Back to top
FORM 5500 DATA

R.L. Jordan Oil Company of NC, Inc. 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year10/01/2017 — 09/30/2018
  • Date of Plan06/30/1969
  • Net Assets as of 09/30/2018 $1,777,373
  • 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 Arrangement Trust

Participant Information as of 09/30/2018

  • Active (Eligible) Participants377
  • Retired or separated participants receiving benefits8
  • Other retired or separated participants entitled to future benefits17
  • Subtotal402
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total402
  • Total number of participants as of 10/01/2017353
  • Number of participants with account balances163
  • 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

  • AddressPost Office Box 2527
  • CitySpartanburg
  • StateSC
  • Zip29304
  • Telephone(864) 585-2784
  • EIN56-1999845
  • Industry Code447100

Audit Information

  • Audit StatusAudited
  • AuditorCherry Bekaert, LLP
  • Auditor EIN56-0574444
  • 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.
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? 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 $200,000
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 $317,021
Contributions $204,834
Cash Contributions $204,834
Cash from Employers $0
Cash from Participants $204,834
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $112,204
Total Interest $0
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 $0
Total Dividends $20
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 $67,355
Net investment gain (loss) from pooled separate accounts $38,073
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 $6,756
Other Income $-17
Expenses $218,472
Total Benefit Payments $209,803
Directly to participants or beneficiaries, including direct rollovers $209,803
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 $8,669
Professional Fees $0
Contract Administrator Fees $6,623
Investment Advisory and management fees $0
Other Administrative Fees $2,046
Net Income $98,549
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2018 09/30/2017 Change YOY
Total Assets $1,777,373 $1,684,628 5.51%
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 $1,453,425 $1,367,267 6.30%
Value of interest in pooled separate accounts $254,701 $317,361 -19.74%
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 $69,247 $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 $5,804 -100.00%
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 $5,804 -100.00%
Net Assets $1,777,373 $1,678,824 5.87%

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
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $8,669 $0 $8,669
Wilshire Associates Incorporated Investment advisory (plan), Other investment fees and expenses Investment Advisory $0 $0 $0
Total $8,669 $0 $8,669

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Wilshire Associates Incorporated R. L. Jordan Oil Company of Nc, Inc Investment advisory (plan), Other investment fees and expenses 1 Basis Point Annually On Total Plan Assets In Wilshire's 3(21) Investment Fiduciary Service Per Client's Signed Agreement With Wilshire. $0
*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
Principal Lifetime Hybr 2030 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $426,760
Principal Lifetime Hybr 2020 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $418,912
Principal Stable Value Sgnture Principal Life Insurance Company DFE: Common/Collective Trust $243,214
Principal Lifetime Hybr 2050 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $149,083
Principal Lgcap S&P 500 Index Sa-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $133,480
Principal Lifetime Hybr 2040 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $124,525
Principal Equity Income Sa-R2 Principal Life Insurance Company DFE: Pooled Separate Account $35,877
Principal Midcap S&P 400 Idx Sa-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $28,159
Principal Midcap Growth Sep Acct-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $27,195
Principal Life Time Hybr 2060 Cit R Principal Global Investors Trust Co DFE: Common/Collective Trust $20,107
Principal Lifetime Hybr 2025 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $18,108
Principal Lifetime Hybr 2045 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $15,558
Principal Lifetime Hybr 2035 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $12,852
Principal Small Cap Sep Acct-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $10,902
Principal Real Estate Secs Sa-R2 Principal Life Insurance Company DFE: Common/Collective Trust $9,128
Principal Life Time Hybrinc Cit R2 Principal Global Investors Trust Co DFE: Pooled Separate Account $8,643
Principal Lifetime Hybr 2010 Cit R2 Principal Global Investors Trust Co DFE: Common/Collective Trust $8,135
Principal Income Sep Acct-R2 Principal Global Investors Trust Co DFE: Pooled Separate Account $7,527
Principal Midcap Value III Sa-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $4,379
Principal Diversified Intl Sa-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $3,027
Principal Smcap S&P 600 Index Sa-R2 Principal Life Insurance Comoany DFE: Common/Collective Trust $2,554
Total $1,708,125

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Comoany 338
EIN 42-0127290
Industry Code 61271
Contract Number 804289
Contract Year 10/01/2017 — 09/30/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $254,701
Insurance Fees and Commissions $815
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Raymond James Insurance Group, Inc Agent or Broker other than Insurance $584 $0
Nfp Insurance Services, Inc 12050 S Capital of Texas, Hwy Bldg2 Wlake Hills, TX 78746 -6446 Insurance Agent or Broker $101 $0
Wlr & Associates 5500 77 Center Drive Suite 150 Charlotte, NC 28217 Insurance Agent or Broker $0 $101 REFERRAL/ SERVICE FEE
Loren D Stark Company 10750 Rockley Road Houston, TX 77099 -3516 Third Party Administrator $0 $29 REFERRAL/ SERVICE FEE
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