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Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan12/12/2005
  • Net Assets as of 12/31/2008 $134,074,393
  • Plan Number2
  • Plan Type Multiple 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 12/31/2008

  • Active (Eligible) Participants2,875
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits253
  • Subtotal3,129
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total3,131
  • Total number of participants as of 01/01/20083,284
  • Number of participants with account balances2,945
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested110
  • Number of participants required to be reported on Schedule SSA67

Expenses

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

Sponsor Information

  • Address2600 South Shore Blvd, Suite 400
  • CityLeague City
  • StateTX
  • Zip77573-2944
  • Telephone(281) 535-4229
  • EIN20-1981933
  • Industry Code325200
  • Named Administrator-C - ' %R
  • Named Plan Sponsor997;-00,R F/ [-,-A I Rn

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

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.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
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 $1,000,000
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 $-2,664,866
Contributions $56,407,584
Cash Contributions $56,407,584
Cash from Employers $14,583,040
Cash from Participants $24,048,301
Others (including rollovers) $17,776,243
Noncash Contributions $0
Total Earnings on Investments $-59,157,520
Total Interest $443,176
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $443,176
Interest from Other Investments $0
Total Dividends $30,806
Preferred Stock $0
Common Stock $30,806
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $-431,396
Real Estate $0
Other $-431,396
Net investment gain (loss) from common/collective trusts $-448,891
Net investment gain (loss) from pooled separate accounts $-41,460,726
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 $-17,290,489
Other Income $85,070
Expenses $15,879,262
Total Benefit Payments $15,821,029
Directly to participants or beneficiaries, including direct rollovers $15,809,336
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $11,693
Corrective Distributions $25,662
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $32,571
Professional Fees $0
Contract Administrator Fees $32,506
Investment Advisory and management fees $0
Other Administrative Fees $65
Net Income $-18,544,128
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 $134,100,055 $152,640,362 -12.15%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $205,004 $182,400 12.39%
Employer Contributions $138,519 $123,491 12.17%
Participant Contributions $66,485 $58,909 12.86%
Other Contributions $0 $0 0.0%
General Investments $20,591 $12,732 61.73%
Interest-bearing cash $20,591 $12,732 61.73%
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 $601,050 $738,860 -18.65%
Preferred $158 $0 0.0%
Common $600,892 $738,860 -18.67%
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 $6,258,714 $5,121,181 22.21%
Value of interest in common/collective trusts $23,454,437 $7,763,332 202.12%
Value of interest in pooled separate accounts $74,757,690 $104,156,432 -28.23%
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 $28,802,569 $34,665,425 -16.91%
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 $25,662 $21,841 17.49%
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) $25,662 $21,841 17.49%
Net Assets $134,074,393 $152,618,521 -12.15%

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
Principal Life Insurance Company Contract Administrator $0 $32,038 $32,038
Total $0 $32,038 $32,038

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Principal Stable Value Fund Union Bond & Trust Company DFE: Common/Collective Trust $23,454,437
Principal Lifetm 2020 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $18,423,392
Principal Lifetm 2030 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $13,792,245
Principal Intl Em Mkt Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $8,067,869
Principal Lifetm 2010 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $6,829,824
Principal U.S. Property Sepact Principal Life Insurance Company DFE: Pooled Separate Account $4,800,233
Principal Lifetm 2040 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $4,636,438
Prin Lgcp S&P 500 Idx Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $4,282,249
Prin International I Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $4,085,196
Principal Bond and Mtg Sep Acc Principal Life Insurance Company DFE: Pooled Separate Account $3,248,152
Prin Midcap S&P 400 Index Sa Principal Life Insurance Company DFE: Pooled Separate Account $1,984,547
Prin Smallcap S&P 600 Index Sa Principal Life Insurance Company DFE: Pooled Separate Account $1,967,688
Principal Lifetm 2050 Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $1,009,547
Prin Smcap Value II Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $798,499
Prin Lifetm Str Inc Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $627,214
Prin Largecap Growth Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $110,428
Prin Smallcap Growth Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $72,227
Principal Money Mkt Sep Acct Principal Life Insurance Company DFE: Pooled Separate Account $21,942
Total $98,212,127

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 3,131
EIN 42-0127290
Industry Code 61271
Contract Number 6-14398
Contract Year 01/01/2008 — 12/31/2008
Value in General Account at Year End $0
Value in Separate Accounts at Year End $74,757,690
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 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