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Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan04/01/1997
  • Net Assets as of 12/31/2015 $67,666,452
  • 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 12/31/2015

  • Active (Eligible) Participants581
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits191
  • Subtotal772
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total772
  • Total number of participants as of 01/01/2015743
  • Number of participants with account balances772
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address47603 Halyard Drive
  • CityPlymouth
  • StateMI
  • Zip48170
  • Telephone(734) 446-9600
  • EIN36-2482129
  • Industry Code333200

Audit Information

  • Audit StatusAudited
  • AuditorPlante & Moran, PLLC
  • Auditor EIN38-1357951
  • 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.
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.
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 $3,000,000
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 $7,665,590
Contributions $7,434,994
Cash Contributions $7,434,994
Cash from Employers $2,333,430
Cash from Participants $4,429,285
Others (including rollovers) $672,279
Noncash Contributions $0
Total Earnings on Investments $230,596
Total Interest $65,015
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $65,015
Interest from Other Investments $0
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 $104,402
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 $61,179
Other Income $0
Expenses $4,522,048
Total Benefit Payments $4,375,447
Directly to participants or beneficiaries, including direct rollovers $4,375,447
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $116,244
Interest expense $0
Total Administrative Expenses $30,357
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $30,357
Other Administrative Fees $0
Net Income $3,143,542
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $67,666,452 $64,522,910 4.87%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $4,069 $0 0.0%
Employer Contributions $4,069 $0 0.0%
Participant Contributions $0 $0 0.0%
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 $1,527,119 $1,432,166 6.63%
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 $62,256,797 $59,529,423 4.58%
Value of funds held in insurance co. general account $3,878,467 $3,561,321 8.91%
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 $67,666,452 $64,522,910 4.87%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Financial

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
Morningstar Investment advisory (participants), Investment advisory (plan) Service Provider $5,199 $17,435 $22,634
Voya Retirement Insurance and Annui Investment advisory (participants) Service Provider $0 $0 $0
Total $5,199 $17,435 $22,634

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Morningstar Voya Life Insurance and Annuity Co. Investment advisory (plan) Investment Advisory $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.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Map Contract Separate Account D Voya Financial DFE: Pooled Separate Account $62,256,794
Total $62,256,794

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Voya Financial 0
EIN 71-0294708
Industry Code 86509
Contract Number 874543
Contract Year 01/01/2015 — 12/31/2015
Value in General Account at Year End $3,878,467
Value in Separate Accounts at Year End $62,256,794
Insurance Fees and Commissions $96,870
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Sigma Financial Group 300 Parkland Plz Ann Arbor, MI 48103 Insurance Agent or Broker $64,833 $0
Michigan Benefit Consulting, Inc. 445 S. Livernois Road Rochester Hills, MI 48307 Third Party Administrator $0 $32,037
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 $3,561,321
Additions $1,245,037
Contributions Deposited during the year $721,489
Dividends and credits $0
Interest credited during the year $61,179
Transferred from separate account $444,551
Other $17,818
Total of Balance and Additions $4,806,358
Deductions $927,891
Disbursed from fund to pay benefits or purchase annuities during the year $893,583
Administration charge made by carrier $2,539
Transferred to Separate Account $0
Other $31,769
Balance at the end of the current year $3,878,467