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| Plan Name | LAKE NORMAN TEAM, INC. 401(K) PROFIT SHARING PLAN AND TRUST |
| Plan identification number | 001 |
| 401k Plan Type | Defined Contribution Pension |
| Plan Features/Benefits |
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| Company Name: | LAKE NORMAN TEAM, INC. |
| Employer identification number (EIN): | 542113897 |
| NAIC Classification: | 531210 |
| NAIC Description: | Offices of Real Estate Agents and Brokers |
| Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
|---|---|---|---|---|---|
| 001 | 2010-01-01 | CAROLYN R. BROWN | 2011-02-22 | ||
| 001 | 2008-01-01 | CAROLYN BROWN |
| Measure | Date | Value |
|---|---|---|
| 2008: LAKE NORMAN TEAM, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2008 401k membership | ||
| Total participants, beginning-of-year | 2008-01-01 | 4 |
| Total number of active participants reported on line 7a of the Form 5500 | 2008-01-01 | 2 |
| Number of retired or separated participants receiving benefits | 2008-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2008-01-01 | 1 |
| Total of all active and inactive participants | 2008-01-01 | 3 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2008-01-01 | 0 |
| Total participants | 2008-01-01 | 3 |
| Number of participants with account balances | 2008-01-01 | 3 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2008-01-01 | 0 |
| Measure | Date | Value |
|---|---|---|
| 2008 : LAKE NORMAN TEAM, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2008 401k financial data | ||
| Total income from all sources | 2008-12-31 | $-66,208 |
| Expenses. Total of all expenses incurred | 2008-12-31 | $3,608 |
| Benefits paid (including direct rollovers) | 2008-12-31 | $520 |
| Total plan assets at end of year | 2008-12-31 | $157,151 |
| Total plan assets at beginning of year | 2008-12-31 | $226,967 |
| Value of fidelity bond covering the plan | 2008-12-31 | $265,000 |
| Total contributions received or receivable from participants | 2008-12-31 | $10,000 |
| Expenses. Other expenses not covered elsewhere | 2008-12-31 | $3,088 |
| Other income received | 2008-12-31 | $-77,558 |
| Net income (gross income less expenses) | 2008-12-31 | $-69,816 |
| Net plan assets at end of year (total assets less liabilities) | 2008-12-31 | $157,151 |
| Net plan assets at beginning of year (total assets less liabilities) | 2008-12-31 | $226,967 |
| Total contributions received or receivable from employer(s) | 2008-12-31 | $1,350 |
| Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities | 2008-12-31 | $0 |
| 2008: LAKE NORMAN TEAM, INC. 401(K) PROFIT SHARING PLAN AND TRUST 2008 form 5500 responses | ||
|---|---|---|
| 2008-01-01 | Type of plan entity | Single employer plan |
| 2008-01-01 | Submission has been amended | Yes |
| 2008-01-01 | This submission is the final filing | No |
| 2008-01-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2008-01-01 | Plan is a collectively bargained plan | No |
| 2008-01-01 | Plan funding arrangement – Insurance | Yes |
| 2008-01-01 | Plan funding arrangement – Trust | Yes |
| 2008-01-01 | Plan benefit arrangement – Insurance | Yes |
| 2008-01-01 | Plan benefit arrangement - Trust | Yes |
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