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Overview

Plan Information

  • Plan Year01/01/2011 — 12/31/2011
  • Date of Plan12/12/2005
  • Net Assets as of 12/31/2011 $275,345,020
  • 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 12/31/2011

  • Active (Eligible) Participants2,541
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits336
  • Subtotal2,880
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits3
  • Total2,883
  • Total number of participants as of 01/01/20112,851
  • Number of participants with account balances2,782
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested44

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 500
  • CityLeague City
  • StateTX
  • Zip77573-2944
  • Telephone(281) 535-4229
  • EIN20-1981933
  • Industry Code325200
  • Named AdministratorPeter Train
  • Named Plan SponsorPeter Train

Plan Administrator Information

  • Administrator NameIneos USA
  • Address2600 South Shore Blvd Suite 500
  • CityLeague City
  • StateTX
  • Zip77573-2944
  • Telephone(281) 535-4229
  • Administrator EIN20-1981933

Audit Information

  • Audit StatusAudited
  • AuditorGrant Thornton
  • 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.
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? Yes $1,151
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
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 $34,644,222
Contributions $42,678,264
Cash Contributions $42,678,264
Cash from Employers $16,172,397
Cash from Participants $22,792,663
Others (including rollovers) $3,713,204
Noncash Contributions $0
Total Earnings on Investments $-8,141,549
Total Interest $418,335
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $418,335
Interest from Other Investments $0
Total Dividends $928,394
Preferred Stock $0
Common Stock $48,823
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $-638,135
Real Estate $0
Other $-638,135
Net investment gain (loss) from common/collective trusts $968,057
Net investment gain (loss) from pooled separate accounts $-4,748,848
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 $-5,069,352
Other Income $107,507
Expenses $13,762,779
Total Benefit Payments $13,703,177
Directly to participants or beneficiaries, including direct rollovers $13,702,872
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $305
Corrective Distributions $4,802
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $54,800
Professional Fees $0
Contract Administrator Fees $54,800
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $20,881,443
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2011 12/31/2010 Change YOY
Total Assets $275,345,020 $254,463,577 8.21%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $357,995 $0 0.0%
Employer Contributions $204,914 $0 0.0%
Participant Contributions $153,081 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $25,706 -100.00%
Interest-bearing cash $0 $25,706 -100.00%
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 $2,291,392 $2,105,814 8.81%
Preferred $220 $0 0.0%
Common $2,291,172 $2,105,814 8.80%
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 $9,947,658 $8,948,965 11.16%
Value of interest in common/collective trusts $36,085,272 $26,861,500 34.34%
Value of interest in pooled separate accounts $150,402,102 $143,498,481 4.81%
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 $76,252,526 $72,977,576 4.49%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $8,075 $45,535 -82.27%
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 $275,345,020 $254,463,577 8.21%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

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
Principal Life Insurance Company Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Contract Administrator $22,905 $31,215 $54,120
Pershing, LLC Direct payment from the plan, Recordkeeping fees, Account maintenance fees Other Services $31,895 $0 $31,895
Grant Thornton Accounting (including auditing) Accountant $0 $24,150 $24,150
Liskow and Lewis Legal Legal $0 $22,296 $22,296
Wise Consulting Consulting (general) Consulting $0 $20,255 $20,255
Towers Watson Consulting (general) Consulting $0 $7,150 $7,150
Total $54,800 $105,066 $159,866

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Principal Life Insurance Company Pershing, LLC Contract Administrator, Participant loan processing, Direct payment from the plan, Recordkeeping fees Principal Self Directed Brokerage Account Fees $31,215
Towers Watson Principal Life Insurance Company Consulting (general) Consulting $7,150
Wise Consulting Principal Life Insurance Company Consulting (general) Consulting $20,255
Grant Thorton Principal Life Insurance Company Accounting (including auditing) Accountant $24,150
Liskow and Lewis Principal Life Insurance Company Legal Legal $22,296
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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

Name of Investment Investment Manager Type of Investment Dollar Value
Principal Stable Val Pref Fd Union Bond & Trust Company DFE: Common/Collective Trust $36,085,272
Prin Lifetm 2020 Sep Acct-I3 Principal Life Insurance Company DFE: Pooled Separate Account $35,419,767
Prin Lifetm 2030 Sep Acct-I3 Principal Life Insurance Company DFE: Pooled Separate Account $30,275,340
Prin Intl Em Mkt Sep Acct-I5 Principal Life Insurance Company DFE: Pooled Separate Account $16,008,088
Prin Lifetm 2040 Sep Acct-I3 Principal Life Insurance Company DFE: Pooled Separate Account $12,474,211
Prin Bond and Mtge Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $10,811,554
Prin Lgcap S&P 500 Index Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $9,247,365
Prin Lifetm 2010 Sep Acct-I3 Principal Life Insurance Company DFE: Pooled Separate Account $9,127,993
Prin Midcap S&P 400 Idx Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $6,265,834
Prin Intl I Separate Acct-I2 Principal Life Insurance Company DFE: Pooled Separate Account $4,918,631
Prin Smcap S&P 600 Index Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $4,431,001
Prin U.S. Property Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $4,427,576
Prin Lifetm 2050 Sep Acct-I3 Principal Life Insurance Company DFE: Pooled Separate Account $3,390,104
Prin Smallcap Value II Sa-I2 Principal Life Insurance Company DFE: Pooled Separate Account $1,587,929
Prin Lifetm Str Inc Sa-I3 Principal Life Insurance Company DFE: Pooled Separate Account $1,135,627
Prin Lgcap Growth Sep Acct-I5 Principal Life Insurance Company DFE: Pooled Separate Account $881,081
Prin Money Market Sep Acct-R6 Principal Life Insurance Company DFE: Pooled Separate Account $0
Total $186,487,373

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 2,883
EIN 42-0127290
Industry Code 61271
Contract Number 614398
Contract Year 01/01/2011 — 12/31/2011
Value in General Account at Year End $0
Value in Separate Accounts at Year End $150,402,102
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