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THE TOOL PRO, INC. PROFIT SHARING PLAN 401k Plan overview

Plan NameTHE TOOL PRO, INC. PROFIT SHARING PLAN
Plan identification number 001

THE TOOL PRO, INC. PROFIT SHARING 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.
  • Plan covering Self-Employed individuals.
  • 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.

401k Sponsoring company profile

THE TOOL PRO, INC. has sponsored the creation of one or more 401k plans.

Company Name:THE TOOL PRO, INC.
Employer identification number (EIN):133793052
NAIC Classification:444190
NAIC Description:Other Building Material Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE TOOL PRO, INC. PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01THE TOOL PRO INC2024-05-17
0012022-01-01VINDRA RAMKISSOON2023-06-13
0012021-01-01VINDRA RAMKISSOON2022-06-23
0012020-01-01ELI LOPEZ2021-06-16 ELI LOPEZ2021-06-16
0012020-01-01ELI LOPEZ2021-08-04 ELI LOPEZ2021-08-04
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01
0012015-01-01
0012013-01-01
0012012-01-01ROBERT ACKERMAN2013-04-28 ROBERT ACKERMAN2013-04-28
0012011-01-01ROBERT ACKERMAN ROBERT ACKERMAN2012-12-31
0012010-01-01ROBERT ACKERMAN2011-07-20 ROBERT ACKERMAN2011-07-20

Plan Statistics for THE TOOL PRO, INC. PROFIT SHARING PLAN

401k plan membership statisitcs for THE TOOL PRO, INC. PROFIT SHARING PLAN

Measure Date Value
2025: THE TOOL PRO, INC. PROFIT SHARING PLAN 2025 401k membership
Total number of particpants at beginning of year2025-06-1655
Total number of particpants at end of year2025-06-1653
Number of Participants With Account Balances2025-06-1629
2024: THE TOOL PRO, INC. PROFIT SHARING PLAN 2024 401k membership
Total number of particpants at beginning of year2024-06-2054
Total number of particpants at end of year2024-06-2055
Number of Participants With Account Balances2024-06-2031
2011: THE TOOL PRO, INC. PROFIT SHARING PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-0110
Total number of active participants reported on line 7a of the Form 55002011-01-0110
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-0110
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-0110
Number of participants with account balances2011-01-016
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010

Financial Data on THE TOOL PRO, INC. PROFIT SHARING PLAN

Measure Date Value
2025 : THE TOOL PRO, INC. PROFIT SHARING PLAN 2025 401k financial data
Total liabilities as of the beginning of the plan year2025-06-160
Total expenses incurred by plan in this plan year2025-06-168904
Net assets as of the end of the plan year2025-06-161656580
Total assets as of the beginning of the plan year2025-06-161256318
Value of plan covered by a fidelity bond2025-06-16100000
Participant contributions to plan in this plan year2025-06-16132444
Value of participant loans at end of plan year2025-06-169000
Other income to plan in this plan year2025-06-16211561
Plan net income in this plan year2025-06-16400262
Net assets as of the end of the plan year2025-06-161656580
Net assets as of the beginning of the plan year2025-06-161256318
Employer contributions to plan in this plan year2025-06-1665161
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-161199
2024 : THE TOOL PRO, INC. PROFIT SHARING PLAN 2024 401k financial data
Total liabilities as of the beginning of the plan year2024-06-200
Total expenses incurred by plan in this plan year2024-06-2022260
Net assets as of the end of the plan year2024-06-201256318
Total assets as of the beginning of the plan year2024-06-20872883
Value of plan covered by a fidelity bond2024-06-20100000
Participant contributions to plan in this plan year2024-06-20153195
Value of participant loans at end of plan year2024-06-204675
Other income to plan in this plan year2024-06-20186525
Plan net income in this plan year2024-06-20383435
Net assets as of the end of the plan year2024-06-201256318
Net assets as of the beginning of the plan year2024-06-20872883
Employer contributions to plan in this plan year2024-06-2065975
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-202640

Form 5500 Responses for THE TOOL PRO, INC. PROFIT SHARING PLAN

2011: THE TOOL PRO, INC. PROFIT SHARING PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

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