Back to top
FORM 5500 DATA

Steel Warehouse, Lock Joint Tube and SFI Consolidated Profit Sharing Plan

Overview

Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan09/01/1953
  • Net Assets as of 12/31/2007 $28,251,218
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • 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 12/31/2007

  • Active (Eligible) Participants1,033
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits51
  • Subtotal1,084
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,084
  • Total number of participants as of 01/01/2007735
  • Number of participants with account balances994
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested69
  • Number of participants required to be reported on Schedule SSA10

Expenses

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

Sponsor Information

  • Address2722 Tucker Dr
  • CitySouth Bend
  • StateIN
  • Zip46619-4222
  • Telephone(574) 236-5175
  • EIN20-3534605
  • Industry Code332900
  • Named AdministratorMr. Rich King
  • Named Plan SponsorTed Lerman

Plan Administrator Information

  • Administrator NameMr. Rich King
  • Address2722 Tucker Dr
  • CitySouth Bend
  • StateIN
  • Zip46619-4222
  • Telephone(574) 236-5175
  • Administrator EIN20-3534605

Audit Information

  • Audit StatusAudited
  • AuditorJurgonski & Fredlake
  • Auditor EIN35-1640896
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
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? No
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 $3,849,783
Contributions $2,186,271
Cash Contributions $2,186,271
Cash from Employers $180,293
Cash from Participants $1,689,687
Others (including rollovers) $316,291
Noncash Contributions $0
Total Earnings on Investments $1,663,512
Total Interest $270,079
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $63,062
Interest from Other Investments $207,017
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 $1,393,433
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 $0
Expenses $1,317,407
Total Benefit Payments $1,130,003
Directly to participants or beneficiaries, including direct rollovers $1,123,459
To insurance carriers for the provision of benefits $6,544
Other Benefit Payment Fees $0
Corrective Distributions $126,525
Certain deemed distributions of participant loans $2,440
Interest expense $0
Total Administrative Expenses $58,439
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $58,439
Net Income $2,532,376
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $28,251,218 $25,837,873 9.34%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $1,047,882 -100.00%
Employer Contributions $0 $961,969 -100.00%
Participant Contributions $0 $85,913 -100.00%
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 $769,528 $705,768 9.03%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $20,284,060 $17,998,658 12.70%
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 $7,197,630 $6,085,565 18.27%
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 $119,031 -100.00%
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 $119,031 -100.00%
Net Assets $28,251,218 $25,718,842 9.85%

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
Thomas Cichon Administration $0 $36,099 $36,099
Richard Kerby Administration $0 $15,471 $15,471
Massachusetts Mutual Life Insurance Recordkeeping $0 $13,254 $13,254
Thomas F. Cichon Administration $0 $10,594 $10,594
Total $0 $75,418 $75,418

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Sia-C4 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,280,654
Sia-Ak Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,200,356
Sia-Od Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,010,200
Sia-At Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,889,687
Sia-Av Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,831,124
Sia-Ae Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,781,549
Sia-Wr Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,681,660
Sia-Vi Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,185,586
Sia-W5 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,156,407
Sia-Oc Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,129,515
Sia-Ob Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $713,441
Sia-Hk Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $504,172
Sia-Rm Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $463,732
Sia-Ax Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $418,974
Sia-Dh Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $388,500
Sia-Dc Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $386,405
Sia-Ac Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $262,097
Sia-Ag Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2
Total $20,284,061

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 1,084
EIN 04-1590850
Industry Code 65935
Contract Number SF 51622
Contract Year 01/01/2007 — 12/31/2007
Value in General Account at Year End $0
Value in Separate Accounts at Year End $20,284,060
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
Balance at the end of the previous year $6,085,565
Additions $4,414,455
Contributions Deposited during the year $2,917,862
Dividends and credits $0
Interest credited during the year $207,014
Transferred from separate account $523,598
Other $765,981
Total of Balance and Additions $10,500,020
Deductions $3,302,390
Disbursed from fund to pay benefits or purchase annuities during the year $462,947
Administration charge made by carrier $14,381
Transferred to Separate Account $2,657,439
Other $167,623
Balance at the end of the current year $7,197,630