Plan Review. Reporting Period Ending December 31, 31, Optional

Transcription

1 Plan Review Planar XYZ, Inc. Systems, 401(k) Plan Inc. 401(k) Plan Reporting Period Ending December 31, 31, 2015 Michael Pat Advisor Van Der Velden M Leading Holdings Financial Securities, Services, Inc. LLC Optional mikev@kpcom.com patadvisor@leadingfi nancial.comncial.com Lit. No. RPGEBR O CGD/AID/8112-S American Funds Distriburs, Inc.

2 Table of Contents Executive Summary Plan Assets Asset Allocation Plan Utilization Participant Details Contribution Analysis Distributions Loans Website Site and & Voice Response Utilization Services Offered Glossary of Terms Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 2

3 Executive Summary Plan Assets As of 12/31/2013 As of 12/31/2014 As of 12/31/2015 Plan Asset Balance Account Reduction Loan Balance Total Plan Asset Balance $34,310,044 $33,904,600 $33,856,090 $52,448 $66,795 $73,783 $34,362,492 $33,971,395 $33,929,873 Cash Flow 01/01/ /31/ /01/ /31/ /01/ /31/2015 Contributions $2,084,547 $2,080,335 $2,664,676 Distributions $3,465,090 $4,681,621 $2,730,387 Net Cash Flow $-1,380,543 $-2,601,286 $-65, Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 3

4 Executive Summary Participants 12/31/ /31/ /31/2015 Eligible Employees Participants Contributing Active Participants with Balances Terminated Participants with Balances Participants with Loan Balance Cash Plan Utilization Flow 12/31/ /31/ /31/2015 Participation Rate Average Participant Paycheck Contribution Percentage Rate* Average Participant Paycheck Contribution Dollar Amount** 75.80% 73.91% 9.92% 10.07% 74.58% 10.35% Average Participant Contribution Amount*** $9,787 $10,089 $10,562 Average Participant Balance $91,215 $93,917 $93,266 Investment Options in Plan with a Balance *If your plan only allows participant paycheck elections by amount, this will reflect 0%. **If your plan only allows participant paycheck elections ections by percent, this will reflect. ***Average of tal contributions during the reporting period. Figures provided represent plan information as of the reporting date listed. Please refer the Glossary of Terms for a description of each figure's calculation Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 4

5 Plan Assets Your plan's tal asset balance is illustrated here. Total asset balance includes the balances of all employed ed and previously employed participants, in addition plan forfeiture assets. Total loan balance includes all outstanding loans. Plan Asset Hisry $35,000,000 $30,000,000 % Change in Plan Assets 12/31/ /31/ /31/ /31/ % -1.14% $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 12/31/ /31/ /31/2015 Number of Investment Options As of 12/31/2015, your plan offered 26 investment options. The average number of investment options offered in Defined Contribution plans is 21.3.* *Source: PLANSPONSOR Defined Contribution Survey, 2015, Overall Results Plan Asset Hisry (Includes Plan Asset Balance and Account Reduction Loan Balance) 12/31/2015 $33,929,873 12/31/2014 $33,971,395 12/31/2013 $34,362,492 Plan Asset Balance Account Reduction Loan Balance Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 5

