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TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameTRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

HOOSICK FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:HOOSICK FEDERAL CREDIT UNION
Employer identification number (EIN):141408445
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01JAMES M MARTINEZ2023-03-31
0012021-01-01JAMES M MARTINEZ2022-04-08
0012020-01-01JAMES MARTINEZ2021-05-07
0012019-01-01JAMES M. MARTINEZ2020-07-24
0012019-01-01

Plan Statistics for TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST

401k plan membership statisitcs for TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2019: TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST 2019 401k membership
Total participants, beginning-of-year2019-01-0112
Total number of active participants reported on line 7a of the Form 55002019-01-019
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-012
Total of all active and inactive participants2019-01-0111
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0111
Number of participants with account balances2019-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-011

Financial Data on TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2019 : TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST 2019 401k financial data
Transfers to/from the plan2019-12-31$0
Total plan liabilities at end of year2019-12-31$0
Total plan liabilities at beginning of year2019-12-31$0
Total income from all sources2019-12-31$754,981
Expenses. Total of all expenses incurred2019-12-31$3,470
Benefits paid (including direct rollovers)2019-12-31$1,003
Total plan assets at end of year2019-12-31$751,511
Total plan assets at beginning of year2019-12-31$0
Value of fidelity bond covering the plan2019-12-31$1,000,000
Total contributions received or receivable from participants2019-12-31$20,722
Expenses. Other expenses not covered elsewhere2019-12-31$0
Contributions received from other sources (not participants or employers)2019-12-31$7,111
Other income received2019-12-31$717,441
Net income (gross income less expenses)2019-12-31$751,511
Net plan assets at end of year (total assets less liabilities)2019-12-31$751,511
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$0
Assets. Value of participant loans2019-12-31$8,211
Total contributions received or receivable from employer(s)2019-12-31$9,707
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$2,467
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
Funding deficiency by the employer to the plan for this plan year2019-12-31$0
Minimum employer required contribution for this plan year2019-12-31$0
Amount contributed by the employer to the plan for this plan year2019-12-31$0

Form 5500 Responses for TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST

2019: TRI STATE AREA FEDERAL CREDIT 401(K) PROFIT SHARING PLAN & TRUST 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes

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