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THE MATT BOWERS COMPANIES RETIREMENT PLAN 401k Plan overview

Plan NameTHE MATT BOWERS COMPANIES RETIREMENT PLAN
Plan identification number 001

THE MATT BOWERS COMPANIES RETIREMENT PLAN 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

MB AUTOMOTIVE MANAGEMENT, LLC DBA THE MATT BOWERS COMPANIES has sponsored the creation of one or more 401k plans.

Company Name:MB AUTOMOTIVE MANAGEMENT, LLC DBA THE MATT BOWERS COMPANIES
Employer identification number (EIN):300930640
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE MATT BOWERS COMPANIES RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-06-01

Plan Statistics for THE MATT BOWERS COMPANIES RETIREMENT PLAN

401k plan membership statisitcs for THE MATT BOWERS COMPANIES RETIREMENT PLAN

Measure Date Value
2022: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01410
Total number of active participants reported on line 7a of the Form 55002022-01-01418
Number of retired or separated participants receiving benefits2022-01-013
Number of other retired or separated participants entitled to future benefits2022-01-014
Total of all active and inactive participants2022-01-01425
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01425
Number of participants with account balances2022-01-0163
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01288
Total number of active participants reported on line 7a of the Form 55002021-01-01270
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-014
Total of all active and inactive participants2021-01-01274
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01274
Number of participants with account balances2021-01-0164
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2020 401k membership
Total participants, beginning-of-year2020-06-01222
Total number of active participants reported on line 7a of the Form 55002020-06-01275
Number of retired or separated participants receiving benefits2020-06-010
Number of other retired or separated participants entitled to future benefits2020-06-013
Total of all active and inactive participants2020-06-01278
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-06-010
Total participants2020-06-01278
Number of participants with account balances2020-06-0152
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-06-010

Financial Data on THE MATT BOWERS COMPANIES RETIREMENT PLAN

Measure Date Value
2022 : THE MATT BOWERS COMPANIES RETIREMENT PLAN 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$325,754
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$169,149
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$144,712
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$535,736
Value of total assets at end of year2022-12-31$1,286,192
Value of total assets at beginning of year2022-12-31$1,129,587
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$24,437
Total interest from all sources2022-12-31$498
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Was this plan covered by a fidelity bond2022-12-31No
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$526,780
Participant contributions at end of year2022-12-31$27,410
Participant contributions at beginning of year2022-12-31$4,663
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$8,622
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$156,605
Value of net assets at end of year (total assets less liabilities)2022-12-31$1,286,192
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$1,129,587
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$1,206,885
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$1,087,795
Income. Interest from loans (other than to participants)2022-12-31$498
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$51,897
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-12-31$37,129
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-210,480
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
Contributions received in cash from employer2022-12-31$334
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$144,712
Contract administrator fees2022-12-31$24,437
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
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31HORNE LLP
Accountancy firm EIN2022-12-31201941244
2021 : THE MATT BOWERS COMPANIES RETIREMENT PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$694
Total income from all sources (including contributions)2021-12-31$1,075,075
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$56,171
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$46,235
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$1,017,831
Value of total assets at end of year2021-12-31$1,129,587
Value of total assets at beginning of year2021-12-31$111,377
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$9,936
Total interest from all sources2021-12-31$182
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
Was this plan covered by a fidelity bond2021-12-31No
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$507,495
Participant contributions at end of year2021-12-31$4,663
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$510,336
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2021-12-31$694
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$1,018,904
Value of net assets at end of year (total assets less liabilities)2021-12-31$1,129,587
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$110,683
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$1,087,795
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$104,884
Interest earned on other investments2021-12-31$182
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$37,129
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$6,493
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$57,062
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$46,235
Contract administrator fees2021-12-31$9,936
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31HORNE LLP
Accountancy firm EIN2021-12-31201941244
2020 : THE MATT BOWERS COMPANIES RETIREMENT PLAN 2020 401k financial data
Total unrealized appreciation/depreciation of assets2020-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$694
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2020-12-31$0
Total income from all sources (including contributions)2020-12-31$110,683
Total loss/gain on sale of assets2020-12-31$0
Total of all expenses incurred2020-12-31$0
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$106,334
Value of total assets at end of year2020-12-31$111,377
Value of total assets at beginning of year2020-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$0
Total interest from all sources2020-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$0
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$100,000
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$106,334
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2020-12-31$694
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$110,683
Value of net assets at end of year (total assets less liabilities)2020-12-31$110,683
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$104,884
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2020-12-31$6,493
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2020-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2020-12-31$4,349
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No

Form 5500 Responses for THE MATT BOWERS COMPANIES RETIREMENT PLAN

2022: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedYes
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: THE MATT BOWERS COMPANIES RETIREMENT PLAN 2020 form 5500 responses
2020-06-01Type of plan entitySingle employer plan
2020-06-01First time form 5500 has been submittedYes
2020-06-01Submission has been amendedNo
2020-06-01This submission is the final filingNo
2020-06-01This return/report is a short plan year return/report (less than 12 months)Yes
2020-06-01Plan is a collectively bargained planNo
2020-06-01Plan funding arrangement – InsuranceYes
2020-06-01Plan funding arrangement – TrustYes
2020-06-01Plan benefit arrangement – InsuranceYes
2020-06-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number860805
Policy instance 1
Insurance contract or identification number860805
Number of Individuals Covered62
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
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 planNo
Contracts With Unallocated Funds Deposit Administration0
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 BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number860805
Policy instance 1
Insurance contract or identification number860805
Number of Individuals Covered64
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $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 planNo
Contracts With Unallocated Funds Deposit Administration0
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 BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No
VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )
Policy contract number860805
Policy instance 1
Insurance contract or identification number860805
Number of Individuals Covered52
Insurance policy start date2020-01-01
Insurance policy end date2020-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $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 planNo
Contracts With Unallocated Funds Deposit Administration0
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 BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Were dividends or retroactive rate refunds paid in cash?No
Were dividends or retroactive rate refunds paid as a credit?No

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