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FORM 5500 DATA

Advance Beverage Co., Inc. 401k Profit Sharing Plan

Overview

Plan Information

  • Plan Year10/01/2018 — 09/30/2019
  • Date of Plan10/01/1976
  • Net Assets as of 09/30/2019 $31,390,352
  • 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 09/30/2019

  • Active (Eligible) Participants150
  • Retired or separated participants receiving benefits38
  • Other retired or separated participants entitled to future benefits48
  • Subtotal236
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total236
  • Total number of participants as of 10/01/2018240
  • Number of participants with account balances217
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2

Expenses

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

Sponsor Information

  • Address5200 District Blvd.
  • CityBakersfield
  • StateCA
  • Zip93313
  • Telephone(661) 833-3783
  • EIN95-2701458
  • Industry Code484110

Audit Information

  • Audit StatusAudited
  • AuditorBarbich Hooper King Dill Hoffman
  • Auditor EIN95-3705481
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of 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.

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? Yes
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 $701,609
Contributions $496,506
Cash Contributions $496,506
Cash from Employers $300,000
Cash from Participants $196,427
Others (including rollovers) $79
Noncash Contributions $0
Total Earnings on Investments $205,103
Total Interest $443,721
Interest-Bearing Cash $15,812
U.S. Government Securities $134,752
Corporate Debt Instruments $253,455
Loans (other than to participants) $0
Participant Loans $55,599
Interest from Other Investments $-15,897
Total Dividends $300,520
Preferred Stock $0
Common Stock $119,590
Rents $0
Net gain (loss) on sale of assets $-225,677
Aggregate Proceeds $15,359,053
Aggregate Carrying Amount $15,584,730
Total Unrealized Appreciation (depreciation) of assets $-313,461
Real Estate $0
Other $-313,461
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 $0
Other Income $0
Expenses $1,984,943
Total Benefit Payments $1,826,036
Directly to participants or beneficiaries, including direct rollovers $1,826,036
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 $158,907
Professional Fees $25,412
Contract Administrator Fees $0
Investment Advisory and management fees $133,495
Other Administrative Fees $0
Net Income $-1,283,334
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

09/30/2019 09/30/2018 Change YOY
Total Assets $31,422,234 $32,698,562 -3.90%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $301,081 $8,538 3426.36%
Employer Contributions $300,000 $0 0.0%
Participant Contributions $650 $8,538 -92.39%
Other Contributions $431 $0 0.0%
General Investments $8,527,469 $7,788,482 9.49%
Interest-bearing cash $8,527,469 $1,350,232 531.56%
U.S. Government Securities $0 $6,438,250 -100.00%
Corporate Debt Instruments $4,895,301 $5,976,314 -18.09%
Preferred $0 $0 0.0%
All Other $4,895,301 $5,976,314 -18.09%
Corporate Stocks $8,232,941 $9,272,595 -11.21%
Preferred $0 $0 0.0%
Common $8,232,941 $9,272,595 -11.21%
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 $622,593 $668,303 -6.84%
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 $8,741,666 $8,882,438 -1.58%
Value of funds held in insurance co. general account $101,183 $101,892 -0.70%
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 $31,882 $24,876 28.16%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $31,882 $24,876 28.16%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $31,390,352 $32,673,686 -3.93%

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
Empower Retirement Advisory Service Recordkeeping fees Recordkeeper $39,738 $0 $39,738
Capfinancial Partners, LLC Investment advisory (plan) Investment Advisor $22,704 $0 $22,704
Actuaries Unlimited, Inc. Contract Administrator Third Party Administrato $0 $2,146 $2,146
Prb Administrators, Inc. Contract Administrator Third Party Administrato $0 $1,094 $1,094
Sentinel Asset Management Investment advisory (participants) Investment Management $0 $0 $0
Barbich Hooper King Dill Hoffman Accounting (including auditing) Accountant $0 $0 $0
Total $62,442 $3,240 $65,682

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

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Great West Life and Annuity Ins. Company 26
EIN 84-0467907
Industry Code 68322
Contract Number 334671-01
Contract Year 10/01/2018 — 09/30/2019
Value in General Account at Year End $101,183
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 Guaranteed Investment
Balance at the end of the previous year $101,893
Additions $111,221
Contributions Deposited during the year $7,949
Dividends and credits $1,163
Interest credited during the year $0
Transferred from separate account $102,104
Other $5
Total of Balance and Additions $213,114
Deductions $111,931
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $109
Transferred to Separate Account $111,822
Other $0
Balance at the end of the current year $101,183