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PENSION PLAN OF DIRECT BRANDS, INC. 401k Plan overview

Plan NamePENSION PLAN OF DIRECT BRANDS, INC.
Plan identification number 002

PENSION PLAN OF DIRECT BRANDS, INC. Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

DIRECT BRANDS INC. has sponsored the creation of one or more 401k plans.

Company Name:DIRECT BRANDS INC.
Employer identification number (EIN):232813867
NAIC Classification:454110
NAIC Description:Electronic Shopping and Mail-Order Houses

Form 5500 Filing Information

Submission information for form 5500 for 401k plan PENSION PLAN OF DIRECT BRANDS, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022014-01-01JAMES CAVANAUGH
0022014-01-01JAMES CAVANAUGH
0022013-01-01JAMES CAVANAUGH
0022012-01-01JAMES CAVANAUGH
0022011-08-01CHERYL CUCCO

Plan Statistics for PENSION PLAN OF DIRECT BRANDS, INC.

401k plan membership statisitcs for PENSION PLAN OF DIRECT BRANDS, INC.

Measure Date Value
2014: PENSION PLAN OF DIRECT BRANDS, INC. 2014 401k membership
Total participants, beginning-of-year2014-01-011,343
Total number of active participants reported on line 7a of the Form 55002014-01-01138
Number of retired or separated participants receiving benefits2014-01-01331
Number of other retired or separated participants entitled to future benefits2014-01-01804
Total of all active and inactive participants2014-01-011,273
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-0119
Total participants2014-01-011,292
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010
2013: PENSION PLAN OF DIRECT BRANDS, INC. 2013 401k membership
Total participants, beginning-of-year2013-01-011,476
Total number of active participants reported on line 7a of the Form 55002013-01-01177
Number of retired or separated participants receiving benefits2013-01-01308
Number of other retired or separated participants entitled to future benefits2013-01-01837
Total of all active and inactive participants2013-01-011,322
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2013-01-0121
Total participants2013-01-011,343
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2013-01-010
2012: PENSION PLAN OF DIRECT BRANDS, INC. 2012 401k membership
Total participants, beginning-of-year2012-01-011,561
Total number of active participants reported on line 7a of the Form 55002012-01-01358
Number of retired or separated participants receiving benefits2012-01-01287
Number of other retired or separated participants entitled to future benefits2012-01-01810
Total of all active and inactive participants2012-01-011,455
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-0121
Total participants2012-01-011,476
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: PENSION PLAN OF DIRECT BRANDS, INC. 2011 401k membership
Total participants, beginning-of-year2011-08-011,584
Total number of active participants reported on line 7a of the Form 55002011-08-01513
Number of retired or separated participants receiving benefits2011-08-01250
Number of other retired or separated participants entitled to future benefits2011-08-01776
Total of all active and inactive participants2011-08-011,539
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-08-0122
Total participants2011-08-011,561
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-08-010

Financial Data on PENSION PLAN OF DIRECT BRANDS, INC.