6 Asset Allocation Asset Class Investment Option Assets As of 12/31/2014 % of Total Number of Participants Assets As of 12/31/2015 % of Total Number of Participants Growth American Funds EuroPacific Gr R5 $2,446, % 156 $2,348, % 149 Growth T. Rowe Price New America Growth $3,164, % 166 $3,469, % 163 Growth Vanguard Mid Cap Growth Inv $1,696, % 113 $1,729, % 120 Growth Vanguard Small Cap Growth Index Admiral $2,474, % 149 $2,600, % 150 Growth Vanguard Small Cap Value Index Admiral $2,417, % 137 $2,355, % 132 $12,200, % $12,503, % Growth-and-income American Century Mid Cap Value Inv $2,114, % 117 $1,941, % 113 Growth-and-income American Funds Capital World G/I R5 $2,141, % 132 $1,711, % 123 Growth-and-income American Funds Invmt Co of America R5 $2,896, % 150 $3,093, % 147 Growth-and-income American Funds Washingn Mutual R5 $2,724, % 1333 $2,799, % 130 $9,876, % $9,545, % Equity Income Vanguard REIT Index - Admiral $509, % 27 $757, % 35 $509, % $757, % Balanced American Funds American Balanced R5 $2,009, % 96 $2,490, % 115 Balanced PIMCO All Asset All Authority Inst $557, % % 0 $2,566, % $2,490, % Bond American Funds Interm Bd Fd of Amer R5 $771, % 119 $767, % 109 Bond PIMCO Total Return II Instl $1,321, % 138 $1,214, % 131 $2,092, % $1,981, % Cash Equivalent American Funds US Govt Money Market R5 $2,930, % 156 $2,652, % 139 $2,930, % $2,652, % Target Date American Funds 2010 Target Date Fund R5 (*) $538, % 23 $470, % 23 Target Date American Funds 2015 Target Date Fund R5 (*) $81, % 20 $51, % 16 Target Date American Funds 2020 Target Date Fund R5 (*) $335, % 24 $393, % 28 Target Date American Funds 2025 Target Date Fund R5 (*) $439, % 22 $376, % 19 Target Date American Funds 2030 Target Date Fund R5 (*) $653, % 29 $715, % 29 Target Date American Funds 2035 Target Date Fund R5 (*) $661, % 30 $750, % 29 Target Date American Funds 2040 Target Date Fund R5 (*) $335, % 21 $377, % 24 Target Date American Funds 2045 Target Date Fund R5 (*) $248, % 18 $260, % 18 Target Date American Funds 2050 Target Date Fund R5 (*) $367, % 27 $441, % 31 Target Date American Funds 2055 Target Date Fund R5 (*) $66, % 11 $86, % 16 Target Date American Funds 2060 Target Date Fund R5 (*) 0.00% 0 $3, % 2 *Your plan's default investment election(s). $3,728, % $3,926, % Grand Total: $33,904, % $33,856, % Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 6

7 Asset Allocation by Age (As of 12/31/2015) 22 Participants 93 Participants 363 Participants Your Plan's Asset Allocation Age <=29 22% 4% 7% 7% 7% Age % 12% 8% 6% 37% 51% 32% 64 Participants Age % 9% 5% 0% 34% 10% 2% 27% 10% 9% 4% 53 Participants Age >=60 34% 7% 2% 28% 5% 8% 3% 1% 17% 8% 4% 30% 131 Participants 0 Participants Growth 37% Growth-and-income 28% Equity Income 2% Balanced 7% Bond 6% Cash Equivalent 8% Target Date 12% Total: 100% 11% 8% 5% Age % Age Unknown ***There are no assets for this age group*** 6% 1% 31% Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 7

8 Plan Utilization Your plan's participation rates by age are shown here. Your plan's participation rate equals the tal number of participants making regular contributions divided by the tal number of eligible employees. Average Participation Rate by Age 100% 80% Participation Rate As of 12/31/2015, 2015, the participation rate for your plan was 74.58%. 60% The average Defined Contribution plan participation rate for eligible employees is 77.1%.* *Source: PLANSPONSOR Defined Contribution Survey, 2015, Overall Results 40% 20% 0% <= >= 60 Unknown Defaulted Participants Your plan has 220 employees participating in the plan. As of 12/31/2015, 6 of these employees have not made an active investment election and their contributions are currently being allocated the plan's default investment option. # of Contributing Participants as of 12/31/ /31/ /31/ /31/ Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 8

9 Plan Utilization Your plan's average participant contribution amount by age is shown here. Your plan's average participant t contribution amount equals the tal amount of contributions divided by the tal number of contributing participants. Average Participant Contribution Amount by Age $16,000 $14,000 $12,000 $10,000 $8,000 Paycheck ck Contribution Information As of 12/31/2015, /2015, your plan's average participant paycheck contribution percentage rate was 10.35% per payroll period.** As of 12/31/2015, your plan's average participant paycheck contribution dollar lar amount was per payroll period.** **If your plan only allows participant paycheck elections by percent (or amount) the value will reflect as 0% (or ). The average deferral rate among non-highly compensated participants in Defined Contribution plans is 5.80%.* *Source: Profit Sharing/401(k) Council of America, 58th Annual Survey of Profit Sharing and 401(k) Plans, 2014 $6,000 $4,000 $2,000 Average Participant Contribution Amount by Age Age <= $4, $3, $3,729 # of Contributing Participants as of 12/31/2015 <= >= 60 Unknown >=60 $7,375 $9,960 $12,652 $11,308 $7,583 $10,089 $13,317 $12,188 $8,346 $10,525 $12,876 $15,407 12/31/ /31/ /31/2015 Unknown Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 9

