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FORM 5500 DATA

City Mill Company, Limited Profit Sharing 401k Plan

Overview

Plan Information

  • Plan Year01/01/2012 — 12/31/2012
  • Date of Plan01/01/1956
  • Net Assets as of 12/31/2012 $7,830,190
  • Plan Number2
  • 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 12/31/2012

  • Active (Eligible) Participants324
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits69
  • Subtotal394
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total394
  • Total number of participants as of 01/01/2012428
  • Number of participants with account balances383
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested48

Expenses

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

Sponsor Information

  • Address660 North Nimitz Highway
  • CityHonolulu
  • StateHI
  • Zip96817
  • Telephone(808) 529-5830
  • EIN99-0036090
  • Industry Code444110
  • Named AdministratorElise A. Burkart

Audit Information

  • Audit StatusAudited
  • AuditorKPMG
  • Auditor EIN13-5565207
  • 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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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.
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 $1,663,011
Contributions $837,895
Cash Contributions $837,895
Cash from Employers $295,069
Cash from Participants $457,389
Others (including rollovers) $85,437
Noncash Contributions $0
Total Earnings on Investments $824,655
Total Interest $26,908
Interest-Bearing Cash $229
U.S. Government Securities $-1,358
Corporate Debt Instruments $25,125
Loans (other than to participants) $0
Participant Loans $2,567
Interest from Other Investments $345
Total Dividends $524,507
Preferred Stock $0
Common Stock $314,780
Rents $0
Net gain (loss) on sale of assets $82,602
Aggregate Proceeds $4,675,416
Aggregate Carrying Amount $4,592,814
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $1,111
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 $189,527
Other Income $461
Expenses $600,717
Total Benefit Payments $528,572
Directly to participants or beneficiaries, including direct rollovers $528,572
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 $72,145
Professional Fees $32,973
Contract Administrator Fees $11,649
Investment Advisory and management fees $27,523
Other Administrative Fees $0
Net Income $1,062,294
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2012 12/31/2011 Change YOY
Total Assets $7,833,970 $6,773,704 15.65%
Total noninterest-bearing cash $189 $46 310.87%
Receivables $23,897 $30,424 -21.45%
Employer Contributions $2,162 $1,201 80.02%
Participant Contributions $0 $1,169 -100.00%
Other Contributions $21,735 $28,054 -22.52%
General Investments $864,131 $924,095 -6.49%
Interest-bearing cash $128,361 $158,312 -18.92%
U.S. Government Securities $735,770 $765,783 -3.92%
Corporate Debt Instruments $1,350,256 $1,088,016 24.10%
Preferred $0 $0 0.0%
All Other $1,350,256 $1,088,016 24.10%
Corporate Stocks $2,191,944 $2,482,943 -11.72%
Preferred $0 $0 0.0%
Common $2,191,944 $2,482,943 -11.72%
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 $80,121 $73,291 9.32%
Value of interest in common/collective trusts $67,970 $51,637 31.63%
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 $3,243,382 $2,103,195 54.21%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $12,080 $20,057 -39.77%
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 $3,780 $5,808 -34.92%
Benefit Claims Payable (1) $0 $1,361 -100.00%
Operating Payables (1) $2,489 $3,182 -21.78%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,291 $1,265 2.06%
Net Assets $7,830,190 $6,767,896 15.70%

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
First Hawaiian Bank Trustee (bank, trust company, or similar financial institution) Trustee $71,721 $0 $71,721
Cades Schutte LLP Legal Attorney $424 $0 $424
Total $72,145 $0 $72,145

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

Name Position Explanation
N&K CPAS Inc Auditor FEES

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Wells Fargo Stable Value Fund E Wells Fargo Bank, Na DFE: Common/Collective Trust $67,970
Total $67,970

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.