Back to top
FORM 5500 DATA

Simpson Construction Company, Inc., Profit Sharing Plan

Overview

Plan Information

  • Plan Year07/01/2014 — 06/30/2015
  • Date of Plan07/01/1971
  • Net Assets as of 06/30/2015 $9,326,426
  • 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 06/30/2015

  • Active (Eligible) Participants145
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits186
  • Subtotal333
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total333
  • Total number of participants as of 07/01/2014349
  • Number of participants with account balances319
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested6

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address178 Durkee Road N.E.
  • CityCleveland
  • StateTN
  • Zip37323
  • Telephone(423) 472-4553
  • EIN62-0679614
  • Industry Code238100
  • Named AdministratorSharon Bowen

Audit Information

  • Audit StatusAudited
  • AuditorMarcum LLP
  • Auditor EIN11-1986323
  • 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.
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 $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? Yes
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? Yes

Financials

Income and Expense Statement

Income $147,028
Contributions $248
Cash Contributions $248
Cash from Employers $248
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $144,066
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 $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 $21,599
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 $122,467
Other Income $2,714
Expenses $1,114,507
Total Benefit Payments $1,080,395
Directly to participants or beneficiaries, including direct rollovers $1,080,395
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 $34,112
Professional Fees $0
Contract Administrator Fees $34,112
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-967,479
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2015 06/30/2014 Change YOY
Total Assets $9,326,426 $10,294,005 -9.40%
Total noninterest-bearing cash $9,445 $0 0.0%
Receivables $0 $22,120 -100.00%
Employer Contributions $0 $22,120 -100.00%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $18,216 -100.00%
Interest-bearing cash $0 $18,216 -100.00%
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 $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 $0 $9,828,828 -100.00%
Value of funds held in insurance co. general account $0 $424,841 -100.00%
Other Investments $9,316,981 $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 $100 -100.00%
Benefit Claims Payable (1) $0 $100 -100.00%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $9,326,426 $10,293,905 -9.40%

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
Suntrust Banks, Inc. Trustee (bank, trust company, or similar financial institution) Trustee $33,562 $0 $33,562
Total $33,562 $0 $33,562

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
Map Contract Separate Account D Ing Life and Insurance Company DFE: Pooled Separate Account $0
Total $0

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Ing Life Insurance and Annuity Company 0
EIN 71-0294708
Industry Code 86509
Contract Number 872270
Contract Year 07/01/2014 — 09/30/2014
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 GROUP PENSION FUNDING
Balance at the end of the previous year $424,841
Additions $21,945
Contributions Deposited during the year $347
Dividends and credits $0
Interest credited during the year $21,598
Transferred from separate account $0
Other $0
Total of Balance and Additions $446,786
Deductions $446,786
Disbursed from fund to pay benefits or purchase annuities during the year $3,500
Administration charge made by carrier $23
Transferred to Separate Account $0
Other $443,263
Balance at the end of the current year $0