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GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameGREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

GREAT LAKES ELECTONICS ALMET 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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

GREAT LAKES ELECTONICS ALMET has sponsored the creation of one or more 401k plans.

Company Name:GREAT LAKES ELECTONICS ALMET
Employer identification number (EIN):205272892
NAIC Classification:423930
NAIC Description:Recyclable Material Merchant Wholesalers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JAMES SHARP2024-10-14
0012022-09-01
0012022-09-01JAMES SHARP
0012012-01-01STEVE WEINBERG2014-10-06
0012011-01-01STEVE WEINBERG2014-10-06

Financial Data on GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2025 : GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-290
Total liabilities as of the end of the plan year2025-07-290
Total liabilities as of the beginning of the plan year2025-07-290
Total expenses incurred by plan in this plan year2025-07-2978278
Net assets as of the end of the plan year2025-07-29840415
Total assets as of the beginning of the plan year2025-07-29449603
Value of plan covered by a fidelity bond2025-07-29120000
Participant contributions to plan in this plan year2025-07-29387157
Other expenses paid from plan in this plan year2025-07-290
Other contributions to plan in this plan year2025-07-290
Other income to plan in this plan year2025-07-2981933
Plan net income in this plan year2025-07-29390812
Net assets as of the end of the plan year2025-07-29840415
Net assets as of the beginning of the plan year2025-07-29449603
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-294076
2024 : GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST 2024 401k financial data
Total transfers to/from plan in this plan year2024-10-140
Total liabilities as of the end of the plan year2024-10-140
Total liabilities as of the beginning of the plan year2024-10-140
Total expenses incurred by plan in this plan year2024-10-1431829
Net assets as of the end of the plan year2024-10-14449603
Total assets as of the beginning of the plan year2024-10-14112147
Value of plan covered by a fidelity bond2024-10-14100000
Participant contributions to plan in this plan year2024-10-14317368
Other expenses paid from plan in this plan year2024-10-140
Other contributions to plan in this plan year2024-10-140
Other income to plan in this plan year2024-10-1451917
Plan net income in this plan year2024-10-14337456
Net assets as of the end of the plan year2024-10-14449603
Net assets as of the beginning of the plan year2024-10-14112147
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-142400
2022 : GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$113,542
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$1,395
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,120
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$111,787
Value of total assets at end of year2022-12-31$112,147
Value of total assets at beginning of year2022-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$275
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$1,787
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$1,787
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$100,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$111,049
Participant contributions at end of year2022-12-31$5,156
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$738
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2022-12-31$204
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$112,147
Value of net assets at end of year (total assets less liabilities)2022-12-31$112,147
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$106,991
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-32
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$916
Contract administrator fees2022-12-31$275
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Total unrealized appreciation/depreciation of assets2022-09-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-09-01$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-09-01$0
Total income from all sources (including contributions)2022-09-01$113,542
Total loss/gain on sale of assets2022-09-01$0
Total of all expenses incurred2022-09-01$1,395
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-09-01$1,120
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-09-01$111,787
Value of total assets at end of year2022-09-01$112,147
Value of total assets at beginning of year2022-09-01$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-09-01$275
Total interest from all sources2022-09-01$0
Total dividends received (eg from common stock, registered investment company shares)2022-09-01$1,787
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-09-01No
Total dividends received from registered investment company shares (eg mutual funds)2022-09-01$1,787
Was this plan covered by a fidelity bond2022-09-01Yes
Value of fidelity bond cover2022-09-01$100,000
If this is an individual account plan, was there a blackout period2022-09-01No
Were there any nonexempt tranactions with any party-in-interest2022-09-01No
Contributions received from participants2022-09-01$111,049
Participant contributions at end of year2022-09-01$5,156
Income. Received or receivable in cash from other sources (including rollovers)2022-09-01$738
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2022-09-01$204
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-09-01No
Value of net income/loss2022-09-01$112,147
Value of net assets at end of year (total assets less liabilities)2022-09-01$112,147
Value of net assets at beginning of year (total assets less liabilities)2022-09-01$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-09-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-09-01No
Were any leases to which the plan was party in default or uncollectible2022-09-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-09-01$106,991
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-09-01$-32
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-09-01No
Was there a failure to transmit to the plan any participant contributions2022-09-01No
Has the plan failed to provide any benefit when due under the plan2022-09-01No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-09-01$916
Contract administrator fees2022-09-01$275
Did the plan have assets held for investment2022-09-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-09-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-09-01No

Form 5500 Responses for GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST

2022: GREAT LAKES ELECTONICS ALMET 401(K) PROFIT SHARING PLAN & TRUST 2022 form 5500 responses
2022-09-01Type of plan entitySingle employer plan
2022-09-01First time form 5500 has been submittedYes
2022-09-01This submission is the final filingNo
2022-09-01This return/report is a short plan year return/report (less than 12 months)Yes
2022-09-01Plan is a collectively bargained planNo
2022-09-01Plan funding arrangement – InsuranceYes
2022-09-01Plan funding arrangement – TrustYes
2022-09-01Plan benefit arrangement – InsuranceYes
2022-09-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number467968
Policy instance 1
Insurance contract or identification number467968
Number of Individuals Covered141
Insurance policy start date2022-09-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

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