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FORM 5500 DATA

Avalign Technologies, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan04/01/2006
  • Net Assets as of 12/31/2008 $5,005,574
  • 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? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2008

  • Active (Eligible) Participants314
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits35
  • Subtotal349
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total349
  • Total number of participants as of 01/01/2008277
  • Number of participants with account balances305
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested19
  • Number of participants required to be reported on Schedule SSA6

Expenses

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

Sponsor Information

  • Address2121 Southtech Drive, Suite 600
  • CityGreenwood
  • StateIN
  • Zip46143-6395
  • Telephone(317) 865-6404
  • EIN20-8145355
  • Industry Code454390
  • Named AdministratorSU

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameSecurian Retirement
  • AddressPo Box 64787
  • City St Paul
  • StateMN
  • Zip55164-0787
  • Telephone(651) 665-3500
  • Preparer EIN41-0417830

Audit Information

  • Audit StatusAudited
  • AuditorCrowe Horwath, LLP
  • Auditor EIN35-0921680
  • 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.
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 $5,000,000
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

Financials

Income and Expense Statement

Income $-1,025,032
Contributions $1,315,807
Cash Contributions $1,315,807
Cash from Employers $513,260
Cash from Participants $776,812
Others (including rollovers) $25,735
Noncash Contributions $0
Total Earnings on Investments $-2,345,196
Total Interest $7,415
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $7,415
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 $0
Net investment gain (loss) from pooled separate accounts $-2,352,611
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 $4,357
Expenses $602,961
Total Benefit Payments $591,447
Directly to participants or beneficiaries, including direct rollovers $591,447
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $5,097
Interest expense $0
Total Administrative Expenses $6,417
Professional Fees $0
Contract Administrator Fees $6,417
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-1,627,993
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $5,005,574 $2,400,936 108.48%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
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 $144,440 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $4,861,134 $2,400,936 102.47%
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 $0 0.0%
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 $5,005,574 $2,400,936 108.48%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Minnesota Life Insurance Company Contract Administrator $0 $6,417 $6,417
Total $0 $6,417 $6,417

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Intermediate-Term Bond Index Ia Minnesota Life Insurance Company DFE: Pooled Separate Account $971,780
International Value II Minnesota Life Insurance Company DFE: Pooled Separate Account $725,286
Large Growth Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $668,863
Large Value Equity Xiii Minnesota Life Insurance Company DFE: Pooled Separate Account $647,116
Large Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $522,340
International Growth I Minnesota Life Insurance Company DFE: Pooled Separate Account $451,232
Small Growth Equity Xii Minnesota Life Insurance Company DFE: Pooled Separate Account $249,744
Small/Mid Value Equity II Minnesota Life Insurance Company DFE: Pooled Separate Account $225,653
Mid-Cap Value Equity IV Minnesota Life Insurance Company DFE: Pooled Separate Account $146,145
Money Market Minnesota Life Insurance Company DFE: Pooled Separate Account $84,086
Large Equity Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $61,474
Mid-Cap Growth Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $49,022
Natural Resources I Minnesota Life Insurance Company DFE: Pooled Separate Account $36,929
Short-Term Bond Minnesota Life Insurance Company DFE: Pooled Separate Account $11,102
Real Estate Minnesota Life Insurance Company DFE: Pooled Separate Account $10,362
Intermediate Term Bond Index I Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Small/Mid Value Equity III Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Mortgage Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $4,861,134

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 349
EIN 41-0417830
Industry Code 66168
Contract Number 66220
Contract Year 01/01/2008 — 12/31/2008
Value in General Account at Year End $0
Value in Separate Accounts at Year End $4,861,134
Insurance Fees and Commissions $50,638
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Securian Financial Services 400 Robert Street North St Paul, MN 55101 Insurance Agent or Broker $50,638 $0
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0