PERFORMANCE MOTORS, INC. has sponsored the creation of one or more 401k plans.
Submission information for form 5500 for 401k plan PERFORMANCE MOTORS, INC. EMPLOYEE BENEFIT PLAN
| Measure | Date | Value |
|---|
| 2024 : PERFORMANCE MOTORS, INC. EMPLOYEE BENEFIT PLAN 2024 401k financial data |
|---|
| Total plan liabilities at end of year | 2024-06-30 | $28,711 |
| Total plan liabilities at beginning of year | 2024-06-30 | $69,918 |
| Total income from all sources | 2024-06-30 | $508,624 |
| Expenses. Total of all expenses incurred | 2024-06-30 | $478,088 |
| Benefits paid (including direct rollovers) | 2024-06-30 | $227,794 |
| Total plan assets at end of year | 2024-06-30 | $35,908 |
| Total plan assets at beginning of year | 2024-06-30 | $46,579 |
| Value of fidelity bond covering the plan | 2024-06-30 | $500,000 |
| Total contributions received or receivable from participants | 2024-06-30 | $175,637 |
| Expenses. Other expenses not covered elsewhere | 2024-06-30 | $257,853 |
| Contributions received from other sources (not participants or employers) | 2024-06-30 | $313 |
| Other income received | 2024-06-30 | $1,083 |
| Net income (gross income less expenses) | 2024-06-30 | $30,536 |
| Net plan assets at end of year (total assets less liabilities) | 2024-06-30 | $7,197 |
| Net plan assets at beginning of year (total assets less liabilities) | 2024-06-30 | $-23,339 |
| Total contributions received or receivable from employer(s) | 2024-06-30 | $331,591 |
| Value of corrective distributions | 2024-06-30 | $0 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2024-06-30 | $-7,559 |
| 2023 : PERFORMANCE MOTORS, INC. EMPLOYEE BENEFIT PLAN 2023 401k financial data |
|---|
| Total plan liabilities at end of year | 2023-06-30 | $69,918 |
| Total plan liabilities at beginning of year | 2023-06-30 | $0 |
| Total income from all sources | 2023-06-30 | $464,360 |
| Expenses. Total of all expenses incurred | 2023-06-30 | $487,699 |
| Benefits paid (including direct rollovers) | 2023-06-30 | $251,819 |
| Total plan assets at end of year | 2023-06-30 | $46,579 |
| Total plan assets at beginning of year | 2023-06-30 | $0 |
| Value of fidelity bond covering the plan | 2023-06-30 | $500,000 |
| Total contributions received or receivable from participants | 2023-06-30 | $173,309 |
| Expenses. Other expenses not covered elsewhere | 2023-06-30 | $228,261 |
| Contributions received from other sources (not participants or employers) | 2023-06-30 | $0 |
| Other income received | 2023-06-30 | $515 |
| Net income (gross income less expenses) | 2023-06-30 | $-23,339 |
| Net plan assets at end of year (total assets less liabilities) | 2023-06-30 | $-23,339 |
| Net plan assets at beginning of year (total assets less liabilities) | 2023-06-30 | $0 |
| Total contributions received or receivable from employer(s) | 2023-06-30 | $290,536 |
| Value of corrective distributions | 2023-06-30 | $0 |
| Expenses. Administrative service providers (salaries,fees and commissions) | 2023-06-30 | $7,619 |
| 2023: PERFORMANCE MOTORS, INC. EMPLOYEE BENEFIT PLAN 2023 form 5500 responses |
|---|
| 2023-07-01 | Type of plan entity | Single employer plan |
| 2023-07-01 | Submission has been amended | No |
| 2023-07-01 | This submission is the final filing | No |
| 2023-07-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2023-07-01 | Plan is a collectively bargained plan | No |
| 2023-07-01 | Plan funding arrangement – Insurance | Yes |
| 2023-07-01 | Plan funding arrangement – Trust | Yes |
| 2023-07-01 | Plan funding arrangement – General assets of the sponsor | Yes |
| 2023-07-01 | Plan benefit arrangement – Insurance | Yes |
| 2023-07-01 | Plan benefit arrangement - Trust | Yes |
| 2023-07-01 | Plan benefit arrangement – General assets of the sponsor | Yes |
| 2022: PERFORMANCE MOTORS, INC. EMPLOYEE BENEFIT PLAN 2022 form 5500 responses |
|---|
| 2022-07-01 | Type of plan entity | Single employer plan |
| 2022-07-01 | First time form 5500 has been submitted | Yes |
| 2022-07-01 | Submission has been amended | No |
| 2022-07-01 | This submission is the final filing | No |
| 2022-07-01 | This return/report is a short plan year return/report (less than 12 months) | No |
