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Wadsworth Brothers Construction Company, Inc. Profit Sharing Plan


Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/2004
  • Net Assets as of 12/31/2018 $11,794,581
  • Plan Number3
  • 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) Participants188
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits124
  • Subtotal314
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total314
  • Total number of participants as of 01/01/2018292
  • Number of participants with account balances312
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address1350 East Draper Parkway
  • CityDraper
  • StateUT
  • Zip84020
  • Telephone(801) 576-1453
  • EIN87-0484162
  • Industry Code237310
  • Named AdministratorGuy. L Wadsworth

Plan Administrator Information

  • Administrator NameWadsworth Brothers Construction Company, Inc.
  • Address1350 East Draper Parkway
  • CityDraper
  • StateUT
  • Zip84020
  • Telephone(801) 576-1453
  • Administrator EIN87-0484162

Audit Information

  • Audit StatusAudited
  • AuditorShields & Company, CPA's
  • Auditor EIN87-0466607
  • Audit OpinionUnqualified
  • Audit Type Full 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.

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


Income and Expense Statement

Income $753,182
Contributions $1,230,091
Cash Contributions $1,230,091
Cash from Employers $1,230,091
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-476,909
Total Interest $169,696
Interest-Bearing Cash $19,864
U.S. Government Securities $1,820
Corporate Debt Instruments $108,557
Loans (other than to participants) $0
Participant Loans $36,230
Interest from Other Investments $3,225
Total Dividends $102,421
Preferred Stock $0
Common Stock $102,421
Rents $0
Net gain (loss) on sale of assets $-21,217
Aggregate Proceeds $10,425,087
Aggregate Carrying Amount $10,446,304
Total Unrealized Appreciation (depreciation) of assets $-604,465
Real Estate $0
Other $-604,465
Net investment gain (loss) from common/collective trusts $0
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 $-123,344
Other Income $0
Expenses $657,555
Total Benefit Payments $643,152
Directly to participants or beneficiaries, including direct rollovers $643,152
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 $14,403
Professional Fees $0
Contract Administrator Fees $6,107
Investment Advisory and management fees $8,075
Other Administrative Fees $221
Net Income $95,627
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 $11,794,637 $11,699,401 0.81%
Total noninterest-bearing cash $358,895 $353,086 1.65%
Receivables $419,972 $311,985 34.61%
Employer Contributions $419,972 $311,985 34.61%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $1,018,935 $1,126,805 -9.57%
Interest-bearing cash $918,938 $1,026,845 -10.51%
U.S. Government Securities $99,997 $99,960 0.04%
Corporate Debt Instruments $2,527,511 $1,968,754 28.38%
Preferred $0 $0 0.0%
All Other $2,527,511 $1,968,754 28.38%
Corporate Stocks $3,958,567 $4,219,112 -6.18%
Preferred $0 $0 0.0%
Common $3,958,567 $4,219,112 -6.18%
Partnership/joint venture interests $114,456 $142,777 -19.84%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $809,579 $870,411 -6.99%
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 $2,586,722 $2,706,471 -4.42%
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 $56 $447 -87.47%
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) $56 $447 -87.47%
Net Assets $11,794,581 $11,698,954 0.82%

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
Integrated Financial Group Investment management fees paid indirectly by plan Financial Advisor $7,975 $0 $7,975
Alliance Benefit Group Recordkeeping and information management (computing, tabulating, data processing, etc.) Third Party Administrato $6,107 $0 $6,107
Robbie De Rooy, Ubs Investment management fees paid indirectly by plan Financial Adv $100 $0 $100
Total $14,182 $0 $14,182

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.



No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.