10 Participant Details Your plan's average participant balance and the average number of investment options held by your plan participants are shown here. Average Participant Balance $100,000 $91,215 $93,917 $93,266 $80,000 $60,000 $40,000 $20,000 Number of Investment Options As of 12/31/2015, participants in your plan held an average of 5.48 investment options. On average, participants hold 5.20 investment options in their Defined Contribution plan account.* *Source: PLANSPONSOR Defined Contribution Survey, 2015, Overall Results # of Participants with a Balance 12/31/ /31/ /31/ Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 10

11 Participant Details Here is a breakdown of your plan's average participant balance by age, by year. Average Participant Balance by Age $140,000 Age Your Plan $120,000 <=29 $16,715 $11,768 $8, $40,469 $43,018 $44,156 $100, $103,781 $101,291 $104, $108,928 $116,942 $108,488 $80,000 >=60 $126,139 $131,302 $133,416 $60,000 Unknown All Ages $91,215 $93,917 $93,266 $40,000 $20,000 # of Participants with a Balance as of 12/31/2015 <= >= 60 Unknown Average Participant Account Balance ¹ The average participant account balance for year-end 2014 was $76,293.* Source: Average 401(k) Plan Account Balance, By Age and Tenure, 2014, EBRI Issue Brief, No. 423, April P. 17 ¹Account Balances are participant account balances held in 401(k) plans at the participants' current employers and are net of plan loans. Retirement savings held in plans at previous employers or rolled over in IRAs are not included. 12/31/ /31/ /31/ Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 11

12 Contributions Your plan's contribution amounts by money type are shown here. Contributions by Money Type $2,800,000 $2,400,000 Contribution Detail $2,000,000 Money Type 01/01/ /31/ /01/ /31/ /01/ /31/2015 $1,600,000 Before Tax After Tax $1,408,081 $1,358,479 $1,523,271 $1,200,000 Roth Rollover $36,740 $22,184 $62,481 $341,045 $800,000 Employer Total $676,466 $2,084,547 $662,932 $2,080,335 $737,879 $2,664,676 $400,000 12/31/ /31/ /31/2015 Before Tax After Tax Roth Rollover Employer Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 12

13 Contribution Analysis Asset Class Investment Option Contributions 01/01/ /31/2014 % of Total Number of Participants Contributing Contributions 01/01/ /31/2015 % of Total Number of Participants Contributing Growth American Funds EuroPacific Gr R5 $114, % 66 $123, % 65 Growth Perkins Small Cap Value I $107, % % 0 Growth T. Rowe Price New America Growth $130, % 71 $156, % 74 Growth Vanguard Mid Cap Growth Inv $91, % 60 $106, % 68 Growth Vanguard Small Cap Growth Index $96, % % 0 Growth Vanguard Small Cap Growth Index Admiral $34, % 58 $168, % 77 Growth Vanguard Small Cap Value Index Admiral $40, % 58 $157, % 69 $615, % $711, % Growth-and-income American Century Mid Cap Value Inv $110, % 59 $124, % 61 Growth-and-income American Funds Capital World G/I R5 $120, % 64 $97, % 62 Growth-and-income American Funds Invmt Co of America R5 $92, % 4% 64 $122, % 67 Growth-and-income American Funds Washingn Mutual R5 $107, % 59 $121, % 61 $430, % $467, % Equity Income Vanguard REIT Index - Admiral $11, % 17 $90, % 32 Equity Income Vanguard REIT Index Inv $43, % % 0 $54, % $90, % Balanced American Funds American Balanced R5 $110, % 45 $137, % 55 Balanced PIMCO All Asset All Authority Inst $55, % 31 $23, % 25 $165, % $161, % Bond American Funds Interm Bd Fd of Amer R5 $43, % 42 $46, % 39 Bond PIMCO Total Return II Instl $91, % 62 $101, % 57 $134, % $148, % Cash Equivalent American Funds US Govt Money Market R5 $150, % 57 $172, % 50 $150, % $172, % Target Date American Funds 2010 Target Date Fund R5 (*) $20, % 12 $24, % 12 Target Date American Funds 2015 Target Date Fund R5 (*) $12, % 9 $12, % 9 Target Date American Funds 2020 Target Date Fund R5 (*) $66, % 17 $68, % 19 Target Date American Funds 2025 Target Date Fund R5 (*) $48, % 13 $59, % 13 Target Date American Funds 2030 Target Date Fund R5 (*) $64, % 18 $72, % 20 Target Date American Funds 2035 Target Date Fund R5 (*) $134, % 19 $436, % 24 Target Date American Funds 2040 Target Date Fund R5 (*) $49, % 16 $68, % 19 Target Date American Funds 2045 Target Date Fund R5 (*) $70, % 17 $72, % 17 Target Date American Funds 2050 Target Date Fund R5 (*) $48, % 20 $73, % 22 Target Date American Funds Target Date Fund R5 (*) $11, % 8 $21, % 12 Target Date American Funds Target Date Fund R5 (*) 0.00% 0 $3, % 2 *Your plan's default investment election(s). $527, % $913, % Grand Total: $2,080, % $2,664, % Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 13

