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Western Psychological & Counseling Services, P.C.

Plan Rating
FORM 5500 DATA

Western Psychological & Counseling Services, P.C. 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan07/01/1994
  • Net Assets as of 12/31/2019 $13,381,274
  • 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 12/31/2019

  • Active (Eligible) Participants288
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits41
  • Subtotal329
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total332
  • Total number of participants as of 01/01/2019350
  • Number of participants with account balances260
  • 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

  • AddressP.O. Box 82819
  • CityPortland
  • StateOR
  • Zip97282
  • Telephone(503) 233-5405
  • EIN93-0921282
  • Industry Code621330
  • Named AdministratorDaryl Quick

Audit Information

  • Audit StatusAudited
  • AuditorCarnegie Accounting, LLP
  • Auditor EIN46-5607846
  • 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.

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 $500,000
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 $4,285,509
Contributions $1,993,512
Cash Contributions $1,993,512
Cash from Employers $600,602
Cash from Participants $1,152,430
Others (including rollovers) $240,480
Noncash Contributions $0
Total Earnings on Investments $2,291,997
Total Interest $13,818
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $13,818
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 $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $2,278,179
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 $330,780
Total Benefit Payments $262,205
Directly to participants or beneficiaries, including direct rollovers $262,205
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 $68,575
Professional Fees $0
Contract Administrator Fees $34,188
Investment Advisory and management fees $34,387
Other Administrative Fees $0
Net Income $3,954,729
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 $13,381,274 $9,426,569 41.95%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $16,560 $7,673 115.82%
Employer Contributions $16,560 $7,670 115.91%
Participant Contributions $0 $3 -100.00%
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 $201,429 $235,024 -14.29%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $13,163,285 $9,183,872 43.33%
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 $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 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 $24 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 $24 0.0%
Net Assets $13,381,274 $9,426,545 41.95%

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
Preisz Associates, Inc. Investment advisory (participants) Advisor $34,386 $0 $34,386
John Hancock USA Recordkeeping and information management (computing, tabulating, data processing, etc.) NONE $1,763 $0 $1,763
Total $36,149 $0 $36,149

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
Jh Multimanager 2035 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $1,370,455
500 Index Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $1,126,406
Vanguard Growth Index Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $882,195
Jh Multimanager 2025 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $874,068
Jh Multi-Index Ls Growth John Hancock Life Ins Co USA DFE: Pooled Separate Account $847,451
Jh Multimanager 2040 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $767,107
Jh Multimanager 2030 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $753,109
Jh Multimanager 2045 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $595,701
Fidelity Mid Cap Index Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $566,640
Money Market Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $565,384
Vanguard Value Index Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $549,643
Jh Multimanager 2020 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $402,530
Jh Multimanager 2015 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $372,165
Vanguard Explorer Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $341,510
Jh Multimanager 2050 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $337,118
Hartford Midcap Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $328,218
Jh Multi-Index Ls Balanced John Hancock Life Ins Co USA DFE: Pooled Separate Account $322,344
Federated High Yield Bond John Hancock Life Ins Co USA DFE: Pooled Separate Account $300,493
Fidelity Advisor Total Bond John Hancock Life Ins Co USA DFE: Pooled Separate Account $269,780
Tiaa-Cref Small-Cap Blend Idx John Hancock Life Ins Co USA DFE: Pooled Separate Account $248,079
Jh Multi-Index Ls Aggressive John Hancock Life Ins Co USA DFE: Pooled Separate Account $245,247
Jh Multimanager 2055 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $239,058
Europacific Growth Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $191,108
Invesco Opp Developing Mkt John Hancock Life Ins Co USA DFE: Pooled Separate Account $120,717
Jh Multimanager 2060 Lifetime John Hancock Life Ins Co USA DFE: Pooled Separate Account $110,677
Dfa Us Targeted Value Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $107,717
Jh Multi-Index Ls Moderate John Hancock Life Ins Co USA DFE: Pooled Separate Account $93,451
Jh Multi-Index Ls Conserv John Hancock Life Ins Co USA DFE: Pooled Separate Account $86,013
Vanguard Mid-Cap Value Etf John Hancock Life Ins Co USA DFE: Pooled Separate Account $63,479
Vanguard Total Intl Stock Idx John Hancock Life Ins Co USA DFE: Pooled Separate Account $52,461
Vanguard Total Bond Market Idx John Hancock Life Ins Co USA DFE: Pooled Separate Account $21,699
Dfa International Value John Hancock Life Ins Co USA DFE: Pooled Separate Account $11,033
Real Est. Securities Fund John Hancock Life Ins Co USA DFE: Pooled Separate Account $231
Total $13,163,287

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
John Hancock Life Insurance Company (USA) 271
EIN 01-0233346
Industry Code 65838
Contract Number 104185
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $13,163,285
Insurance Fees and Commissions $8,786
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Premier Retirement Services, Inc. Suite 204 Wilsonville, OR 97267 Third Party Administrator $5,686 $3,100
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