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FORM 5500 DATA

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

Overview

Plan Information

  • Plan Year01/01/2016 — 12/31/2016
  • Date of Plan09/01/1953
  • Net Assets as of 12/31/2016 $70,397,149
  • Plan Number1
  • 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) Participants1,553
  • Retired or separated participants receiving benefits10
  • Other retired or separated participants entitled to future benefits254
  • Subtotal1,817
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total1,819
  • Total number of participants as of 01/01/20161,841
  • Number of participants with account balances1,566
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested206

Expenses

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

Sponsor Information

  • Address2722 West Tucker Drive
  • CitySouth Bend
  • StateIN
  • Zip46624
  • Telephone(574) 236-5114
  • EIN20-3534605
  • Industry Code332900
  • Named AdministratorMr. Richard King
  • Named Plan SponsorMr. Richard King

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
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
3B Self-Employed Plan Plan covering Self-Employed individuals.
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 $500,000
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 $8,837,108
Contributions $4,713,844
Cash Contributions $4,713,844
Cash from Employers $1,123,102
Cash from Participants $3,130,246
Others (including rollovers) $460,496
Noncash Contributions $0
Total Earnings on Investments $4,123,264
Total Interest $605,596
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $71,430
Interest from Other Investments $534,166
Total Dividends $52,103
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $26,228
Aggregate Proceeds $612,721
Aggregate Carrying Amount $586,493
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 $0
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 $3,439,337
Other Income $0
Expenses $4,877,724
Total Benefit Payments $4,789,774
Directly to participants or beneficiaries, including direct rollovers $4,785,952
To insurance carriers for the provision of benefits $3,822
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $22,804
Interest expense $0
Total Administrative Expenses $65,146
Professional Fees $10,575
Contract Administrator Fees $52,626
Investment Advisory and management fees $1,650
Other Administrative Fees $295
Net Income $3,959,384
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 $70,397,149 $62,800,605 12.10%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $3,761 $3,971 -5.29%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $3,761 $3,971 -5.29%
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 $1,688,858 $1,625,874 3.87%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
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 $50,796,575 $40,916,166 24.15%
Value of funds held in insurance co. general account $17,904,495 $17,673,965 1.30%
Other Investments $3,460 $2,580,629 -99.87%
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 $70,397,149 $62,800,605 12.10%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Massachusetts Mutual Life Ins. Co.

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
Thomas F Cichon Insurance brokerage commissions and fees Shareholder Service Provi $0 $107,110 $107,110
Massachusetts Mutual Life Ins. Co. Investment management fees paid indirectly by plan, Sub-transfer agency fees, Distribution (12b-1) fees, Recordkeeping fees, Other insurance wrap fees, Soft dollars commissions, Other investment fees and expenses Contract Administrator $52,921 $0 $52,921
Richard Taylor Kerby Insurance brokerage commissions and fees Shareholder Service Provi $0 $45,904 $45,904
Crowe Horwath LLP Accounting (including auditing) Auditor $17,850 $0 $17,850
Erisa Logic Legal, Direct payment from the plan Legal Counsel $3,300 $0 $3,300
State Street Bank & Trust Company Accounting (including auditing) Fund Management $1,650 $0 $1,650
Total $75,721 $153,014 $228,735

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Thomas F Cichon Massachusetts Mutual Life Ins Co Insurance brokerage commissions and fees Commissions and Fees $107,110
Massachusetts Mutual Life Ins Co Prem Inflat Prot and Incm Barings Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins Co Select Metwest Total Return Bond Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Prem Us Govt Money Mrkt Barings Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Leveraged Co Stckfidelity Advisor Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Intl New Discovery Mfs Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Mm S P 500 Index Northern Trust Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Wellington/Ofi Small Cap Gr Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Sel Gr Opportunities Sands/Jsp Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Focused Value Harris Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Mid Cap Gr II Trp/Frontier Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Premier High Yield Barings Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Trp/Ls Blue Chip Growth Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Select Fundamental Val Wellington Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Global Allocation Ofi Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement 2010 T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement 2020 T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement 2030 T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement 2040 T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Pnc Large Cap Value Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Pnc Total Return Advantage Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Small Cap Value Invesco Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Special Mid Cap Val Wells Fargo Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Premier Global Ofi Other investment fees and expenses Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement 2050 T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Spectrum Growth T Rowe Price Sub-transfer agency fees, Other insurance wrap fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Retirement Balanced T Rowe Price Sub-transfer agency fees Basis Points Plan Assets $0
Massachusetts Mutual Life Ins. Co. Europacific Growth American Sub-transfer agency fees Basis Points Plan Assets $0
Richard Taylor Kerby Massachusetts Mutual Life Ins Co Insurance brokerage commissions and fees Commissions and Fees $45,904
*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
Sia-Rr Special Mid Cap Val Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,790,616
Sia-Ak Select Fundamental Val Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,772,763
Sia-At Select Mid Cap Gr Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,267,657
Sia-Zt Retirement 2040 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,166,504
Sia-Av Select Equity Opps Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,067,190
Sia-Xt Retirement 2030 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,065,994
Sia-Ut Retirement 2050 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,727,026
Sia-Od Premier Global Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,274,037
Sia-A1 Select Trp/Ls Blue Chip Grow Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,254,339
Sia-Vt Retirement 2020 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,248,259
Sia-W5 Spectrum Growth Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,183,733
Sia-Ax Mm S&P 500 Index Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,156,164
Sia-Ad Sel Gr Opportunities Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,103,530
Sia-Vi Leveraged Co Stck Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $2,023,815
Sia-Dh Premier High Yield Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,842,596
Sia-Hf Small Cap Value Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,606,284
Sia-Wr Int'L New Discovery Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,576,455
Sia-Ac Select Wellington/Ofi Small Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,424,562
Sia-Ob Global Allocation Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $1,002,999
Sia-Th Europacific Growth Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $858,704
Sia-Wz Select Metwest Total Return Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $655,344
Sia-Rt Retirement Balanced Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $488,867
Sia-Y Prem Inflat-Prot and Incm Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $235,167
Sia-St Retirement 2010 Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $196,508
Sia-Ag Prem U.S. Govt Money Mrkt Massachusetts Mutual Life Insurance DFE: Pooled Separate Account $3,052
Total $47,992,165

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Massachusetts Mutual Life Insurance Company 1,819
EIN 04-1590850
Industry Code 65935
Contract Number SF 51622
Contract Year 01/01/2016 — 12/31/2016
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
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 GROUP ANNUITY CONTRACT
Balance at the end of the previous year $17,673,965
Additions $9,158,637
Contributions Deposited during the year $4,253,348
Dividends and credits $0
Interest credited during the year $534,166
Transferred from separate account $0
Other $4,371,123
Total of Balance and Additions $26,832,602
Deductions $9,630,741
Disbursed from fund to pay benefits or purchase annuities during the year $1,420,660
Administration charge made by carrier $19,403
Transferred to Separate Account $8,046,990
Other $143,688
Balance at the end of the current year $17,201,861
Massachusetts Mutual Life Insurance Company 3
EIN 04-1590850
Industry Code 65935
Contract Number 3694661
Contract Year 11/01/2015 — 10/31/2016
Value in General Account at Year End $152,244
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Gregory A. Mcroberts 900 E 96th Street Ste 300 Indianapolis, IN 46240 -3876 Insurance Agent or Broker $0 $0
Allocated Funds
Type of Contract Individual Policies
Basis of premium rates
Premiums paid to carrier $3,514
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