14 Distributions An overview of your plan's distribution activity is shown here, including distribution reasons, number of distributions and percentage of rollovers / transfers versus payment self. Reasons for Distribution As of 12/31/2015 Percentages are based on dollar amount of distributions. 8% 13% Industry Average According a national study of rollover opportunities for those participants between age 55-70, 25% will leave the money in plan, 19% will l roll the money in an IRA, and 3% will take other action (cash out, transfer new employer).* *Source: LIMRA, Opportunities in the Rollover Market (2015) Comparing Common Distribution Reasons As of 12/31/2015 Percentages are based on dollar amount of distributions. 79% Rollovers / Transfers Payments Self 100% Death Benefit De Minimis In-Service Retirement Separation of Service Other 80% Distributions Number Amount Percentage of Distribution Amounts Rolled Over / Transferred 60% 40% 20% 01/01/ /31/ $2,730, % 01/01/ /31/ $4,681, % 0% Retirement Separation of Service In-Service 01/01/ /31/ $3,465, % 0.00% 0.00% 95.73% 4.27% 96.30% 3.70% Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 14

15 Loans Here is a breakdown of your plan's tal outstanding loan balance, newly issued loans and loans that have defaulted during each period. The number of plan participants with loans and the average loan balance are also shown. Total Outstanding Loan Balance $80,000 $70,000 $60,000 $50,000 $52,448 $66,795 $73,783 Loan Details As of 12/31/2015, 8 participants in your plan had an outstanding loan. The average e loan balance of all outstanding participant loans for your plan was $9,223. $40,000 As of 12/31/2015, % of your plan participants had an outstanding loan. $30,000 $20,000 For plans that do offer loans, an average of 14.30% of plan participants have an outstanding loan.* $10,000 *Source: PLANSPONSOR Defined Contribution Survey, 2015, Overall Results 12/31/ /31/ /31/20151/2015 # of Loans New Loans Defaulted Loans Number Amount Number Amount 01/01/ /31/ $60, /01/ /31/ $38, /01/ /31/ $25, Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 15

16 Web Site Activity Detail 01/01/ /31/ /01/ /31/ /01/ /31/2015 Totals Average Distinct Users (*) Total Logins 8,393 8,974 6,203 Activity Summary Account Inquiries Account Balance Account and Certificates Overview 6,528 7,060 4,752 Allocation and Asset Allocation (**) Asset Allocation Balance Comparison Disbursement Summary Electronic Statements Fund Overview and Prospectus (** Fund Returns Fund Values Investment Overview Personal Rate of Return Statement on Demand and Quarter Transaction Hisry 9,635 10,834 7,628 Totals Account Changes Allocations 18, , , Beneficiary Deferral Fund Transfers Rebalancer Registration Totals ,602 20, ,619 Account Inquiries Account Changes *As of August 2014, we have enhanced the participant account registration and login process. As a result, Average Distinct Users will reflect only SUCCESSFUL user logins the participant website going forward. **We recently redesigned the participant website and renamed some categories reported in this chart. As a result, you may see similarly named categories representing the same transaction Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 16

17 Voice Response Activity Detail 01/01/ /31/ /01/ /31/ /01/ /31/2015 Totals Average Distinct Users Opt Client Service Representativ Total Calls Activity Summary Account Inquiries Account Balance Allocations Fund Values Loans Transaction Hisry Totals: Account Changes Deferrals Totals: Account Inquiries Account Changes Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 17

