NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE A
DESCRIPTION OF THE PLAN
The following description of the Power Great Lakes, Inc. Employees 401(k) Profit Sharing Plan (the Plan) provides only general information.
Interested parties should refer to the plan document for a more complete description of the Plan's provisions.
The Plan is a defined contribution profit sharing and 401(k) plan covering
eligible employees of Power Great Lakes, Inc. (the Company), a wholly-owned subsidiary of Power Solutions International, Inc. (PSI). Employees are eligible to contribute to the Plan and receive discretionary employer matching
contributions on the first day of a calendar quarter upon attaining age 21. Employees are eligible to participate in discretionary profit sharing contributions upon completing 501 hours of service and being employed on the last day of the plan year.
Employees represented by a collective bargaining agreement are not eligible to participate in the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
The Plan is funded by voluntary contributions of participants and
discretionary matching and profit sharing contributions of the Company. Participants may contribute to the Plan, through regular payroll deductions, an amount subject to limitations imposed by the Internal Revenue Code. Participants may also roll
over amounts representing distributions from other qualified employee benefit plans. The Company did not make or accrue a discretionary matching or profit sharing contribution to the Plan for the year ended December 31, 2016.
Participants must direct their salary deferral contributions and
the Companys contributions into a variety of investment funds made available and determined by the Plan Administrator. Participants may change their investment options at any time. The participant may also elect to invest in an employer stock
fund or an individually directed brokerage account held by TD Ameritrade.
Each participants account is credited with the
participants contribution, an allocation of the Companys discretionary matching and profit sharing contributions, and an allocation of plan earnings. The Companys discretionary matching contribution is allocated based on a
percentage of the participants contribution. The Companys discretionary profit sharing contribution is allocated as of the last day of the plan year and is based on a ratio of each eligible participants compensation to total
compensation for all eligible participants. Plan earnings are allocated to participants accounts in direct proportion to their respective account balances, based on the performance of participants investment selections. The benefit to
which a participant is entitled is the benefit that can be provided from the participants vested account balance.
-8-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE A
DESCRIPTION OF THE PLAN
(Continued)
Participants are immediately fully vested in participant and rollover
contributions plus the actual earnings thereon. The portion of the participants accounts attributable to the Companys contributions becomes 20% vested after one year of service and continues to vest at the rate of 20% for each successive
year until 100% vested after five years of service. In the event of death, disability, or retirement at designated ages, a participant becomes fully vested.
On termination of service, a participant may elect to receive a
single, lump-sum payment equal to the value of his or her vested account balance, installment payments, or a direct rollover distribution. If a participants vested account balance is less than $1,000 upon termination, the participant will
receive a mandatory distribution.
7.
|
Notes Receivable from Participants
|
Notes receivable represent amounts due from
participants. Participants are permitted to take loans from the Plan up to a maximum equal to the lesser of $50,000 or 50% of their vested account balances. The loans are collateralized by the borrowers respective vested account balances and
bear interest at 4.25% to 4.50%. Principal and interest are paid through payroll deductions over a period not to exceed five years. Related interest income totaled $7,467 for the year ended December 31, 2016.
8.
|
Administrative Expenses
|
Certain expenses incurred maintaining the Plan are paid
directly by the Company and are excluded from these financial statements.
At December 31, 2016 and 2015, unallocated plan assets resulting from
forfeited nonvested accounts totaled $1,183 and $1,071, respectively. These accounts are first used to pay administrative expenses or to reduce future Company contributions, and any remaining forfeitures are allocated to participants. No forfeitures
were used or allocated to participants during 2016.
NOTE B
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the Plan are prepared on the accrual
basis of accounting.
-9-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE B
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
2.
|
Investment Valuation and Income Recognition
|
Investments are reported at fair value.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan Administrator determines the Plans valuation policies
utilizing information provided by the investment advisers and custodians. See Note C for discussion of fair value measurements.
Purchases
and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plans gains and losses on investments purchased and
sold as well as held during the year.
In preparing the Plans financial statements, management is
required to make estimates and assumptions that affect the reported amounts of net assets, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of changes in net assets during the
reporting period. Actual results could differ from those estimates.
Benefits are recorded when paid.
5.
|
Accounting for Uncertainty in Income Taxes
|
Accounting principles generally accepted in
the United States of America require plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination. The plan
administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2016 and 2015, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or
disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax period in progress. The Plan Administrator believes the Plan is no longer subject to income tax
examinations for years prior to 2013.
6.
|
Notes Receivable from Participants
|
Notes receivable from participants are measured at
their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expense and are expensed when they are incurred. No allowance for credit losses has
been recorded as of December 31, 2016 and 2015. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be in default, the participant loan balance is reduced and a benefit payment is recorded.
