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FORM 5500 DATA

Wadhams Enterprises, Inc. Employee Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2014 — 12/31/2014
  • Date of Plan11/01/1991
  • Net Assets as of 12/31/2014 $15,299,415
  • 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 12/31/2014

  • Active (Eligible) Participants490
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits71
  • Subtotal563
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total563
  • Total number of participants as of 01/01/2014603
  • Number of participants with account balances383
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested32

Expenses

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

Sponsor Information

  • Address369 Bostwick Rd
  • CityPhelps
  • StateNY
  • Zip14532-9309
  • Telephone(315) 789-8871
  • EIN16-1397441
  • Industry Code484120
  • Named AdministratorWilliam Skinner

Audit Information

  • Audit StatusAudited
  • AuditorFreed Maxick CPA's Pc
  • Auditor EIN45-4051133
  • 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.
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 $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 $2,129,643
Contributions $1,273,406
Cash Contributions $1,273,406
Cash from Employers $174,839
Cash from Participants $967,634
Others (including rollovers) $130,933
Noncash Contributions $0
Total Earnings on Investments $856,237
Total Interest $17,849
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $17,849
Interest from Other Investments $0
Total Dividends $690,580
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 $20,129
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 $127,679
Other Income $0
Expenses $1,830,471
Total Benefit Payments $1,743,211
Directly to participants or beneficiaries, including direct rollovers $1,743,211
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 $87,260
Professional Fees $0
Contract Administrator Fees $18,037
Investment Advisory and management fees $67,048
Other Administrative Fees $2,175
Net Income $299,172
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2014 12/31/2013 Change YOY
Total Assets $15,299,415 $15,000,243 1.99%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $47,764 $39,689 20.35%
Employer Contributions $7,420 $6,534 13.56%
Participant Contributions $40,344 $33,155 21.68%
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 $560,372 $395,916 41.54%
Value of interest in common/collective trusts $2,271,339 $2,416,087 -5.99%
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 $12,419,940 $12,148,551 2.23%
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 $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 $15,299,415 $15,000,243 1.99%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Benefit Plans Admin Services, Inc.
  • Fidelity Investment Institutional S
  • Loomis Sayles
  • Allianz Global Investors Distributo
  • Pimco
  • Vanguard Group
  • T. Rowe Price Associates
  • American Funds Service Company
  • Dfa Dimensional
  • Federated Services Company
  • Harbor Funds
  • Doubleline Capital Lp

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
James P Reagan Agency Investment advisory (plan), Investment management, Other services, Investment management fees paid directly by plan N/A $53,127 $0 $53,127
Benefit Plans Admin Services Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Custodial (securities), Participant loan processing, Direct payment from the plan, Other fees N/A $34,133 $0 $34,133
Total $87,260 $0 $87,260

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
Federated Capital Preservation Fund Federated Investors DFE: Common/Collective Trust $2,271,339
Total $2,271,339

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.