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RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 401k Plan overview

Plan NameRETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC.
Plan identification number 001

RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, 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).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.

401k Sponsoring company profile

IDEAL PRODUCTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:IDEAL PRODUCTS, INC.
Employer identification number (EIN):251042833
NAIC Classification:315290

Form 5500 Filing Information

Submission information for form 5500 for 401k plan RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC.

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012013-01-01JOHN BEAN
0012012-01-01JOHN BEAN
0012011-01-01JOHN BEAN
0012010-01-01JOHN BEAN

Financial Data on RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC.

Measure Date Value
2013 : RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2013 401k financial data
Transfers to/from the plan2013-12-31$-1,081,566
Total plan liabilities at end of year2013-12-31$0
Total plan liabilities at beginning of year2013-12-31$0
Total income from all sources2013-12-31$8,288
Expenses. Total of all expenses incurred2013-12-31$1,242,956
Benefits paid (including direct rollovers)2013-12-31$1,174,801
Total plan assets at end of year2013-12-31$0
Total plan assets at beginning of year2013-12-31$2,316,234
Value of fidelity bond covering the plan2013-12-31$350,000
Expenses. Other expenses not covered elsewhere2013-12-31$18,519
Other income received2013-12-31$8,288
Net income (gross income less expenses)2013-12-31$-1,234,668
Net plan assets at end of year (total assets less liabilities)2013-12-31$0
Net plan assets at beginning of year (total assets less liabilities)2013-12-31$2,316,234
Expenses. Administrative service providers (salaries,fees and commissions)2013-12-31$49,636
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2013-12-31$0
2012 : RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2012 401k financial data
Total income from all sources2012-12-31$137,336
Expenses. Total of all expenses incurred2012-12-31$106,821
Benefits paid (including direct rollovers)2012-12-31$73,293
Total plan assets at end of year2012-12-31$2,316,234
Total plan assets at beginning of year2012-12-31$2,285,719
Value of fidelity bond covering the plan2012-12-31$350,000
Expenses. Other expenses not covered elsewhere2012-12-31$14,367
Other income received2012-12-31$137,336
Net income (gross income less expenses)2012-12-31$30,515
Net plan assets at end of year (total assets less liabilities)2012-12-31$2,316,234
Net plan assets at beginning of year (total assets less liabilities)2012-12-31$2,285,719
Expenses. Administrative service providers (salaries,fees and commissions)2012-12-31$19,161
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
2011 : RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2011 401k financial data
Total income from all sources2011-12-31$109,627
Expenses. Total of all expenses incurred2011-12-31$131,967
Benefits paid (including direct rollovers)2011-12-31$102,386
Total plan assets at end of year2011-12-31$2,285,719
Total plan assets at beginning of year2011-12-31$2,308,059
Value of fidelity bond covering the plan2011-12-31$350,000
Expenses. Other expenses not covered elsewhere2011-12-31$20,681
Other income received2011-12-31$109,627
Net income (gross income less expenses)2011-12-31$-22,340
Net plan assets at end of year (total assets less liabilities)2011-12-31$2,285,719
Net plan assets at beginning of year (total assets less liabilities)2011-12-31$2,308,059
Assets. Value of employer securities2011-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2011-12-31$8,900
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
2010 : RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2010 401k financial data
Total income from all sources2010-12-31$213,416
Expenses. Total of all expenses incurred2010-12-31$79,585
Benefits paid (including direct rollovers)2010-12-31$63,003
Total plan assets at end of year2010-12-31$2,308,059
Total plan assets at beginning of year2010-12-31$2,174,228
Value of fidelity bond covering the plan2010-12-31$350,000
Other income received2010-12-31$213,416
Net income (gross income less expenses)2010-12-31$133,831
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,308,059
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$2,174,228
Assets. Value of employer securities2010-12-31$0
Total contributions received or receivable from employer(s)2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$16,582
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC.

2013: RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2013 form 5500 responses
2013-01-01Type of plan entitySingle employer plan
2013-01-01This submission is the final filingYes
2013-01-01Plan funding arrangement – TrustYes
2013-01-01Plan benefit arrangement - TrustYes
2012: RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: RETIREMENT PLAN FOR EMPLOYEES OF IDEAL PRODUCTS, INC. 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes

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