Measure Date Value
2014 : PENSION PLAN OF DIRECT BRANDS, INC. 2014 401k financial data
Total unrealized appreciation/depreciation of assets2014-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2014-12-31$0
Total income from all sources (including contributions)2014-12-31$836,987
Total loss/gain on sale of assets2014-12-31$0
Total of all expenses incurred2014-12-31$1,588,405
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2014-12-31$1,588,405
Total contributions o plan (from employers,participants, others, non cash contrinutions)2014-12-31$342,292
Value of total assets at end of year2014-12-31$20,286,004
Value of total assets at beginning of year2014-12-31$21,037,422
Total of administrative expenses incurred including professional, contract, advisory and management fees2014-12-31$0
Total interest from all sources2014-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2014-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2014-12-31No
Was this plan covered by a fidelity bond2014-12-31Yes
Value of fidelity bond cover2014-12-31$10,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2014-12-31$0
Were there any nonexempt tranactions with any party-in-interest2014-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Value of net income/loss2014-12-31$-751,418
Value of net assets at end of year (total assets less liabilities)2014-12-31$20,286,004
Value of net assets at beginning of year (total assets less liabilities)2014-12-31$21,037,422
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2014-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2014-12-31No
Were any leases to which the plan was party in default or uncollectible2014-12-31No
Value of interest in master investment trust accounts at end of year2014-12-31$20,286,004
Value of interest in master investment trust accounts at beginning of year2014-12-31$20,879,714
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2014-12-31No
Was there a failure to transmit to the plan any participant contributions2014-12-31No
Has the plan failed to provide any benefit when due under the plan2014-12-31No
Contributions received in cash from employer2014-12-31$342,292
Employer contributions (assets) at end of year2014-12-31$0
Employer contributions (assets) at beginning of year2014-12-31$157,708
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2014-12-31$1,588,405
Did the plan have assets held for investment2014-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2014-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2014-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2014-12-31Yes
Opinion of an independent qualified public accountant for this plan2014-12-31Disclaimer
Accountancy firm name2014-12-31FIONDELLA, MILONE & LASARACINA, LLP
Accountancy firm EIN2014-12-31061648707
2013 : PENSION PLAN OF DIRECT BRANDS, INC. 2013 401k financial data
Total unrealized appreciation/depreciation of assets2013-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2013-12-31$0
Total income from all sources (including contributions)2013-12-31$2,169,545
Total loss/gain on sale of assets2013-12-31$0
Total of all expenses incurred2013-12-31$2,344,767
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2013-12-31$2,344,767
Total contributions o plan (from employers,participants, others, non cash contrinutions)2013-12-31$157,708
Value of total assets at end of year2013-12-31$21,037,422
Value of total assets at beginning of year2013-12-31$21,212,644
Total of administrative expenses incurred including professional, contract, advisory and management fees2013-12-31$0
Total interest from all sources2013-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2013-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2013-12-31No
Was this plan covered by a fidelity bond2013-12-31Yes
Value of fidelity bond cover2013-12-31$10,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
Were there any nonexempt tranactions with any party-in-interest2013-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Value of net income/loss2013-12-31$-175,222
Value of net assets at end of year (total assets less liabilities)2013-12-31$21,037,422
Value of net assets at beginning of year (total assets less liabilities)2013-12-31$21,212,644
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2013-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2013-12-31No
Were any leases to which the plan was party in default or uncollectible2013-12-31No
Value of interest in master investment trust accounts at end of year2013-12-31$20,879,714
Value of interest in master investment trust accounts at beginning of year2013-12-31$21,212,644
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2013-12-31No
Was there a failure to transmit to the plan any participant contributions2013-12-31No
Has the plan failed to provide any benefit when due under the plan2013-12-31No
Contributions received in cash from employer2013-12-31$157,708
Employer contributions (assets) at end of year2013-12-31$157,708
Employer contributions (assets) at beginning of year2013-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2013-12-31$2,344,767
Did the plan have assets held for investment2013-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2013-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2013-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2013-12-31Yes
Opinion of an independent qualified public accountant for this plan2013-12-31Disclaimer
Accountancy firm name2013-12-31FIONDELLA,MILONE & LASARACINA, LLP
Accountancy firm EIN2013-12-31061648707
2012 : PENSION PLAN OF DIRECT BRANDS, INC. 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$2,999,126
Total loss/gain on sale of assets2012-12-31$0
Total of all expenses incurred2012-12-31$1,395,529
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$1,395,529
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$750,000
Value of total assets at end of year2012-12-31$21,212,644
Value of total assets at beginning of year2012-12-31$19,609,047
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$0
Total interest from all sources2012-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$10,000,000
If this is an individual account plan, was there a blackout period2012-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$1,603,597
Value of net assets at end of year (total assets less liabilities)2012-12-31$21,212,644
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$19,609,047
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Value of interest in master investment trust accounts at end of year2012-12-31$21,212,644
Value of interest in master investment trust accounts at beginning of year2012-12-31$19,308,823
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31No
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Contributions received in cash from employer2012-12-31$750,000
Employer contributions (assets) at end of year2012-12-31$0
Employer contributions (assets) at beginning of year2012-12-31$300,224
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$1,395,529
Did the plan have assets held for investment2012-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31Yes
Opinion of an independent qualified public accountant for this plan2012-12-31Disclaimer
Accountancy firm name2012-12-31FIONDELLA, MILONE & LASARACINA, LLP
Accountancy firm EIN2012-12-31061648707
2011 : PENSION PLAN OF DIRECT BRANDS, INC. 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total transfer of assets to this plan2011-12-31$20,673,319
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$59,659
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total income from all sources (including contributions)2011-12-31$-453,600
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$610,672
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$610,672
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$535,224
Value of total assets at end of year2011-12-31$19,668,706
Value of total assets at beginning of year2011-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$0
Total interest from all sources2011-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$10,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2011-12-31$59,659
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2011-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-1,064,272
Value of net assets at end of year (total assets less liabilities)2011-12-31$19,609,047
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest in master investment trust accounts at end of year2011-12-31$19,368,482
Value of interest in master investment trust accounts at beginning of year2011-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31No
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$535,224
Employer contributions (assets) at end of year2011-12-31$300,224
Employer contributions (assets) at beginning of year2011-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$610,672
Did the plan have assets held for investment2011-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31FIONDELLA, MILONE & LASARACINA, LLP
Accountancy firm EIN2011-12-31061648707

Form 5500 Responses for PENSION PLAN OF DIRECT BRANDS, INC.

2014: PENSION PLAN OF DIRECT BRANDS, INC. 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes
2013: PENSION PLAN OF DIRECT BRANDS, INC. 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01Submission has been amendedNo
2013-01-01This submission is the final filingNo
2013-01-01This return/report is a short plan year return/report (less than 12 months)No
2013-01-01Plan is a collectively bargained planNo
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: PENSION PLAN OF DIRECT BRANDS, INC. 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingNo
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: PENSION PLAN OF DIRECT BRANDS, INC. 2011 form 5500 responses
2011-08-01Type of plan entitySingle employer plan
2011-08-01First time form 5500 has been submittedYes
2011-08-01Submission has been amendedNo
2011-08-01This submission is the final filingNo
2011-08-01This return/report is a short plan year return/report (less than 12 months)Yes
2011-08-01Plan is a collectively bargained planNo
2011-08-01Plan funding arrangement – TrustYes
2011-08-01Plan benefit arrangement - TrustYes

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