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THE BAYER GROUP 401k Plan overview

Plan NameTHE BAYER GROUP
Plan identification number 501

THE BAYER GROUP Benefits

401k Plan TypeWelfare Benefit
Plan Features/Benefits
  • Life insurance
  • Death benefits (include travel accident but not life insurance)

401k Sponsoring company profile

THE BAYER GROUP has sponsored the creation of one or more 401k plans.

Company Name:THE BAYER GROUP
Employer identification number (EIN):364769439
NAIC Classification:441110
NAIC Description:New Car Dealers

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE BAYER GROUP

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
5012021-11-01SUE HARRIS2023-04-18
5012020-11-01SUE HARRIS2022-05-27

Plan Statistics for THE BAYER GROUP

401k plan membership statisitcs for THE BAYER GROUP

Measure Date Value
2021: THE BAYER GROUP 2021 401k membership
Total participants, beginning-of-year2021-11-01101
Total number of active participants reported on line 7a of the Form 55002021-11-01100
Number of retired or separated participants receiving benefits2021-11-010
Number of other retired or separated participants entitled to future benefits2021-11-010
Total of all active and inactive participants2021-11-01100
Number of employers contributing to the scheme2021-11-010
2020: THE BAYER GROUP 2020 401k membership
Total participants, beginning-of-year2020-11-01102
Total number of active participants reported on line 7a of the Form 55002020-11-01101
Number of retired or separated participants receiving benefits2020-11-010
Number of other retired or separated participants entitled to future benefits2020-11-010
Total of all active and inactive participants2020-11-01101
Number of employers contributing to the scheme2020-11-010

Form 5500 Responses for THE BAYER GROUP

2021: THE BAYER GROUP 2021 form 5500 responses
2021-11-01Type of plan entitySingle employer plan
2021-11-01Plan funding arrangement – InsuranceYes
2021-11-01Plan benefit arrangement – InsuranceYes
2020: THE BAYER GROUP 2020 form 5500 responses
2020-11-01Type of plan entitySingle employer plan
2020-11-01First time form 5500 has been submittedYes
2020-11-01Plan funding arrangement – InsuranceYes
2020-11-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

MUTUAL OF OMAHA (National Association of Insurance Commissioners NAIC id number: 69868 )
Policy contract numberGLUG0BSDC
Policy instance 1
Insurance contract or identification numberGLUG0BSDC
Number of Individuals Covered100
Insurance policy start date2021-11-01
Insurance policy end date2022-10-31
Total amount of commissions paid to insurance brokerUSD $638
Total amount of fees paid to insurance companyUSD $253
Life Insurance Welfare BenefitYes
Other welfare benefits providedACCIDENTAL DEATH AND DISMEMBERMENT
Welfare Benefit Premiums Paid to CarrierUSD $4,252
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $638
Amount paid for insurance broker fees253
Additional information about fees paid to insurance brokerOTHER COMPENSATION
Insurance broker organization code?3
MUTUAL OF OMAHA (National Association of Insurance Commissioners NAIC id number: 69868 )
Policy contract numberGLUG0BSDC DIV 1
Policy instance 1
Insurance contract or identification numberGLUG0BSDC DIV 1
Number of Individuals Covered101
Insurance policy start date2020-11-01
Insurance policy end date2021-10-31
Total amount of commissions paid to insurance brokerUSD $3,533
Total amount of fees paid to insurance companyUSD $131
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitYes
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
Other welfare benefits providedACCIDENTAL DEATH AND DISMEMBERMENT
Welfare Benefit Premiums Paid to CarrierUSD $28,836
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $3,533
Amount paid for insurance broker fees131
Additional information about fees paid to insurance brokerOTHER COMPENSATION
Insurance broker organization code?3

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