18 Services Offered Administrative Services Available Today / Information Administrative Services Available Today / Information Online Statements Yes Loans Available Yes Beneficiary Recordkeeping Online Enrollment Deferral Recordkeeping Yes Yes Yes Online Loan Initiation Loan File Feeds Aumatic Enrollment Default Percentage No Yes No N/A To-Do List Yes Au Escalation Percentage N/A Au Escalation Percentage Maximum N/A Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 18

19 Glossary of Terms Term Account Reduction Loan Balance Active Participants with Balances Contributions Defaulted Loan Distributions Eligible Employees Funds in Plan with a Balance Loan Balance (Average) Description The tal amount of all active, outstanding loans held by plan participants. Loans that have been offset or deemed as a distribution ion are not included. Plan participants who are actively employed and have a balance. Amounts deposited for all money types, both regular payroll and single rollovers. Assets that are added the plan during conversion our recordkeeping system are not included. A loan that is not current on all loan assessments, which are due by the prior quarter-end; when this occurs, the loan will default as of the next quarter-end. The outstanding amount with accrued interest as of the default date will be tax-reported for the calendar ar year in which it defaulted. All full and partial withdrawals for every disbursement reason and tax reason code. In this report, the five most common distribution types are illustrated individually; any other types are combined in the Other category. Employees who have met age and service requirements and are actively employed. The count is based upon employee information that has been transmitted or input by the plan on the recordkeeping system. Count of funds or investment options within the plan s fund lineup that have balances greater than.01 are included. This includes any employer sck awaiting purchase and self-directed brokerage products, as applicable. The average of all outstanding loan balances in the plan. This includes defaulted loan balances, but does not include offset or deemed loan balances Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 19

20 Glossary of Terms Term Net Cash Flow Description The plan s tal contributions less tal distributions. Forfeited amounts and loan balances are not included in this calculation. Participant Balance (Average) Participant Contribution Amount (Average) The average balance of all actively employed ed and terminated plan participants. Only participant balances that t are.01 or greater are included. This balance does not include any outstanding loan amounts. The tal amount of plan contributions for all money types divided by the number of contributing participants, ants, both currently employed or employed during the reporting period. Participant Paycheck Contribution Dollar Amount (Average) For plans that utilize our deferral recordkeeping services, this is the average amount of all dollar amount deferrals that have been established by actively employed ed participants pants for any held employee money types during the reporting period. Only participant deferral amounts that are greater than.01 are included. Participant Paycheck Contribution Percentage Rate (Average) Participants Contributing For plans that utilize our deferral recordkeeping services, this is the average rate of all percentage deferrals that have been established by actively employed participants for any held employee money types during the reporting period. Only participant deferral amounts that are greater than 1% are included. The number of actively employed plan participants who have regular payroll contributions during the reporting period Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 20

21 Glossary of Terms Term Participants with Loan Balance Description The number of individual plan participants who have an outstanding loan balance. This includes participants with defaulted ed loans, but does not include participants with offset or deemed loans. Participation Rate The percentage of the eligible e employees participating in the plan; this figure is derived by dividing the tal number of contributing participants by the tal number of eligible employees. The rate is based upon participant information that is transmitted or input by the plan on the recordkeeping system. Payments Self Plan Asset Balance Rollovers Terminated Participants with Balances Total Participating A distribution that is taken for any qualifying reason in which the distribution proceeds are made payable directly the participant. A rollup of all contributions ons and deposit types, transfers in / out, interest and dividends, change in value, fees and withdrawals, and forfeiture assets. A distribution that is taken for a qualifying reason in which the distribution proceeds are rolled over in an eligible plan, traditional IRA or Roth IRA. Plan participants who are no longer employed, but have a balance. The number of eligible participants actively contributing and participating in the plan. The rate is based upon participant information that is transmitted or input by the plan on the recordkeeping system Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 21

22 Glossary of Terms Term Total Plan Asset Balance Transfers Description A rollup of all contributions and deposit types, transfers in / out, interest and dividends, changes in value, fees and withdrawals, wals, and forfeiture assets plus the tal amount of all active, outstanding participant loans. A distribution that is taken for a qualifying reason in which the proceeds are disbursed as a permissible plan transfer Reporting Period Ending December 31, 2015 For Plan Sponsor and Advisor Use Only Page 22