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Universal Industrial Sales 401k Retirement Savings Plan


Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/2001
  • Net Assets as of 12/31/2018 $3,066,619
  • 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 12/31/2018

  • Active (Eligible) Participants152
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits11
  • Subtotal163
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total163
  • Total number of participants as of 01/01/2018181
  • Number of participants with account balances78
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address433 North 1030 West
  • CityLindon
  • StateUT
  • Zip84042
  • Telephone(801) 785-6244
  • EIN87-0458991
  • Industry Code332300
  • Named AdministratorLeighton Jensen

Audit Information

  • Audit StatusAudited
  • AuditorTraveller & Company
  • Auditor EIN87-0668060
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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 $43
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 $400,000
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? Yes $8,530
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


Income and Expense Statement

Income $362,538
Contributions $614,770
Cash Contributions $614,770
Cash from Employers $158,469
Cash from Participants $261,970
Others (including rollovers) $194,331
Noncash Contributions $0
Total Earnings on Investments $-252,232
Total Interest $1,039
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $1,039
Interest from Other Investments $0
Total Dividends $173,819
Preferred Stock $173,819
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $-427,090
Aggregate Proceeds $-427,090
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 $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 $117,767
Total Benefit Payments $113,033
Directly to participants or beneficiaries, including direct rollovers $113,033
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $434
Interest expense $0
Total Administrative Expenses $4,300
Professional Fees $0
Contract Administrator Fees $4,300
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $244,771
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $3,066,619 $2,821,848 8.67%
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 $34,699 $18,635 86.20%
Value of interest in common/collective trusts $635,253 $335,221 89.50%
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 $2,348,622 $2,409,582 -2.53%
Value of funds held in insurance co. general account $48,045 $58,410 -17.75%
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 $3,066,619 $2,821,848 8.67%

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
Resources Investment Advisors Investment advisory (plan) Investment Advisor $7,448 $0 $7,448
Dwc Erisa Consultants LLC Contract Administrator Contract Admin $850 $2,032 $2,882
Great-West Life & Annuity Insurance Recordkeeping fees Recordkeeper $2,793 $0 $2,793
Empower Retirement Advisory Service Investment management Investment Mgmt $1,657 $0 $1,657
Hcs Retirement Services LLC Contract Administrator Contract Admin $255 $948 $1,203
Total $13,003 $2,980 $15,983

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Dwc Erisa Consultants LLC Dba Dwc Great-West Life & Annuity Insurance Contract Administrator Tpa Allowance Payment $2,032
Hcs Retirement Services LLC Great-West Life & Annuity Insurance Contract Administrator Tpa Allowance Payment $948
*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.



Name of Investment Investment Manager Type of Investment Dollar Value
Putnam Retirement Advantage 2025 V Putnam Investments DFE: Common/Collective Trust $209,787
Putnman Retirement Advantage 2045 V Putnam Investments DFE: Common/Collective Trust $205,822
Putnam Retirement Advantage 2035 V Putnam Investments DFE: Common/Collective Trust $74,091
Putnam Retirement Advantage 2030 V Putnam Investements DFE: Common/Collective Trust $56,526
Putnam Retirement Advantage 2040 V Putnam Investments DFE: Common/Collective Trust $49,669
Putnam Retirement Advantage 2050 V Putnman Investments DFE: Common/Collective Trust $17,037
Putnman Retirement Advantage 2055 V Putnmam Investments DFE: Common/Collective Trust $16,530
Putnam Retirement Advantage 2020 V Putnam Investments DFE: Common/Collective Trust $5,791
Total $635,253

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great-West Life & Annuity Insurance Company 16
EIN 84-0467907
Industry Code 68322
Contract Number 374647-01
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $48,045
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
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 GROUP ANNUITY
Balance at the end of the previous year $58,410
Additions $6,201
Contributions Deposited during the year $1,830
Dividends and credits $0
Interest credited during the year $628
Transferred from separate account $3,743
Other $0
Total of Balance and Additions $64,611
Deductions $16,567
Disbursed from fund to pay benefits or purchase annuities during the year $3,868
Administration charge made by carrier $115
Transferred to Separate Account $12,584
Other $0
Balance at the end of the current year $48,044