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FORM 5500 DATA

Avalign Technologies, Inc. 401k Plan

Overview

Plan Information

  • Plan Year01/01/2016 — 12/31/2016
  • Date of Plan04/01/2006
  • Net Assets as of 12/31/2016 $19,673,422
  • 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 ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2016

  • Active (Eligible) Participants472
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits109
  • Subtotal581
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total582
  • Total number of participants as of 01/01/2016525
  • Number of participants with account balances515
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

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
  • Telephone(317) 865-6404
  • EIN20-8145355
  • Industry Code454390
  • Named AdministratorKylee Mathes
  • Named Plan SponsorKylee Mathes

Audit Information

  • Audit StatusAudited
  • AuditorGrant Thornton, LLP
  • Auditor EIN36-6055558
  • 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 $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
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 $3,946,703
Contributions $2,739,847
Cash Contributions $2,739,847
Cash from Employers $894,308
Cash from Participants $1,416,959
Others (including rollovers) $428,580
Noncash Contributions $0
Total Earnings on Investments $1,191,760
Total Interest $26,421
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $23,885
Interest from Other Investments $2,536
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 $1,165,339
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 $15,096
Expenses $975,321
Total Benefit Payments $914,303
Directly to participants or beneficiaries, including direct rollovers $914,303
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $40,915
Interest expense $0
Total Administrative Expenses $20,103
Professional Fees $0
Contract Administrator Fees $20,103
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $2,971,382
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2016 12/31/2015 Change YOY
Total Assets $19,673,422 $16,702,040 17.79%
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 $540,003 $515,628 4.73%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $18,852,439 $16,096,717 17.12%
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 $280,980 $89,695 213.26%
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 $19,673,422 $16,702,040 17.79%

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
Minnesota Life Insurance Company Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Valuation (appraisals, etc.), Participant communication, Recordkeeping fees, Account maintenance fees, Direct payment from the plan, Investment management fees paid indirectly by plan, Participant loan processing NONE $5,008 $0 $5,008
Total $5,008 $0 $5,008

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
Crowe Horwath LLP Auditor Management Decision.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Delaware Value A Minnesota Life Insurance Company DFE: Pooled Separate Account $3,200,841
T. Rowe Price Large Cap Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $3,110,058
Vanguard Interm Bond Idx Adm Minnesota Life Insurance Company DFE: Pooled Separate Account $2,136,170
Invesco Intl Growth, R5 Minnesota Life Insurance Company DFE: Pooled Separate Account $1,882,042
Gms Intl Eq Insghts Ir Minnesota Life Insurance Company DFE: Pooled Separate Account $1,832,071
Pimco Income Instl Minnesota Life Insurance Company DFE: Pooled Separate Account $1,334,881
Intech Us Core Minnesota Life Insurance Company DFE: Pooled Separate Account $1,235,808
Invesco Small Cap Value, Cl Y Minnesota Life Insurance Company DFE: Pooled Separate Account $1,185,723
Janus Triton N Minnesota Life Insurance Company DFE: Pooled Separate Account $1,153,761
American Century Mid Cp Val R6 Minnesota Life Insurance Company DFE: Pooled Separate Account $492,998
Advantus S&P 500 Index Minnesota Life Insurance Company DFE: Pooled Separate Account $457,931
Buffalo Discovery Minnesota Life Insurance Company DFE: Pooled Separate Account $267,251
Tcw Total Return Bond I Minnesota Life Insurance Company DFE: Pooled Separate Account $250,953
Dfa Glbl Re Secur Prt Minnesota Life Insurance Company DFE: Pooled Separate Account $174,053
Dreyfus Natural Resources I Minnesota Life Insurance Company DFE: Pooled Separate Account $137,898
Morgan Stanley Ins Glob Re, I Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Dodge & Cox Income Fund Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Goldman Sachs Mid Cap Growth Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Loomis Sayles Bond Inst'L Cl Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Dodge & Cox Intl Stock Fund Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Vanguard Windsor Iifund Admiral Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Van Eck Global Hard Assets A Minnesota Life Insurance Company DFE: Pooled Separate Account $0
Total $18,852,439

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Minnesota Life Insurance Company 582
EIN 41-0417830
Industry Code 66168
Contract Number 66220
Contract Year 01/01/2016 — 12/31/2016
Value in General Account at Year End $280,980
Value in Separate Accounts at Year End $18,852,439
Insurance Fees and Commissions $53,616
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 $53,616 $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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $89,695
Additions $203,002
Contributions Deposited during the year $37,561
Dividends and credits $0
Interest credited during the year $2,536
Transferred from separate account $159,014
Other $3,891
Total of Balance and Additions $292,697
Deductions $11,717
Disbursed from fund to pay benefits or purchase annuities during the year $3,460
Administration charge made by carrier $127
Transferred to Separate Account $3,942
Other $4,188
Balance at the end of the current year $280,980