7.
|
Excess Contributions Payable
|
Amounts payable to participants for contributions in
excess of amounts allowed by the Internal Revenue Service are recorded as a liability with a corresponding reduction to contributions.
Some items in the prior year financial statements and footnote
disclosures were reclassified to conform to the current presentation. The reclassifications had no effect on prior year net assets available for benefits or the prior year net increase in net assets available for benefits.
-10-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE C
FAIR VALUE MEASUREMENTS
Current accounting standards establish a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes
the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable
inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
|
Level 1
|
Inputs to the valuation methodology are unadjusted quoted market prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
|
Level 2
|
Inputs to the valuation methodology include the following:
|
|
*
|
Quoted prices for similar assets or liabilities in active markets;
|
|
*
|
Quoted prices for identical or similar assets or liabilities in inactive markets;
|
|
*
|
Inputs other than quoted prices that are observable for the asset or liability;
|
|
*
|
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the
asset or liability.
|
Level 3
|
Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
|
The asset's or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is
significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
The following is a description of the valuation methodologies used for the Plan's investments measured at fair value. There have been no
changes in the methodologies used at December 31, 2016 and 2015.
Mutual funds:
Valued at the daily closing price as reported by
the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (NAV) and to transact at that price. The mutual funds
held by the Plan are deemed to be actively traded.
Common stocks:
Valued at the closing price reported on the active market on
which the individual securities are traded.
-11-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE C
FAIR VALUE MEASUREMENTS
(Continued)
Stable value collective trust fund:
A stable value fund that is composed primarily of fully benefit-responsive investment contracts
that is valued at the NAV of units of the bank collective trust. The NAV is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment
for an amount different from the reported NAV.
Self-directed brokerage accounts:
Self-directed brokerage accounts may include
mutual funds, common stocks and interest bearing money market accounts. Mutual funds are valued at the daily closing price as reported by the fund. Common stocks are valued at the closing price reported on the active market on which the individual
securities are traded. Money market funds are valued at their NAV.
The following tables set forth by level, within the fair value
hierarchy, the Plans investments at fair value as of December 31, 2016 and 2015.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plan Investments at Fair Value as of December 31, 2016
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Mutual funds
|
|
$
|
7,977,878
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
7,977,878
|
|
Self-directed brokerage accounts
|
|
|
248,242
|
|
|
|
|
|
|
|
|
|
|
|
248,242
|
|
Common stocks
|
|
|
59,288
|
|
|
|
|
|
|
|
|
|
|
|
59,288
|
|
Interest bearing cash accounts
|
|
|
8,993
|
|
|
|
|
|
|
|
|
|
|
|
8,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets in the fair value hierarchy
|
|
$
|
8,294,401
|
|
|
$
|
|
|
|
$
|
|
|
|
|
8,294,401
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments measured at NAV*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
894,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
9,189,394
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plan Investments at Fair Value as of December 31, 2015
|
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
Mutual funds
|
|
$
|
6,835,246
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
6,835,246
|
|
Self-directed brokerage accounts
|
|
|
300,742
|
|
|
|
|
|
|
|
|
|
|
|
300,742
|
|
Common stocks
|
|
|
77,379
|
|
|
|
|
|
|
|
|
|
|
|
77,379
|
|
Interest bearing cash accounts
|
|
|
8,173
|
|
|
|
|
|
|
|
|
|
|
|
8,173
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets in the fair value hierarchy
|
|
$
|
7,221,540
|
|
|
$
|
|
|
|
$
|
|
|
|
|
7,221,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments measured at NAV*
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
626,097
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
7,847,637
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-12-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE C
FAIR VALUE MEASUREMENTS
(Continued)
*
|
Certain investments that were measured at NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table for such
investments are intended to permit reconciliation of the fair value hierarchy to the investments at fair value line item presented in the statement of net assets available for benefits.
|
The following tables summarize investments for which fair value is measured using the NAV per share practical expedient as of December 31,
2016, and 2015, respectively. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016
|
|
|
|
Fair Value
|
|
|
Unfunded
Commitment
|
|
|
Redemption
Frequency
|
|
|
Redemption
Notice Period
|
|
Stable value fund
|
|
$
|
894,993
|
|
|
$
|
|
|
|
|
Immediate
|
|
|
|
12 Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2015
|
|
|
|
Fair Value
|
|
|
Unfunded
Commitment
|
|
|
Redemption
Frequency
|
|
|
Redemption
Notice Period
|
|
Stable value fund
|
|
$
|
626,097
|
|
|
$
|
|
|
|
|
Immediate
|
|
|
|
12 Months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE D
INCOME TAX STATUS
Effective July 1, 2015, the Plan adopted a nonstandardized form of a prototype plan sponsored by Fifth Third Bank. The prototype plan has received an opinion
letter, dated March 31, 2014, from the Internal Revenue Service as to the prototype plans qualified status. The prototype plan opinion letter has been relied upon by this Plan. The Plan Administrator believes that the Plan is currently
designed and being operated in compliance with the applicable provisions of the Internal Revenue Code.
