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1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN 401k Plan overview

Plan Name1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN
Plan identification number 001

1ST CHOICE FINANCIAL SERVICES LLC 401K 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

1ST CHOICE FINANCIAL SERVICES LLC has sponsored the creation of one or more 401k plans.

Company Name:1ST CHOICE FINANCIAL SERVICES LLC
Employer identification number (EIN):454895251
NAIC Classification:522298
NAIC Description:All Other Nondepository Credit Intermediation

Additional information about 1ST CHOICE FINANCIAL SERVICES LLC

Jurisdiction of Incorporation: Michigan Department of Licensing & Regulatory Affairs
Incorporation Date:
Company Identification Number: D73126

More information about 1ST CHOICE FINANCIAL SERVICES LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan 1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01MARK HAMMONDS2024-06-13 MARK HAMMONDS2024-06-13
0012022-01-01MARK HAMMONDS2023-06-22 MARK HAMMONDS2023-06-22
0012021-01-01MARK HAMMONDS2022-07-13 MARK HAMMONDS2022-07-13
0012020-01-01MARK HAMMONDS2021-09-16 MARK HAMMONDS2021-09-16

Financial Data on 1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN

Measure Date Value
2025 : 1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN 2025 401k financial data
Total liabilities as of the end of the plan year2025-06-170
Total liabilities as of the beginning of the plan year2025-06-170
Total expenses incurred by plan in this plan year2025-06-17105252
Net assets as of the end of the plan year2025-06-17282744
Total assets as of the beginning of the plan year2025-06-1763000
Value of plan covered by a fidelity bond2025-06-1730000
Participant contributions to plan in this plan year2025-06-1745454
Other contributions to plan in this plan year2025-06-17200000
Other income to plan in this plan year2025-06-1730832
Plan net income in this plan year2025-06-17219744
Net assets as of the end of the plan year2025-06-17282744
Net assets as of the beginning of the plan year2025-06-1763000
Employer contributions to plan in this plan year2025-06-1748710
2024 : 1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN 2024 401k financial data
Total liabilities as of the end of the plan year2024-06-140
Total liabilities as of the beginning of the plan year2024-06-140
Net assets as of the end of the plan year2024-06-1463000
Total assets as of the beginning of the plan year2024-06-1424771
Value of plan covered by a fidelity bond2024-06-147000
Participant contributions to plan in this plan year2024-06-1412281
Other contributions to plan in this plan year2024-06-140
Other income to plan in this plan year2024-06-144771
Plan net income in this plan year2024-06-1438229
Net assets as of the end of the plan year2024-06-1463000
Net assets as of the beginning of the plan year2024-06-1424771
Employer contributions to plan in this plan year2024-06-1421177
2022 : 1ST CHOICE FINANCIAL SERVICES LLC 401K PLAN 2022 401k financial data
Total liabilities as of the end of the plan year2022-07-140
Total liabilities as of the beginning of the plan year2022-07-140
Total expenses incurred by plan in this plan year2022-07-148174
Net assets as of the end of the plan year2022-07-1410974
Total assets as of the beginning of the plan year2022-07-1411234
Value of plan covered by a fidelity bond2022-07-142000
Participant contributions to plan in this plan year2022-07-141000
Other contributions to plan in this plan year2022-07-140
Other income to plan in this plan year2022-07-14641
Plan net income in this plan year2022-07-14-260
Net assets as of the end of the plan year2022-07-1410974
Net assets as of the beginning of the plan year2022-07-1411234
Employer contributions to plan in this plan year2022-07-146273

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