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Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan06/01/2004
  • Net Assets as of 12/31/2015 $1,879,585
  • 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? No
  • Plan Funding ArrangementInsurance
  • Plan Benefit ArrangementInsurance

Participant Information as of 12/31/2015

  • Active (Eligible) Participants109
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits2
  • Subtotal111
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total111
  • Total number of participants as of 01/01/2015127
  • Number of participants with account balances54
  • 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

  • Address3494 North Hwy 301
  • CityWildwood
  • StateFL
  • Zip34785
  • Telephone(352) 748-1454
  • EIN59-1584701
  • Industry Code238220
  • Named AdministratorDebra Wallace
  • Named Plan SponsorDebra Wallace

Audit Information

  • Audit StatusAudited
  • AuditorMixner & Company
  • Auditor EIN59-2710947
  • 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.
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? 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 $20,000
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 $301,491
Contributions $340,487
Cash Contributions $340,487
Cash from Employers $113,784
Cash from Participants $204,763
Others (including rollovers) $21,940
Noncash Contributions $0
Total Earnings on Investments $-38,008
Total Interest $160
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 $160
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 $-38,168
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 $-988
Expenses $15,574
Total Benefit Payments $13,045
Directly to participants or beneficiaries, including direct rollovers $13,045
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 $2,529
Professional Fees $0
Contract Administrator Fees $2,529
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $285,917
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $1,879,585 $1,593,668 17.94%
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 $0 $0 0.0%
Value of interest in pooled separate accounts $1,800,805 $1,536,283 17.22%
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 $78,780 $57,385 37.28%
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 $1,879,585 $1,593,668 17.94%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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, Direct payment from the plan, Recordkeeping fees Contract Administrator $2,529 $0 $2,529
Total $2,529 $0 $2,529

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
Prin Largecap Growth II Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $318,207
Prin Midcap Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $199,811
Prin Lifetime Strat Inc Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $138,072
Prin Capital Appr Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $128,793
Prin Income Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $122,028
Prin High Yield I Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $113,612
Prin Smcap S&P 600 Index Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $112,339
Prin Lifetime 2030 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $68,746
Prin Lifetime 2050 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $67,432
Prin Lifetime 2035 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $66,516
Prin Lifetime 2020 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $58,145
Prin Lifetime 2040 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $57,393
Prin Sam Cons Growth Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $55,818
Prin Sam Balanced Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $47,717
Prin Equity Income Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $40,909
Principal Bond Mkt Index Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $40,556
Prin Lifetime 2025 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $29,857
Prin Midcap Value III Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $19,535
Prin Lifetime 2045 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $15,221
Prin Real Estate Secs Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $14,256
Prin Sam Cons Balanced Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $13,016
Prin Lifetime 2010 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $12,979
Prin Sam Strat Growth Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $10,531
Prin Smallcap Value II Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $9,397
Prin Core Plus Bond Sep Act-R1 Principal Life Insurance Company DFE: Pooled Separate Account $9,280
Prin Diversified Intl Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $8,592
Prin Largecap Value III Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $7,432
Prin Intl Emerg Markets Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $6,338
Prin Lifetime 2055 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $4,008
Prin Midcap Growth III Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $3,916
Prin Lifetime 2015 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $352
Prin Intl Equity Index Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lgcap S&P 500 Index Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Sam Flexible Income Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Midcap S&P 400 Idx Sa-R1 Principal Life Insurance Company DFE: Pooled Separate Account $0
Prin Lifetime 2060 Sep Acct-R1 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $1,800,804

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 111
EIN 42-0127290
Industry Code 61271
Contract Number 457799
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $78,780
Value in Separate Accounts at Year End $1,800,805
Insurance Fees and Commissions $12,521
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Merrill Lynch Life Agency Inc Attn Insurance Ops Jacksonville, FL 32246 Insurance Agent or Broker $11,844 $0
Merrill Lynch Pierce Fenner & Smith Attn Insurance Ops Jacksonville, FL 32246 -6484 Insurance Agent or Broker $0 $677 PRORATED INCENTIVE, NOT DEDUCTED FROM 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 FLEXIBLE INVESTMENT ANNUITY
Balance at the end of the previous year $57,473
Additions $26,719
Contributions Deposited during the year $9,007
Dividends and credits $0
Interest credited during the year $160
Transferred from separate account $0
Other $17,552
Total of Balance and Additions $84,192
Deductions $4,336
Disbursed from fund to pay benefits or purchase annuities during the year $312
Administration charge made by carrier $134
Transferred to Separate Account $3,890
Other $0
Balance at the end of the current year $79,856