| 2022-07-01 | Plan is a collectively bargained plan | No |
| 2022-07-01 | Plan funding arrangement – Insurance | Yes |
| 2022-07-01 | Plan funding arrangement – Trust | Yes |
| 2022-07-01 | Plan funding arrangement – General assets of the sponsor | Yes |
| 2022-07-01 | Plan benefit arrangement – Insurance | Yes |
| 2022-07-01 | Plan benefit arrangement - Trust | Yes |
| 2022-07-01 | Plan benefit arrangement – General assets of the sponsor | Yes |
| SUN LIFE ASSURANCE COMPANY OF CANADA (National Association of Insurance Commissioners NAIC id number: 80802 ) |
| Policy contract number | 954200 |
| Policy instance | 1 |
| Insurance contract or identification number | 954200 | | Number of Individuals Covered | 57 | | Insurance policy start date | 2023-07-01 | | Insurance policy end date | 2024-06-30 | | Total amount of commissions paid to insurance broker | USD $2,926 | | Total amount of fees paid to insurance company | USD $0 | | Are there contracts with allocated funds for individual policies? | 0 | | Are there contracts with allocated funds for group deferred annuity? | No | | Are there contracts with allocated funds for types other than group deferred annuity or individual? | No | | Contract purchased, in whole or in part, to distribute benefits from a terminating plan | No | | Contracts With Unallocated Funds Deposit Administration | 0 | | Are there contracts with unallocated funds for contracts of type immediate participation guarantee? | No | | Are there contracts with unallocated funds for contracts of type guaranteed investment? | No | | Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment? | No | | Health Insurance Welfare Benefit | No | | Dental Insurance Welfare Benefit | Yes | | Vision Insurance Welfare Benefit | Yes | | Life Insurance Welfare Benefit | No | | Temporary Disability Insurance Welfare Benefit | No | | Long Term Disability Insurance Welfare Benefit | No | | Unemployment Insurance Welfare Benefit | No | | Were dividends or retroactive rate refunds paid in cash? | No | | Were dividends or retroactive rate refunds paid as a credit? | No | | Welfare Benefit Premiums Paid to Carrier | USD $29,260 | | Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500? | No |
|
| HM LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 93440 ) |
| Policy contract number | 408584-A |
| Policy instance | 2 |
| Insurance contract or identification number | 408584-A | | Number of Individuals Covered | 60 | | Insurance policy start date | 2023-07-01 | | Insurance policy end date | 2024-06-30 | | Are there contracts with allocated funds for individual policies? | 0 | | Are there contracts with allocated funds for group deferred annuity? | No | | Are there contracts with allocated funds for types other than group deferred annuity or individual? | No | | Contract purchased, in whole or in part, to distribute benefits from a terminating plan | No | | Contracts With Unallocated Funds Deposit Administration | 0 | | Are there contracts with unallocated funds for contracts of type immediate participation guarantee? | No | | Are there contracts with unallocated funds for contracts of type guaranteed investment? | No | | Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment? | No | | Health Insurance Welfare Benefit | No | | Dental Insurance Welfare Benefit | No | | Vision Insurance Welfare Benefit | No | | Life Insurance Welfare Benefit | No | | Temporary Disability Insurance Welfare Benefit | No | | Long Term Disability Insurance Welfare Benefit | No | | Unemployment Insurance Welfare Benefit | No | | Were dividends or retroactive rate refunds paid in cash? | No | | Were dividends or retroactive rate refunds paid as a credit? | No | | Welfare Benefit Premiums Paid to Carrier | USD $194,001 | | Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500? | No |
|
| SUN LIFE ASSURANCE COMPANY OF CANADA (National Association of Insurance Commissioners NAIC id number: 80802 ) |
| Policy contract number | 954200 |
| Policy instance | 1 |
| EVEREST REINSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 26921 ) |
| Policy contract number | SL31000312-221 |
| Policy instance | 2 |
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