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CHIP GANASSI RACING TEAMS RETIREMENT PLAN 401k Plan overview

Plan NameCHIP GANASSI RACING TEAMS RETIREMENT PLAN
Plan identification number 001

CHIP GANASSI RACING TEAMS 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

CHIP GANASSI RACING TEAMS, INC. has sponsored the creation of one or more 401k plans.

Company Name:CHIP GANASSI RACING TEAMS, INC.
Employer identification number (EIN):382318290
NAIC Classification:711210
NAIC Description: Spectator Sports

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CHIP GANASSI RACING TEAMS RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012011-01-01KRISTY APPLEGATE KRISTY APPLEGATE2012-08-21
0012010-01-01KRISTY KIDDER KRISTY KIDDER2011-10-18
0012009-01-012010-10-12
0012009-01-01KRISTY KIDDER KRISTY KIDDER2010-10-12

Plan Statistics for CHIP GANASSI RACING TEAMS RETIREMENT PLAN

401k plan membership statisitcs for CHIP GANASSI RACING TEAMS RETIREMENT PLAN

Measure Date Value
2022: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01282
Total number of active participants reported on line 7a of the Form 55002022-01-01172
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0197
Total of all active and inactive participants2022-01-01269
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-011
Total participants2022-01-01270
Number of participants with account balances2022-01-01255
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0111
2011: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-01153
Total number of active participants reported on line 7a of the Form 55002011-01-010
Number of retired or separated participants receiving benefits2011-01-010
Number of other retired or separated participants entitled to future benefits2011-01-010
Total of all active and inactive participants2011-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-010
Total participants2011-01-010
Number of participants with account balances2011-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-01169
Total number of active participants reported on line 7a of the Form 55002010-01-0188
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-0165
Total of all active and inactive participants2010-01-01153
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-01153
Number of participants with account balances2010-01-01132
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-01346
Total number of active participants reported on line 7a of the Form 55002009-01-0193
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-0176
Total of all active and inactive participants2009-01-01169
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-01169
Number of participants with account balances2009-01-01148
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-0111

