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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan03/01/1995
  • Net Assets as of 12/31/2019 $4,459,708
  • 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? No
  • Plan Funding ArrangementInsurance
  • Plan Benefit ArrangementInsurance

Participant Information as of 12/31/2019

  • Active (Eligible) Participants252
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits14
  • Subtotal266
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total266
  • Total number of participants as of 01/01/2019231
  • Number of participants with account balances223
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested9

Expenses

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

Sponsor Information

  • Address2300 Highway 79 S
  • CityGuntersville
  • StateAL
  • Zip35976-2220
  • Telephone(256) 264-9400
  • EIN90-0142088
  • Industry Code448140
  • Named AdministratorSarah Stanford

Audit Information

  • Audit StatusAudited
  • AuditorKellum, Wilson & Associates, P.C.
  • Auditor EIN63-0910369
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.

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 $345,095
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 $1,163,044
Contributions $480,924
Cash Contributions $480,924
Cash from Employers $43,259
Cash from Participants $437,665
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $682,120
Total Interest $6,771
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $6,771
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 $675,349
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 $154,284
Total Benefit Payments $151,631
Directly to participants or beneficiaries, including direct rollovers $151,631
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 $2,653
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $2,653
Net Income $1,008,760
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 $4,459,708 $3,450,948 29.23%
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 $0 $0 0.0%
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 $3,750,966 $2,917,942 28.55%
Value of funds held in insurance co. general account $708,742 $533,006 32.97%
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 $4,459,708 $3,450,948 29.23%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments
  • Vanguard
  • DWS
  • Invesco Oppenheimer
  • American Century Investments
  • Calvert
  • American Funds
  • Pimco
  • T. Rowe Price
  • MFS
  • Victory Funds
  • Neuberger Berman

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
Mutual of America Investment Corp Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Account maintenance fees Insurance Carrier $1,789 $0 $1,789
Principal Life Insurance Company Contract Administrator, Direct payment from the plan, Recordkeeping fees Contract Administrator $863 $0 $863
Total $2,652 $0 $2,652

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
Separate Account Number Fs1 Mutual of America DFE: Pooled Separate Account $3,750,966
Total $3,750,966

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Mutual of America 266
EIN 13-1614399
Industry Code 88668
Contract Number 061564J
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $494,373
Value in Separate Accounts at Year End $3,750,966
Insurance Fees and Commissions $13,538
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Nashville Regional Office Highland Ridge II 555 Marriott Driv Nashville, TN 37214 -5108 Insurance Agent or Broker $0 $13,538 PORTION OF INCENTIVE COMP. PROGRAM
Allocated Funds
Type of Contract Unspecified
Basis of premium rates N/A
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 Deposit Administration
Balance at the end of the previous year $272,549
Additions $227,335
Contributions Deposited during the year $55,314
Dividends and credits $0
Interest credited during the year $6,772
Transferred from separate account $165,249
Other $0
Total of Balance and Additions $499,884
Deductions $5,511
Disbursed from fund to pay benefits or purchase annuities during the year $5,406
Administration charge made by carrier $105
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $494,373
Principal Life Insurance Company 34
EIN 42-0127290
Industry Code 61271
Contract Number 417757
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $165,294
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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $226,011
Additions $2,556
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $2,556
Transferred from separate account $0
Other $0
Total of Balance and Additions $228,567
Deductions $60,549
Disbursed from fund to pay benefits or purchase annuities during the year $10,611
Administration charge made by carrier $864
Transferred to Separate Account $0
Other $49,074
Balance at the end of the current year $168,018