Back to top


Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1999
  • Net Assets as of 12/31/2019 $123,837,327
  • Plan Number12
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,529
  • Retired or separated participants receiving benefits42
  • Other retired or separated participants entitled to future benefits298
  • Subtotal3,869
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits10
  • Total3,879
  • Total number of participants as of 01/01/20192,950
  • Number of participants with account balances3,051
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested70


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

Sponsor Information

  • Address7900 National Service Road Cc/2-5
  • CityGreensboro
  • StateNC
  • Zip27409-9416
  • Telephone(336) 541-1231
  • EIN22-1582040
  • Industry Code336100
  • Named AdministratorLou Ann Foulks

Audit Information

  • Audit StatusAudited
  • AuditorCliftonlarsonallen LLP
  • Auditor EIN41-0746749
  • 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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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? 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
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


Income and Expense Statement

Income $35,921,450
Contributions $14,137,605
Cash Contributions $14,137,605
Cash from Employers $4,819,254
Cash from Participants $8,571,265
Others (including rollovers) $747,086
Noncash Contributions $0
Total Earnings on Investments $21,783,845
Total Interest $199,476
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $199,476
Interest from Other Investments $0
Total Dividends $905,142
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 $4,675,003
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $7,490,725
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $8,513,499
Other Income $0
Expenses $8,207,337
Total Benefit Payments $7,859,263
Directly to participants or beneficiaries, including direct rollovers $7,859,263
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $176,973
Interest expense $0
Total Administrative Expenses $171,101
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $5,612
Other Administrative Fees $165,489
Net Income $27,714,113
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $262,085

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $123,837,327 $96,372,177 28.50%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $313,445 $233,970 33.97%
Employer Contributions $108,198 $72,769 48.69%
Participant Contributions $172,418 $138,417 24.56%
Other Contributions $32,829 $22,784 44.09%
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 $4,255,133 $3,580,003 18.86%
Value of interest in common/collective trusts $24,717,047 $24,343,774 1.53%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $50,064,720 $34,673,572 44.39%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $44,486,982 $33,540,858 32.64%
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 $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 $123,837,327 $96,372,177 28.50%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Recordkeeper $165,489 $0 $165,489
Curcio Webb Consulting (general), Direct payment from the plan, Consulting fees Consultant $5,612 $0 $5,612
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $171,101 $0 $171,101

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
National Financial Services Dodge & Cox Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Western Asset Mgmt Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
*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.



Name of Investment Investment Manager Type of Investment Dollar Value
Target Retirement Fund Trust Volvo Group North America, LLC DFE: Master Trust Investment Account $50,064,720
Fidelity Contrafund Commingled Pool Fidelity DFE: Common/Collective Trust $16,444,243
Wells Fargo Stable Return E Galliard Capital Management DFE: Common/Collective Trust $8,272,804
Oppenheimer Intl Growth Collective Oppenheimer & Co. Inc. DFE: Common/Collective Trust $0
Total $74,781,767

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.