NOTE E
PLAN
TERMINATION
The Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions
of ERISA. In the event of plan termination, participants become fully vested in their respective account balances. As further discussed in Note I Plan Amendment and Note J Subsequent Events,
the Plan was frozen in 2017.
NOTE F
RISKS AND UNCERTAINTIES
The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks.
Because of the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect
participants account balances and the amounts reported in the statement of net assets available for benefits.
-13-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE G
PARTY-IN-INTEREST TRANSACTIONS
Notes receivable from participants are considered party in interest transactions. At December 31, 2016 and 2015, notes receivable from participants, including
accrued interest were $186,088 and $126,239, respectively.
At December 31, 2016 and 2015, the Plan held shares of common stock of Power Solutions
International, Inc. as noted below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016
|
|
|
2015
|
|
|
|
Shares
|
|
|
Value
|
|
|
Shares
|
|
|
Value
|
|
Fifth Third Bank PSIX stock fund
|
|
|
7,905
|
|
|
$
|
59,288
|
|
|
|
4,240
|
|
|
$
|
77,379
|
|
Self-directed brokerage accounts
|
|
|
2,892
|
|
|
|
21,690
|
|
|
|
2,892
|
|
|
|
52,780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
10,797
|
|
|
$
|
80,978
|
|
|
|
7,132
|
|
|
$
|
130,159
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTE H
RECONCILIATION OF AUDITED FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for benefits from these financial statements to the Form 5500.
|
|
|
|
|
|
|
|
|
|
|
2016
|
|
|
2015
|
|
Net assets available for benefits per the financial statements
|
|
$
|
9,279,074
|
|
|
$
|
7,905,592
|
|
Excess contributions payable
|
|
|
147,550
|
|
|
|
117,723
|
|
|
|
|
|
|
|
|
|
|
Net assets available for benefits per the Form 5500
|
|
$
|
9,426,624
|
|
|
$
|
8,023,315
|
|
|
|
|
|
|
|
|
|
|
The following is a reconciliation of change in net assets per the financial statements to the Form 5500.
|
|
|
|
|
Change in net assets per the financial statements
|
|
$
|
1,373,482
|
|
Change in excess contributions payable
|
|
|
29,827
|
|
|
|
|
|
|
Change in net assets per Form 5500
|
|
$
|
1,403,309
|
|
|
|
|
|
|
NOTE I
PLAN AMENDMENT
Employee contributions to the Plan, other than employee loan repayments, ceased as of December 31, 2016. The Plan was frozen effective January 1, 2017 for all
contributions. See Note J Subsequent Events for a further discussion on the 401(k) plan established by PSI subsequent to December 31, 2016.
-14-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
December 31, 2016 and 2015
NOTE J
SUBSEQUENT EVENTS
Plan management has evaluated events occurring after December 31, 2016, and have deteremined that no events or transactions, other than the items described
below, have occurred subsequent to December 31, 2016, that require disclosure in the financial statements.
Effective January 1, 2017, PSI established the
PSI, Inc. 401(k) Plan (PSI Plan). The PSI Plan is intended to supersede all existing 401(k) plans of PSI, including the Power Great Lakes, Inc. Employees 401(k) Profit Sharing Plan. At inception of the PSI Plan, participants in the Power
Great Lakes, Inc. Employees 401(k) Profit Sharing Plan became eligible to make contributions into the PSI Plan which provides additional benefits to participating employees, including but not limited to, entry into the PSI Plan on the first day of
the month following the employees start date with PSI, contributions on a before-tax basis and contributions designated as Roth 401(k) contributions.
Management is evaluating alternatives with respect to the continuation of the Power Great Lakes, Inc. Employees 401(k) Profit Sharing Plan but a final
determination has not been made.
