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FORM 5500 DATA

NANA Regional Corporation, Inc. Compensation Deferral Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan09/01/1984
  • Net Assets as of 12/31/2018 $124,745,765
  • Plan Number333
  • 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 12/31/2018

  • Active (Eligible) Participants2,821
  • Retired or separated participants receiving benefits24
  • Other retired or separated participants entitled to future benefits1,154
  • Subtotal3,999
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits15
  • Total4,014
  • Total number of participants as of 01/01/20185,013
  • Number of participants with account balances3,168
  • 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

  • Address909 W. 9th Avenue
  • CityAnchorage
  • StateAK
  • Zip99501
  • Telephone(907) 265-4100
  • EIN92-0042024
  • Industry Code551112
  • Named AdministratorSteve Pence

Audit Information

  • Audit StatusAudited
  • AuditorRsm Us LLP
  • Auditor EIN42-0714325
  • 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? Yes $519,555
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 $10,000,000
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 $9,051,103
Contributions $14,382,351
Cash Contributions $14,382,351
Cash from Employers $1,927,290
Cash from Participants $9,645,771
Others (including rollovers) $2,809,290
Noncash Contributions $0
Total Earnings on Investments $-5,454,402
Total Interest $479,763
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $185,060
Interest from Other Investments $294,703
Total Dividends $4,617,461
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 $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 $-10,551,626
Other Income $123,154
Expenses $13,990,629
Total Benefit Payments $13,344,977
Directly to participants or beneficiaries, including direct rollovers $13,344,977
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $102,991
Certain deemed distributions of participant loans $179,624
Interest expense $0
Total Administrative Expenses $363,037
Professional Fees $61,462
Contract Administrator Fees $225,156
Investment Advisory and management fees $76,419
Other Administrative Fees $0
Net Income $-4,939,526
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 $124,829,981 $129,706,969 -3.76%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,543,926 $967,941 59.51%
Employer Contributions $1,462,247 $836,312 74.84%
Participant Contributions $81,679 $127,415 -35.90%
Other Contributions $0 $4,214 -100.00%
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 $2,692,899 $2,483,878 8.42%
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 $103,850,799 $111,017,904 -6.46%
Value of funds held in insurance co. general account $16,742,357 $15,237,246 9.88%
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 $84,216 $21,678 288.49%
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) $84,216 $21,678 288.49%
Net Assets $124,745,765 $129,685,291 -3.81%

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
Lincoln National Corporation Contract Administrator, Investment advisory (plan), Participant loan processing Service Provider $225,156 $0 $225,156
Ubs Financial Services Investment advisory (plan) Invest Mgmt $76,419 $0 $76,419
Means and Associates Consulting (general) Advisor $30,550 $0 $30,550
Accurate Accounting Solutions Accounting (including auditing) Accountant $20,415 $0 $20,415
Grant Thornton Accounting (including auditing), Consulting (general) Auditor/Advisor $10,500 $0 $10,500
Total $363,040 $0 $363,040

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

Name Position Explanation
Grant Thornton LLP Auditor Nana Issued A RFP for Benefit Plan Auditors In Summer of 2019 and Found That Rsm Responded With The Winning Bid.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Lincoln National Life Insurance Company 322
EIN 35-0472300
Industry Code 65676
Contract Number 893498-087
Contract Year 01/01/2018 — 12/31/2018
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
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 FUND
Balance at the end of the previous year $15,237,246
Additions $6,509,153
Contributions Deposited during the year $708,138
Dividends and credits $0
Interest credited during the year $294,703
Transferred from separate account $5,195,652
Other $310,660
Total of Balance and Additions $21,746,399
Deductions $5,004,042
Disbursed from fund to pay benefits or purchase annuities during the year $2,958,317
Administration charge made by carrier $16,986
Transferred to Separate Account $1,661,720
Other $367,019
Balance at the end of the current year $16,742,357