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KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameKELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN
Plan identification number 001

KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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

KELLY & IGNOFFO LAW GROUP, P.C. has sponsored the creation of one or more 401k plans.

Company Name:KELLY & IGNOFFO LAW GROUP, P.C.
Employer identification number (EIN):364545128
NAIC Classification:541110
NAIC Description:Offices of Lawyers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JOHN G. KELLY2024-10-10 JOHN G. KELLY2024-10-10
0012022-01-01JOHN G. KELLY2023-08-16 JOHN G. KELLY2023-08-16
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01JOHN KELLY2019-09-25 JOHN KELLY2019-09-25
0012017-01-01JOHN KELLY2018-10-10 JOHN KELLY2018-10-10
0012016-01-01JOHN KELLY2017-10-09 JOHN KELLY2017-10-09
0012015-01-01JOHN KELLY2016-06-13 JOHN KELLY2016-06-13
0012015-01-01JOHN KELLY2017-10-17 JOHN KELLY2017-10-17
0012015-01-01JOHN KELLY2017-10-09 JOHN KELLY2017-10-09
0012014-01-01JOHN KELLY2015-07-23 JOHN KELLY2015-07-23
0012013-01-01JOHN KELLY2014-10-10 JOHN KELLY2014-10-10
0012012-01-01JOHN KELLY2013-07-25 JOHN KELLY2013-07-25
0012011-01-01JOHN G. KELLY2012-08-15
0012010-01-01JOHN G. KELLY2011-09-13

Financial Data on KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN

Measure Date Value
2023 : KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN 2023 401k financial data
Total income from all sources2023-12-31$490,465
Expenses. Total of all expenses incurred2023-12-31$24,548
Benefits paid (including direct rollovers)2023-12-31$0
Total plan assets at end of year2023-12-31$3,313,622
Total plan assets at beginning of year2023-12-31$2,847,705
Value of fidelity bond covering the plan2023-12-31$500,000
Total contributions received or receivable from participants2023-12-31$53,700
Expenses. Other expenses not covered elsewhere2023-12-31$0
Contributions received from other sources (not participants or employers)2023-12-31$0
Other income received2023-12-31$345,415
Net income (gross income less expenses)2023-12-31$465,917
Net plan assets at end of year (total assets less liabilities)2023-12-31$3,313,622
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$2,847,705
Assets. Value of participant loans2023-12-31$24,379
Assets. Value of assets in partnership/joint-venture interests2023-12-31$341,155
Total contributions received or receivable from employer(s)2023-12-31$91,350
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$24,548
2022 : KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Transfers to/from the plan2022-12-31$0
Total income from all sources2022-12-31$51,927
Expenses. Total of all expenses incurred2022-12-31$22,620
Benefits paid (including direct rollovers)2022-12-31$0
Total plan assets at end of year2022-12-31$2,847,705
Total plan assets at beginning of year2022-12-31$2,818,398
Value of fidelity bond covering the plan2022-12-31$500,000
Total contributions received or receivable from participants2022-12-31$48,700
Expenses. Other expenses not covered elsewhere2022-12-31$0
Contributions received from other sources (not participants or employers)2022-12-31$487,133
Other income received2022-12-31$-533,336
Noncash contributions received2022-12-31$0
Net income (gross income less expenses)2022-12-31$29,307
Net plan assets at end of year (total assets less liabilities)2022-12-31$2,847,705
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$2,818,398
Assets. Value of participant loans2022-12-31$38,765
Assets. Value of assets in partnership/joint-venture interests2022-12-31$465,184
Total contributions received or receivable from employer(s)2022-12-31$49,430
Value of certain deemed distributions of participant loans2022-12-31$0
Value of corrective distributions2022-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2022-12-31$22,620

Form 5500 Responses for KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN

2023: KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: KELLY & IGNOFFO LAW GROUP, P.C. 401(K) PROFIT SHARING 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

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number106583
Policy instance 1
Insurance contract or identification number106583
Number of Individuals Covered3
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $0
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
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number106583
Policy instance 1
Insurance contract or identification number106583
Number of Individuals Covered3
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 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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