,184,798
Cash Contributions $1,184,798
Cash from Employers $915,081
Cash from Participants $269,717
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $4,737,237
Total Interest $1,438,291
Interest-Bearing Cash $119,304
U.S. Government Securities $1,318,987
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
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 $3,298,946
Real Estate $0
Other $3,298,946
Net investment gain (loss) from common/collective trusts $0
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 $0
Other Income $0
Expenses $1,273,095
Total Benefit Payments $1,270,161
Directly to participants or beneficiaries, including direct rollovers $1,270,161
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 $2,934
Professional Fees $2,934
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $4,648,940
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

02/28/2018 02/28/2017 Change YOY
Total Assets $36,873,752 $32,223,276 14.43%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $949,282 $892,379 6.38%
Employer Contributions $915,081 $851,441 7.47%
Participant Contributions $10,160 $10,309 -1.45%
Other Contributions $24,041 $30,629 -21.51%
General Investments $1,646,829 $1,857,919 -11.36%
Interest-bearing cash $1,356,956 $1,571,814 -13.67%
U.S. Government Securities $289,873 $286,105 1.32%
Corporate Debt Instruments $1,442,416 $1,598,953 -9.79%
Preferred $0 $0 0.0%
All Other $1,442,416 $1,598,953 -9.79%
Corporate Stocks $21,541,935 $18,179,504 18.50%
Preferred $0 $0 0.0%
Common $21,541,935 $18,179,504 18.50%
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 $246,117 $254,099 -3.14%
Value of interest in common/collective trusts $0 $0 0.0%
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 $10,594,389 $9,005,526 17.64%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $452,784 $434,896 4.11%
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 $1,778 $242 634.71%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $1,778 $242 634.71%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $36,871,974 $32,223,034 14.43%

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
Rbc Wealth Management Brokerage $26,061 $1,364 $27,425
U.S. Bank National Association Investment management Brokerage $0 $3,605 $3,605
Charles Schwab & Co., Inc Securities brokerage Brokerage $3,337 $0 $3,337
Charles Schwab & Co Inc Securities brokerage Brokerage $558 $0 $558
Merrill Lynch Securities brokerage Brokerage $150 $47 $197
Total $30,106 $5,016 $35,122

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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Selecthealth 242
EIN 87-0409820
Industry Code 95153
Contract Number G1006586 1001
Contract Year 03/01/2017 — 02/28/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $50,199
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Northwestern Group Marketing 5295 South Commerce Drive Murray, UT 84107 Insurance Agent or Broker $37,462 $12,737
Allocated Funds
Type of Contract Unspecified
Basis of premium rates Not Provided
Premiums paid to carrier $1,352,595
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
Standard Insurance Company 100
EIN 93-0242990
Industry Code 69019
Contract Number 611938
Contract Year 03/01/2017 — 02/28/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $2,182
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Wr Hansen 225 N Adamswood Rd Layton, UT 84040 Insurance Agent or Broker $2,182 $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 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
Standard Insurance Company 5
EIN 93-0242990
Industry Code 69019
Contract Number 611938
Contract Year 03/01/2017 — 02/28/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $690
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Wr Hansen 225 N Adamswood Rd Layton, UT 84040 Insurance Agent or Broker $690 $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 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
Selecthealth 1
EIN 87-0409820
Industry Code 95153
Contract Number G1006586 1002
Contract Year 03/01/2017 — 02/28/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 Not Provided
Premiums paid to carrier $3,476
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