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M & B SEA PRODUCTS, INC. 401(K) PLAN 401k Plan overview

Plan NameM & B SEA PRODUCTS, INC. 401(K) PLAN
Plan identification number 001

M & B SEA PRODUCTS, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • 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.
  • 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.
  • 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 contribtions 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.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

M & B SEA PRODUCTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:M & B SEA PRODUCTS, INC.
Employer identification number (EIN):043215421
NAIC Classification:114110

Form 5500 Filing Information

Submission information for form 5500 for 401k plan M & B SEA PRODUCTS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JOHN MURRAY2024-12-04
0012022-01-01
0012021-01-01JOHN MURRAY2022-10-10 JOHN MURRAY2022-10-10
0012020-01-01JOHN MURRAY2021-09-17 JOHN MURRAY2021-09-17

Plan Statistics for M & B SEA PRODUCTS, INC. 401(K) PLAN

401k plan membership statisitcs for M & B SEA PRODUCTS, INC. 401(K) PLAN

Measure Date Value
2024: M & B SEA PRODUCTS, INC. 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-12-0440
Total number of particpants at end of year2024-12-0442
Number of Participants With Account Balances2024-12-0436
2022: M & B SEA PRODUCTS, INC. 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-10-1030
Total number of particpants at end of year2022-10-1034
Number of Participants With Account Balances2022-10-1034

Financial Data on M & B SEA PRODUCTS, INC. 401(K) PLAN

Measure Date Value
2024 : M & B SEA PRODUCTS, INC. 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-12-0416796
Total liabilities as of the end of the plan year2024-12-040
Total liabilities as of the beginning of the plan year2024-12-040
Total expenses incurred by plan in this plan year2024-12-040
Net assets as of the end of the plan year2024-12-04807765
Total assets as of the beginning of the plan year2024-12-04470983
Value of plan covered by a fidelity bond2024-12-04125000
Participant contributions to plan in this plan year2024-12-0477179
Other expenses paid from plan in this plan year2024-12-040
Other contributions to plan in this plan year2024-12-040
Other income to plan in this plan year2024-12-0465621
Plan net income in this plan year2024-12-04319986
Net assets as of the end of the plan year2024-12-04807765
Net assets as of the beginning of the plan year2024-12-04470983
Employer contributions to plan in this plan year2024-12-04177186
Expensese paid to adminstrative service provicers from plan in this plan year2024-12-040
2022 : M & B SEA PRODUCTS, INC. 401(K) PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-10-100
Net assets as of the end of the plan year2022-10-10463642
Total assets as of the beginning of the plan year2022-10-10153548
Participant contributions to plan in this plan year2022-10-1016432
Other contributions to plan in this plan year2022-10-10103240
Other income to plan in this plan year2022-10-105352
Plan net income in this plan year2022-10-10310094
Net assets as of the end of the plan year2022-10-10463642
Net assets as of the beginning of the plan year2022-10-10153548
Employer contributions to plan in this plan year2022-10-10185070

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