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EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE 401k Plan overview

Plan NameEMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE
Plan identification number 001

EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • 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

OPPORTUNITIES INDUSTRIALIZATION CEN TER OF RACINE COUNTY, INC. has sponsored the creation of one or more 401k plans.

Company Name:OPPORTUNITIES INDUSTRIALIZATION CEN TER OF RACINE COUNTY, INC.
Employer identification number (EIN):391638315
NAIC Classification:611000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012011-01-01CLAUDIUS ADEBAYO2012-10-11 CLAUDIUS ADEBAYO2012-10-11
0012009-01-01CLAUDIUS ADEBAYO

Plan Statistics for EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE

401k plan membership statisitcs for EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE

Measure Date Value
2009: EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE 2009 401k membership
Total participants, beginning-of-year2009-01-018
Total number of active participants reported on line 7a of the Form 55002009-01-017
Number of other retired or separated participants entitled to future benefits2009-01-011
Total of all active and inactive participants2009-01-018
Total participants2009-01-018
Number of participants with account balances2009-01-018

Financial Data on EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE

Measure Date Value
2010 : EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE 2010 401k financial data
Total income from all sources2010-12-31$40,231
Expenses. Total of all expenses incurred2010-12-31$7,458
Benefits paid (including direct rollovers)2010-12-31$4,365
Total plan assets at end of year2010-12-31$188,038
Total plan assets at beginning of year2010-12-31$155,265
Total contributions received or receivable from participants2010-12-31$23,679
Expenses. Other expenses not covered elsewhere2010-12-31$3,093
Other income received2010-12-31$8,176
Net income (gross income less expenses)2010-12-31$32,773
Net plan assets at end of year (total assets less liabilities)2010-12-31$188,038
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$155,265
Total contributions received or receivable from employer(s)2010-12-31$8,376
Funding deficiency by the employer to the plan for this plan year2010-12-31$0
Minimum employer required contribution for this plan year2010-12-31$0
Amount contributed by the employer to the plan for this plan year2010-12-31$0
2009 : EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE 2009 401k financial data
Funding deficiency by the employer to the plan for this plan year2009-12-31$0
Minimum employer required contribution for this plan year2009-12-31$0
Amount contributed by the employer to the plan for this plan year2009-12-31$0

Form 5500 Responses for EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE

2009: EMPLOYEE BENEFIT PLAN OF OPPORTUNITIES INDUSTRIALIZATION CENTER OF RACINE 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Plan funding arrangement – InsuranceYes
2009-01-01Plan benefit arrangement – InsuranceYes

Insurance Providers Used on plan

MUTUAL OF AMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 88668 )
Policy contract number054241-F
Policy instance 1
Insurance contract or identification number054241-F
Number of Individuals Covered7
Insurance policy start date2010-01-01
Insurance policy end date2010-12-31
Total amount of fees paid to insurance companyUSD $57
Contracts With Unallocated Funds Deposit Administration1
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No

Potentially related plans

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