-15-
SUPPLEMENTAL INFORMATION
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2016
FEIN: 36-3398606
Plan Number: 001
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
(b)
Identity of issuer, borrower, lessor, or similar party
|
|
(c)
Description of investment, including maturity date, rate of
interest, collateral, par or maturity value
|
|
(d)
Cost
|
|
|
(e)
Current value
|
|
|
|
Mutual funds
|
|
|
|
|
|
|
|
|
|
|
|
|
PIMCO Funds
|
|
Real Return A Fund
|
|
|
*
|
*
|
|
$
|
244,579
|
|
|
|
PIMCO Funds
|
|
Total Return Fund
|
|
|
*
|
*
|
|
|
203,220
|
|
|
|
JPMorgan
|
|
Core Bond Fund Select
|
|
|
*
|
*
|
|
|
533,411
|
|
|
|
American Beacon
|
|
Small Cap Value Fund
|
|
|
*
|
*
|
|
|
235,711
|
|
|
|
T. Rowe Price
|
|
Mid-Cap Value Fund
|
|
|
*
|
*
|
|
|
1,207,887
|
|
|
|
T. Rowe Price
|
|
New Horizons Fund
|
|
|
*
|
*
|
|
|
632,304
|
|
|
|
Artisan
|
|
Mid Cap Investor Fund
|
|
|
*
|
*
|
|
|
76,533
|
|
|
|
American Funds
|
|
Growth Fund of America
|
|
|
*
|
*
|
|
|
393,968
|
|
|
|
American Funds
|
|
Fundamental Investors Fund
|
|
|
*
|
*
|
|
|
719,315
|
|
|
|
American Funds
|
|
New Economy Fund
|
|
|
*
|
*
|
|
|
198,044
|
|
|
|
MFS
|
|
Value R4 Fund
|
|
|
*
|
*
|
|
|
370,895
|
|
|
|
American Funds
|
|
Investment Company of America Fund
|
|
|
*
|
*
|
|
|
212,134
|
|
|
|
American Funds
|
|
American Balanced Fund
|
|
|
*
|
*
|
|
|
587,567
|
|
|
|
American Funds
|
|
New Perspective Fund
|
|
|
*
|
*
|
|
|
242,425
|
|
|
|
American Funds
|
|
EuroPacific Growth Fund
|
|
|
*
|
*
|
|
|
598,318
|
|
|
|
American Funds
|
|
Capital World Growth and Income Fund
|
|
|
*
|
*
|
|
|
394,556
|
|
|
|
American Funds
|
|
SMALLCAP World Fund
|
|
|
*
|
*
|
|
|
155,200
|
|
|
|
American Funds
|
|
New World Fund
|
|
|
*
|
*
|
|
|
46,544
|
|
|
|
Oppenheimer
|
|
International Bond Fund
|
|
|
*
|
*
|
|
|
126,689
|
|
|
|
American Funds
|
|
2015 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
11,395
|
|
|
|
American Funds
|
|
2020 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
172,721
|
|
|
|
American Funds
|
|
2025 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
253,439
|
|
|
|
American Funds
|
|
2030 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
127,717
|
|
|
|
American Funds
|
|
2035 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
42,761
|
|
|
|
American Funds
|
|
2040 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
32,180
|
|
|
|
American Funds
|
|
2045 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
20,232
|
|
|
|
American Funds
|
|
2050 Target Retirement Date Fund
|
|
|
*
|
*
|
|
|
138,133
|
|
(Continued)
-17-
Power Great Lakes, Inc. Employees
401(k) Profit Sharing Plan
SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) (Continued)
December 31, 2016
FEIN: 36-3398606
Plan Number: 001
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
|
(b)
Identity of issuer, borrower, lessor, or similar party
|
|
(c)
Description of investment, including maturity date, rate of
interest, collateral, par or maturity value
|
|
(d)
Cost
|
|
|
(e)
Current value
|
|
*
|
|
Common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
Power Solutions International, Inc.
|
|
Equity security
|
|
|
*
|
*
|
|
$
|
59,288
|
|
|
|
Stable value collective trust fund
|
|
|
|
|
|
|
|
|
|
|
|
|
The Goldman Sachs Trust Company
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goldman Sachs Stable Value
Collective Trust Fund Class III
|
|
|
*
|
*
|
|
|
894,993
|
|
*
|
|
Self-directed brokerage accounts
|
|
|
|
|
|
|
|
|
|
|
|
|
Various
|
|
Participant-directed brokerage accounts
|
|
|
*
|
*
|
|
|
248,242
|
|
*
|
|
Interest bearing cash accounts
|
|
|
|
|
*
|
*
|
|
|
8,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,189,394
|
|
*
|
|
Notes receivables from participants
|
|
Interest at 4.25% 4.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
Various maturities 2017 2021
|
|
|
*
|
*
|
|
|
186,088
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
9,375,482
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All current values above represent the fair value for the respective investment.
* Represents a party in interest.
** Cost
information omitted with respect to participant- or beneficiary-directed investments.
-18-