Back to top
FORM 5500 DATA

Ocean Beauty Seafoods, LLC 401k Savings Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan04/01/1987
  • Net Assets as of 12/31/2018 $31,721,215
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2018

  • Active (Eligible) Participants674
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits85
  • Subtotal759
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total759
  • Total number of participants as of 01/01/2018695
  • Number of participants with account balances337
  • 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

  • AddressPo Box 70739
  • CitySeattle
  • StateWA
  • Zip98127-1539
  • Telephone(206) 285-6800
  • EIN20-8899430
  • Industry Code311710
  • Named AdministratorTony Ross

Audit Information

  • Audit StatusAudited
  • AuditorClark Nuber, Ps
  • Auditor EIN91-1194016
  • 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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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 $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 $524,180
Contributions $1,913,689
Cash Contributions $1,913,689
Cash from Employers $318,947
Cash from Participants $1,594,742
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-1,350,662
Total Interest $66,314
Interest-Bearing Cash $344
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $20,091
Interest from Other Investments $45,879
Total Dividends $1,147,371
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 $74,024
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 $-2,638,371
Other Income $-38,847
Expenses $3,691,825
Total Benefit Payments $3,516,757
Directly to participants or beneficiaries, including direct rollovers $3,516,757
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $114,788
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $60,280
Professional Fees $20,280
Contract Administrator Fees $0
Investment Advisory and management fees $40,000
Other Administrative Fees $0
Net Income $-3,167,645
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 $31,743,685 $34,889,172 -9.02%
Total noninterest-bearing cash $23,867 $64,160 -62.80%
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 $63,287 $17,977 252.04%
Interest-bearing cash $63,287 $17,977 252.04%
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 $432,428 $360,108 20.08%
Value of interest in common/collective trusts $4,743,912 $4,823,418 -1.65%
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 $25,394,484 $28,330,659 -10.36%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $1,085,707 $1,292,850 -16.02%
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 $22,470 $312 7101.92%
Benefit Claims Payable (1) $22,395 $0 0.0%
Operating Payables (1) $75 $100 -25.00%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $212 0.0%
Net Assets $31,721,215 $34,888,860 -9.08%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Charles Schwab Inv. Managment, 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
Usi Advisors, Inc. Investment advisory (participants), Investment advisory (plan), Investment management fees paid directly by plan NONE $40,000 $0 $40,000
Usi Consulting Group, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan NONE $20,281 $0 $20,281
Charles Schwab Bank/ Trust Company Custodial (other than securities), Custodial (securities), Investment management fees paid indirectly by plan, Shareholder servicing fees, Float revenue NONE $0 $15,764 $15,764
Charles Schwab & Co., Inc. Custodial (other than securities), Custodial (securities), Shareholder servicing fees NONE $459 $0 $459
Total $60,740 $15,764 $76,504

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Charles Schwab & Co., Inc. Gartmore Custodial (other than securities), Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Metropolitan West Funds Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. MFS Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Nuveen Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Oppenheimer Funds Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Pioneer Investments Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Putnam Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Victory Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $0
Charles Schwab & Co., Inc. Schwab Funds Custodial (securities), Shareholder servicing fees Shareholder Servicing; Rate of 0.25% of Average Daily Balance of Asset(S). $0
Charles Schwab & Co., Inc. U.S. Global Custodial (securities), Shareholder servicing fees Shareholder Servicing; Rate of 0.40% of Average Daily Balance of Asset(S). $0
Charles Schwab Bank/ Trust Company American Funds Custodial (securities), Shareholder servicing fees Shareholder Servicing; Range of 0.00 - 0.02% of Average Daily Balance of Assets. $1,975
Charles Schwab Bank/ Trust Company Gartmore Custodial (securities), Shareholder servicing fees, Custodial (other than securities) Shareholder Servicing Paying Directed Trustee/Custodial Services $2,749
Charles Schwab Bank/ Trust Company Putnam Custodial (securities), Shareholder servicing fees Shareholder Servicing Paying Directed Trustee/Custodial Services $5,512
Charles Schwab Bank/ Trust Company Pioneer Investments Custodial (securities), Shareholder servicing fees Shareholder Servicing Paying Directed Trustee/Custodial Services $2,368
*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.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Morley Stable Value Fund Principal Global Investors Trust Company DFE: Common/Collective Trust $4,743,912
Total $4,743,912

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.