Financial Data on CHIP GANASSI RACING TEAMS RETIREMENT PLAN

Measure Date Value
2022 : CHIP GANASSI RACING TEAMS 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$1,826
Total income from all sources (including contributions)2022-12-31$-3,153,858
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$4,415,244
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$4,323,474
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,348,979
Value of total assets at end of year2022-12-31$19,348,136
Value of total assets at beginning of year2022-12-31$26,919,064
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$91,770
Total interest from all sources2022-12-31$4,188
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$90,145
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$90,145
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$2,000,000
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$1,032,715
Participant contributions at end of year2022-12-31$73,407
Participant contributions at beginning of year2022-12-31$122,843
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$173,076
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2022-12-31$1,984
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2022-12-31$1,826
Other income not declared elsewhere2022-12-31$15,812
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-7,569,102
Value of net assets at end of year (total assets less liabilities)2022-12-31$19,348,136
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$26,917,238
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
Investment advisory and management fees2022-12-31$43,551
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$7,053,715
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$10,322,664
Value of interest in pooled separate accounts at end of year2022-12-31$4,589,364
Value of interest in pooled separate accounts at beginning of year2022-12-31$6,856,591
Interest on participant loans2022-12-31$4,188
Value of interest in common/collective trusts at end of year2022-12-31$7,488,462
Value of interest in common/collective trusts at beginning of year2022-12-31$9,477,484
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-1,832,392
Net investment gain/loss from pooled separate accounts2022-12-31$-1,402,486
Net investment gain or loss from common/collective trusts2022-12-31$-1,378,104
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$143,188
Employer contributions (assets) at end of year2022-12-31$143,188
Employer contributions (assets) at beginning of year2022-12-31$139,482
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$4,321,490
Contract administrator fees2022-12-31$48,219
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 plan2022-12-31Qualified
Accountancy firm name2022-12-31PARSON'S CPA
Accountancy firm EIN2022-12-31274214364
2011 : CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-08-31$0
Total transfer of assets from this plan2011-08-31$5,293,271
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-08-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-08-31$0
Total income from all sources (including contributions)2011-08-31$41,051
Total loss/gain on sale of assets2011-08-31$0
Total of all expenses incurred2011-08-31$213,677
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-08-31$210,408
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-08-31$305,229
Value of total assets at end of year2011-08-31$0
Value of total assets at beginning of year2011-08-31$5,465,897
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-08-31$3,269
Total interest from all sources2011-08-31$2,936
Total dividends received (eg from common stock, registered investment company shares)2011-08-31$9,898
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-08-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-08-31$9,898
Was this plan covered by a fidelity bond2011-08-31Yes
Value of fidelity bond cover2011-08-31$2,000,000
If this is an individual account plan, was there a blackout period2011-08-31Yes
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-08-31$0
Were there any nonexempt tranactions with any party-in-interest2011-08-31No
Contributions received from participants2011-08-31$246,009
Participant contributions at end of year2011-08-31$0
Participant contributions at beginning of year2011-08-31$106,739
Other income not declared elsewhere2011-08-31$1,711
Administrative expenses (other) incurred2011-08-31$3,269
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-08-31No
Value of net income/loss2011-08-31$-172,626
Value of net assets at end of year (total assets less liabilities)2011-08-31$0
Value of net assets at beginning of year (total assets less liabilities)2011-08-31$5,465,897
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-08-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-08-31No
Were any leases to which the plan was party in default or uncollectible2011-08-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-08-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-08-31$4,874,677
Interest on participant loans2011-08-31$2,735
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-08-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-08-31$484,481
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-08-31$484,481
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-08-31$201
Net investment gain/loss from registered investment companies (e.g. mutual funds)2011-08-31$-278,723
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-08-31No
Was there a failure to transmit to the plan any participant contributions2011-08-31Yes
Has the plan failed to provide any benefit when due under the plan2011-08-31No
Contributions received in cash from employer2011-08-31$59,220
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-08-31$210,408
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-08-31Yes
Did the plan have assets held for investment2011-08-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-08-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-08-31Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-08-31Yes
Opinion of an independent qualified public accountant for this plan2011-08-31Disclaimer
Accountancy firm name2011-08-31SLATTERY & HOLMAN, P.C.
Accountancy firm EIN2011-08-31351518557
2010 : CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$0
Total income from all sources (including contributions)2010-12-31$1,170,845
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$521,875
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$494,020
Value of total corrective distributions2010-12-31$14,988
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$549,338
Value of total assets at end of year2010-12-31$5,465,897
Value of total assets at beginning of year2010-12-31$4,816,927
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$12,867
Total interest from all sources2010-12-31$5,214
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$31,955
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2010-12-31$31,955
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$500,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Contributions received from participants2010-12-31$422,866
Participant contributions at end of year2010-12-31$106,739
Participant contributions at beginning of year2010-12-31$67,637
Income. Received or receivable in cash from other sources (including rollovers)2010-12-31$68,098
Other income not declared elsewhere2010-12-31$1,170
Administrative expenses (other) incurred2010-12-31$12,867
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$648,970
Value of net assets at end of year (total assets less liabilities)2010-12-31$5,465,897
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$4,816,927
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2010-12-31$4,874,677
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2010-12-31$4,221,222
Interest on participant loans2010-12-31$5,209
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$484,481
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$528,068
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$528,068
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$5
Net investment gain/loss from registered investment companies (e.g. mutual funds)2010-12-31$583,168
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31No
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Contributions received in cash from employer2010-12-31$58,374
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$494,020
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Disclaimer
Accountancy firm name2010-12-31SLATTERY & HOLMAN, P.C.
Accountancy firm EIN2010-12-31351518557
2009 : CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for CHIP GANASSI RACING TEAMS RETIREMENT PLAN

2022: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
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
2011: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingYes
2011-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedYes
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: CHIP GANASSI RACING TEAMS RETIREMENT PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number615924
Policy instance 1
Insurance contract or identification number615924
Number of Individuals Covered270
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
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
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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