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SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN 401k Plan overview

Plan NameSECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN
Plan identification number 002

SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) 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

SECURITY STATE BANK OF HIBBING has sponsored the creation of one or more 401k plans.

Company Name:SECURITY STATE BANK OF HIBBING
Employer identification number (EIN):410531720
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01MARK GARDESKI2024-05-06 MARK GARDESKI2024-05-06
0022022-01-01MARK GARDESKI2023-05-22 MARK GARDESKI2023-05-22
0022021-01-01MARK GARDESKI2022-08-30 MARK GARDESKI2022-08-30
0022020-01-01MARK GARDESKI2021-09-20 MARK GARDESKI2021-09-20
0022019-01-01MARK GARDESKI2020-07-28 MARK GARDESKI2020-07-28
0022018-01-01MARK GARDESKI2019-04-23 MARK GARDESKI2019-04-23
0022017-01-01MARK GARDESKI2018-07-20 MARK GARDESKI2018-07-20
0022016-01-01MARK GARDESKI2017-06-13 MARK GARDESKI2017-06-13
0022015-01-01MARK GARDESKI2016-07-14 MARK GARDESKI2016-07-14
0022014-01-01MARK GARDESKI2015-06-23 MARK GARDESKI2015-06-23
0022013-01-01MARK GARDESKI2014-07-23 MARK GARDESKI2014-07-23
0022012-01-01MARK GARDESKI2013-04-18 MARK GARDESKI2013-04-18
0022011-01-01PATRICK GATES2012-06-07 PATRICK GATES2012-06-07
0022010-01-01PATRICK GATES2011-07-19 PATRICK GATES2011-07-19

Financial Data on SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN

Measure Date Value
2025 : SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-09-100
Total liabilities as of the end of the plan year2025-09-100
Total liabilities as of the beginning of the plan year2025-09-100
Total expenses incurred by plan in this plan year2025-09-10529619
Net assets as of the end of the plan year2025-09-102691487
Total assets as of the beginning of the plan year2025-09-102757761
Value of plan covered by a fidelity bond2025-09-102275000
Participant contributions to plan in this plan year2025-09-10100861
Other expenses paid from plan in this plan year2025-09-100
Other contributions to plan in this plan year2025-09-100
Other income to plan in this plan year2025-09-10304797
Plan net income in this plan year2025-09-10-66274
Net assets as of the end of the plan year2025-09-102691487
Net assets as of the beginning of the plan year2025-09-102757761
Employer contributions to plan in this plan year2025-09-1057687
Expensese paid to adminstrative service provicers from plan in this plan year2025-09-1023606
2024 : SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-05-060
Total liabilities as of the end of the plan year2024-05-060
Total liabilities as of the beginning of the plan year2024-05-060
Total expenses incurred by plan in this plan year2024-05-0668575
Net assets as of the end of the plan year2024-05-062757761
Total assets as of the beginning of the plan year2024-05-062236535
Value of plan covered by a fidelity bond2024-05-062275000
Participant contributions to plan in this plan year2024-05-06132756
Other expenses paid from plan in this plan year2024-05-060
Other contributions to plan in this plan year2024-05-063819
Other income to plan in this plan year2024-05-06381667
Plan net income in this plan year2024-05-06521226
Net assets as of the end of the plan year2024-05-062757761
Net assets as of the beginning of the plan year2024-05-062236535
Value of contributions failed to transmitted timely2024-05-068699
Employer contributions to plan in this plan year2024-05-0671559
Fees paid to broker by Benefit Provider2024-05-063370
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-0619730
2022 : SECURITY STATE BANK OF HIBBING PROFIT SHARING AND 401(K) PLAN 2022 401k financial data
Total transfers to/from plan in this plan year2022-08-300
Total liabilities as of the end of the plan year2022-08-300
Total liabilities as of the beginning of the plan year2022-08-300
Total expenses incurred by plan in this plan year2022-08-3021363
Net assets as of the end of the plan year2022-08-302547439
Total assets as of the beginning of the plan year2022-08-301985369
Value of plan covered by a fidelity bond2022-08-302275000
Participant contributions to plan in this plan year2022-08-30122590
Other expenses paid from plan in this plan year2022-08-300
Other contributions to plan in this plan year2022-08-30124129
Other income to plan in this plan year2022-08-30265144
Plan net income in this plan year2022-08-30562070
Net assets as of the end of the plan year2022-08-302547439
Net assets as of the beginning of the plan year2022-08-301985369
Value of contributions failed to transmitted timely2022-08-308699
Employer contributions to plan in this plan year2022-08-3071570
Fees paid to broker by Benefit Provider2022-08-3010665
Expensese paid to adminstrative service provicers from plan in this plan year2022-08-30823

Potentially related plans

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