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Overview

Plan Information

  • Plan Year01/01/2009 — 12/31/2009
  • Date of Plan01/01/2000
  • Net Assets as of 12/31/2009 $14,609,089
  • Plan Number2
  • 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 12/31/2009

  • Active (Eligible) Participants437
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits121
  • Subtotal558
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total558
  • Total number of participants as of 01/01/2009694
  • Number of participants with account balances424
  • 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

  • Address4019 21st Avenue West
  • CitySeattle
  • StateWA
  • Zip98199
  • Telephone(206) 282-0988
  • EIN92-0032180
  • Industry Code311710
  • Named AdministratorDeborah A. Larsen
  • Named Plan SponsorDeborah A. Larsen

Plan Administrator Information

  • Administrator NameIcicle Seafoods, Inc.
  • Address4019 21st Avenue West
  • CitySeattle
  • StateWA
  • Zip98199
  • Telephone(206) 282-0988
  • Administrator EIN92-0032180

Audit Information

  • Audit StatusAudited
  • AuditorMoss Adams LLP
  • Auditor EIN91-0189318
  • 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.

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 $10,187,842
Contributions $9,108,614
Cash Contributions $9,108,614
Cash from Employers $505,929
Cash from Participants $1,030,631
Others (including rollovers) $7,572,054
Noncash Contributions $0
Total Earnings on Investments $1,079,228
Total Interest $9,547
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $9,547
Interest from Other Investments $0
Total Dividends $176,414
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 $10,135
Net investment gain (loss) from pooled separate accounts $-126,309
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 $1,009,441
Other Income $0
Expenses $855,590
Total Benefit Payments $812,020
Directly to participants or beneficiaries, including direct rollovers $812,020
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 $43,570
Professional Fees $13,144
Contract Administrator Fees $24,983
Investment Advisory and management fees $5,443
Other Administrative Fees $0
Net Income $9,332,252
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2009 12/31/2008 Change YOY
Total Assets $14,609,089 $5,276,837 176.85%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $551,427 $532,101 3.63%
Employer Contributions $505,929 $526,457 -3.90%
Participant Contributions $45,100 $5,644 699.08%
Other Contributions $398 $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) $232,563 $134,745 72.59%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $935,326 $0 0.0%
Value of interest in pooled separate accounts $281,811 $4,310,227 -93.46%
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 $12,607,962 $178,227 6974.10%
Value of funds held in insurance co. general account $0 $121,537 0.0%
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 $14,609,089 $5,276,837 176.85%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Charles Schwab Trust Company
  • Northwest Plan Services, Inc.

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
Northwest Plan Services, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (general), Participant loan processing, Participant communication, Recordkeeping fees, Account maintenance fees NONE $21,817 $0 $21,817
Moss Adams Accounting (including auditing), Direct payment from the plan NONE $13,144 $0 $13,144
Ra Bench Investment advisory (participants), Investment advisory (plan), Participant communication, Direct payment from the plan NONE $5,443 $0 $5,443
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees NONE $1,274 $0 $1,274
Total $41,678 $0 $41,678

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
Morley Stable Value Fund Union Bond & Trust Co. DFE: Common/Collective Trust $935,326
Principal Us Property Sep Acct R4 Principal Life Insurance Company DFE: Pooled Separate Account $281,811
Principal Life Tm 2050 Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lifetm Str Inc. Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Small Cap Value I Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Large Cap Growth Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Small Cap Growth Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Small Cap S&P 600 Index Sep R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Large Cap Value I Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Diversified Intl Sa R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Life Tm 2040 Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Life Tm 2030 Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Bond and Mtg Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lgcp S&P 500 Index Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Mid Cap S&P 400 Index Sep R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lg Cap Growth I Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lg Cap Value III Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Sm Cap Growth II Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Life Tm 2010 Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Life Tm 2020 Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Principal Money Mkt Sep Acct R2 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $1,217,137

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 97
EIN 42-0127290
Industry Code 61271
Contract Number 4-50902
Contract Year 01/01/2009 — 12/31/2009
Value in General Account at Year End $0
Value in Separate Accounts at Year End $281,811
Insurance Fees and Commissions $3,197
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Rab Agency 1301 5th Ave Seattle, WA 98101 Insurance Agent or Broker $3,197 $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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $121,537
Additions $26,666
Contributions Deposited during the year $12,033
Dividends and credits $0
Interest credited during the year $1,715
Transferred from separate account $12,325
Other $593
Total of Balance and Additions $148,203
Deductions $148,203
Disbursed from fund to pay benefits or purchase annuities during the year $9,794
Administration charge made by carrier $644
Transferred to Separate Account $0
Other $137,765
Balance at the end of the current year $0